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LAKE FOREST, CA-Aliso Viejo-based Shea Properties recently unveiled plans to build a 380-acre mixed-use business community in Lake Forest. The project, which is being developed in a joint-venture partnership with the Baker family interests, will encompass nearly five million sf of commercial space.

Site grading has already begun on the project’s 84-acre first phase, with completion slated for the first quarter of 2002. The development, known as AXIS, will be built in various phases and will cost an estimated $450 million. “It is a long-term project that is going to be developed over a seven to 10-year period,” says Gene Spindler, Shea Properties’ vice president.

The mixed-use project will include industrial, R&D, office and flex tech space. “We are looking at a wide range of product type,” Spindler says. “Naturally, the project will be market driven.” The project will be split into sites of varying sizes, which will accommodate a range of businesses. For example, the developers hope the large parcels will attract corporations that want to develop corporate campuses. “We see corporate campuses as being a major point of the project,” Spindler says.

The project will rise along the Foothill Transportation Corridor, providing tenants with access to the region’s major transportation networks. In addition, it is close to several residential communities, which will make labor more readily accessible. “Firms located at AXIS can tap into a sophisticated labor pool and access the region’s vast transportation and communications networks,” Spindler says.

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