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Parker Properties Breaks Ground on Summit Oaks, a 144,000-square-foot Class A Office Property, Within the Community of Valencia in Santa Clarita, California

Summit Oaks Offers a High-Quality Building in a Prime Location That Has a Labor Base of 1.85 Million People Within a 45 Minute Commute

ALISO VIEJO, CALIF. (June 5, 2007) – Parker Properties, a commercial real estate firm dedicated to developing high-quality, tenant-oriented work environments, has broken ground on Summit Oaks, a five-story, Class A office property totaling 144,000 square feet within the master planned community of Valencia. 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. The property is slated for completion in mid 2008.

Doug Marlow, executive vice president, and David Solomon, first vice president, of CB Richard Ellis are responsible for leasing Summit Oaks.

“Summit Oaks presents a large user or small to mid-sized companies with the opportunity to elevate their corporate identity in a first-class office environment,” said Kevin McKenzie, president of Parker Properties. “Summit Oaks will be the area’s most visible office building from Interstate 5, offering a large tenant the additional benefit of building signage seen by tens of thousands of people every day.”

McKenzie added that 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.

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-story atrium, plentiful light and natural finishes. The outdoor environment includes outdoor “people places,” lush, mature landscaping, water features and a two-level parking structure which offers covered parking.

“We have already seen substantial interest from local companies as well as Los Angeles-based users seeking a location that offers a strong labor base with more affordable housing options for its employees,” said Marlow. “Additionally, with a tight Los Angeles office market and climbing rents, many companies are considering relocating a short distance to suburban areas such as the amenity rich community of Valencia.”

According to Marlow, 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. Additionally, the Santa Clarita Valley is continuing its growth trend with a current population estimated at 200,000 that is expected to grow to 507,000 by the year 2020.

“Parker Properties has built a strong reputation for developing thriving work environments that cater to the needs of the tenants who occupy them,” said McKenzie. “The community of Valencia encompasses all the quality of life components we look for in creating the ideal place to work. Inviting residential communities, successful schools, parks, retail, recreation centers and other important supporting services are all in place, offering the complete employee friendly package.”

Summit Oaks is adjacent to Courtyard by Marriott and Embassy Suites and is just minutes from a large amount of retail, dining, entertainment and recreation amenities including Valencia Town Center Regional Mall, Valencia Marketplace, Valencia Crossroads, four golf clubs, community parks and The Paseo Club - a tennis, swim and fitness facility – to name a few.

Companies who have already relocated or expanded at Valencia Gateway include Warner Bros., Princess Cruises, Kaiser Permanente, KPMG Future Media, ITT, Pharmavite, Qiagen, Inc., Remo, Inc.,

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