LAS VEGAS (September 6, 2007) – Lauth announced today the company has begun construction on Montecito Point, a 6-story, 187,000 square feet, Class “A”, LEED Registered office building. When Montecito Point opens next spring, it will feature ample parking, easy highway access, and close proximity to retail and professional services.
“This development fills the growing need for high quality office space on the northwest side of town,” said Mike Orr, Vice President of Development at Lauth. “Montecito Point is a perfect location for offices seeking the convenience of being located in the Montecito Town Center.”
Montecito Town Center is a mixed-used development featuring retail, single and multi-family housing, a full service hospital, and recreational attractions. The development is easily accessed from Rome Boulevard, Grand Montecito Parkway, I-215, and Highway 95. Randy Broadhead, Brad Peterson and Darren Lemmon of CB Richard Ellis will lease Montecito Point.
Montecito Point will be the third facility in Las Vegas completed by Lauth, the nation’s 13th largest commercial real estate developer according to Commercial Property News. The company last year completed the 421,000 SF Northpoint Business Center, home to International Truck and Engine’s Las Vegas Distribution hub. Lauth built a 78-door freight terminal for Yellow Transportation in 2004. It also built a 624,000 SF distribution center for Henderson-based Zappos.com in Shepherdsville, KY.
The groundbreaking for Montecito Point marks the latest announcement by Lauth. Last month, the company completed leases with Ulta Cosmetics for a distribution center in Phoenix and software developer Angel Learning at INTECH Park in Indianapolis. The company broke ground in May on a retail development in Bryan/College Station, Texas; a healthcare facility for PinnacleHealth in Mechanicsburg, PA; and opened the Bon Secours Health Center in Virginia Beach, VA. Lauth broke ground earlier this year the 20-story NASCAR Plaza in downtown Charlotte.
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About Lauth
Since 1977, Lauth has been building facilities for clients to lease or own throughout the United States. Lauth’s years of solid experience, coupled with completed projects worth billions, make it a leading national development and construction firm. Lauth delivers virtually any type of facility including healthcare, industrial, office, or retail from offices in Indianapolis, Charlotte, Dallas, Denver, Orlando and Phoenix. Additional Lauth information is available at www.lauth.net. People. Trust. Experience. ®
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), an S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2006 revenue). With over 24,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate and partner offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. In 2007, BusinessWeek named CB Richard Ellis one of the 50 “best in class” companies across all industries. Please visit our Web site at www.cbre.com.