Cayman Development Co., a home builder based in Rolling Hills Estates for the past 18 years, has relocated to an office building it recently purchased at 18012 Cowan St., Irvine.
Cayman bought the two-story, 27,000-square-foot building for $2.8 million and will rent out about two-thirds of the available space to other firms. A Cayman spokeswoman said the company moved because most of its future projects will be in Orange County rather than Los Angeles County.
Cayman is already building a 127-acre residential project in Huntington Beach, where it has sold 76 homes this year for a total of about $33 million. The spokeswoman said the firm is negotiating for "a few other" Orange County parcels, as well.