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SANTA ANA, CA-An affiliate of KTR Capital Partners of New York City has acquired the 296,000-square-foot, 100% leased Santa Ana Distribution Center from Prudential Real Estate Investors acting on behalf of institutional investors, according to the buyer. Built in 1998, the distribution center is located at 1801-1995 South Standard Ave. and is occupied by two tenants.

The center’s location is in the Airport Industrial Area submarket, on a 15-acre site near the intersection of the Costa Mesa Freeway (55), the San Diego Expressway (405) and the Santa Ana Freeway (5). Brian Gagne, a KTR vice president, says that the acquisition continues the firm’s strategy of acquiring functional, well-located properties in markets with high barriers to entry.

Gagne calls the Santa Ana Distribution Center “one of the best high-bay distribution buildings in the Orange County marketplace.” He adds that Southern California is a core market for KTR, which closed its fist major acquisition here last year. In that deal, it bought a 790,000-square-foot warehouse and distribution complex called Mission 71 Business Park in Pomona from Alliance Commercial Partners of Lakewood, CO for roughly $54.5 million through a KTR affiliate, according to a GlobeSt.com report at the time.

In the acquisition of the Santa Ana Distribution Center, the seller was represented by Jeffrey Cole and Ed Hernandez of Cushman & Wakefield. KTR did not have broker representation. Terms of the deal were undisclosed. KTR will continue to seek new industrial acquisition opportunities in L.A. County, Orange County and the Inland Empire in 2009, according to Gagne.

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