Coreland Companies Negotiates Lease with Platt College at
One Pacific Plaza Office Center in Huntington Beach
* * *
Lease valued at $7.2 Million
Coreland Companies of Tustin, Calif., one of the largest real estate service companies based in California, announced that its leasing / sales division has negotiated a lease with Platt College at One Pacific Plaza, a 400,000-square-foot, 12-story office complex located in Huntington Beach, Calif.
As the exclusive leasing agent for One Pacific Plaza, Steven Hogberg of Coreland Companies negotiated an eight-year lease with Platt College to occupy the fourth and fifth floors of the 7755 building, totaling 35,272 square feet. The lease is valued at approximately $7.2 million. Platt College, a nationwide college with three campuses in California, was represented by Ned Franke of Cushman & Wakefield in Chicago, IL. The landlord is Mullrock 1 – Beach Pointe, LLC.
“We had competing proposals for this space and we elected to go with Platt College for numerous reasons, but namely their history and outstanding reputation in the education field,” says Coreland’s Leasing / Sales Division Vice President Steven Hogberg. “We are very pleased with the use and look forward to having Platt College soon occupy these two floors in our building.”
This is a relocation and expansion of the campus that was formerly located in Newport Beach. Platt College currently has campuses in Los Angeles, Ontario and San Diego. Platt College at One Pacific Plaza is expected to open in November 2005, upon completion of their classroom improvements.
One Pacific Plaza is located at 7711, 7755 and 7777 Center Avenue in Huntington Beach, adjacent to the new one million-square-foot Bella Terra Retail Center that is under construction. "Additionally, in the first quarter of 2006, One Pacific Plaza will have three and a half floors available totaling 60,000 square feet," notes Hogberg.
"West Orange County office properties continue to be an increasingly favored location for firms who realize excellent value for their lease dollars along with more favorable commuting between Orange and Los Angeles counties," Hogberg adds.