Shea Properties Opens New Office in Downtown Los Angeles

Online, April 4, 2011 (Newswire.com) - Shea Properties, a diversified real estate company responsible for the acquisition, design, development, construction and management of business parks, shopping centers, apartment communities and mixed-use environments, has opened a new office in downtown Los Angeles.

"The new office brings us closer to our projects and prospects in Los Angeles and Ventura County," said Colm Macken, President of Shea Properties. "With offices in San Diego, Orange County, and now Los Angeles, we feel well situated to advance anywhere in the Southern California region."

For example, the real estate development firm is currently working on a mixed-use center in the up-and-coming Barrio Logan area of downtown San Diego that will include a Northgate Market, 47,000 SF of street level retail with 92 apartment units above. Shea Properties is also working on The Collection, a 600,000 SF specialty retail center in West Ventura County anchored by Target, Whole Foods, REI and Century Theatres to open in 2012.

Located at 601 S. Figueroa in the 53-story Figueroa at Wilshire building, the new office will be responsible for the pursuit of development opportunities, along with leasing and operations activities at Shea Properties' existing Los Angeles area holdings. "We feel very strongly about the development prospects here in Los Angeles," said Macken. "We want to be where the action is when the economy really takes off."

About Shea Properties (www.sheaproperties.com)
Shea Properties, headquartered in Aliso Viejo, California, is a diversified real estate company responsible for the acquisition, design, development, construction and management of business parks, shopping centers, apartment communities and mixed-use environments. Since beginning operations in 1969, annual revenues have grown steadily to more than $200 million, while the overall value of the stabilized portfolio has grown from $150 million to more than $2.25 billion. Shea Properties currently owns and operates approximately 6,300 apartment units and 6 million square feet of office, industrial and retail space in California, Colorado and Arizona. The development pipeline holds an additional 2,200 apartment units and 2.5 million square feet of commercial space. In concert with sister company, Shea Homes, the nation's largest private home builder, Shea Properties offers a range of capabilities matched by few other developers in the industry.
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