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Resco Purchases Property, Plans Corporate Building

March 03, 1985

Resco Development of Newport Beach will break ground Monday for a six-building office center on a 14-acre site in the Irvine Business Complex purchased from Pepperidge Farm Inc. of Norwalk, Conn., for $9.5 million.

Resco has demolished the existing, 160,000-square-foot concrete tilt-up industrial building on the site and will develop a 285,000-square-foot master-planned corporate headquarters complex to be known as Carnegie Centre.

The parcel is on the southwest corner of Redhill and Carnegie avenues in Santa Ana. The buildings will range in size from 21,222 to 82,901 square feet and there will be 1,088 parking spaces. Four of the six buildings are scheduled for completion on Aug. 1 and the remaining two in June, 1986.

The $30-million loan for the project was supplied by First Interstate Mortgage. Architect of the complex is Banzuelo/Rierson Inc. and the general contractor is Prime Contractors, both of Orange.

The civil engineer is Dale Price & Associates, Santa Ana; the lobby area of each building will be designed by V. B. Interiors, Laguna Niguel, and the landscape architect is Richard Price & Associates, Laguna Beach.

Both parties to the land sale were represented by the Newport Beach office of Business Properties Brokerage Co., which was recently acquired by Daum Corp. of Los Angeles, and the leasing agent is Daum Business Properties, Newport Beach.

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