A roundup of commercial real estate transactions, industry movers and shakers and new ventures.
Newmark Knight Frank (NKF) has completed the $27 million sale of Monarch Industrial, a multi-tenant, 276,585-square-foot warehouse facility in Garden Grove. The property is fully occupied by four tenants including Virtu USA, New Mode Sportswear, V Factory and Riviera Beverages. NKF’s Kevin Shannon, Scott Schumacher, Bret Hardy, and Jeff Read represented the seller, Colony Northstar. The buyers, Penwood Real Estate and Western Realco, were self-represented. The complex is located at 12752 to 12822 Monarch St. on the northeast corner of Monarch Street and Acacia Avenue.
Savills Studley’s National Retail Services Group has sold the fee interest in Anaheim Lincoln Shopping Center, a 72,950-square-foot neighborhood shopping center in Anaheim. The property was bought by a private Los Angeles-based investor for $18.5 million. The seller was a private partnership. The property is anchored by Vallarta Supermarket. Savills Studley’s Kyle Miller and Bill Bauman handled the sale.
CBRE has completed the off-market sale of an industrial property in Tustin to Dailin Holdings for roughly $6.65 million. CBRE’s Ross Fippinger represented the seller, a manufacturing company, and Ross Bourne represented the buyer in the transaction. The property, at 2961 Dow Ave., totals 33,472 square feet plus a yard.
Hanley Investment Group Real Estate Advisors in Corona Del Mar has completed the $5.7 million sale of a new two-tenant retail building occupied by Dunkin’ Donuts/Baskin Robbins drive-through and Mod Pizza at 26722 Portola Parkway in Foothill Ranch. The building is part of Foothill Ranch Towne Centre. Hanley Investment Group’s Bill Asher and Ed Hanley represented the seller, Spectrum Development Group in Irvine. The buyer, a private investor from Newport Beach, was represented by John Carpenter of The 949 Group in Irvine. The newly remodeled building sits on.89 acres. Both tenants have new 10-year initial lease terms.
CBRE Group has brokered the sale of a multifamily complex in Brea to a 1031-exchange buyer for roughly $6.75 million. CBRE’s Dan Blackwell represented both the buyer, Restoration Enhancement in Metropolitan Communities, and the private seller in the transaction. Williams Senior Apartments, at 212 South Orange Ave., was recently upgraded and has a wait list of potential tenants. The 28-unit property is next to Brea Downtown.
The Orange County Medical Association has paid $3.1 million for an 8,058-square-foot, free-standing office building at 5000 Campus Drive, Newport Beach, in the Newport Corporate Plaza. Principal Marshal Vogt of the Orange office of Lee & Associates represented the OCMA and Joe Winkelman of Colliers represented the seller, Kearny Real Estate.
California Hi-Lites, currently based in Santa Fe Springs, has signed a lease valued at $4.3 million for 112,746-square-feet of space at the Fullerton Distribution Center at 2100 E. Valencia Ave, Unit A in Fullerton. Principal Robert Leiter of the Orange office of Lee & Associates represented the California Hi-Lites. Ben Seybold and Sean Ward of CBRE represented MCP SoCal Industrial Fullerton, the landlord.
The Irvine office of Lee & Associates has brokered the sale of a 65,802-square-foot office building at 16802 Aston Street in Irvine. Terms were not disclosed. Brian Garbutt and Sammy Cemo of Lee & Associates Irvine represented the buyer, 16802 Aston Irvine Investment LLC. The seller, BTC Acquisitions Partners LLC, was represented by Ryan Gallagher and Derreck Barker of Holliday Fenonglio Fowler. Built in 1985, the building is fully occupied by Spireon and was sold as a single-tenant property. Spireon is a provider of aftermarket telematics solutions.
Avenue3 Realty, with a three-step approach to home-selling, has opened an office in Rancho Santa Margarita. The firm combines the services of real estate listing agents with licensed building contractors to boost a home’s value. The three steps include a thorough assessment, licensed contractors work on the improvements, and listing agents develop a sales strategy to sell the home. The firm’s leadership team includes Angelina Sciarrino, Gina Scafani and John Picot.
Design firm Ware Malcomb in Irvine has promoted Ted Heisler to vice president of interior architecture and design. Heisler will be responsible for overall growth in its interior architecture and design practice across the firm’s 22 offices. He also is responsible for national business development and leads the firm’s corporate accounts program.
Ryan Ikari has been hired at Harvest Landscape Enterprises, a landscape maintenance company in Anaheim. Ikari will help drive ongoing growth of the company, overseeing the expansion of new business in the region.
James Lugaila has been named senior architect for the airports and air carriers sector of TranSystems Corp. in Santa Ana. The consulting firm provides engineering and architecture solutions to the transportation marketplace. Lugaila will be responsible for fostering TranSystems’ aviation growth in the Southern California market. He also will be responsible for promoting regional sustainability goals with fast-track permitting strategies.
Patty Arvielo, co-founder and president of New American Funding in Tustin, has been named a Woman of Influence by HousingWire Magazine for 2017. Arvielo made the seventh annual list, which highlights the 50 most high-achieving women impacting the housing industry nationwide.
The Orange County Chapter of the Risk Management Association will present Southern California C&I Lending, a presentation by Bill Phelan, president and co-founder of PayNet, from 11: 30 a.m. to 1: 30 p.m. Thursday, Sept. 21 at The Pacific Club, 4110 MacArthur Blvd., Newport Beach. The discussion will include an overview of C&I lending conditions, financial technology and credit risk by region and industry. The cost to attend is $65 for RMA members, $75 for non-members. Register online at rmaoc.org or call Vicki Phillipy at 714-267‐5281.
The deadline nears to nominate a business for the Register’s annual Top Workplaces program, which examines organizations with 35 or more workers. The survey in recent years expanded to include private, public, nonprofit and government organizations in the county.
