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Shea Properties New Development & Insignia Leases, Make OC a Hotbed of Activity This Week

ORANGE COUNTY, CA-Transactions in Orange County this week total $420 million. Shea Properties' will build a $350-million office park, and Insignia/ESG negotiates three leases worth $70 million.

By Joel Cone | Updated on November 02, 2000

ORANGE COUNTY, CA-Between development and leasing activity alone, the Orange County market has been abuzz the past few days with the announcement of $420 million in deals.

On the development side, Shea Properties announced Tuesday a spring 2001 groundbreaking on the first phase of what will ultimately be a 40-acre, 1.5 million-sf mixed-use project in Aliso Viejo called Vantis. Valued at $350 million when completed, Vantis will be a campus-style complex consisting of nine, three- to eight-story buildings, which will be connected to each other and the Aliso Viejo Town Center retail area through a system of pedestrian walkways.

Featuring a futuristic design and high-tech services, including broadband telecommunications, the first phase of the project is expected to be completed in spring 2002. Synder Langston of Irvine is the contractor for the project.

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