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Parker Properties Announces Summit Oaks Is 50 Percent Complete; The Class A Office Property In Valencia, Calif., Will Feature Sustainable Design

ALISO VIEJO, CALIF. (December 12, 2007) – Parker Properties, a commercial real estate firm dedicated to developing high-quality, tenant-oriented work environments, has announced that construction of Summit Oaks is 50 percent complete.  Summit Oaks is a five-story, Class A office property totaling 144,000 square feet, within the master planned community of Valencia and will feature sustainable design, targeting a silver LEED rating. When certified, Summit Oaks will be the only LEED office building in the market.

Located at 28515 Westinghouse Place in Santa Clarita, Calif., the property offers easy access to Interstate 5 and is just 30 miles north of Downtown Los Angeles.   Summit Oaks, which is valued at approximately $25 million upon final build out, is slated for completion in mid-April 2008.

“Parker Properties designed Summit Oaks to provide its tenants with a highly functional, attractive and environmentally conscious work environment within the amenity-rich community of Valencia,” said Kevin McKenzie, president of Parker Properties.  “The Summit Oaks project is further testament that we are committed to developing work environments with features that help our tenants retain their best and brightest people and attract the finest new employees.” 

McKenzie also noted that Summit Oaks presents companies with the opportunity to elevate their corporate identity in a first-class property that is also the area’s most visible office building from Interstate 5. 

Summit Oaks will include sustainable, or “green” features, targeting a silver rating of Leadership in Energy and Environmental Design (LEED) certification, a system that provides independent, third-party verification that a building project meets the highest green building and performance measures by the U.S. Green Building Council. 

Summit Oaks will incorporate numerous sustainable features, including but not limited to: certified cool roofing system; on-site storm water drainage filtration system to manage storm water runoff; water efficient, drought tolerant landscaping; eco-friendly HVAC and refrigerant equipment; recycled structural steel used in building structure; indoor environmental quality strategies, such as carbon dioxide monitoring systems, the use of low emitting materials, exhaust ventilation at chemical storage closets, and beyond standard air handler filters; and green housekeeping and site maintenance programs will be implemented by Parker Properties to assure future low impact environmental cleaning policies.  Additionally, Parker Properties will provide tenants with tenant improvement design and construction guidelines to assist in the adoption of green tenant improvements.

Doug Marlow, executive vice president, and David Solomon, senior vice president, of CB Richard Ellis are responsible for leasing Summit Oaks.  Snyder Langston is the general contractor and Ware & Malcomb is the architect for Summit Oaks.

Summit Oaks is in a prime location at the entrance to Valencia Gateway, Los Angeles County’s largest and most desirable master-planned development for business, technology and industry.  Valencia Gateway encompasses more than 5,000 acres, 23 million square feet, 1,430 companies and 45,000 employees.   Summit Oaks is also positioned at the entry of Newhall Ranch, a master planned community development project that will ultimately include 21,000 homes. Within a 45 minute commute, Summit Oaks is accessible to a population of 3.3 million and a labor base of 1.85 million people.  

Besides the property’s premium location, Parker Properties has created an exceptional office environment on 4.29 acres with interiors that feature flexible, 28,000-square-foot floor plates, first-class common areas, an elegantly finished ground floor lobby with two-stor

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