Construction begins this week on the fourth of 10 buildings planned for the $500-million Pacific Gateway Center being developed in Torrance by Cadillac Fairview/California Inc.
The building, Gateway 4, is the twin to Gateway 3, completed a year ago and with more than 80% of its space leased or committed, and is the first building to be built by the firm's newly organized Urban Development Business Unit, according to Stanley V. Michota Jr., senior vice president and head of western urban operations at Cadillac Fairview/California.
Cadillac Fairview/California Inc. is a wholly owned subsidiary of the Cadillac Fairview Corp., Toronto, Canada.
Cadillac Fairview Urban Development, under the direction of President Michael V. Prentiss, has under development and operation a portfolio of more than 30 million square feet of space, with a current construction program of $1.5 billion. In terms of dollar assets, it is the largest of the three-business units of the parent firm.
Quality Location, Design
Construction of a $20-million, 275-unit Embassy Suites Hotel is scheduled to begin next fall in the center at 190th Street and the San Diego Freeway, Michota said. Completion is targeted for the summer of 1988.
He added that Gateway 1 and 2, the first two buildings in the 270-acre project near the intersection of the San Diego, Harbor and Artesia freeways, were fully leased before construction was completed.
"Gateway 3 was successful in the South Bay's current market because of its quality location and quality building design, both in terms of functionality and aesthetics," he said. "Pacific Gateway Center, which has long been a mecca for high technology industries, has more recently been attracting a blue-chip roster of America's finest electronics, telecommunications and computer firms, together with fast growing companies in service industries."
Tenants in the first three buildings in the complex include American Honda Co., Gould Inc., Rolm Corp., Eastman Kodak, TRW, Boeing, Bell & Howell/Columbia Pictures, 1st Business Bank, Security Pacific Bank, Cartwright Associates, California Medical Review and Sunrise Medical.
Large Open Spaces
Designed by Maxwell Starkman & Associates, the $25-million, 216,000-square-foot Gateway 4 building is scheduled for completion in April, 1987. Each floor of the nine-story structure will have 24,200 square feet, with large column-free open spaces for flexible space planning and up to 16 corner offices, according to Robert K. Wiberg, Cadillac Fairview's project manager.
The general contractor is Turner Construction Co. Consultants include John A. Martin & Associates, structural engineers; Levine/Seegal Associates, mechanical and electrical engineers; Psomas & Associates, civil engineers, and John Wolcott Associates Inc., space planners.
The South Bay office of Coldwell Banker Commercial Real Estate Services is the leasing agency.