Leasing interest slow at new Vista Boulevard center

Eastpoint at Vista, a six-building development planned on 4.7 acres at 4950 Vista Blvd. has drawn lukewarm response as the first building is completed and ready for leasing, says broker Al Souza of

Capurro & Reid Real Estate LLC.

Souza says interest in leasing space in or purchasing the first building of 7,325 square feet, which was completed in June, has been minimal from professional or medical users.

"The economy has a lot to do with it," Souza says. "There are a lot of real small users and short-time users, but if you are going to do major tenant improvements you have got to have someone who is going to be there for a while."

Developer Tim McDonald of Diversified Development and Construction began the project in spring of 2007 and expected the buildings would be filled fairly quickly because of high growth and lack of medical services in the area.

"There is a need," McDonald says.

McDonald says he will not press forward on the project until the first building sells or is fully leased.

"In the type of economy we are in, there is no use in speculating and having empty buildings sitting around," McDonald says. "We are not going to start anything until there is more activity in the market."

The buildings, designed by Angela Bigotti of Sheehan Van Woert Bigotti Architects, and built by Joseph Pace Construction, Inc. will total 42,363 square feet when finished. McDonald says Bigotti designed the buildings, which include loft space and open views, to stand out from other professional office space in the area.

Rents are expected to be around $2 per square foot with a common area charge, McDonald says. "But like anyone else in this market, we are willing to negotiate," he adds.