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6/15/16
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BLT Enterprises has acquired a four-building office, flex and industrial portfolio encompassing 170.4k sf and spanning four Orange County cities, for $28 mil, or $164/sf. The properties were sold by LA-based Cordia Capital Management.
The assets, which encompass an estimated total of 11.19 acres, are 100 percent occupied and strategically located in growing infill markets with immediate access to major Southern California freeways. The portfolio is currently leased to large national companies including Securitas Security Services USA, which is publicly traded with annual revenues of $4.3 bil, as well as Ambry Genetics, Compass Group USA, and Exhibitree.
Kurt Bruggeman and Ryan Swanson of Lee & Associates represented BLT Enterprises in the deal. Jeff Chiate, Jeff Cole and their team at Cushman & Wakefield repped Cordia Capital Management. The four-building portfolio acquisition includes:
• A 73k sf industrial building at 9700 Toledo Way, between the I-5 and I-405 freeways. It encompasses open ceiling systems with approximately 24-foot clear heights. The building is currently occupied by Exhibitree, a custom design and fabrication builder of trade show exhibits, displays and booths with major clients in the entertainment industry.
• A 47.6k sf industrial property at 12640 Knott St in Garden Grove, situated one and half miles from the I-22 and three miles from the I-405. The building is equipped with standard commercial grade fixtures and 24-foot clear heights. The property is currently occupied by Compass Group USA, a leading food service management and services company.
• A 41.5k sf office/flex building located at 15 Argonaut in Aliso Viejo. Constructed in 1989, the property is in close proximity to the San Joaquin Hills Transportation Corridor 73 toll road and the I-5 freeway. Ambry Genetics, a genetics based healthcare company, currently occupies the building.
• An 8.2k sf office building at 2100 S. State College Blvd in Anaheim. Constructed in 1990, the building building is located in a prime location in Anaheim less than a mile from the I-5 and I-57 freeways. It is occupied by Securitas Security Services USA.
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