Steel Rises at Summit's Pacific Life Tower

ALISO VIEJO, CA-One of the final phases of the 1.8-million-sf Summit Office Campus moved a step closer to completion recently when developer Parker Properties began hoisting the steel into place for a 250,000-sf building that will house new Pacific Life Insurance Co. offices. Kevin McKenzie, president of Parker Properties, tells GlobeSt.com that when the Pacific Life building and two other buildings totaling 260,000 sf of spec office space now under construction at the Summit campus are completed, the developer will have only 211,000 sf of office space remaining for development at the 65-acre project at Aliso Viejo Parkway and Enterprise.

The nine-story Pacific Life building, a build-to-suit for the insurance company, is due to be completed in 2008 and will house some 1,100 Pacific Life employees in what will be the tallest building in the suburban Aliso Viejo market. The Pacific Life building is at 45 Enterprise, and the two spec buildings, four stories each, are at 20 and 30 Enterprise.

The new office space will join another phase of the Summit that is now under construction, a Renaissance/ClubSport full-service 174-room hotel and fitness resort that is due to be completed in January. Once the new offices and the Renaissance are in place, the only building remaining to get under way at Summit will be an eight-story, 211,000-sf office tower at 35 Enterprise.