ALISO VIEJO, CA—Experiential centers don't just describe retail stores; they are the next phase of office development, Parker Properties' co-managing partner Russ Parker tells GlobeSt.com. Following the announcement of the firm's latest and final phase of Summit Office Campus here—a four-story, 205,000-square-foot build-to-suit for innovation firm MicroVention—we spoke exclusively with Parker about the campus, the Aliso Viejo submarket and the next phase of office development.
GlobeSt.com: Describe the impact of Summit Office Campus on Aliso Viejo and how you attracted high-profile, high-tech tenants there.
Parker: It was a master plan done probably 25 years ago by Mission Viejo Co., which developed Mission Viejo about 35 years ago. Lesson learned: When they built out Mission Viejo, they put the shopping centers out all over the place in between residential communities and lots for sale. It was good, but it was also very scattered—they were a bunch of similar shopping centers that didn't really cater to residents' needs and didn't have that live/work/play balance.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
