Foremost Acquires Four Properties

LAGUNA HILLS, CA-Foremost Business Parks LLC has expanded its portfolio by approximately 93,000 sf with $15 million in acquisitions of multi-tenant industrial and multi-tenant office space in South Orange County, according to Voit Commercial Brokerage.

The four purchases by the Laguna Hills-based investment firm include the Talega Business Park in San Clemente and three other buildings in Rancho Santa Margarita, according to Alan Pekarcik of the Irvine office of Voit.

Pekarcik, along with Dan Vittone of Voit’s Irvine office, represented Foremost in all four transactions. The 48,844-sf Talega Business Park was the largest of the four acquisitions. It is a multi-tenant industrial park located at 1221, 1225, 1231 and 1235 Puerta Del Sol and sold for $6.8 million. Rob Johnston of Johnston Pacific represented the buyer in partnership with Voit. Lee & Associates represented the seller, Burke Real Estate, which developed the buildings and completed construction last year.

Two of the other buildings Foremost acquired were in the Arbours Office Complex in Rancho Santa Margarita, a 14-building office park that was developed by Investment Development Services of Los Angeles. Those buildings include a new, 12,984-sf, single-story office building at 29801 Rancho Santa Margarita Parkway, which Foremost bought for $2.4 million. The second building at the Arbours complex was a 12,738-sf, single-story, multi-tenant building at 29883 Rancho Santa Margarita Blvd. Foremost acquired it for $2.39 million, with Jeff Hanson and David Smith of CB Richard Ellis represented IDS in the sale of both of the Arbours buildings.

In the final transaction, Foremost acquired a two-story, 18,600-sf office building at 22362 Gilberto in Ranch Santa Margarita for approximately $3 million from Atlas Building Co., which was represented by Sam Olmstead of Voit’s Irvine office.