Opus West Sells $25M of Pine Corporate Properties

CHINO HILLS, CA-Developer Opus West has signed agreements with buyers for approximately 102,000 sf of its 115,000-sf Pine Corporate Center within five months of breaking ground. The deals, totaling $25 million, are expected to close at the completion of construction, which is scheduled for March.The Pine Corporate Center project, at Pine Avenue and the 71-Expressway just north of the 91 Freeway, consists of 15 office buildings of one and two stories, plus a 17,000-sf retail center, with all but two of the office buildings now sold. The project has attracted buyers that include legal, real estate, accounting, import-export, sales, and medical offices. The buyers are relocating from areas like Diamond Bar, Anaheim Hills, Brea and other surrounding communities.The retail portion of the development, known as Pine Center, is at the corner of Pine and Butterfield Ranch Road, adjacent to the office project. The center will consist of two buildings with a tenant roster that will include a drive-through Starbuck’s, a Subway, a dry cleaner, a business center, a salon and a dentist.The development is a project of the Southern California regional headquarters of Opus in Irvine. It is being designed by Lee & Sakahara Architects of Irvine with landscaping by Ridge Landscape Architects of Irvine.Sales and leasing agents for the office buildings are Taylor Ing and Michael Day of the Ontario office of CB Richard Ellis, with Tony Archer, Angie Nett and Matt Burnett of CB Richard Ellis Ontario leasing the retail space. The project is one of a number of developments that Opus has under way in the Chino Hills area, including the Shoppes at Chino Hills, a one-million-sf mixed-use development that will include an open-air lifestyle retail center, a new civic center, a new Chino Hills Community Park and a residential component.