The e-commerce services company Products Go paid $18.1 million for a 55,362-square-feet industrial building in Buena Park, according to CBRE.
The building at 8401 Page St. sits on nearly 3 acres near the 5 and the 91 freeways.
CBRE represented the seller, which it did not identify, in the transaction. PropertyShark records show the owner was Jss-8401 Page Street LLC, which bought the property in 2015 for $7.45 million.
Santa Ana apartment complex fetches $$5.85M
A 16-unit apartment complex in Santa Ana recently traded hands for $5.85 million.
The seller was a family trust and the buyer a limited liability company called Gia The Group LLC, according to records provided by Property Shark.
The gated property at 520 East Walnut St. is made up of two-bedroom townhome units. All the parking is underground.
Marcus & Millichap, which represented the family trust, said the buyer has the potential to increase rental income by converting existing space on the property into an accessory dwelling unit.
The property is 1.5 miles from Santa Ana College.
EBS in Irvine buys in North Las Vegas
Irvine-based EBS Realty Partners and its joint venture partner, Hartford Connecticut-based Penwood Real Estate Investment Management, recently paid $31 million for a 90.96-acre industrial site in North Las Vegas.
The seller was Ball Metal Beverage Container Corp.
The partners will build Apex Ridge, a Class-A tilt-up complex with two logistics buildings, at 9150 N Terryl B Adams St. The combined warehouse space will span 1.36 million square feet, according to EBS.
The real estate investment firms were particularly attracted to the city’s business-friendly regulatory framework and advantageous tax structure, according to Quinn Johnson, a managing principal and founder of EBS.
“Of the many factors considered in making an investment of this magnitude, one stood out, the city’s strategic location,” he said. “Within a day’s round-trip drive to the ports of Los Angeles and Long Beach, the Las Vegas Valley can service nearly 20% of the US population within two days.”
The firms expect to start construction later this year.
CapRock makes another buy in Reno submarket
CapRock Partners in Newport Beach has acquired a 117,000-square-foot industrial building in Sparks, Nevada.
The firm declined to provide financial terms of the deal, but said it marked CapRock’s third in Reno’s industrial submarket.
Built in 1995, the warehouse dubbed 55 Vista Boulevard sits on 5 acres and is leased to Keefe Coffee & Supply, a commissary supplier to prisons and jails.
“Sparks’ advantageous location and business-friendly policies make it a competitive and attractive area for companies looking to establish or expand their operations in the Western U.S.,” said Chad Ridenour at CapRock Partners.
Westport nabs 2 self-storage properties
Newport Beach-based Westport Properties recently acquired a self-storage portfolio that includes two StorQuest Self Storage properties in Southern California.
Terms of the deal were not disclosed by Westport. The unidentified seller was represented by Cushman & Wakefield.
The self-storage facilities are in Carson and Carlsbad in San Diego County, built in 2006 and 2008, respectively. They have a combined 270,841 rentable square feet and 2,284 units, which were 90% occupied at the time of sale, the brokerage said.
On the move
The commercial real estate firm Sperry recently hired Blake Trinh, Jamie Trang and Ken Payne as an affiliate under the name Sperry-Landmarq CRE. Sperry said this new team will be based in Garden Grove. Trinh is president of the new affiliate and specializes in land and hotel sales and leasing commercial real estate.
SRS Real Estate Partners recently hired 10 professionals from Berkeley Capital Advisors. All will work from the firm’s Newport Beach office. Those hires include Calvin Short, Aron Cline, and Gary Chou, all executive vice presidents and managing principals. David Faris, Cortland Lioi and Zack Williams are new vice presidents. George Gomez, Thomas Feldman and Hoffman Moore are associates. Matthew Coates is senior client services manager.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to sgowen@scng.com . Please allow at least a week for publication. All items are subject to editing for clarity and length.
