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TUSTIN, CA-Bixby Land Co. has acquired a 122,807-sf industrial building at 1201 Bell Avenue in the Irvine Business Complex from Little Britain Holdings LLC for $10 million and plans a makeover to turn it into a modern warehouse and distribution center. according to Grubb & Ellis.

The building occupies more than 5.4 acres, with rail-spur access, and will be converted to provide six units for lease ranging in size from 10,000 sf to 32,000 sf, according to Bob Griffith of Grubb & Ellis Co., who represented Bixby Land Co. He says each unit of the reconfigured single-story building will feature an enhanced entry, new office area, as well as dock-high and grade level doors. The seller of the property was represented by Dave Desper and Phil Cohen of CB Richard Ellis.

The Bixby Land Co. project joins a list of other recently closed deals involving industrial property in Orange County and the Inland Empire, among them the $3.8 million purchase by Care Ambulance of a 36,000-sf industrial building in Orange to house its corporate headquarters. Care Ambulance is slated to occupy the single-story, concrete tilt-up building, which is located at 1517 Braden Court, in January. The ambulance company will be relocating from Anaheim. The building was sold by Cook Investment Co. of Orange, which was represented by Jim McFadden and Bob Crenshaw of Grubb & Ellis’ Anaheim office, with Jim Cunningham of Grubb & Ellis’ Newport Beach office representing the buyer.

In Costa Mesa, Sperry Van Ness reports that Costa Mesa-based 85017 Partners LLC bought a 16,360-square-foot facility at 830 W. 18th St. from a private investor for $2.1 million. Dennis Moore of Sperry Van Ness in Long Beach represented the buyer, with Mark Buchanan of Davis Partners LLC representing the seller. The property was built in 1966 on a one-acre site and is 95% leased to several tenants.

In Lake Forest, Jeff Carr of the Newport Beach office of CB Richard Ellis reports that JAL Holdings LLC bought a 12,208-sf building at 20432 North Sea Circle from two individual investors for $1.8 million. Carr also represented JKSWA in the recent sale of a 6,700-sf building at 26772 Vista Terrace in Lake Forest to Meeker Cos. of Irvine for $1.1 million. The buyer was represented by Johnny Eubanks of Lee & Associates.

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