Tile Importer Pays $24M for Warehouse

ANAHEIM, CA-Bedrosians Tile & Stone of Fresno had acquired a 375,000-sf building at 1515 Winston Rd. from the Sares-Regis Group for $24 million, according to Cushman & Wakefield. The facility serves as a distribution center for the importer of tile and stone, which occupied the building this spring on a lease with an option to buy.Jeff Chiate of Cushman & Wakefield's Irvine office says the key to the deal was the lease that Bedrosians signed in April, which enabled it to exercise its purchase option. Chiate and Rick Ellison of Cushman & Wakefield's Irvine office represented Bedrosians, with Sares-Regis represented by Brad Bierbaum of the Anaheim office of CB Richard Ellis.The Bedrosians building, which has undergone renovations to accommodate the tile importer, is adjacent to a stretch of retailers, showrooms and distributors selling tile, marble and related products that is known as "Tile Row" and the "Mile of Tile." Bedrosians' purchase of the Winston Road building is the latest in a series of moves this year in Southern California by the Fresno company, which is one of the country's largest importers of tile and stone.Earlier this year Bedrosians vacated a 122,000-sf distribution center at 710 Ball Rd. in Anaheim to relocate to the larger Winston Road facility. The company recently leased the Ball Road building to Rocky Mountain Stone in a five-year deal valued at $4 million. Chiate and Ellison represented Bedrosians, with Rocky Mountain Stone representing itself.With its expansions this year, Bedrosians occupies 1.2 million sf of space in Orange County, including a company-owned 498,000-sf building in Tustin that serves as its Orange County showroom, warehouse and corporate distribution center. Among its other Southern California locations is a warehouse of nearly 100,000 sf in San Diego that it leased this summer.