A 95,371-square-foot office building in the Anaheim office complex called Link OC has been sold for $31.2 million, according to Cushman & Wakefield.
The four-story building “1065 Link” is leased to multiple divisions operated by the state of California, including the Workers’ Compensation Appeals Board and the Department of Industrial Relations.
Easterly Government Properties, based in Washington, D.C., was the buyer.
The Class A office building was completed in 1991 and was updated in 2020. It has a newly renovated lobby and exterior common areas.
Cushman & Wakefield represented the seller, a partnership that includes a real estate investment, development and management firm and a global investment manager.
MCA Realty in Orange sold Spectrum Business Park, a 68,911-square-foot six-building industrial complex in Federal Way, Washington, for $13.75 million. (Photo courtesy of MCA Realty)
MCA sells Washington industrial complex for nearly $14 million
Orange-based MCA Realty sold Spectrum Business Park, a 68,911-square-foot six-building industrial complex in Federal Way, Washington, for $13.75 million.
An unidentified investor bought the complex as part of a 1031 exchange.
MCA bought the business park in September 2021 and invested about $500,000 in capital improvements that improved much of the exteriors of the buildings, select interiors and campus landscaping.
Spectrum Business Park, completed in 1978, is between Seattle and Tacoma and was fully leased at the time of the sale.
MCA said the business park was its fifth property sold in its Industrial Growth Fund.
Watermark prepares for Laguna Niguel debut
Christopher Tharp has been named the new executive director of Watermark Laguna Niguel, a senior living community set to open in November.
Previously, he led senior living communities as an executive director in Carlsbad and Charleston, S.C.
Also joining Tharp at Watermark Laguna Niguel are Hector Gonzalez as Community Life director, and Ashely Davidson, a licensed vocational nurse, who is the community’s wellness director.
Watermark Laguna Niguel will feature luxury amenities, wellness programs and a high-end dining venue called Seasons.
It also will offer assisted living and memory care units with 24/7 concierge services. For further information, go to tinyurl.com/mrx6sw55.
Trumark expands with acquisition in Central California
Trumark Homes in Newport Beach has expanded into Central California with the acquisition of Wathen Castanos Homes.
Terms of the deal were not disclosed.
“Our acquisition of Wathen Castanos Homes is a unique opportunity to fulfill several of our strategic goals,” said Gregg Nelson, co-founder and co-chief executive officer of Trumark Cos.
Wathen Castanos Homes was founded in 1983 and is building new homes in San Luis Obispo, Monterey Bay, Clovis, Fresno and Madera.
Industry people on the move
Jason Purvis, a senior managing director and the Southern California market leader at Granite Properties, is adding responsibilities as the firm’s head of Capital Raising. He is based in Newport Beach.
Jo Merriman has been promoted to executive vice president of operations and investment services at Irvine-based Shopoff Realty Investments. She joined Shopoff in 2021 and previously was senior vice president of operations and investment services.
Dhruv “DJ” Jain is the new director of investments and business development at Irvine-based KSL Resorts. He will be responsible for managing deal flow and underwriting to help “grow and diversify KSL Resorts’ portfolio,” the company said.
Patrick Sinderhoff is the new senior land acquisition manager at Irvine-based Highpointe Communities. His focus is sourcing land opportunities, financial modeling and contract negotiations for new residential investments throughout Southern California and Central Texas. Previously, Sinderhoff worked with KB Home and K. Hovnanian. Highpointe has master-planned communities in Loma Linda, Palm Desert and San Juan Capistrano.
Mike Wentworth was promoted to senior vice president of property management at Westar Associates in Newport Beach. He is responsible for all aspects of managing the company’s retail portfolio in Southern California and the Central Coast. Previously, Wentworth was responsible for various retail operations in Westar’s Property Management department.
Coming up
Century 21 Discovery in Fullerton is hosting its 28th annual charity dinner and auction Nov. 14 at the Coyote Hills Golf Course.
The event will benefit the Discovery Charity Foundation, a nonprofit organization that donates to charities in north Orange County. The foundation has so far raised $450,000 over the past 27 years for local charities.
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The recipients this year are Boys and Girls Clubs of Fullerton, Hope Center, Meals on Wheels of Fullerton, National Giving Alliance Fullerton (NGA), Providence St. Jude Memorial Foundation, Radiant Futures (formerly WTLC) and Tara’s Chance.
Tickets are $75 per person. For more information, call 714-626-2888 or go to www.c21discoverycharityevent.com.
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.
