COMMERCIAL SCENE : Tobishima Buys, to Expand State College Plaza
Tobishima Development Co., represented by Santa Ana-based Hutton Development Co., has acquired State College Plaza, a six-story, 126,000-square-foot office building in Anaheim for about $20 million and plans to add 468,000 square feet of office space to the 10-acre site at 2099 Orangewood Ave.
Ground breaking for a 12-story, 256,000-square-foot building and adjoining, 784-car parking structure is planned during the first quarter of next year, with completion expected by spring, 1991. A 10-story, 212,000-square-foot office building and 931-car addition to the parking structure is to be built later.
Hutton not only represented Tobishima in buying the property from Connecticut Mutual Life Insurance Co., represented by San Diego-headquartered Pacific Southwest Mortgage, but Hutton also will further develop the site, which will be renamed Hutton Stadium Centre.
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