| CenterPoint Properties Pays $131 Mil for OC Cross-Dock Facility
A 1.084 msf industrial cross-dock facility in Buena Park has sold for $131.5 mil ($123/sf), in what we’re told is the largest contiguous, single-tenant transaction in Orange County over the last 25 years. The property, locate...
| Private Investor Buys 70-Unit OC Apartment Asset
In a recent OC multifamily sale comp, a local private investor paid $13.8 mil for The Regent, a 70-unit property located at 1111 West Santa Ana Blvd, north of 1st St and west of I-5 in Santa Ana.
The asset was sold by an in...
| Private Investor Pays $242k/Unit for Santa Ana Residential Building
NNC Apartment Ventures LLC has acquired Broadway Apartments, a 21-unit multifamily property in Santa Ana, for $5.075 mil ($242k/unit). This is the first time the building has been sold since it was built in 1987.
| OmniDuct Pays $15 Mil for Buena Park Industrial Property
OmniDuct paid $15 mil all-cash for a 103.4k sf ($145/sf) industrial property in Buena Park. The company, a manufacturer of HVAV ductwork, is relocating from Anaheim to this new location at 6388-6400 Artesia Blvd, on the south...
| OC Net-Leased Fiat/Chrysler Dealership Property Sells for Over $9 Mil
A 26.2k sf, net-leased Fiat Chrysler car dealership in San Juan Capistrano sold for $9.1 mil, or $348/sf. The property, located at 32881 Camino Capistrano, was purchased by a private local buyer in a 1031 exchange. The deal c...
| Terra Universal Leases 45k sf of Industrial Space in Brea
Terra Universal has inked a lease for 45.2k sf of high-class industrial space at the Brea Business Park in the OC city of Brea. The project is owned by Brea Endeavor Holdings LLC.
Terra Universal leased the entire building ...
| Sterling Organization Picks Up Vacant, 76k sf Retail Asset in Garden Grove
Sterling Organization has acquired Pavilion Plaza West, a 75.9k sf, vacant retail building in Garden Grove, for $11 mil ($145/sf). The property, which was once a Vons Supermarket (Safeway), was purchased from a group of five...
| OC Office Renewal Takes Care of Payne & Fears
The law firm Payne & Fears LLP signed a seven-year lease renewal for 25.8k sf of office space at Jamboree Center in Irvine. The company, an Orange County-based labor & employment, business and insurance litigation firm, sign...
| Costa Mesa Residential Property Trades for $366k/Unit
The Courtyards, a 28-unit multifamily property in Costa Mesa, sold for $10.25 mil ($366k/unit). The property, situated on 1.2 acres at 324 East 20th St, midway between the 55 Fwy and Irvine Ave, was 100% occupied at the time ...
| ValueRock Completes Redevelopment of Retail Portion Lake Forest Center
ValueRock Realty Partners has completed the retail portion of a major redevelopment of Lake Forest Gateway Center in Lake Forest. The company has also received Lake Forest City Council approval to construct a 99-room Springhi...
| California Landmark Group Buys 186-Unit Res Asset in Westminster
California Landmark Group (CLG) has acquired The Windmill Apartments, a 186-unit multifamily property in Westminster. The entire property is encumbered by a ground lease with approximately 29 years remaining on the term, with...
| OC Office Market Vacancy Rate at Lowest Level Since 2007
At the end of the first quarter of 2017, the Orange County office market vacancy rate was in single digit territory, the lowest seen since 2007. The vacancy rate registered 9.1%, down 80 basis points from a year ago. At the e...
| Capital One Originates $77 Mil in Fannie Mae Loans on Three Properties for Kort & Scott Financial Group
Kort & Scott Financial Group has obtained $76.7 mil in Fannie Mae loans for a trio of California residential properties. The loans, provided by Capital One, enabled Kort & Scott to refinance a manufactured housing community i...
| NewMark Merrill Companies Recapitalizes Two Retail Centers
NewMark Merrill Companies has completed recapitalizations totaling $26.6 mil of two of its retail centers. The transactions consisted of a $19.1 mil refi of Bristol Warner Village, located in Santa Ana, and a $7.5 mil refinan...
| Irvine Company Buys 216k sf Irvine Spectrum Complex
Irvine Company has purchased Alton Plaza, a 19-building business campus within Irvine Spectrum. The company plans to revitalize the 216k sf complex, located on Alton Pkwy near the Irvine train station.
Alton Plaza is 95% lea...
| Karma Pays $56 Mil for Irvine Facility
Karma Automotive LLC has purchased the 262.5k sf Irvine facility that it had been leasing since August 2016 in a transaction valued at $56.25 mil, or $214/sf. Karma is an American car company that manufactures luxury hybrid p...
| Planned Res Development to Bring 600 Units to Santa Ana
Wermers Properties has announced plans for a 601-unit residential property in Santa Ana, whose design was inspired by the adjacent Santa Ana Zoo and Prentice Park. The project, Santa Ana First Street Apartments, was designed ...
| The Bascom Group Spends $94 Mil on 400 Units in Orange County
The Bascom Group LLC has acquired Villas at Tustin Apartments, a 406-unit infill apartment community located in the heart of Orange County, for $94 mil ($231.5k/unit). Villas at Tustin, constructed in 1972, is located at 2414...
| Guthrie Development Picks Up Fullerton Industrial Property
Guthrie Development paid $7.75 mil for 4200 Bonita, a 64.3k sf ($120/sf), occupied industrial building in Fullerton. The property was sold by BI Technologies, an electronics parts supplier that had owned and occupied the faci...
| Guthrie Development Spends $5.8 Mil on South OC Commercial Property
Guthrie Development recently purchased a six- building multi-tenant retail, office, and service commercial project totaling 24.5k sf in Laguna Niguel. The buildings, located at 27781-27841 La Paz Rd, were purchased from La Pa...