Home Add to Favorite Contact Submit  
           21 January, 2021


    
Category:  Press » Real Estate

 

The Abbey Company Breaks Ground on a Billion Dollars

Popularity:
         Views: 1586
2007-11-27 01:08:30     
The Abbey Company

When the shovel hits the dirt at 265 North El Cielo in Palm Springs on November 29th, The Abbey Company hits two milestones: breaking ground on their first ground-up construction office building in Palm Springs; and announcing gross commercial asset value of over one billion dollars in California.

"We're in this uniquely positive position today," said Don Abbey, founder and CEO. "Despite market trends in the other direction, the Abbey Company is expanding our portfolio and growing our business at a very ambitious pace. We targeted Palm Springs for our first 2008 ground-up project because we believe in the market."

The new building already enjoys an interesting history. In the 70's, three office buildings were envisioned by Palm Springs architect Frank Urrutia, to grace a prime piece of land directly across from Palm Springs International Airport. Two of those buildings were completed, at 255 and 275 North El Cielo. The third site remained a vacant lot. Traditionally known as a renovator, The Abbey Company purchased the two buildings and the lot and gave Urrutia the opportunity to fulfill his original vision as the architect for the ground-up construction of building three.

265 North El Cielo is now available for lease, with a target for completing construction by late 2008. The two existing Abbey buildings on El Cielo house professional and medical tenants such as Desert Oasis Healthcare, the first full-service medical facility and largest independent practice association in the Coachella Valley.

With six buildings in Palm Springs, including 340, 400 and 490 Farrell Drive, and 53 commercial properties statewide, encompassing over 5 million square feet and housing approximately 1,200 tenants, Don Abbey's management philosophy has proven successful. Since the purchase of his first building for $150,000 seventeen years ago, each Abbey building has been managed by local property and leasing managers who provide on-site services that tenants appreciate. Don Abbey's own background holds a fascinating story. After graduating Penn State where he was a starting fullback under legendary coach Joe Paterno, Abbey was drafted by the Dallas Cowboys. In 1976 he entered the real estate business and in 1990 bought his first building. In 2006, he donated $3.5 million for restoration of the Beta Theta Pi chapter at his alma mater and founded the Abbey Leadership Foundation there.

Specialized in: The Abbey Company - Billion Dollars
Print press release      Bookmark this page
Related Press releases 
Virginia Beach Real Estate Agency Educates On How To Buy A Beach House (Popularity: ): Virginia Beach, Virginia (press.abc-directory) April 24, 2020 - Katie Zarpas Group, a Virginia Beach Real Estate Agency, recently released a blog on how to buy a beach house. There are different factors to consider when buying a beach house versus a typical residential establishment.Buying a beach house is seen primarily as a good return on investment and serves as a great getaway. However, buying one is vastly different from buying ...
Real Estate Expert Marian Schaffer of Southeast Discovery Shares 9 Tips for Buying a Home in a Gated Community (Popularity: ): Libertyville, IL - January 05, 2017 -- Marian Schaffer, Principal and Founder of Southeast Discovery, a real estate consulting firm specializing in guiding Baby Boomers with their real estate needs in the niche markets of retirement relocation and second homes in the Southeast region, recently shared 9 tips for buying a home in a gated community.“Many of the clients we’ve worked with in the last 10 years want to buy ...
Real Estate Worldwide (REWW) Launches Real Market Experts to Help Real Estate Investors Better Establish Themselves in Their Local Communities (Popularity: ): La Jolla, California - July 01, 2016 -- Real Estate Worldwide, a market leader in real estate education and marketing software, with offices in Scottsdale, Arizona and La Jolla, California, recently launched Real Market Experts, a suite of web services designed specifically for real estate investors. The brainchild of Kent Clothier, CEO and President of REWW, Real Market Experts helps real estate investors establish more of a digital footprint in ...
RE/MAX Ocean Village Launches SALE on Homes and Villas in Costa Rica (Popularity: ): Playas Del Coco, Guanacaste ( press.abc-directory.com ) February 19, 2016 - Being surrounded by the pristine beaches of Playa Hermosa, Ocotal, Playa Pamana and Matapalo and the majority of the popular tourist attractions - the area is ideal for a second home, vacation property, retirement home or investment property. Buying a dream villa in Costa Rica gets easier as Costa Rica's #1 real estate company RE/MAX Ocean Village has recently ...
Miami Luxury Real Estate Now Marketed Online at Housing Company Website (Popularity: ): Miami, FL - March 21, 2014 -- Purchasers of luxury homes in the state of Florida now have a new resource to use for locating Miami luxury real estate online. The Lucnar Properties company has included new listings of its available properties for sale at lucnarproperties.com.The marketing of these homes now takes place on the Internet to supply easier access to purchasers who are ready to make a purchase this ...


Related Business 
Equistar Chemical Company (Popularity: ): Equistar is a major chemical company with more than six billion dollars in assets. Lyondell Chemical owns 41% of the partnership.
Hennessee Group (Popularity: ): Hedge fund advisory providing consulting services to over one billion dollars worth of assets.
Sensational London Breaks (Popularity: ): London breaks are extremely popular not only with residents within the UK but also with visitors from all over the world. Some people enjoy the city for the culture or are attracted to the London theatre breaks, while shopaholics enjoy the shopping breaks for bargains in the high streets or for sightseeing.
Marmion Abbey - Aurora, Illinois (Popularity: ): Benedictine Abbey of the Swiss-American congregation. The school that they run and the life and work of the abbey.
Stockbroker Lawyers (Popularity: ): The Levin Papantonio Securities Department currently represents several state and municipal pension funds that manage more than 30 billion dollars on behalf of their constituents.
Ironshore: Energy Insurance (Popularity: ): Ironshore provides broker-sourced specialty commercial property insurance and casualty coverages for varying risks on a global basis through its multiple international platforms. With a holding company with over a billion dollars in fresh capital, Ironshore® has become one of the fastest growing companies in the industry, and we truly believe there's never been a better time to be in the insurance business.
Sinatra... a family album (Popularity: ): In his lifetime, Frank Sinatra raised more than a billion dollars for the needy, the hungry, the very young, the very old, the very ill and those seeking an education all over the world.
Search Engine Optimization Specialist (Popularity: ): Paknettech is a leading Search Engine Optimization Company Specializing in Search Engine Optimization and Internet Marketing Services. Our Search Engine Optimization Specialist able to provide results through Organic Seo Services at very affordable price. Internet marketing is relatively a new medium as compared to electronic and print media, however it has started showing its effectiveness soon after its inception. Today, billion of dollars are involved in internet advertisement and it ...
St. Mary's Abbey - Morristown, New Jersey (Popularity: ): St. Mary's Abbey at Delbarton is a Benedictine Abbey of the American Cassinese Congregation. Their main work is running the Delbarton School.
Regina Laudis Abbey - Bethlehem, Connecticutt (Popularity: ): The Abbey of Regina Laudis was founded in 1947 from the Abbey of Notre Dame de Jouarre in France.