SAN DIEGO—TRI Pointe Homes Inc. through its San Diego-based homebuilding division, Pardee Homes, has completed the sale of a 15.72 acre employment center located in its Pacific Highlands Ranch master plan community in San Diego County to a subsidiary of Lincoln Property Company.
“We are very pleased to have such a prestigious and experienced developer on board to build out the employment and R&D hub of our Pacific Highlands Ranch master plan community,” said TRI Pointe president, Tom Mitchell. “This employment center will be an excellent complement to the current and future neighborhoods, parks, and shopping centers located in the area.”
In July 2014, TRI Pointe completed the acquisition of Weyerhaeuser Real Estate Company (WRECO) and its five homebuilders, including Pardee Homes. “The sale of the Pacific Highlands Ranch employment site is a great example of our commitment to unlocking the embedded value from the land that we acquired with the WRECO transaction,” said TRI Pointe CEO, Doug Bauer.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
