The former site of Kraft Heinz Lunchables in Fullerton soon will be humming with the sound of workers again.
This time, a new building completed in 2022 will be chockful of futuristic auto parts, instead of cheese and salami.
The Brea-based electric-vehicle startup Mullen Automotive leased a 121,615-square-foot warehouse built on land that for decades hosted a food manufacturing plant. Kraft Foods shuttered its facility in 2018, leaving hundreds of people out of work.
Link Industrial, which owns the building at 1500 East Walnut Ave., was represented by CBRE. Terms of the lease with Mullen were not disclosed.
“Mullen Automotive … was drawn to the freestanding building because of its heavy power capacity and proximity to its own headquarters in nearby Brea,” said Ben Seybold, an executive vice president at CBRE. “The new lease helps the company expand their local operations and Orange County footprint.”
Mullen manufactures commercial EV trucks and cargo vans. This summer, the company’s first production of Class 3 trucks rolled off the assembly line in Tunica, Miss.
The former Kraft building was part of the food manufacturing scene for decades, first operated as a Claussen pickle factory since the mid-70s. It became a Kraft Heinz manufacturing plant in 1989, producing the company’s all-in-one, pre-packaged Lunchables meals.
MIG Real Estate in Newport Beach bought this six-building Mission Viejo Business Center in Mission Viejo for $30.3 million. (Photo courtesy of Cushman & Wakefield)
Mission Viejo Business Center sells for $30 million
MIG Real Estate in Newport Beach bought the six-building Mission Viejo Business Center in Mission Viejo for $30.3 million.
The property at 23811-23891 Via Fabricante was completed in 1975 and today is leased to 43 tenants.
“This acquisition continues the firm’s strategic investment plan for small bay industrial assets in a high barrier of entry and low vacancy submarkets in sought-after irreplaceable locations with limited supply growth,” said Kevin Stiles, director of commercial investments for MIG Real Estate.
The company said it will continue to use the business center as-is while it pursues opportunities for similar investments in Southern California.
The privately held real estate investment and development firm has been in a buying mood, recently acquiring the Braker Metric Business Park in Austin, Texas, for $102 million in a bankruptcy sale. That 545,000-square-foot portfolio includes 13 industrial buildings and a strip mall.
In the Mission Viejo transaction, the firm was represented by Cushman & Wakefield.
An Orange County law firm bought this Irvine office building for $4.5 million. (Photo courtesy of CBRE)
Irvine office building sells for $4.5 million
An office building in Irvine has traded hands for $4.5 million, according to CBRE.
The buyer of the 9,073-square-foot building at 17631 Fitch was identified by CBRE as a local law firm. The seller was not identified. The deal closed Oct. 13.
The one-story building was completed in 1980.
“Over the last decade, growth among low-rise office products has been robust, out-pacing high-rise products in vacancy compression and rent growth,” added Mr. DeLorenzo, vice chairman at CBRE. “As of the end of 2022, direct vacancy for low-rise office was 7.8%, well below the rest of the office market, and this trend will continue into the foreseeable future.”
Rebecca Hall, president and CEO of Idea Hall, was honored at the 11th annual SPIRE Awards with the Women in CRE award. (Photo courtesy of CREW Orange County)
SPIRE awards announced
The nonprofit Commercial Real Estate Women (CREW) Orange County announced the winners of its 11th annual SPIRE (Superior Performance In Real Estate) Awards.
The event was held Friday, Oct. 20th at the City National Grove of Anaheim.
Award winners included:
New Construction: Finamore Place, Jamboree Housing Corp., city of Anaheim, Architecture Design, Fuscoe Engineering, Jamboree’s Quality and Development and Construction Inc., Site Design Studio, CDC Design, The John Stewart Co.
Building Renovations: Ascent, Jamboree Housing Corp., Architecture Design Collaborative, Jamboree’s Quality and Development and Construction Inc., city of Buena Park
Tenant Improvements: Bandai Namco Holdings USA, Hendy, JLL, Clune Construction
Most Valuable Service Provider: Allen Matkins
Philanthropy: Sara Mahaffey for RexForGood Committee, Rexford Industrial
Women in CRE: Rebecca Hall, president and CEO of Idea Hall
Emerging Leader: Morgan Medlin, partner at Allen Matkins
Sales and Leasing: Bosscat Kitchen & Libations and Ten Sushi & Cocktail Bar, Daily Dose Hospitality, Newmark.
The local chapter of the CREW Network was founded in 1988.
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.
