H.G. Fenton Finds New Digs, Expands Operations

SAN DIEGO-H.G. Fenton Co. is in a growth mode–not only in acquiring property, but in its space requirements as well. The locally based real estate owner/developer has agreed to move its corporate headquarters to Mission Valley Heights. In the move, H.G. Fenton will expand its operations from 12,000 sf to roughly 25,000 sf. Terms were not available on the lease. However, company president Mike Neal says the move will allow the firm to better serve its “growing commercial and residential portfolios.”With the company doubling its space requirements, an increase in personnel will follow, Neal adds. Company officials did not comment on specific numbers in regard to personnel, but says in a released statement that the current number of 104 employees “will grow over the next few years as new developments and acquisitions are completed.”Lately, that growth has come through significant acquisitions and ongoing development deals. Last month, the firm made a couple of significant buys in bolstering its apartment portfolio. In two deals, H.G. Fenton paid $71.4 million for Evening Creek and Creek View apartment communities, both in Sabre Springs. The company acquired Evening Creek for $35 million and Creek View for $36.4 million. The buys bring H.G. Fenton’s apartment portfolio to more than 2,800 units in San Diego County. Besides the Sabre Springs properties, the company also counts Seagate in Carlsbad, 272 units; Solana Highlands in Solana Beach, 194 units; Bella Del Mar in Del Mar, 96 units; and Scripps Landing in Scripps Ranch, 160 units, among its multifamily holdings.Besides its apartment portfolio, H.G. Fenton also owns more than three million sf of industrial space in San Diego County. The company has industrial projects in the works as well, including the one-million-sf Fenton Technology Park in Sorrento Mesa.