LONG BEACH, CA--(Marketwired - February 09, 2016) - United Pacific, formerly known as United Oil, one of the largest independent owners, suppliers and operators of gas stations and convenience stores in the Western United States, acquired 2.65 acres for a new corporate headquarters in master-planned Douglas Park at Long Beach Airport from SARES•REGIS Group.
"We wanted a high-quality location where our employees and visitors would feel safe and can walk to nearby restaurants, markets and other services," said Joe Juliano, United Pacific's chief executive officer. "We have a long-standing relationship with SRG and knew that Douglas Park would have these amenities and more, plus two hotels are underway," Juliano said.
Making the move with United Pacific early next year from nearby Gardena, California, where the company was founded in 1948 as United Oil, are 120 corporate employees who support United Pacific's network of 320 company-owned locations and 2,400 employees in five western states, Juliano said. The company plans to break ground on a modern 40,000-square-foot office building this summer at the southeast corner of Worsham Avenue and Cover Street.
"We completed an employee survey and discovered that our ideal location would be along the 405 corridor between the 110 and 710 freeways. Douglas Park is about two miles from the 710 and 405," Juliano said. "Additionally, many of our employees will use Long Beach Airport to travel to our sites in Northern California, Oregon, Washington, Nevada and Colorado."
The sale to United Pacific leaves 20 acres available of the remaining 193 acres at Douglas Park that SRG acquired in 2012, said Larry Lukanish, senior vice president of SRG Commercial Development. SRG is developing the property with 3.2 million square feet of new office, industrial and retail space. Master planned by Boeing Realty Corporation, the property borders the northeast side of the airport at Lakewood Boulevard.
DRA Architects in Newport Beach, California, is designing the building and Oltmans Construction Company, Whittier, California, will construct the facility.
CBRE's Bob Healey in El Segundo, California represented United Pacific. SRG was represented by CBRE's Brian DeRevere in Orange, California, and John Schumacher in CBRE's South Bay office.
United Pacific, through its retail convenience locations and its retail and wholesale fuel distribution network, has established itself as one of the largest independent owners, suppliers and operators of gas stations and convenience stores in the Western United States. United Pacific offers motor fuels products under the 76, Conoco, Shell and United Oil flags and convenience items through the We Got It! Food Mart, My Goods Market and Circle K brands. United Pacific operates its retail and wholesale businesses in California, Nevada, Oregon, Washington and Colorado. The company is a portfolio business of Fortress Investment Group LLC, a leading, highly diversified global investment management firm.
SARES•REGIS Group of Irvine, California, is a privately held real estate development, investment and management firm. Since its founding in 1993, SRG has developed and acquired more than $7 billion in commercial and residential assets throughout the Western U.S., focusing on apartments, condominiums, mixed-use communities, corporate headquarters buildings and large distribution facilities. The company manages a combined portfolio of approximately 21 million square feet of office and industrial space and 19,000 rental apartments on its own account and for institutional partners and clients. For more information go to www.sares-regis.com.
Contact:
Zoe Solsby, SRG
949-809-2400
Art Barrett
714-309-3700
