IRVINE, CA-An Orange County-based company has acquired a 95,000-square-foot industrial property as its new headquarters in the latest in a series of headquarters deals in Southern California. The building, at 7352 Von Karman Ave., formerly was slated to be an office/industrial condo project, according to brokers from Voit Real Estate Services who represented the seller.
Cameron Driscoll and Luke McDaniel of Voit Real Estate Services’ Anaheim Metro office, and Mike Hartel and Travis Haining of Voit’s Irvine office, represented the seller, MAM-Von Karman LLC. Mike Barreiro and Gavin Denniston represented the buyer, ICC-CHT, who paid $8.65 million for the property.
“The property was previously acquired by an investor that planned to convert the asset into an office/industrial condo project," Driscoll said. "By working with the lender, we decided to rebrand the project back to a single-user facility and were able to capture the strengthening owner/user market to secure a buyer.”
ICC-CHT joins a list of owner-users and other companies that have either acquired properties or signed leases for new and/or expanded headquarters buildings in Southern California in recent weeks and months. In another Orange County deal, for example, Obey Clothing has relocated its headquarters to Irvine from Santa Ana. The clothes maker has leased a building measuring 97,400 square feet on Von Karman Avenue situated near John Wayne Airport. Obey had been in a pair of Santa Ana buildings with about 60,000 square feet of space.
In Santa Monica, biotech company Agensys Inc. Agensys plans to build a new 160,000-square-foot headquarters on a four-acre parcel at 1800 Stewart St. where it bought the ground leasehold interest on the parcel from the Lionstone Group. The two buildings currently sitting on the site will be demolished for the $95-million project, which will be ready for occupancy by Agensys in early 2013.
In Riverside, the new owner of a 175,000-square-foot industrial building will occupy half of the building initially and then will take the rest of the space when a tenant's lease expires. New owner Aviar Investments LLC, operating as Innova Champion Discs, bought the building, which is at 900 S. Dupont Ave., from Principal Life Insurance for $10.5 million. The remainder of the property is occupied by Proctor & Gamble, so the plan will be for Aviar to occupy the remainder of the building when Proctor & Gamble’s lease expires.
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