In an industrial deal in Garden Grove, Suzanne Richie and Steve Ehrich of Charles Dunn's Newport Beach office report that two individual investors bought a 22,400-sf building at 12082 Western Ave. for approximately $2.3 million from Cordrey & Cordrey. The Dunn brokers represented the buyer, with James Wootan of CB Richard Ellis representing the seller.
In another Inland Empire deal, Plumbing Concepts, a residential and commercial plumbing company based in Yorba Linda, paid $1.3 million for a new two building 11,526-sf industrial complex in Murrieta. Chris Migliori of the Anaheim office of GVA Daum reports that Plumbing Concepts acquired the concrete tilt-up buildings located on just under an acre of land in Creekside Business Park at 41728 Eastman Ave. and 41731 Corporate Center Drive. Migliori represented Plumbing Concepts, which is expanding into the Inland Empire with the acquisition. The seller, MSS Properties of Rancho Santa Margarita, were represented by Charley Black and Michael Strode of Lee & Associates.
In Tustin, Sperry Van Ness reports that a private developer based in Orange County acquired 1.2 acres at 12741 to 12791 Newport Ave. for $1.6 million as the site for an office redevelopment. Sharon Browning and Mehran Foroughi with Sperry Van Ness in Irvine represented both the buyer, and the seller, Key Family Trust. Browning says the property generated multiple offers and sold for more than list price in just two weeks on the market.
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