Stadium Crossings, a four-story office building in Anaheim, has sold for $32.5 million to Kingsbarn Realty Capital, a Las Vegas-based real estate private equity firm.
The seller, Pendulum Property Partners in Irvine, was represented by Newmark.
The 106,068-square-foot building at 2125 East Katella Ave. sits on a 3.3-acre lot. Anchor tenants include AA credit and the County of Orange, which occupies 50% of the building.
Pendulum Property Partners said it had secured a lease before the sale with the General Services Administration to take the building to 100% occupancy.
Other tenants include NTS, Incenter, Pearson and SunPower Corp.
“With a location in the heart of the Platinum Triangle submarket, Stadium Crossings offers the new owner a stable investment with future upside as the immediate vicinity is transformed into a 24-hour lifestyle and entertainment hub,” said Brandon White with Newmark.
Matthews Real Estate Investment Services is relocating to Irvine from Costa Mesa, leasing 11,188 square feet of office space for seven years at The Michelson. (Courtesy of CBRE)
Real estate firm relocates to bigger digs in Irvine
Matthews Real Estate Investment Services is relocating to Irvine from Costa Mesa, leasing 11,188 square feet of office space for seven years at The Michelson, according to CBRE.
The 19-story office tower at 3161 Michelson Drive is in the John Wayne Airport submarket.
CBRE’s Matt Didier, Jessie Tichelaar, Jake Stickel and Rick Warner represented the landlord, Manulife Investment Management. Griffin Farriss with Cresa represented the tenant.
“Matthews is rapidly expanding and to accommodate that growth, we aimed to upgrade our workplace to a new, sleek, and inventive office space,” said Bill Pedersen at Matthews Real Estate. “The Michelson is a best-in-class property, and we are excited for the opportunities the move will bring to our agents and employees.”
A 25,334 square-foot industrial building on a 1.45-acre lot in Anaheim has sold for $7.5 million. (Courtesy of DAUM Commercial Real Estate Services)
Kitchen remodeler buys Anaheim site for $7.5 million
A 25,334 square-foot industrial building on a 1.45-acre lot in Anaheim has sold for $7.5 million, according to DAUM Commercial Real Estate Services.
Chris Migliori at DAUM Commercial represented the seller and found the buyer, CA Kitchens Floors & Baths.
The new owner plans to occupy the building at 1340 South Claudina St. once the current tenant is fully vacated, Migliori said.
“The property is going to be occupied by a strong family-owned and operated tenant that provides over 28 years of general contracting experience. The building will be used for showroom, warehousing and distribution of materials for their remodeling company,” says Migliori.
Landsea Homes has broken ground on 489 new homes at its new master-planned community Narra Hills in Fontana. From left to right: Tom Baine, Landsea division president; Acquanetta Warren, Fontana mayor; Peter Garcia, Fontana mayor pro tem; Phillip Cothran, Fontana councilmember; John Roberts, Fontana councilmember; Jesse Sandoval, Fontana councilmember; Fay Glass, Fontana Parks, Community and Human Services Commissioner. (Courtesy of Landsea Homes)
Landsea launches work on Fontana new-home community
Newport Beach-based Landsea Homes has broken ground on 489 new homes at its new master-planned community Narra Hills in Fontana.
The community on 100 acres backs up to the San Bernardino National Forest. Narra Hills will include five home types including single-family homes, cluster homes and townhomes all within gates.
The community will have 233 detached single-family homes, with 155 on 10,000-square-foot lots, and 78 on 5,000-square-foot lots. Homes will range from one to two stories, up to five bedrooms, four-and-a-half bathrooms, and range from 1,316 to 4,100 square feet.
“Landsea Homes is thrilled to officially begin construction on Narra Hills, our first community in Fontana,” said Tom Baine, Southern California Division President, Landsea Homes.
Homebuyers will be able to “flex” space options with dens, bonus rooms, lofts or LiveGen suites — separate living spaces within the home for multi-generational families.
Narrra Hills also will include 127 cluster homes, a design that builds eight homes around a central motor court. These homes will be two stories ranging from 2,000 to 2,500 square feet with four bedrooms and three bathrooms.
The community’s 129 traditional townhomes will range from 1,300 to 1,800 square feet with options for two or three bedrooms and two to three bathrooms.
The anticipated grand opening for Narra Hills is slated for Fall 2022.
Real estate transactions, leases and new projects, industry hires, new ventures and upcoming events are compiled from press releases by contributing writer Karen Levin. Submit items and high-resolution photos via email to Business Editor Samantha Gowen at sgowen@scng.com. Please allow at least a week for publication. All items are subject to editing for clarity and length.
