The property, which will now have the new street addresses of1400 and 1420 Reynolds Ave., is now called MacArthur MedicalCampus. Net Development is taking what was one building, trimmingaway some of the space and converting it into two freestandingbuildings of suites ranging from 1,387 sf to 34,138 sf.

Net Development, which has been building medical facilities formore than 25 years, has already broken ground on the project, whichis scheduled to be completed in the first quarter of 2008. Thedeveloper acquired the building from IG Equities of Beverly Hills,with Scott Read of the Newport Beach office of Grubb & Ellisrepresenting Redhill Realty and IG Equities represented by DaveDesper and Chip Wright of CB Richard Ellis.

Grubb & Ellis has also landed the listing for the newproject, with Read, Wade Tift and Byron Foss of the company'sNewport Beach office representing Redhill Realty on the sale of thenew office suites. The development is expected to benefit from thefast-growing demand for medical space in the region as well as itsprime locationat the prominent corner of MacArthur Boulevard andRed Hill Avenue.