FivePoint Holdings, a developer known for its large mixed-use communities, has recently submitted plans for new industrial development on nearly 40 acres of commercial land in its Great Park Neighborhood in Irvine. According to a recent report from the Orange County Business Journal, the company has submitted plans for two industrial projects totaling a combined 700,000 square feet.
The pair of industrial proposals are for a 31.8-acre parcel of land at the corner of Bake Parkway and the Santa Ana Freeway as well as a six-acre plot of land at the corner of Alton Parkway and Muirlands Boulevard.
The proposal for the larger of the two sites is for the development of 599,949 square feet of industrial uses across four buildings, which separately would total 202,831 square feet, 176,337 square feet, 147,965 square feet and 72,816 square feet.
Plans for the six-acre site include a 133,320 square foot industrial building with 15,700 square feet of light manufacturing uses and 10,000 square feet reserved for office space.
Per the report, FivePoint plans on selling the properties as early as the end of this year. Although, it remains unclear if any buyers have been chosen.
FivePoint is a developer of mixed-use communities throughout several of the state’s coastal markets, including Orange County, Los Angeles County and San Francisco County. According to the firm’s website, FivePoint has 23 million square feet of commercial space, 10,500 acres of planned open space, 40,000 homes and 6,000 affordable units either built or in the planning stages.