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The new millennium has started off right for the folks at Coreland Carlson.
The Tustin-based property-management and real estate brokerage firm has won eight new property-management contracts in Southern California during the first quarter of 2000. The new contracts,totaling 1.27 million square feet of retail, industrial and office space bring the company’s total management portfolio to 13.6 million square feet.
In Orange County, Coreland Carlson added an industrial park in Anaheim owned by Catellus Development Corp. That and another Catellus Development industrial park in Santa Fe Springs account for 270,000 square feet of new work.
In West Los Angeles, Coreland Carlson was tapped by Champion Development Group to oversee the One Westside and Brentwood Place retail centers. Also in Los Angeles County, Coreland Carlson won a 226,000-square-foot job from Costco and a 150,000-square-foot contract from Nationwide Insurance Co.
In the Inland Empire, Holualoa Real Estate and Heller financial awarded Coreland Carlson contracts totaling 470,000 square feet.
Smaller jobs throughout Southern California for Founder’s financial round out the company’s first-quarter property-management business.
The brokerage side of the business has similarly seen a boost in business lately. Coreland Carlson completed 41,000 square feet of leasing and sales transactions recently throughout Southern California. Additionally, the company was chosen as exclusive listing agent for the 182,000-square-foot McFadden Center, an industrial and retail complex in Santa Ana.
Youngquist Breaks Ground
Costa Mesa-based Andrew L. Youngquist Construction has broken ground on the 65,000-square-foot Imperial Park Senior Care Community, a $10 million assisted-living project in Whittier. The company is building the project for Newport Beach-based Birtcher Senior Properties.
The Park Senior Care Community, on 2.2 acres at the corner of Imperial Highway and Burgess Street, will feature 85 units with a total of 105 beds. The project is scheduled to be completed in October.
CT Cashes Out of Dunn Site
Rule No. 1 in real estate investing: Buy low, sell high.
CT Realty Corp. has sold the 59,830-square-foot Dunn Way Industrial Park in Placentia for $3.1 million to Costa Mesa-based Frome Omega Developments LLC, walking away with a tidy $650,000 profit.
The Newport Beach-based real estate development and investment company acquired the property in March 1999 for $2.45 million as part of a $10 million portfolio purchase from Glenborough Real Estate Investment Trust.
Johnny Eubanks of Lee
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