SANTA FE SPRINGS, CA-Greenlaw Partners of Newport Beach and Guggenheim Real Estate have taken title to a 182,566-sf industrial property at 9601-9603 John St. that is fully leased to a single tenant. The $15.3-million acquisition marks the 12th deal that the joint venture of Greenlaw and Guggenheim has closed since the two firms formed the joint venture.
Rob Socci, SVP in the Anaheim Metro office of Voit Commercial Brokerage, says that the investors were looking for "a property with a reputable tenant in a very solid industrial market," and the John Street building filled the bill. Socci represented the buyers of the asset, which is leased to Quixote Corp. The seller, a private investor, was represented by Chris Migliori of GVA Daum.
Other assets acquired by Greenlaw Partners and Guggenheim include a 129,600-sf industrial property in Anaheim that they bought this year for $11.1 million. The property is at 605-611 E. Cerritos Ave.
Another of their deals, in San Diego, was the $47.3-million purchase of a three-building, mixed-use portfolio totaling more than 234,000 sf. The portfolio consists of the Rio Vista building at 8885 Rio San Diego Dr. and Kearny Mesa Crossroads at 3750 and 3760 Convoy St.
Greenlaw is a development and investment management company that was formed in March 2003 by Wilbur H. Smith III and John Tumminello Jr. The company has since acquired 20 properties valued in excess of $550 million. Guggenheim manages an open-end diversified real estate portfolio.
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