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75,000 SF Office Projects in the Pipeline

TEMECULA, CA-Two local office projects will break ground in the coming months. The first development will be a 12-building office campus totaling 50,104 sf. The second project calls for a 20,416-sf stand-alone facility.

By Daniel D. Williams | Updated on September 28, 2005

TEMECULA, CA-Activity is heating up locally with the announcement of separate office projects soon to break ground. The projects, both being developed by Newport Beach-based Jefferson Partners Inc., will total 75,000 sf of office space. Financial considerations were not released.In the first development, a 12-building office campus totaling 50,104 sf will break ground in the first quarter of 2006. The site is located at the southeast corner of Roick Avenue and Via Industria.The office campus will be called West Pointe Business Park and counts 10 single-story and two two-story buildings ranging from 3,000 sf to 6,900 sf. The units will be available on a for-sale basis and will feature two entrances. The second entrance will allow for buyers to lease out half the building, according to a broker associated with the project.”It is appealing to buyers in the current market to have the option to lease a portion of the space if they don’t need [the full] 3,000 sf or 4,000 sf, but still want to own,” says John Oien, a vice president with CB Richard Ellis. Oien, Ted Snell and Allison Schneider, all of CBRE, are marketing the project.The second development, which will break ground during the fourth quarter of this year, will be a 20,416-sf office property that will be marketed for sale or for lease. To be known as Park Place Professional Building, the property is located at 41900 Winchester Rd. Although being built as a stand-alone project, the facility will have the option to be sold as a single unit or broken up in as many as six individual units, according to Oien, who says the area is a developing market.”As the Corona and San Diego office markets mature, we will continue to see more and more of the growth moving into the Temecula area,” Oien says.

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