An Australia-based battery tech company is planting roots in Orange County, leasing its first U.S. location in Rancho Santa Margarita.
EVO Power USA Inc., a battery energy storage company based in Australia, signed a 15,070-square-foot industrial lease at 30452 Esperanza. Terms of the lease were not disclosed.
“After searching locations in several other Western states for our first U.S. location, we chose the Orange County area because of the area’s growth in renewable energy as well as the access to premier labor in this specialty,” said Jamie Allen, Group chief executive of EVO Power.
JLL, which represented the company in the lease, said EVO Power will use its US headquarters for design engineering, assembly, testing and distribution of its battery energy storage systems or BESS.
The landlord, Fauna 43 LLC, was represented by Lee & Associates.
“As growth from e-commerce companies in Orange County slows slightly, we are seeing increased interest for industrial space from renewable energy companies especially as the federal government has been extending subsidies to manufacturers of clean energy technologies in the U.S. under the Inflation Reduction Act,” said Kris Smith, a vice president at JLL.
EVO’s products work with various solar and grid support applications, the company’s website states.
In other battery tech news related to Orange County, Enevate in Irvine said it was partnering with a South Korean battery maker to develop a manufacturing facility somewhere in the United States. The company, which is developing fast charging and “high energy density” battery tech for electric vehicles, and South Korea’s JR Energy Solution in late July said they would develop a battery cell electrode facility.
Hospitality firm TMC buys agritourism farm in Santa Ynez
Irvine-based TMC Hospitality has acquired the 107-acre Buttonwood Farm & Winery in Santa Ynez Valley.
Terms of the deal were not disclosed.
TMC bought the property with Simpatica, a Camarillo-based sustainable farming company. It will be the first agritourism project for TMC.
Buttonwood Farm & Winery was created in 1968 as a home to horses and organic vegetable farms, the company said. The vineyards and winemaking came in 1983. Today, the property has a 42-acre vineyard, a 10-acre farm, a winery, tasting room and gardens.
“It’s an honor for Buttonwood Farm & Winery to join our growing portfolio of hospitality projects,” said Philip Bates, CEO of TMC Hospitality. “We are excited about the future of Buttonwood and the opportunity to create special experiences for locals and travelers alike in a community that we enjoy working with.”
The hospitality firm earlier this year bought Drift Hotels in Santa Barbara and Palm Springs.
Another small apartment complex trades hands
Small multifamily property deals continue to attract investors in Orange County.
The latest deal saw a 12-unit apartment complex in Costa Mesa sell to VWC LLC for $5.7 million or $475,000 per unit.
The 55-year-old property at 2312 Santa Ana Ave. sits on a 36,155-square-foot lot and was sold by the Tipton Family Trust. The complex features two-bedroom apartments with parking garages apart from the living quarters.
See more: Investors gobble up 4-plex apartment properties
Nick Gould at Morgan Skenderian Investment Real Estate Group said it was the first time the complex had sold since its completion in 1968. Property records show the complex first listed in February for $7.195 million. An offer for $6.8 million listed in June apparently fell through.
The August sale represented a 16.2% price cut for the buyers.
Just a week ago, we reported that another 12-unit property, not quite 2 miles to the west, sold for $3.2 million. The four-building complex spanning 7,530 square feet sold for $246,154 per unit and marked the property’s first sale in 30 years. In July, several four-plexes sold for top dollar across the county in 1031 exchanges.
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.
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