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Schneider Firm Buys Assets of Hutton Center

March 10, 1985

Schneider Financial Services of Los Angeles has acquired the assets of Hutton Center in Santa Ana and Hutton Associates, the operating company, in a transaction valued at more than $50 million, according to Lane Elliott, Schneider Financial Services president.

Hutton Center, at the Newport Freeway and MacArthur Boulevard near John Wayne Airport, consists of two office buildings--one under construction and one completed--totaling 600,000 square feet; two restaurants under construction, and 18 improved acres of land. Hutton Associates is a real estate development and property management company.

With these acquisitions, a new entity--Schneider/Hutton Associates--has been formed with Chris Felix as president. With the additional acquisition in January of Farr & Stone, insurance brokers, with offices in Pasadena and Newport Beach, Schneider Financial Services, owned by a large entity headed by entrepreneur Frank Schneider in Pennsylvania, is now a full service commercial real estate brokerage firm.

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