Birtcher Anderson Acquires $29M Portfolio

SAN JUAN CAPISTRANO, CA-Birtcher Anderson Realty LLC has acquired a 12-building, 251,219-sf portfolio of industrial property in Southern California from Newport Beach-based ZMI Real Estate, Inc. for $28.76 million. The portfolio includes Carson Industrial Center in Carson, Civic Commerce Center in Irwindale and Simpson Business Park in Escondido.Birtcher Anderson acquired the properties, all of which are nearly 100%occupied by small local tenants, in a direct deal between buyer and seller. Knightsbridge Realty Capital of Newport Beach acted as the mortgage broker.The investment represents a diversification for Birtcher Anderson, according to Bob Anderson CEO of Birtcher Anderson Realty. He explains that the investment in small-tenant industrial buildings with high occupancies contrasts with the many investments that the company has made recently in office properties with "large tenant leasing challenges."Office acquisitions totaled 75% and industrial properties 25% of the holdings that Birtcher Anderson acquired in 2005. For the year, the company Birtcher Anderson Realty bought 1.1 million sf of office and industrial buildings for $156 million.Anderson says the small industrial buildings represent an investment that "is resistant to the negative affects of cyclical economic downturns. The strong entrepreneurial business culture in Southern California "creates strong and reliable demand for this type of product," he explains. A number of other prospective buyers competed for the industrial portfolio, Anderson notes.The Carson Industrial Center, at 17101–17121 Central Ave. in Carson, comprises two buildings that constructed in 1970 and totals 94,230 sf on 4.36 acres. Civic Commerce Center., at 16021–16031 E. Arrow Highway in Irwindale, consists of six buildings completed in 1987 totaling 101,044 sf on 6.04 acres. Simpson Business Park, at 1305–1317 Simpson Ave. in Escondido, is a four-building complex built in 1981 that totals 55,945 sf on 3.23 acres.