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HUNTINGTON BEACH, CA-A joint venture between CT Realty Investors and Artemis Real Estate Partners has purchased a 102,700-square-foot industrial building at 17311 Nichols Lane here for $10.6 million from the previous owner/user of the property. The transaction was made on behalf of New York State Common Retirement Fund‘s $300-million real estate emerging manager program. The facility is located approximately 2 miles from I-405 and 12 miles from the ports of Los Angeles and Long Beach within the Orange County West submarket. Features include an onsite rail spur, 24-ft.-26-ft minimum warehouse clearance, five dock-high loading doors and six ground-level doors, as well as 7,600 square feet of first- and second-story office space. In addition, the JV has signed a 10-year lease for the property valued at approximately $9.1 million with Driessen Aircraft Interior Systems Inc. Darin McDonald and Ted Sawyer with Lee & Associates‘ Newport Beach Office represented the buyer, while Jeffrey Read and Scott Read of Newmark Grubb Knight Frank‘s Newport Beach office represented the seller. McDonald and Sawyer also represented Driessen in the lease transaction.

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