Construction is about 50% completed at Summit Oaks, a $25 million project that will be visible from Interstate 5, notes Kevin McKenzie, president of Parker Properties. The office development is designed to accommodate tenants ranging from small companies to mid-sized and large businesses.
The Summit Oaks site is at the entrance to Valencia Gateway, a master-planned development for business, technology and industry that comprises more than 5,000 acres, 23 million sf, 1,430 companies and 45,000 employees. The Parker Properties development site for Summit Oaks is also at the entry of Newhall Ranch, a master-planned community development project that will ultimately include 21,000 homes.
The new office building will be situated on a parcel of nearly 4.3 acres, with 28,000-sf floor plates, a ground-floor lobby, a two-level parking structure, a two-story atrium and landscaping throughout. The Summit Oaks site is adjacent to Courtyard by Marriott and Embassy Suites, close to retail, dining, entertainment and recreation amenities including Valencia Town Center Regional Mall, Valencia Marketplace, Valencia Crossroads, four golf clubs, community parks and the Paseo Club tennis and swim facility.
Parker has named Doug Marlow and David Solomon of CB Richard Ellis as leasing agents for Summit Oaks. Marlow says that the project is expected to attract local companies as well as Los Angeles-based users seeking a location that offers "a strong labor base with more affordable housing options for its employees." Additionally, with a tight Los Angeles office market and climbing rents, many companies are considering relocations to suburban areas like Valencia, Marlow says.
Snyder Langston is the general contractor for Summit Oaks and Ware & Malcomb is the architect. In addition to Summit Oaks, Parker's current efforts include the development of the five-phase, 1.8-million-sf Summit Office Campus in Aliso Viejo.
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