The three properties that Nouveau acquired are class A buildingsadjoining the new Capistrano Valley School District buildings,freeway visibility in a market with "high demand and limited supplyfor this type of product," Clark says. Nouveau has named Clark andWalker as the leasing agents for the new office project, whichClark says will be marketed to tenants of all sizes, ranging fromabout 2,000 sf on up.

The project will likely include a large proportion ofprofessional firms because the buildings are especially well suitedfor professional office use, according to Clark. Nouveau initiallywas looking for space for its own use but then decided to acquirethe additional space as an investment, he says.

Nouveau bought the three properties from Centra Realty Corp. andKing Insurance, both of whom were represented by Dave Travis of theIrvine office of Voit Commercial Brokerage.The three properties area 10,671-sf building at 33272 Valle Rd., a 19,714-sf building at33302 Valle Rd. and an 18,846-sf building at 33332 Valle Rd. Allthree were completed in February of this year.