FULLERTON, CA-Raymer Avenue LLC has acquired an industrial building of nearly 168,000 sf on behalf of Alere Property Co., a pension fund adviser, for $17 million in a deal with a local investment group. Mike Hefner, SVP at the Anaheim Metro office of Voit Commercial, tells GlobeSt.com that Alere plans to hold the property for the long term as a leased investment.
The new Alere asset, which is located at 2051 and 2091 Raymer Ave., was built in 1999 and is a multi-tenant building that was 100% occupied at the time of the sale.
Hefner and fellow Voit broker Jack Faris of the Anaheim Metro office represented the seller, K-II Fullerton, a private investment group, with Faris also representing the buyer.
Hefner also reports that a private investment group has acquired a 57,245-sf office building at 180 Riverview Dr. in Anaheim from Newport Beach-based LBA Realty Fund for $16.5 million. Hefner represented the buyer, with Bob Griffith of Grubb & Ellis representing the seller. The multi-tenant building was constructed in 1989 and was 100% occupied at the time of the sale.
The Fullerton and Anaheim deals were two of four recent Orange County transactions involving industrial and office sales. In the third, privately held McLellan Estate Co. sold a 17,150-sf, two-tenant industrial building at 1672 and 1680 Sierra Madre Circle in Placentia for $2.6 million. Hefner and Voit's Mitch Zehner represented the seller, with Hefner also representing the buyer, a private investor.
In the fourth deal, McLellan sold a 7,632-sf building at 1688 Sierra Madre Circle to an individual buyer for $1.3 million. Hefner and Zehner represented the seller, with the buyer represented by Mike Vernick and Seth Davenport of Voit's Anaheim Metro office.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.