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79,528‑sq‑ft Class A office at 120 South State College Blvd. near Brea Mall closed for $19.5 million. CBRE, the seller’s broker, kept the parties confidential. The building, finished in 1985 and renovated in 2015, sits on 2.3 acres within Brea Place and is leased to six tenants—including the county, CareFusion, Whittier Filtration, HdL Cos. and Yellow Box Corp. CBRE’s Anthony DeLorenzo highlighted the property’s solid tenant mix and long lease terms, noting it offers a secure, low‑risk investment in a top market.
Rancho Ortega Plaza in San Juan Capistrano sold for $9.2 million to a 1031 exchange buyer in a seven‑day escrow. The two‑story, 23,122‑sq‑ft strip center, anchored by Starbucks and built in 2001, was 89 % occupied at closing. Hanley Investment Group represented the seller; Asarch Commercial Endeavors handled the buyer. Kevin Fryman of HIG praised the quick offer and expedited closing, noting the seller financing that enabled a two‑day due‑diligence period.
A 3,651‑sq‑ft 7‑Eleven on Balboa Peninsula, 1920 W Balboa Blvd., sold for $5.24 million. Completed in 1975, the convenience store sits just south of Pacific Coast Highway. SRS Real Estate Partners reported the seller was a California family trust and the buyer remained unnamed. Vice President Kevin Held described the sale as a rare chance to acquire a high‑credit, long‑term tenant in a prime beach‑city location, offering stable, passive cash flow.
Dermody finished its two‑building LogistiCenter campus in Irvine. Irvine II, 91,600 sq ft, was leased earlier this year to Hyundai America (CBRE), who will use it as a Technical Center. Irvine I, 133,320 sq ft, includes 10,000 sq ft of office space on the ground floor and mezzanine and is now available for lease, marketed by CBRE. Dermody was represented by CBRE; JLL handled Hyundai’s lease.
A 51,998‑sq‑ft industrial property at 2390 N American Way, Orange, signed a 62‑month lease with Pacific Aerodynamic Inc., an aerospace component maker, starting Oct. 1. The lease, worth $5.27 million, was brokered by Lee & Associates for the tenant and by Daum for Rexford Industrial, the landlord. The agreement includes options to extend.
Steve Kalmbach has been appointed chief operating officer of Thomas James Homes, headquartered in Aliso Viejo. He will also serve as the new COO of Trumark (Newmark), based in Newport Beach, overseeing mergers, acquisitions and operations across California and Colorado. Kalmbach brings 18 years as Northern California division president for PulteGroup.
This real‑estate roundup is compiled from press releases and written by Samantha Gowen. Submit items and high‑resolution photos to [email protected]; allow at least one week for publication.
