SARES•REGIS Group Developing Orange County's First Speculative Green Industrial Project
SARES•REGIS Group of Irvine, Calif., plans to break ground this fall on three Class-A industrial buildings totaling 120,000 square feet in Anaheim, Calif. The buildings are registered with the United States Green Building Council and will be the first speculative green industrial buildings in Orange County.
The project continues SARES•REGIS Group’s commitment to develop energy-efficient real estate projects and will be built to meet environmentally sustainable specifications needed for certification by the USGBC.
There are several architectural features in this project in addition to its cost-saving location that should assure its success, company officials said. Additionally, it is in a market with the county’s lowest industrial vacancy rate, 4.97 percent, and the largest industrial base. But what will put the project in a class by itself is it will be constructed to earn the USGBC’s rating for Leadership in Energy and Environmental Design.
“Green and sustainable commercial buildings are what companies want. Green buildings cost less to operate, and companies want to be recognized as socially responsible by their employees and customers,” said John Hagestad, managing director of SARES•REGIS Group.
Completion is planned by mid-2010. The 6.3-acre site is on the southeast corner of Miraloma Avenue and Miller Street. It is in Anaheim’s “Canyon” district, a 2,600-acre redevelopment area where the city “has spent millions on infrastructure improvements. The city’s redevelopment agency has put all the pieces in place to encourage and support new development,” Hagestad said.
The project will consist of one 60,000-square-foot building and two 30,000-square-foot buildings with about 2,000-square-feet of mezzanine and improved office space. The larger building will have a private truck court with six dock-high bays and one grade-level door. The smaller buildings will have three dock-high bays and will share a secured truck court. Truck courts will be paved with concrete instead of asphalt, reducing the heat-island effect.
The buildings will have 30-foot clear height, heat- and light-reflecting “cool roofs” and T-5 interior fluorescent fixtures on sensors, dramatically reducing electricity demand.
Other green features will include: high-efficiency exhaust fans with energy conservation controls; high-performance glazing to minimize heat gain; deep overhangs at glazed entry areas; recycled water system for landscape irrigation; drought-tolerant landscape design and materials; pervious asphalt and storm-water reclamation to aquifer via Maxwell drains, percolation ponds and swales; roof drain water impoundment for percolation to aquifer; passive switching controls for outdoor lighting; low VOC paint; low Nox output during grading and recycled steel trusses.
Hagestad said the project will provide a solution for a growing number of companies particularly publicly owned firms that have a corporate mandate to buy or lease green buildings.
“Being green is just responsible and intelligent corporate governance,” Hagestad said.
Brad Bierbaum of CB Richard Ellis, who is marketing the project for SRG, said the building sizes are perfect for the market. Buildings in the 30,000 to 50,000-square-foot range are the first to be absorbed, he said.
Additionally, the project is in “business friendly” Anaheim, which offers green building incentives and has its own electric utility. Consequently power costs are about 20 percent less than from Southern California Edison. “If you’re doing business in north county, Anaheim is where you want to be,” Bierbaum said.
Because of the many planned energy-saving features, the buildings’ operation costs will yield big savings to the owners or tenants.
Bierbaum also said the project is close to a commuter train station served by Metrolink, which recently increased the number of inbound morning Inland Empire trains from eight to 30.
SARES•REGIS Group is one of the leading developers and managers of commercial and residential real estate in the western United States. Currently, the company has more than 4 million square feet of commercial industrial in the entitlement process and 1,962 residential units in pre-construction and development. SARES•REGIS Group has a combined portfolio of property and fee-based assets under management valued at more than $4 billion, including 15 million square feet of commercial and industrial space and 16,139 rental apartments.