April 3, 2017
Houston-based Hines is planning to expand Brea Place in Brea, CA with a seven-acre mixed-use development. The proposed project includes 747 apartments, nearly 17,000 square feet of commercial space, and a 150-room Marriott hotel.
The property was acquired by Hines in 2014 in a JV with a subsidiary of a real estate fund managed by Oaktree Capital Management, L.P. Located at State College Boulevard and Birch Street, the development would occupy vacant space between the 558,458 square feet of existing office buildings on the 30-acre campus.
The developer plans to incorporate a new adaptive traffic system that uses artificial intelligence. The system has proven to improve traffic flow by as much as 50% in other deployments.
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