Work has begun on a 139,535-square-foot industrial complex in Anaheim.
Hines is building the warehouse on 7 acres at 701 E. Ball Road with Voit Real Estate Services working on the marketing, sale or leasing the facility.
“701 E Ball Road offers an unparalleled location in the heart of Anaheim’s bustling submarket, with close proximity to the Interstate 5 freeway and major ports, making it ideal for national credit tenants, third-party logistics providers, and international importers,” said Tom Lawless, managing director at Hines, in a statement.
The project is due to wrap up by November, Voit reps said.
San Clemente triplex near beach sells for $2.75 million
A three-unit apartment building in San Clemente recently traded hands for $2,745,000.
Morgan Skenderian Investment represented the owner, the Friedman Revocable Trust, in the sale at 514 Avenida Victoria. The buyer was Stewart Alan Davis and Julie Rose Davis.
The three-story, 3,829-square-foot building dating to 1975 is just a block from the beach. It features three apartments with a combined seven bedrooms and seven bathrooms perched over garage spaces on the ground level.
In 2016, the owners renovated units A and B, according to documents provided by PropertyShark.
Lefko tapped partner at Hanley
Jeff Lefko was recently named partner at Hanley Investment Group in Corona del Mar.
“I am excited to welcome Jeff as my partner in Hanley Investment Group,” said Ed Hanley, president of the firm. “Jeff’s expertise, leadership, and unwavering commitment to our clients have been instrumental in our continued success.”
Lefko joined HIG in 2015, averaging more than 100 transactions per year since 2020, and 127 transactions since 2022. All told, Lefko has reaped $3.3 billion in sales for the firm since 2018.
The firm, which turns 20 this year, is also expanding south, opening an office in San Diego where Lefko will be in charge.
On the move
Troy S. Jenkins recently joined Irvine-based Avanath Capital Management, a multifamily property owner and operator, as senior vice president of its Investor Relations division. He will lead capital-raising initiatives for the firm’s affordable housing, development and debt funds. He most recently worked at Avison Young Investment Management.
Ana Cervantes was promoted to director of Resource Services at Ware Malcomb’s Irvine office where she will lead operations for the firm’s domestic production studios. In the industry since 2012, Cervantes has seen multiple promotions in her 10 years at Ware Malcomb. Her work has included corporate office, industrial, healthcare and science and technology.
Justin McMahon has rejoined CBRE as senior vice president in the brokerage’s Orange County office. His specialty is representing owners and tenants of retail properties. He most recently spent five years at JLL, working on marketing and leasing shopping centers while representing retail and restaurant tenants.
Ladera Ranch resident Kent Crandall is the new chief financial officer at Culver City-based Goldrich Kest, a privately owned firm that specializes in real estate investors, developers and property managers. Crandall previous roles include CFO of Lafayette Real Estate in New York, executive vice president of Tricon American Homes in Tustin, and CFO of MBK Real Estate in Irvine.
Milestones
Lawrence R. Armstrong, chairman and former CEO of Ware Malcomb in Irvine, has released his first book, “Layered Leadership.” The book focuses on how leaders can “build more dynamic and successful organizations by blending layers of strategic thinking, creativity, and resilience to address challenges and opportunities.” Armstrong pivoted to chairman from chief executive at the design firm in 2020.
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.
