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OCEANSIDE, CA-A partnership led by the Irvine-based Koll Co. has acquired 24.9 acres from the City of Oceanside and plans for a major business park in the area. Koll teamed with Cartlas Investments and Finest City Realty Advisors in the $6.6 million land deal.The partnership will develop Seagate Corporate Center, a 380,000-sf business park. Located roughly a mile south of Highway 76, the development will feature space set aside for corporate headquarters, office, R&D and light industrial use.”We worked closely with the City of Oceanside to create a project and structure a transaction that met everyone’s objectives,” says John White, manager of Carltas Investments. White adds that the site is raw land that could not be developed until recently. “When the city installed Rancho del Oro Road it provided access to the parcel and opened it up for development,” he says.The project will be developed in multiple stages, according to the principals involved. The first phase will count 177,000 sf. For-sale buildings will include 95,000 sf of small industrial facilities ranging from 5,000 sf to 25,000 sf; 67,000 sf of incubator light industrial space with units ranging from 2,100 sf to 5,000 sf; and 15,000 sf of office space.First phase site construction is planned to begin in January with completion of the first buildings targeted for summer 2006. Pre-sales are scheduled to begin this month. Smith Consulting Architects of San Diego will serve as the architect on the project.”We were able to purchase the Phase I parcel outright and the city structured a purchase note for the Phase II land, which gave flexibility to the project,” White adds.The project reunites White and long-time business partners Jerry Yahr, managing partner of The Koll Co. and Charlie Adbi, principal of Finest City. The relationships date back to the early 80s when Abdi and White worked together in what is now known as CB Richard Ellis. Since that time, White has sold numerous properties to The Koll Co. and Abdi has partnered with Koll in developing and acquiring more than 10 million sf.

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