Palm Terrace, a 155,795-square-foot Class A office campus with three, two-story buildings, has been sold for $40.45 million in Lake Forest.
Newmark Knight Frank negotiated the sale on behalf of the seller, Bailard Real Estate Fund. The buyer, Kingsbarn Real Estate Capital, was self-represented.
The property at 25521, 25531 and 25541 Commercentre Drive, is nearly fully leased to Del Taco, PGM Holdings, Hometown Equity, Citadel Servicing and Anyone Home.
Amenities include new landscaping, an outdoor common area and courtyard and energy-efficient lighting.
Newmark’s Jay Nugent and Greg Puccinelli are the leasing agents for the campus.
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Work begins on Irvine school
C.W. Driver Cos. has started construction on Solis Park School, a K-8 school in Irvine Unified School District.
Solis Park, in District 5 of the Great Park Neighborhoods, will have seven buildings in 103,000 square feet with room for 1,000 students who live in the Rise community and other neighborhoods coming to the Heritage Fields development.
In addition to a childcare facility for faculty and staff, the school will have a full-court gym, admin building, multipurpose room, labs, classrooms, a commissary and a parking lot.
C.W. Driver Cos. expects the project will be done in time to open for the 2022-2023 school year.
The builder is partnering with PJHM Architects on the project.
On the move
Cushman & Wakefield has added an appraisal team to its Irvine office. The four-member team includes Daniel J. Sydor, executive director, Randy Fitch, senior director, Heather Cotton, associate director, and Gabrielle Maddocks, appraiser. The team will focus on appraising retail commercial real estate throughout California and other large metro areas in the Southwest.
Enrique Ceniceros has joined Taylor Design as Science and Technology Studio director. His specialty, with 28 years of experience, is adapting commercial and historic structures into modern research and manufacturing facilities. His projects have included education research and learning environments, bio-pharmaceutical facilities, biomedical R&D laboratories, commercial R&D facilities, manufacturing facilities and engineering laboratories. Ceniceros previously was the regional leader for Science and Technology for HOK in Los Angeles.
Regina VanderWerff has joined Sundt Construction as a business development representative in its Irvine office. She will provide support to the district’s leadership with client engagement and community relations. She has seven years of business development experience throughout Southern California with experiences in hospitality, senior housing, K-12 education, higher education, science and technology, office, civic, aviation and affordable housing.
Eric Lockwood has been promoted to director of design for Tangram Technology at Tangram, a Newport Beach-based commercial interior environments and workspaces design firm. He has some 27 years of experience in technology consulting and will focus on design innovation and customization for clients. Lockwood’s clients include the Writers Guild of America, Chapman University & CoreLogic.
Milestones
SVA Architects in Santa Ana has earned four 2021 Gold Nugget Awards of Merit. The firm has received Gold Nugget honors every year since 2015 for projects on performing arts centers, multi-family, affordable, and student housing projects.
SVA’s 2021 Gold Nugget Awards of Merit include:
- Woodbridge High School Performing Arts Center (Irvine) – Best Special Use Project
- Fruitvale Transit Village Phase IIB (Oakland) – Best On-the-Boards Affordable Housing Community
- The Reserve at Seabridge Marina (Oxnard) – Best Multifamily Housing Community
- San Diego State University South Campus Plaza (San Diego) – Best Student or Faculty Housing
The 58th competition drew more than 600 entries from around the world.
Design scholarships
LPA Design Studios in Irvine has named its first recipients of a scholarship program for students in historically underrepresented demographics pursuing a degree in architecture, engineering, interior design or landscape architecture.
The program is aimed at providing long-term financial aid and mentorship for recipients, LPA said in a statement.
The LPA Interdisciplinary Diversity Scholarship Program awarded five high school seniors in California (2) and Texas (3) with $5,000 scholarships, renewable for four to five years, depending on the degree. The two California recipients will be attending UC Berkeley and San Jose State University.
In addition to financial aid, students will be matched with LPA designers as mentors with the opportunity for paid summer internships at LPA.
“This scholarship program reflects our larger efforts to support a more diverse generation of professionals who will help foster a greater design perspective,” said Wendy Rogers, CEO and chief talent officer at LPA Design Studios. “We are committed to advancing the diversity, equity and inclusion of the architecture, design and engineering disciplines.”
Real estate transactions, leases and new projects, industry hires, new ventures and upcoming events are compiled from press releases by contributing writer Karen Levin. Submit items and high-resolution photos via email to Business Editor Samantha Gowen at sgowen@scng.com. Please allow at least a week for publication. All items are subject to editing for clarity and length.
Source: Orange County Register
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