OCR

portion of the remaining land had been sold and developed into residential lots, and all but ten acres of the unsold land was under option to private contractors. Utah's 900-acre Bay Farm Island, located adjacent to the Alameda project, remained undeveloped. SI Segundo On 197 acres acquired to participate in Southern California's rapid industrial expansion, the El Segundo Industrial Park continued to offer a broad variety of design, construction and financial arrangements to potential occupants. The standard of tenants and the quality of their facilities served to enhance this industrial property. Of the 140 acres developed, 91 acres were available for sale. Moraga In 1954, Utah acquired control of 5,000 acres of land in the Moraga Valley in the San Francisco Bay area. The gradual improvement and sale of this land for residential and commercial purposes has yielded a satisfac- tory profit. Development activities have been essentially terminated, and more than one-half of the original acreage is being held as an investment. In 1963, two transactions, including the sale of a large parcel for the constructionn of a shopping center, were completed, leaving an inventory of approximately 3, 030 unsold acres. Pauma Valley Located at the foot of Mount Palomar near San Diego, Utah owned 1,451 acres of land suitable for residential use, surrounding the Pauma club facilities and golf course designed by Robert Trent Jones. Litigation had delayed the development of this project, but the company was hopeful of starting an integrated program of lot sales and home development for the coming fiscal year. South San Francisco Industrial Park The pace of 1963's sales and leasing activity at Utah's South San Francisco Industrial Park, which was developed by filling marshlands acquired in 1955, exceeded expectations. The Park, located in the vicinity of the San Francisco International Airport, is now occupied by many nationally prominent firms. During 1963, 70 acres were sold or leased, and, at year end, a number of additional transactions were in various stages of negotiation, reducing the uncommitted portion to 77 acres.