$60M Development Lands Tenant, Hotel

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RANCHO CUCAMONGA, CA-New tenant Co-Op Financial Services has signed a $14 million lease for 75,000 sf of office space at the Hileman Co.’s $60 million HavenPark mixed-use development, where Hileman also has sold a parcel for the development of a new Starwood hotel. With the signing of the eight-year lease by Co-Op Financial, which is one of the nation’s largest credit union-owned electronic funds transfer networks, Hileman’s development is 75% leased.

Jack Hileman, founding partner and president of the Hileman Co., says that the company expects the remainder of the office space to be taken by build-out of the project in May 2007. The office component of the project consists of two three-story, 75,000-sf buildings now under construction.