News

By Staff report |
March 4, 2018 at 7:00 am

On the move

Mary Golding and Casey Lesher have joined the Newport Beach office of Coldwell Banker Residential Brokerage as affiliate agents. Golding comes to the office with more than 20 years of real estate experience. Lesher comes to the office with more than eight years of real estate experience.

Brandywine Homes in Irvine has hired Angela Meyer as vice president of development and Deborah Cramp as its offsite purchasing manager. Meyer was recently the director of forward-planning and a project manager for Taylor Morrison in Irvine from 2012 until 2017. Before that, she was an independent project manager serving clients including Jones Planning Consultants and Perry Communities. Cramp most recently served as the regional purchasing agent for Cal Atlantic Homes/Standard Pacific Homes in Irvine from 2013 to 2018.

Transactions

BKM Capital Partners, an institutional fund manager in Newport Beach, has acquired Activity Business Center for $28.1 million. The 160,943 square-foot, five-building multi-tenant light industrial property is in the Miramar submarket of San Diego. The center is roughly 93 percent occupied with 38 tenants. Average unit sizes are approximately 3,743 square feet, according to Brett Turner, BKM’s director of acquisitions. BKM said in a statement it plans to rebrand the multi-tenant industrial complex and renovate the property, upgrading the parking lot, exterior paint, landscaping, monument signage, lobby and the addition of a new outdoor common area. Cushman and Wakefield represented Lincoln Property Co. as the seller in this transaction. BKM Capital Partners was not represented.

Avison Young in Irvine has brokered the $9.18 million sale of Parkview Apartment Homes, a 22-unit property in Buena Park. Avison Young Principal Peter Hauser and associate Matthew Hauser represented the buyer, Cameron Properties  of Covina. The seller, a local developer, was represented by CBRE. Built in 2014, the complex is on 1.1 acres of land at 6785 Knott Ave. The property includes a mix of two-bedroom, single-level units as well as two-story townhomes. All units are about 1,000 square feet.

The Orange office of Lee & Associates has closed the $4.45 million sale of Coronado Plaza in Orange. The property at 1085-1095 N. Main St. includes two freestanding industrial buildings that total 39,390-square-feet. Allen C. Buchanan and Joshua Harper of Lee & Associates represented both the seller, Ball Road Corp., and the buyer, Harvard 826 Property LLC.

Leases

Faris Lee Investments in Irvine has completed the $5.48 million ground lease sale of a Raising Cane’s property at 23971 El Toro Road in Laguna Hills. Senior managing director Shaun Riley represented the buyer, a private investor from Redondo Beach, in the transaction. Adam Friedlander, Matthew Berres and Scott Bailey of JLL represented the seller, a private investor from Valencia

New Ventures

Newport Beach-based Bixby Land announced a joint venture with AXA Investment Managers to acquire $400 million in industrial properties in key Western markets including California, Washington state, Oregon, Nevada and Arizona. They will be targeting properties primarily in the range of $10-40 million.

JMAC Lending has moved its corporate headquarters, doubling its office space in Santa Ana. The company completely renovated the second floor of the JMAC Lending building at 2510 Red Hill Ave. to create a modern workplace for up to 200 employees. JMAC Lending will occupy 25,000 square feet. The office includes communal spaces with sofas and meeting areas for presentations, training and conferences.

On board

Wil Wong has joined the board of directors at KTGY Architecture + Planning. Wong is a principal based in the firm’s Irvine office. Wong joined KTGY in 2000 and is responsible for overseeing the design development, production and construction phase of the high-density residential and mixed-use studio of KTGY’s Irvine office.

In passing

The staff at the Orange office of Lee & Associates are mourning the loss of real estate veteran, mentor, and friend Chuck Hardy, 80. Hardy passed away Feb. 22 from complications of heart surgery. In spite of his age and up until his surgery, he was an active principal in the Orange office since his arrival in 1995. Chuck graduated from Occidental College in Los Angeles. Services are pending.

Coming up

The California Real Estate Inspection Association (CREIA) will host its 42nd annual conference April 25-29 at the Westin South Coast Plaza. The conference will feature, among other things, a presentation on California’s new pool safety barrier law, which went into effect Jan. 1. The law requires new or remodeled pools and spas to have two of seven child protective safety barriers. For more information on the conference, go to creia.org/2018-annual-conference. 

CREW-OC, the Orange County chapter of Commercial Real Estate Women, will host its annual SPIRE Awards ceremony Wednesday, March 14 at the Samueli Theater in Costa Mesa. The awards celebrate the industry’s achievements and honor the very best and brightest in Orange County, according to Linda Padilla-Smyth, director of Real Estate & Property Management at Chapman University and Co-Chair of the CREW-OC SPIRE Awards Committee.  To nominate an individual or team, go to crewocspireawards.com. Tickets for the event are available at: crewocspireawards.com/event-info/