ORANGE, CA-Burnham USA Equities Inc. of Newport Beach has closed on its purchase of Batavia Business Park from two individual investors for just under $11 million, marking Burnham's third acquisition in the city in recent months. The Newport Beach-based company now has seven properties in Orange.
Batavia Business Park consists of five separate industrial buildings that total approximately 100,000 sf at 1402-1424 Batavia St. and 1130 Trenton St. The park is located north of Katella Avenue and is a few blocks east of the Platinum Triangle, Edison Field and the Anaheim Pond.
Stephen Thorp, Burnham's VP and director of acquisitions, tells GlobeSt.com that the company plans a remodeling of the property that will significantly upgrade its image. He describes the surrounding marketplace as "one of the most dynamic industrial markets in Orange County" and cites the extensive redevelopment taking place in the Platinum Triangle.
The buildings Park range from 14,000 sf to 28,500 sf at Batavia Business Park, which remained under the same ownership for 15 years before Burnham bought it. Burnham has already begun improvements to its new asset, with plans that include upgrades to its overall landscaping, building exteriors and parking.
Among Burnham's holdings in Orange are the recently completed City Town Center, a Best Buy anchored center near the Block at Orange; the Orange Town and Country shopping center adjacent to the Main Place Mall, which is anchored by Pier 1 Imports; the Staples-anchored Orange Villa Shopping Center and a former Brunswick Bowling alley site on Tustin Avenue where Burnham is working on entitlements to develop the site. Its purchase of the Batavia Business Park was brokered by Steve O'Hara from O'Hara Financial Services.
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