COMMERCIAL REAL ESTATE
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New Management at Park Place: Trammell Crow Co. and Winthrop Financial Associates have switched hands in the management of their jointly owned buildings in Park Place, a 105-acre business center under development in Irvine.
The two companies bought the eight interconnected buildings from Fluor Corp. in 1985. For the past seven years, Trammell Crow has managed the buildings. The Dallas-based real estate firm announced this week that it has sold the property management contract for an undisclosed amount to Winthrop Management, a Boston-based real estate company that is the parent company of Winthrop Financial.
The new management organization will retain the 46 employees already on staff, said Tom McDonough, a principal with Trammell Crow.
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