Sares-Regis Partners on $55-Mil. Office Complex

IRVINE, CA-Sares-Regis Group, Irvine, has joined forces with Starpointe Ventures to develop a $55-million, 250,000-sf office complex at The Campus Centre—formerly known as Koll Center South—here at the intersection of Jamboree Road and Campus Avenue.

Starpointe Ventures, headed by Orange County developer Tim Strader Sr., had a deal to co-develop a 6.5-acre portion of the site with Koll Development Co., Newport Beach. Last month, Starpointe acquired full control of that project.

The Campus Centre development consists of 28 acres being sold to developers by Prudential Insurance Co. of America. Neither Sares-Regis nor Starpointe would reveal the price paid for the land.

Sares-Regis has acquired a 10-acre site at Campus Drive and Carlson Avenue–adjoining The Campus Centre–to develop The Watermarke, a 548-unit luxury apartment project. Plans for the office portion of The Campus Centre call for two buildings, one with six stories and the other with four. Construction of both buildings is slated for the late first or early second quarter of 2001, with completion a year later, says John Hagestad, managing director and principal of Sares-Regis.