ANAHEIM, CA-Three months after buying a note and foreclosing ona 281,548-square-foot distribution building, Sares-Regis Group hasleased it to beverage distributor Straub Distributing Co. Ltd. 15years in a lease valued at $37.5 million. The lease represents anexpansion of operations for the longtime Orange County distributorof Budweiser beer and other, imported brands, according to LarryLukanish, vice president in the company’s Commercial InvestmentDivision.

|

The building is at 4663 La Palma Ave. Straub was represented byRichard and Paul Julian of Advanced Real Estate Services in LakeForest, CA. SaresRegis Group was represented by Brad Bierbaum andRyan Peterson of the Anaheim office of CB Richard Ellis.

|

Paul Julian said Straub Distributing has been operating at threeOrange County distribution and headquarters locations totaling211,586 square feet that will be consolidated at the Anaheimfacility. The buildings being vacated are for sale or lease, hesaid. They are: a 59,645-square-foot office building at 2701 DowAve., Tustin; a 78,000-square-foot distribution building at 410 W.Grove Ave., Orange, and a 73,941-square-foot distribution facilityat 3 Holland in the Irvine Spectrum.

|

The lease rate for the Anaheim building is 62 cents per squarefoot with annual 2.5% increases. The lease commences in April 2011after refrigeration and other improvements are completed. Thefacility was built in 2001.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.