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Anaheim Tech Center’s Big Deal; Bay Area Firm Buys OC Apartments
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Trammell Crow Co.’s Irvine office has gained a significant presence in the San Diego market by scoring the marketing of a 500,000-square-foot office portfolio in that region.
The five low-rise and mid-rise projects in Del Mar Heights, Carmel Mountain Ranch, Kearny Mesa and Mission Valley are expected to fetch $80 million.
The Trammell Crow team of Rick Putnam and Jeffrey Cole, along with Phil Monroe of Burnham Real Estate, San Diego, are selling the portfolio on behalf of a pension fund advised by Clarion Partners.
The “institutional quality” office buildings are renting significantly under market and professional service firms make up 67% of the tenant base, Putnam said.
He said the portfolio has received strong interest from private investors, national pension funds, real estate investment trusts and insurance companies.
The buildings, ranging from 55,000 square feet to 120,000 square feet, are 98% leased. The portfolio owner, Clarion Partners, is a New York-based fund that manages nearly $10 billion in real estate assets.
Guthrie Sells Arroyo Vista Building
Laguna Hills-based Guthrie Development Co. has pre-sold building four of the six-building Arroyo Vista Business Center.
Foothill Ranch-based BranDit Systems Inc., a provider of barcode-related systems, purchased the 6,600-square-foot building in Rancho Santa Margarita.
BranDit liked the building’s easy access to the Foothill (241) Toll Road and the favorable Rancho Santa Margarita business climate, according to the company’s president, Dave Bramson.
Guthrie purchased the property from Maria Sobrino for $2 million in April. The developer has begun construction on the project, and expects to complete it in January. Buildings will range from 5,760 square feet to 12,030 square feet and total 57,685 square feet, encompassing 3.6 acres at the corner of Arroyo Vista and Valeroso.
“The industrial market in south Orange County is incredibly tight,” said Rob Guthrie, president of Guthrie Development.
The company has adapted to the tight market, according to Guthrie, by focusing on the smaller industrial buildings, saying that demand is strongest for the 5,000- to 6,000-square-foot buildings.
Trent Walker and Brian Corrigan of Voit Commercial Brokerage represented Guthrie while Ted Rommel of Lee
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