FINAL PHASE AT SUMMIT

Final Phase at Summit Office Campus - Parker Properties

The Next Great Workplace at Summit - Summit (Phase 7)

The subject parcel is located at the northwest corner of Aliso Viejo Parkway and Enterprise in the city of Aliso Viejo, California.

This is the final phase of the 1,600,000 square foot Summit Office Campus. The 5.12 acre site is graded and finished. The land is fully and flexibly entitled for 220,000 sf of corporate headquarter type office space and retail-commercial uses under an approved Specific Site Plan. The property is owned free & clear by an LLC partnership of Parker Properties. The allowable FAR is .98 and there are 822 parking stalls (3.8/1000 r.s.f. parking ratio) currently planned in five level parking structure.

The last development at Summit office campus has been schematically planned for a six story 170,000 sf “build to suit” office tower, 35,000 sf of creative office, and +15,000 sf of retail and hospitality space. However, we are pleased to be flexible and open to discussing building densities and massing, design, and construction costs to better meet the major tenant needs and preferences. We have found that the transparent approach the best for all parties of the build to suit, whereby all preconstruction and construction costs, schedules, contracts are open book, full disclosure, and approved by the tenant.

The ownership is willing to offer the major tenant the ultimate flexibility of owning or leasing their
facility as:

  1. long term lease, or
  2. lease with an option to purchase
  3. post completion sale.

Summit Campus, Aliso Viejo, and Parker Properties have proven to be the fastest build to suit combination available in Orange County. Pacific Life Insurance’s nine story shell + core building, all the site work, their tenant improvements and 7 level parking structure was completed in 14 months in 2007-08. Parker Properties and the Summit team have been designing, entitling, developing, operating, and learning from the Summit Campus since 1996. We have built space in 14 buildings, 5 parking structures, and 8 water features to date
at Summit.