Alere's new property is at 1400 Allec St. and formerly was occupied by Vistar Corp. a food distribution company, which was also the previous owner. Alere bought the property in a deal brokered by Rick Ellison, Jeff Chiate, John McMillan and Jeff Sanita of Cushman & Wakefield. Vistar sold the site as part of its plan to relocate to the City of Industry.
The Alere purchase was one of two Orange County industrial transactions to close lately, according to Cushman & Wakefield. In the other, aerospace manufacturer Aerofit Inc. signed a six-year, $2.6-million lease with Rreef America REIT Corp. for a 66,980sf- facility at 1426 Acacia Ave. in Fullerton.
Aerofit was based in Buena Park, where it was founded almost 40 years ago, but has made the move to Fullerton to consolidate its facilities. Ellison, Chiate and Peter Sowa of Cushman & Wakefield represented the landlord, with Aerofit represented by Realtech.
The Cushman & Wakefield brokers say the leases reflect strong Orange County economic conditions that have fueled business growth and expansion. Grubb & Ellis cited the same factors recently in reporting that Logomark Inc., an advertising specialties firm, leased a 122,260-sf industrial building at 1201 Bell Ave. in Tustin in a 10-year deal. The landlord, the Bixby Land Co. of Long Beach, was represented by Wade Tift, Bob Griffith and Jon Nesbitt of Grubb & Ellis' Newport Beach office. Logomark will be relocating from Irvine.
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