For the first time, Foothill Ranch Co., developer of the 2,743-acre community of Foothill Ranch, is venturing outside its master-planned community.
The company has signed a deal to manage and market 70 acres of commercial property in the Lake Forest community of Baker Ranch. The developer will be responsible for marketing, leasing and developing a major corporate center in the 765-acre Baker Ranch development.
"The Baker Ranch project represents a first step in Foothill Ranch Co.'s plan to broaden the scope of its operations beyond the Foothill Ranch community," said Dougall Agan, vice president of marketing for the Foothill Ranch Co.
Real estate brokers hope to market the property to several commercial, retail and industrial companies. Bank of America acquired the Baker Ranch property in June 1995 and hired Foothill Ranch, an affiliate of Laguna Hills-based Hon Development, to manage the property.
Debora Vrana covers real estate for The Times. She can be reached at (714) 966-5979 and at firstname.lastname@example.org