Among reasons for the move, according to Colm Macken, president and CEO of Shea Properties, is that the company foresees strong growth over the next five years, with internal expansion expected to grow by 20% to 25% during that time. The Vantis project, which Shea is developing on 40 acres, includes more than 400 residential units that Shea Properties is developing on the site.

Shea's new space at 130 Vantis is in a recently completed three-story, 78,368-sf building, where the development and investment firm has relocated approximately 115 employees. Shea's previous space at 26840 Aliso Viejo Parkway will be occupied by storage technology firm SiliconSystems Inc.

Macken, commenting on what he says will be substantial growth at Shea Properties over the next several years, says that the company plans to double today's $2-billion portfolio to $4 billion in five to six years. The 20% to 25% internal growth over that time will be required in order to accommodate the project growth, Macken explains.