Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ANAHEIM, CA-A joint venture of Irvine-based Birtcher Development & Investments and Cornerstone Real Estate Advisers has been named to develop a 375,000-square-foot build-to-suit warehouse for the Northgate Gonzalez Markets grocery chain. The new facility will be built on a 21.6-acre parcel at 1201 North Magnolia Ave.

Northgate, a family-owned grocery store chain, has signed a 15-year lease to occupy 100% of the warehouse, which will be called the Northgate Gonzalez Market Support Center. The developers say that the warehouse and distribution center will be developed according to LEED standards, with construction expected to begin in the fourth quarter of 2009 and be completed in 2010.

Shannon Hondl, senior vice president of development and acquisitions at Birtcher, notes that the developers acquired the parcel after “pursuing this exceptional site for six years and winning a rigorous bidding process.” Cornerstone, on behalf of one of its clients, provided the construction financing and the equity for the deal.

The development site is at the interchange of interstates 5 and 91, giving it prime access to major transportation routes. The City of Anaheim provides a central location within the Southern California market and offers business incentives, including discounted power rates, the developers point out.

The joint venture of Birtcher and Cornerstone was represented by Clyde Stauff, Bret Hardy and Pat Remolacio of Colliers International in the acquisition of the property. The Colliers team also represented the seller, Delphi Automotive, and brokered the lease on behalf of Birtcher/Cornerstone. Northgate Gonzalez Markets was represented by Joe Tilton and Steve Pearson of DAUM Commercial Real Estate Services.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.