X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

IRVINE, CA-Hardware wholesaler Markimex has signed a five-year lease for a 40,000-sf industrial building in the Irvine Business Complex in one of a series of recently closed transactions, including four sales, that totaled nearly $13 million. Markimex, which was represented by Kathe Morgan and Lee McCullough of Colliers International’s Irvine office, is a wholesale supplier of OEM plumbing products, fasteners and hardware.

Markimex will operate its corporate headquarters and southwest regional distribution hub from the industrial facility, which is at 2712 McGaw Ave. and is owned by the Irvine Co., which represented itself in the deal. McCullough notes that Markimex’s current building “was put into play as part of the residential boom when a developer acquired the building as a future multifamily site.” Finding another location in Irvine was important to the wholesale supplier because it wanted to stay in the city, McCullough adds.

The other deals included the sale of a 20,000-sf industrial building at 641 S. State College Blvd. in Fullerton that buyer Glenaire Inc. will occupy as space for its air conditioning business, according to Voit Commercial Brokerage. The private investor who sold the property was represented by Seth Davenport of Voit’s Anaheim Metro office, with Glenaire represented by Bob Satler of Lee & Associates.

In another acquisition by an owner-user, MEA Properties, a holding company for forensic scientists and engineers, acquired an 11,380-sf industrial building at 23281 Vista Grande in Laguna Hills. MEA, which is based in Canada, acquired the building to further establish itself in California, according to Voit’s Steve Lane, who represented the buyer. The seller, Color Digit, was represented by Joe Winkelman of Colliers International.

The other two sales were a 17,400-sf building at 37 West Valencia Dr. in Fullerton and a 6,018-sf building at 1285 N. Patt St. in Anaheim. Real Estate investor Cedar Mountain LLC bought the Fullerton building, with Mike Vernick and Mike Hefner of Voit’s Anaheim Metro office representing the buyer and Steve Brackmann of Ashwill Associates representing seller Cardinal Investment Properties.

The buyer of the Anaheim building was also a real estate investor, Radco Investments, which was represented by Vernick. The seller, North Anaheim Industrial Park, was represented by Jim Deregt and Brad Gilmer of Lee & Associates.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.