(To read more on the industrial market and net lease markets, click here.)

ANAHEIM, CA-The seller of a 106,000-sf industrial building has taken the $20.2 million in proceeds from that deal and applied them toward the acquisition of three properties in Orange County and the Inland Empire for $23 million, according to CB Richard Ellis. Tom McAllister of the Anaheim office of CBRE tells GlobeSt.com that Whittle Investors, which sold the 106,000-sf industrial property to Lennar Homes, has since acquired two properties and is in escrow to buy a third.

The two properties that Whittle bought are a 26,232-sf distribution facility at 25111 Arctic Ocean in Lake Forest that is occupied by Journey Electric Technologies and a 116,763-sf industrial building at 40750 County Center Dr. in Temecula that is occupied by Tension Envelope Co. In addition, Whittle is in escrow to buy a 13,000-sf office building in Irvine.

McAllister and Jim Wootan, also of the Anaheim office of CBRE, represented Whittle in the sale of the 106,000-sf industrial building and in all three of the other deals. McAllister notes that all three of the buildings that Whittle is acquiring are fully leased.

The building that Whittle sold is at 2050 S. State College Blvd. in Anaheim and is one of 40 properties that Lennar Homes of California has acquired to develop its A-Town mixed-use project in the Platinum Triangle area of the city. McAllister tells GlobeSt.com that the State College Boulevard property that Whittle sold was the last of the 40 Lennar acquisitions to close.

Whittle bought the Lake Forest building from Roxie Real Estate Investments, with Jon Marchiorlatti of CB Richard Ellis’ Newport Beach office representing the seller. It bought the Tension Envelope building in a sale-leaseback, with McAllister, Wootan and Tom Dorman of CB Richard Ellis representing both sides of the deal.

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