Palma de la Reina Commercial Center in Rancho Santa Fe Begins Construction

RANCHO SANTA FE, CA - The long-awaited Palma de la Reina commercial center in Rancho Santa Fe began construction this month with an anticipated completion by the end of 2015. Palma de la Reina is located at 5525 Cancha de Golf, at the corner of Villa de la Valle and at the entrance to Morgan Run Resort & Golf Club.

Palma de la Reina is located on the last undeveloped commercial parcel in Rancho Santa Fe and is the first new commercial center construction in the area in 10 years.

The development will include approximately 21,050 square feet of Class A commercial office and approximately 10,360 square feet of retail space. Palma de la Reina also includes 54 residential suites, which will be available for lease by the end of the year. The residential component will be comprised of two-bedroom, two-bath luxury suites with upgraded amenities throughout.

San Diego-based Newport Pacific, Inc. is the developer of Palma de la Reina. Newport Pacific also developed the directly adjacent Whispering Palms community. Hearne Corp is the general contractor and Robert Colbourn is the architect.

“Palma de la Reina will provide exceptional commercial office, retail, and residential offerings near the heart of Rancho Santa Fe,” said Richard Cavanaugh, President and CEO of Newport Pacific.

“Located in the Rancho Santa Fe, minutes from Del Mar, and less than 30 minutes from Downtown San Diego, this premier site provides a rare opportunity for companies looking for the ideal office and retail environment,” said Scott Danshaw, Senior Associate of Lee & Associates.

For more information on the project, please contact Scott Danshaw at sdanshaw@lee-associates.com or at 858-713-0309.

Jim Medlin, Project Manager at Newport Pacific; Steve Willmore,

Vice President at Lee & Associates; Richard Cavanaugh, President at Newport

Pacific; Scott Danshaw Senior Associate at Lee & Associates

###