Mixed-Use Complex Funds New School Construction
Brea Place is a $144 million mixed-use development with Class A office space, promotional retail space and an Embassy Suites Hotel. Developed in public-private partnership with the Brea Olinda Unified School District on a former high school site, the project received national awards for its financing structure which resulted in the funding of a modern new high school at no taxpayer expense. The success of Brea Place during can be attributed to constant attention to tenant needs. Lowe built an onsite child development center to respond to the needs of the many working mothers employed by Brea Place tenants. When government regulations mandated a reduction in single occupancy vehicles for all companies with over 100 employees, Lowe established a transportation management plan to facilitate the creation of carpools, vanpools, and other alternative methods of commuting. As a result 250 single occupancy vehicles were eliminated from the peak hour commute. To create the optimum retail experience, Lowe located the retail component – Brea Marketplace – on land immediately adjoining the office campus. Brea Marketplace is a 300,000 square foot community center anchored by traditional retailers as well as a variety of entertainment and service providers. Proximity to such a wide variety of quality retailers gave Brea Place a distinctive competitive advantage resulting in enhanced office tenant retention. With the complex developed, the new high school funded, amenities in place and performance stabilized, Lowe sold the final Brea Place assets in 2000.