Work has begun on a 166,000-square-foot senior living community at the former Avery Plaza business center in Mission Viejo.
The project is a partnership among Confluent Senior Living, Concord Development Partners and MorningStar Senior Living.
MorningStar of Mission Viejo, which is being built on 3 acres of land at the intersection of Marguerite Parkway and Avery Parkway, will have 132 senior-living units for independent living, assisted living and memory care residents.
It’s MorningStar’s third community in California and its first in Orange County. It’s expected to open in early 2023.
The complex will offer studio, one- and two-bedroom suites. Outdoor space will include a pool, dog park, community garden and dining area. Residents can also partake in a spa and wellness center.
MorningStar of Mission Viejo, a senior-living community, has broken ground at the former Avery Plaza business center in Mission Viejo. The complex will offer studio, one- and two-bedroom suites. Outdoor space will include a pool, dog park, community garden and dining area. It’s expected to open in 2023. (Courtesy of MorningStar Senior Living)
Assisted living residents will have access to support through 24-hour staffing and full-time licensed nurses.
Orange County firms involved in the project include KTGY Architecture + Planning as the architect, Snyder Langston as the general contractor, and David Evans and Associates as the civil engineer.
Buchanan Street buys FV center for $24M
Newport Beach-based Buchanan Street Partners has bought E405 Euclid Shops in Fountain Valley for the $24 million.
The 91,517-square-foot retail center on Euclid Street is , near the 405 and sits on 5 acres of land. Tenants includes Sherwin-Williams, Guitar Center and Cort Furniture.
SRS National Net Lease Group represented Buchanan Street Partners as well as the seller and original developer, an unidentifed Southern California-based family trust.
Harbor buys AV office campus
An office campus in Aliso Viejo has been sold for undisclosed terms.
Harbor Associates and Singerman Real Estate bought the 297,277-square-foot Summit IV office complex in an off-market transaction.
Harbor said it will begin renovations at the property, which is 80% leased. The enhancements will focus on improved workplace wellness and creating new on-site amenities in the outdoor courtyard. Interior improvements will include a new lobby and move-in ready suites.
“Our plan is to reimagine this project while celebrating its current design and introducing a focus on health and wellness in the workplace by incorporating relevant lifestyle and recreational amenities that offer the type of work-life balance many desire as they return to the office,” said Rich McEvoy, Harbor Principal.
New hires at CREDE
Irvine-based CREDE, a commercial real estate development and construction management company, has added three hires who will help the firm grow in key markets.
Tim Cromwell joined CREDE as a director of strategic development. He worked previously at RD Olson Construction and Hopkins Development and brings 30 years of experience in the hospitality, retail, and multifamily residential markets.
Cody Wagner will serve as a project manager for the firm’s Construction Advisory division. Previously he worked at The Irvine Co., where he oversaw reinvestments and redevelopments of office and other commercial properties.
Jon Moyer joins the team in the newly created position of vice president of acquisitions, after more than seven years in Hawaii as director of investments for Alexander & Baldwin. He will focus on the acquisition of multi-family and industrial properties along with land that CREDE can develop in Texas. He will be based in Irvine.
New VP at Sares Regis
Jeff Condon has joined Sares Regis Group’s multifamily property management division, SRG Residential, as vice president of business development. He will be based in SRG’s Newport Beach headquarters and will look to “expand strategic relationships throughout California with new and existing clients,” according to the firm.
Condon has 13 years of experience in residential and commercial real estate with a focus on managing apartment communities, condominiums and residential subdivisions. He was previously a principal at SagePoint.