(Read more on the industrial market.)

NEWPORT BEACH, CA-Hager Pacific Properties has renewed Stater Bros. to a $35-million lease at one of the Newport Beach firm’s Inland Empire properties and has expanded its portfolio of Orange County holdings with the acquisition of a $6-million industrial building. The Stater Bros. lease is for the supermarket chain’s 788,000-sf corporate campus in Colton, and the $6-million acquisition is a 65,000-sf building in Anaheim.

The Stater Bros. deal is for 15 years at its current corporate campus at 21700 Barton Rd. in Colton, which has been the corporate home of the company for more than 40 years. The Colton campus includes corporate office, dry goods warehousing, freezer and food produce buildings.

The grocery chain also will develop 140,000 sf of distribution space on seven acres located adjacent to the campus. Stater Bros. is still in the process of developing its new corporate campus at the former Norton Air Force base in San Bernardino, which it plans to occupy in 2008.

According to Adam Milstein, a managing partner of Hager Pacific Properties, Stater Bros. will be subleasing the Colton campus once it relocates to its new headquarters at the former Norton Air Force Base. The Stater Bros. campus sits on 50 acres.

Hager Pacific owns an additional seven acres of vacant land at the location that is not part of the Stater Bros. leased premises. The Newport Beach firm says that the 140,000 sf of distribution space for Stater Bros. will be developed on this site.

The Anaheim property that Hager Pacific bought is the home of Expo Dyeing and Finishing Inc., a textile dyer, at 1365 N. Knollwood Circle. Expo has occupied the building since 1987 and will continue to operate in the property under an existing long-term lease.

The building is situated on three acres and partially fronts the interchange between the 5 and 91 freeways. Hager Pacific was represented by Jeff Demorest of Daum Commercial, with Troy Williams of Grubb & Ellis representing the seller. Financing was arranged by Bruce Krall of Cohen Financial and provided by the Principal Life Insurance Co.

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