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Investment Group Buys Parcel to Build New Medical Building in Mixed-use Project

LAGUNA WOODS, CA-Mark IV Capital will break ground later this year on a 40,000-sf medical building that already has a tenant taking the entire first floor.

By Joel Cone | Updated on February 05, 2001

LAGUNA WOODS, CA-Mark IV Capital has acquired a 2.69-acre parcel within the city’s 253,270-sf Town Center, mixed-use development from Costa Mesa-based Polygon Development for $1.5 million.

When completed, the mixed-use Town Center project, located at 24331 El Toro Rd. will consist of two office buildings, a 140-room Countryside Inn hotel, a restaurant, two retail buildings and the new three-story 40,000-sf medical building that Mark IV is building. Parking will have a 6.67:1 ratio, with a private doctors’ parking area. Groundbreaking on the medical building is scheduled for May 2001, with occupancy of the new space beginning the first quarter of 2002.

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