20 and 30 Enterprise at Summit Office Campus Reaches 94% Occupancy With Six Recent Leases in Aliso Viejo, CA

ALISO VIEJO, CA (Aug. 30, 2011)  Summit’s 20 and 30 Enterprise are now at 94 percent occupied according to the development and management team of Parker Properties, and its partner, RREEF Alternative Investments.

 Over the last six months, there have been six leases signed totaling 140,596 square feet with Marvell Semiconductor, Inc., UST Global, Inc., AVANIR Pharmaceuticals, Inc., Telogis, Inc., Johnny Rockets Group, Inc., and Benefits Resource, LLC.

The 20 and 30 Enterprise buildings, which have obtained LEED Silver certification, are the latest buildings constructed in the Summit Office Campus (top left photo) in Aliso Viejo, a 1.7 million square foot mixed-use office campus featuring 11 low-to mid-rise office buildings.

The CB Richard Ellis leasing team of Ted Snell (lower left photo), Carol Trapani (middle right photo) Jake Stickel and Allison Schneider, represented Parker Properties and RREEF on all of the new and /or expanding lease transactions at the 250,803-square-foot phase encompassing two four-story buildings at 116,077 square feet and 134,726 square feet each.

The strong performance comes at a challenging time in the office leasing market. While the County is showing some stability in its overall office market, at second quarter 2011 the south Orange County submarket had posted a 15.3 percent vacancy rate, according to CB Richard Ellis market reports.

  “The vision for Summit was based on attracting industry-leading companies that want a great workplace at an amenity-rich location to attract and retain their best and brightest workforce.

“The caliber of firms in technology, pharmaceuticals, medical devices and ophthalmology that are now looking to Summit for corporate headquarters and regional offices is a direct reflection of the quality of both this campus and the local community of Aliso Viejo,” said Russ Parker (lower right photo) of Parker Properties.

 Existing tenant, Marvell Semiconductor, Inc., a Santa Clara-based leading fabless  semiconductor company, expanded into a total of 37,047 square feet of space in a five-year lease at 30 Enterprise. The move represented a 14,961-square-foot expansion for Marvell.

 The firm joined another existing tenant Bausch + Lomb, one of the best-known and most respected healthcare companies in the world. At the end of 2010, Bausch + Lomb had expanded from 24,628 square feet to a total of 60,583 square feet in 30 Enterprise when the firm chose to consolidate its national surgical group into the Aliso Viejo location.

 The firm also achieved LEED Tenant Improvement Gold Certification.

 “When you analyze the submarket, you’ll find that 20 and 30 Enterprise have done the most leasing in Aliso Viejo. It’s all driven by the area’s vibrant food, retail and hospitality amenities, along with  a superb location. It’s amazing to see the growth of technology, pharmaceutical and ophthalmology clusters at Summit. A first-class atmosphere attracts first-class companies,” added Ted Snell of CBRE.

For a complete copy of the company's news release, please contact  Darcie Giacchetto, Spaulding Thompson & Associates, 949-278-6224