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SANTA FE SPRINGS, CA-Three Springs Corp. of Encino has purchased a fully leased, 43,868-sf industrial facility from Turner Development Co. in Newport Beach for $3.6 million, according to Daum Commercial Real Estate Services.

Chuck Gardner of the Newport Beach office of Daum reports that the manufacturing and distribution building occupies 3.2 acres at 9835 Santa Fe Springs Rd. Gardner represented Three Springs Corp., with Cliff Fincher of the Anaheim office of Lee & Associates representing the seller.

The building is occupied by New Century Re-Manufacturing, a publicly held company that is based in Santa Fe Springs and specializes in refurbishing heavy machinery. The building is a freestanding, concrete tilt-up structure featuring 4,000 sf of office space, a large yard and three bridge cranes.

Three Springs Corp. is the commercial division of the residential builder, the Larwin Co., which has extensive industrial holdings in Southern California and is actively looking to expand the portfolio.

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