X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEWPORT BEACH, CA-Bixby Land Co. has named Cushman & Wakefield as property manager for a portfolio of nearly 3.5 million sf of office, industrial and retail properties in Southern California. Berkeley Davis, director of property management for Bixby Land Co., tells GlobeSt.com that the assignment includes the bulk of Bixby’s holdings except for about 700,000 sf of properties that the locally based private REIT owns in Northern California and Arizona.

With the new assignment, Cushman & Wakefield will manage 37 properties throughout Southern California for Bixby Land. Davis tells GlobeSt.com that Bixby Land in the past has managed some of the properties in house and has relied on third party management for others.

Cushman & Wakefield won the contract “as a result of an impressive bidding effort,” Davis says. She notes that Cushman & Wakefield also was helpful recently in Bixby Land’s due diligence process when the locally based company was acquiring five Orange County office projects.

Cindy Burger, a director with Cushman & Wakefield’s client solutions group, will be managing the portfolio. Cindy Osmundson, named portfolio manager, will be supervising the office part of the portfolio.

The portfolio consists of 1.6 million sf of industrial, 1.3 million sf of office and 600,000 sf of retail space. The office properties include buildings in Newport Beach, Irvine and Seal Beach, while the industrial space comprises buildings in the Inland Empire ranging from 20,000 sf to 400,000 sf. Most of the retail properties are in Long Beach.

The new property management contract follows Bixby’s expansion of its holdings in recent months with the $345-million acquisition of a portfolio of Orange County office buildings from Los Angeles-based Maguire Properties. The deal with Maguire added 11 buildings totaling 816,000 sf at five locations in Newport Beach, Irvine and Seal Beach to the Bixby Land portfolio.

Besides the space it acquired, Bixby plans a new 100,000-sf, four-story office building on a development site at 17300 Red Hill Ave. in Irvine that was part of the deal with Maguire. The firm also has been active in the industrial market lately, signing several large leases at its Bixby Redlands Business Center, a 227-acre masterplanned business park in the Inland Empire.

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.