Our focus is on middle market development opportunities. Our desired project size has a pro-forma cost of $10 million to $50 million, with an equity requirement between $3 million and $20 million.
Our market focus for commercial development is in expanding second tier markets such as San Diego, the Inland Empire, Bakersfield and Sacramento. Our goal is to locate growing markets that require product solutions that are larger and more complex than most local developers can handle. Our aim is for office project sizes in excess of 100,000 square feet and individual building sizes of 50,000 square feet and larger. As in office development, our focus in industrial development is on the middle market opportunities. Our aim is for project sizes of 300,000 square feet and larger.
Our market focus for mixed-use development is on larger sites in urban markets undergoing the early stages of gentrification. The redevelopment of these sites offers an opportunity for smart growth; creating sustainable communities while taking advantage of existing infrastructure and public facilities. We focus on sites of 1 acre or larger that can be developed to a mix of office, retail and residential uses.
We are also focused on the redevelopment of brownfield sites in high value markets where there is abandoned, idled or underused property with real or perceived environmental contamination. We target sites of 10 acres or larger and pursue vertical development where possible.
Following is a representative sampling of some of our current projects.
| Tapestri Square |
 Bounded by 20th and 21st Streets and T and U Streets in downtown Sacramento, this residential project will feature 58 single family detached residences ranging in size from 1,200 square feet to 2,600 square feet. Designed to complement the surrounding residential neighborhoods by incorporating the historical feel of a brownstone village, the project will be marketed to professionals and state office workers. Models are open for sales and the first phase of production units are under construction.
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| Kearny Mesa Corporate Center |
 Located in the desirable Kearny Mesa submarket of San Diego, Kearny Mesa Corporate Center, totaling 480,000 square feet of Class A office, is being designed with four 4-story multi-tenant office buildings. With excellent freeway access and surrounding amenities, the project will be marketed to large corporate users as well as professionals. Construction is scheduled to begin in late 2009. |
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| Crystal Creamery |
Located at Crystal Cream & Butter Co.’s former manufacturing site in the historic industrial Alkali Flat area of downtown Sacramento, this 8.2 acre site will integrate commercial and residential uses in a cohesive master plan. Three hundred residential units and 100,000 square feet of commercial office will be connected by walkways and open space. Construction is scheduled to begin in the fall of 2008.
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| Progress Road Industrial Center |
Located at Panama Lane and Progress Road in Bakersfield, this 19 acre site will be developed into approximately 20 parcels ranging in size from 24,000 square feet to 41,000 square feet with building sizes ranging from 5,000 to 15,000 square feet. These parcels will be marketed to light industrial and office/warehouse owner/users. Sales are scheduled to begin in third quarter of 2008.
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| Gosford Road Office Park |
Located at Panama Lane and Gosford Road in Bakersfield, this 22 acre site will be developed into a master planned office park offering one and two story buildings ranging in size from 8,000 to 20,000 square feet. These buildings will be marketed to office owner/users. Sales are scheduled to begin in third quarter of 2008.
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| Gardena Marketplace |
This 3 acre site is located at the intersection of Artesia Boulevard and Normandie Avenue in Gardena, which is in Los Angeles County. Located just 6 miles from the Pacific Ocean, this formerly industrial area is being redeveloped as a mixed-use retail center as part of a 33 acre specific plan adopted by the city. Discussions are currently underway with the city, environmental regulatory agencies and adjacent property owners as to the terms of a coordinated remediation/redevelopment effort.
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| Gateway Logistics Center |
This 320 acre project is located in Kern County, just north of Los Angeles and the ports of L.A. and Long Beach. It is adjacent to the Union Pacific Railroad and has easy access to state Highway 99 and Interstate 5. Planned for 500,000 square feet of industrial and warehouse use, construction is scheduled to begin in the fall of 2008.
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