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Commercial Real Estate

Towne Centre Plaza Construction Begins

November 10, 1998|MICHELLE MALTAIS

Construction has begun on three office buildings in the master-planned community of Foothill Ranch.

Towne Centre Plaza will add 214,000 square feet of office space to south Orange County at the corner of Bake Parkway and the Foothill Transportation Corridor. Each of the center's three-story buildings will have about 70,000 square feet. No tenants have been signed.

The $40-million center is being built on 30 acres as the last phase of a 10-year plan to develop 3,000-acre Foothill Ranch, a self-contained residential and business community.

The office center will court such tenants as financial institutions and insurance and mortgage companies, said Dougall Agan, project manager and vice president of Foothill Ranch Co.

Laguna Hills-based Foothill Ranch Co. and Santa Ana-based Operon Group are developing the project.

Towne Centre Plaza is expected to be completed by April 1999.

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