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HUNTINGTON BEACH, CA-In a move designed to shed excess real estate from its portfolio, Boeing Realty Corp. has announced that it will divvy up a 38-acre Huntington Beach site and sell off the parcels.

Former Boeing facilities currently stand on the site, which is located in close proximity to the McDonnell Centre Business Park. Boeing has already begun razing the buildings, which contain more than 450,000 sf of manufacturing space. The company, which is a wholly owned subsidiary of the Boeing Co., expects to complete the demolition by the first quarter 2002. Once land is cleared, infrastructure construction can begin.

Boeing plans to break up the 38-acre site into smaller parcels and sell them to companies looking to build corporate headquarters or industrial facilities. “This project represents one of the few opportunities in Orange County to acquire a large parcel of land for corporate headquarters or industrial and manufacturing use,” says Brian DeRevere, senior vice president of CB Richard Ellis, which is handling the sale of the parcels on behalf of Boeing Realty.

The Boeing site will add 600,000 sf of commercial space to the 1.8 million-sf McDonnell Centre Business Park. The McDonnell complex stands adjacent to the Boeing Space and Communication Division at Skylab Road and Astronautics Lane.

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