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Steven Bren, son of The Irvine Company's Donald Bren, is making his first move into commercial real estate with plans to build and sell 24 small industrial buildings in the Irvine Spectrum with Santa Ana's Nexus Development Corp.
An Irvine Co. vice president in the 1980s and a onetime luxury car dealer, Steve Bren has made his name in the custom home business, building mansions at Pelican Crest and Newport Coast. One of his homes was bought by Los Angeles Lakers star Kobe Bryant.
Now Bren and Nexus plan to build single- and two-story industrial buildings ranging in size from 4,960 to 15,000 square feet and going for $245 to $265 per square foot. Ground breaking on the first phase's 12 buildings is set for March with completion by October.
Work on the second set of buildings should begin in late summer, said Jeff Bitetti, director of marketing at Nexus Development and who Bren referred questions to.
Nexus is responsible for Santa Ana's Twin Towers of MacArthur Place, twin high-rises completed...