A 120,000-square-foot, single-tenant workplace constructing in Tustin has bought for $91 million, in accordance with JLL Capital Markets.
The constructing is leased to the county by means of 2047. It sits on almost 6 acres at 1382 Bell Ave. close to town’s 1,600-acre Tustin Legacy master-planned group.
JLL suggested the sellers, a three way partnership between SteelWave and their institutional investor. The client was not recognized.
The JLL Capital Markets staff representing the vendor included Blake Bokosky, Mark DeGiorgio, Michael Leggett, Adam Lasoff, Patrick Burger and Makenna Peter.
Duke Realty eyes industrial venture after shopping for Los Al web site for $77M
A ten.7-acre industrial web site in Los Alamitos has been bought to Duke Realty for $77.2 million, in accordance with Cushman & Wakefield.
The property contains a number of multi-tenant buildings on eight parcels, in accordance with the brokerage, which declined to supply specifics. A consultant would solely say the portfolio was close to Katella Avenue and Bloomfield Avenue.
Duke Realty purchased the property from Don Wilson Builders as an funding and plans to redevelop the positioning as a Class A industrial venture.
“This industrial web site is strategically situated on the border of Los Angeles and Orange County, handy to the busiest port advanced in North America, an intensive freeway community, two main airports, and a large inhabitants heart,” in accordance with Cushman & Wakefield.
Kyle McGillen and Rick Ellison represented Duke Realty within the transaction.
Industrial constructing in Santa Ana sells for $8.6M
Lee & Associates in Orange has bought a 9,780-square-foot industrial constructing on 2.54 acres in Santa Ana for $8.6 million.
The property at 2506 South Harbor Blvd. is gated and has about 2,000 sq. ft of out of doors work space.
Greg Diab and Jack Haley, principals of Lee & Associates represented the unidentified purchaser.
MCA provides 2 extra industrial offers to its $50 million development fund
MCA Realty in Santa Ana has accomplished its ninth and tenth acquisitions within the MCA Realty Industrial Progress Fund LP, shopping for an industrial portfolio in Sacramento and a multi-tenant industrial constructing in Salt Lake County, Utah, for a mixed $13.8 million.
Tyler Mattox, a principal at MCA Realty, mentioned the Sacramento and Salt Lake County properties have been the primary properties acquired by the agency in these submarkets.
The agency has expanded into new markets since deploying the expansion fund on the finish of 2021, Mattox mentioned. The $50 million fund, raised in simply three months, has been used to accumulate 10 properties to this point.
Within the newest offers, MCA purchased three industrial properties for a mixed 82,565 sq. ft in Sacramento for $10.2 million. It additionally purchased an 18,240 square-foot multi-tenant industrial constructing in West Metropolis Valley, Utah, for $3.6 million.
“We’ve got focused the Salt Lake space as a fascinating location for increasing our industrial footprint,” Mattox mentioned.
Obituaries
Jack Samuelson, a famous developer of campus and medical buildings round Southern California, died July 17. He was 97.
Samuelson and brother Robert “Bob” Samuelson shaped the final contracting agency Samuelson Brothers in 1946.
Amongst their large initiatives have been campus buildings at USC, Cal Lutheran College and Occidental Faculty. At Cal Lutheran, initiatives included the residence halls, Orville Dahl Centrum, Peters Corridor and locker room additions.
At OCC, the corporate constructed many buildings and accomplished a number of renovations on campus, together with Sales space Corridor, Herrick Memorial Chapel, Rush Gymnasium, Keck Theater, an artwork gallery and a pavilion and alumni heart that every bear Samuelson’s identify.
Samuelson Brothers, now Samuelson Companions, additionally constructed La Cañada Presbyterian Church.
Jack’s brother died in 2008 from mesothelioma most cancers.
“His influence was quick, important, and long-lasting, and his dedication to inexpensive housing, particularly, had profound influence,” mentioned John H. Cochrane, III, president and CEO of HumanGood, a California-based nonprofit that builds inexpensive senior housing in six states.
Jack and Bob additionally co-founded Beacon Housing, a faith-based housing supplier. Their two households would later create the Samuelson Charitable Basis, which supported church-related businesses.
Samuelson is survived by his kids and their spouses, together with Reid and Joyce (Todd) Samuelson; Chuck and Lisa (Samuelson) Paugh; Kevin and Laura (Samuelson) Murphy; and David and Michelle (Allen) Samuelson.
Contributions in reminiscence of Jack could also be made to Beacon Housing, 5000 Edenhurst Ave., Los Angeles, CA 90039, or go to BeaconHousing.org.
Actual property transactions, leases and new initiatives, trade hires, new ventures and upcoming occasions are compiled from press releases by contributing author Karen Levin. Submit gadgets and high-resolution images through electronic mail to Enterprise Editor Samantha Gowen at sgowen@scng.com. Please enable at the very least per week for publication. All gadgets are topic to modifying for readability and size.
