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Steel Is Going Up On Nine-Story Pacific Life Insurance Building at Summit Office Campus

Property Will Be Aliso Viejo's Tallest Building

(ALISO VIEJO, CALIF., April 11, 2007) Parker Properties, an Aliso Viejo-based real estate development and investment company, has announced that steel is going up at 45 Enterprise at Summit Office Campus, a 1.8 million-square-foot mixed-use development in Aliso Viejo. This new activity is for construction of a nine-story office building totaling 246,000 square feet. In early 2008, Pacific Life Insurance Company will locate approximately 1,000 employees from its Foothill Ranch and Newport Beach locations.

Key Facts:

  • Property will be the tallest building in Aliso Viejo
  • 300-foot “crawler crane” is being used to construct the steel structure (crawler crane is a crane that is on tracks so that it can easily move back and forth)
  • Steel construction is just being completed on the third floor
  • Nine-story building will be completed and ready for move-in February 2008

Other Summit Office Campus Development Updates:

  • Ready for move-in Summer 2007, Summit Office Campus’ latest office cluster at 20 & 30 Enterprise is 260,000 square feet in two, four-story class A office buildings. This phase will feature a restaurant and three water features with a stunning 40-foot water wall.

  • Now under construction with completion expected January 2008 is Renaissance/ClubSport®, a full-service hotel and world class fitness resort located adjacent to 20 & 30 Enterprise. The first of its kind in Southern California, the Renaissance/ClubSport® combines an upscale multipurpose sports club and four-diamond boutique hotel to meet the needs of discerning business and leisure travelers.

About Summit

Developed by Parker Properties, the lushly landscaped Summit Office Campus in Aliso Viejo is a master-planned, 1.8 million-square-foot mixed-use office campus that includes a 174-room Renaissance/ClubSport ® spa-style hotel and fitness resort, restaurant and serene outdoor areas including walkways, ponds and sitting areas. With a high-profile location on the 73 Corridor, and easy access from the nearby I-5 and I-405 Freeways, Summit Office Campus offers outstanding connectivity for tenants, clients, employees and visitors with Orange County’s John Wayne Airport just 12 minutes away. Summit is now one of the area’s most prominent business centers, attracting leading edge companies and well-known corporations including Pacific Life Insurance Company, Lennar Homes and QLogic.

About Parker Properties

Parker Properties is a commercial real estate firm dedicated to creating great places to work. The firm specializes in office campus development and redevelopment in master planned communities. Based in Aliso Viejo, California, the company was formed in 1976 in response to the challenges of a changing marketplace and has succeeded in meeting tenant demands and needs for flexibility within campus settings. Parker Properties, and its partners, currently have projects in Orange County, Valencia, and the Inland Empire. The firm is comprised of specialists in development, construction management, asset management, property management, and real estate finance who combined, have developed and acquired 11 million square feet of office, industrial and retail projects throughout California.