Rreef Buys 203,000-SF Industrial Park

The master-planned complex was completed by Ewing Development about a year ago and is unoccupied. It is at the corner of Walker Street and Vessels Circle, just north of Katella Avenue and adjacent to Los Alamitos Race Track. The four buildings range in size from 39,000 sf to 67,000 sf.

Michael Collins and Nate Olson of Collins Commercial represented the seller, while Newport Beach-based Koll Co. served as an advisor to Rreef in the transaction. Ashley Powell, a Rreef vice president, noted that San Francisco-based Rreef and Koll have a long history in working together on the acquisition and development of properties in Southern California and other states. Rreef has retained the CB Richard Ellis marketing team of Brian DeRevere, Bob Goodmanson, Brad Bierbaum and Steve Batcheller to lease or sell the buildings.

Alan Airth, a Koll principal, says the industrial project is close to the ports of Long Beach and Los Angeles. Likely tenants or buyers for the buildings, he says, are corporate users who will be drawn to the development's West Orange County location and other features. Airth says the new owners plan interior and exterior improvements as well.

Rreef manages $17.6 billion in pension fund real estate investments for more than 200 corporate, public and international clients. Its activities include private and public market equity investments, ranging from core investments to higher return, higher-risk holdings that include development. Rreef is an indirect wholly owned subsidiary of Deutsche Bank, AG, one of the world's largest financial institutions. It operates as a business unit within DB Real Estate, the global real estate investment management business of Deutsche Bank.

The Koll Company acquires, develops and manages commercial real estate investments for institutional investors and high net-worth individuals. Since its founding in 1962, the company has developed more than 85 million sf of office, industrial and retail space.