The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Western Realco and AEW Capital Management Acquire OC Office/Data Center Property for Redevelopment

4/30/15

Firms from opposite coasts, Newport Beach-based Western Realco LLC and Boston-based AEW Capital Management L.P., have teamed up to buy a 9.78-acre land site in Brea, which included a 68.6k sf office/data center building. The price was not disclosed.

The asset, located at 3300 E. Birch St, located north of Imperial hwy and east of the 57 Fwy, was sold by San Francisco-based Digital Realty Trust Inc.

Originally constructed in 1980 by Beckman Coulter to support its large, locally based headquarters operations, the building was home to several data center operators over the years. It had last been occupied by InfoCrossing until December 2014.

Newmark Grubb Knight Frank (NGKF) Executive Managing Directors Jeff Read and Scott Read, and Managing Director Greg Osborne, represented Digital Realty Trust in the sale.

Digital Realty, the world’s largest data center REIT with a market capitalization of approximately $9 bil, had owned the property since 2003. The sale was a part of Digital Realty's overall strategy of selling non-strategic assets to refine its portfolio focus and recycle capital toward core assets. With nearly six acres of excess land on site, in addition to the existing building, Digital Realty was able to sell the property at premium pricing given unprecedented demand for development opportunities in the Orange County marketplace.

Following its acquisition, Western Realco intends to work with the city of Brea to develop a state-of-the-art, approximately 216k sf industrial building on a speculative basis. The company, one fo the most active investor/developers in Orange County, continues to seek value-add industrial opportunities in the region.

This is Western Realco’s third industrial land acquisition in Brea in the past three years. The firm also purchased a four-acre site and a 20-acre site within one mile from the Birch Street site.






Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media