The Abbey Company Celebrates Billion Dollar Milestone at Palm Springs Groundbreaking

City manager, officials join celebration.

Palm Springs, CA (PRWEB) December 4, 2007 -- A picture perfect Palm Springs day greeted City officials and special guests at the Groundbreaking Ceremony for The Abbey Company's first ground-up construction project of 2008 at 265 North El Cielo. Simultaneous to the Groundbreaking, Mark Wittcoff, Vice President, announced another major milestone: The Abbey Company's portfolio has topped one billion dollars in value.

"The Abbey Company's roots are in places like Palm Springs where Don Abbey's leadership inspires our local management and leasing professionals to be active participants in their communities. This local focus is integral to the growth of our portfolio," explained Wittcoff. "Breaking ground on this new building is an expression of our confidence in Palm Springs."

The Abbey Company's roots are in places like Palm Springs where Don Abbey's leadership inspires our local management and leasing professionals to be active participants in their communities. This local focus is integral to the growth of our portfolio

The Honorable David H. Ready, City Manager of Palm Springs, spoke on behalf of the City in congratulating the Company and its founder, Don Abbey, who purchased one of his first buildings in Palm Springs in 1992 and personally managed that building himself.

Suzann Brent, newly appointed Regional Leasing Director for The Abbey Company, opened the festivities and led the Groundbreaking events. Palm Springs Chamber of Commerce CEO John Pivinski and President Roman Whittaker held a ribbon cutting ceremony complete with giant scissors. Palm Springs Director of Community and Economic Development John S. Raymond and new Executive Director of Palm Springs International Airport Tom Nolan joined in the Ceremony. After the Ceremony, guests were treated to a catered lunch under a white canopy.

The new building is ideally located close to the Airport and completes the original 3-building design of architect Francisco Urrutia. Existing Abbey buildings at 255 and 275 El Cielo house prestigious tenants such as Desert Oasis Healthcare, the largest independent practice association in the Coachella Valley. Kay Etsell, Vice President-Operations, and other representatives of Desert Oasis attended the Groundbreaking. The Abbey Company owns additional Palm Springs office buildings at 340, 400 and 490 Farrell Drive.

With the new building on El Cielo, The Abbey Company has grown from its first property, purchased in 1990, to 55 commercial projects encompassing hundreds of buildings throughout California. In just 17 years, Don Abbey has taken his portfolio from $150,000 to over one billion dollars in value, encompassing over 5 million square feet and housing approximately1,200 tenants. For more information, visit http://www.theabbeyco.com.

Contact:
Carole Myers
Phone 310-440-0046
Fax 310-872-5352
carolemyers(at)mac.com

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• The Abbey Company Breaks Ground On A Billion Dollars 2007-11-27