1311 Calle Batido
San Clemente, California

Owner
Single purpose LLC owned by private individual investors

Tenant
Nichols Institute Diagnostics – a wholly owned subsidiary of Quest Diagnostics a NYSE company.

Size
86,207 square feet

Project Type
2-story office, R&D and laboratory facility

Program Elements

• 2-story 86k rentable sq. ft.
• 6.1 acres
• 3.25 surface parking spaces / 1,000 square feet.
• 73k lab/office/
  manufacturing
• 13k warehouse
• 1.37 acres for future expansion

Financing Services

• Transaction Structuring
• Senior Debt Financing

Project Schedule
Land Acquisition: 3/2001
Completion: 4/2002

 

In 2002, Nichols Institute Diagnostics, a wholly owned subsidiary of NYSE listed Quest Diagnostics, leased this newly developed 86,207 square foot regional headquarters facility in southern Orange County, California in order to consolidate and expand its Orange County operations. This two-story build-to-suit project, owned and developed by a private investment group, consists of 73,000 square feet of laboratory, office and manufacturing space and 13,000 square feet of warehouse space situated on 6.1 acres. Nichols also acquired an adjacent approximate 1.37 acre site to accommodate future expansion of the facility.

The private investment ownership group acquired the site, managed all aspects of the project development and leased the facility to Nichols under a long-term lease arrangement. One of the principals of our firm was instrumental in obtaining the initial tenant commitment, facilitating site acquisition, and arranging 3rd party financing for the project. Nichols took occupancy of the project in late mid-2002.