MemorialCare Medical Foundation has signed a 10-year lease for the retail spot once occupied by Crown Ace Hardware at University Park in Irvine, according to CBRE.
Financial terms of the lease were not disclosed, but CBRE said in a statement that the foundation signed a 9,460-square-foot lease at the retail center at 18102 Culver Drive. Tenants at University Park include Wholesome Choice, Rite Aid, Wells Fargo and Carl’s Jr.
CBRE’s Andy Nott and Austin Kanzler represented MemorialCare. The physician division of MemorialCare provides internal and family medicine, pediatrics, urgent care and dental services in Orange County.
“MemorialCare was not actively looking for space in the market but when the right property becameavailable, we were quick to mobilize and negotiate terms,” Kanzler said. “This deal is indicative of theincreasing demand for quality retail space for medical users.”
A two-building complex on 4.4 acres in Buena Park has been leased to an unidentified automobile wholesaler. (Courtesy of DAUM Commercial.
Auto wholesaler leases complex in Buena Park
A two-building complex on 4.4 acres in Buena Park has been leased to an unidentified automobile wholesaler, according to DAUM Commercial.
Terms of the lease were not disclosed.
The campus at 7015 Knott Ave. includes corporate offices, a showroom and warehouse space in 14,019 square feet, DAUM reps said.
Chris Migliori at DAUM Commercial represented the owner, Cal Hickel Holdings LP, securing a six-year lease for a single tenant.
“Our client had a prime, central Southern California location available that presented the potential to be utilized or adapted for a wide variety of uses, including warehousing and distribution, vehicle sales, or a parking lot,” Migliori said in a statement. “… We ultimately identified an automobile wholesaler and storage business that saw strong value in the asset’s existing facilities and 20:1 parking ratio.”
The north Orange County submarket has “tight vacancies of 1.24% in Q1,” according to a new DAUM report.
MemorialCare Medical Foundation has signed a 10-year lease for the retail spot once occupied by Crown Ace Hardware at University Park in Irvine, according to CBRE. (Courtesy of Tom Lamb)
Former USPS hub sells for $11 million in Aliso Viejo
A 40,000-square-foot building long occupied by the US Postal Service in Aliso Viejo has sold for $11 million, according to Lee & Associates Newport Beach.
The seller was J.B.K. Living Trust and the buyer, East Sunrise Investment LLC.
The postal agency was a tenant for 30 years. The building at 81-91 Columbia now will now be split — half by the new owner and the other half divided into four rental units.
David Bolt of Lee & Associates represented the seller, while the buyer was represented by JLL.
Get a peek at tiny home living at Anaheim expo
A tiny home expo is coming this week to the Anaheim Convention Center.
The Home, Garden & Tiny House Show takes place Friday through Sunday, April 29 through May 1, and will include tiny homes and mini-mansions, yoga retreats, ADUs (accessory dwelling units), granny flats, two-story tiny houses and even homes on wheels.
The expo will also include decorating and remodeling ideas for kitchens and bathrooms, floors, doors, windows, hot tubs, BBQ islands, landscaping, solar panels and home décor.
Tickets are $10 and $5 for seniors at the door and at <a href=”https://www.eventbrite.com/e/anaheim-home-garden-tiny-house-show-tickets-301153677757″>Eventbrite.com</a> (search “tiny home show”). Children under age 18 are free with a paying adult. Military personnel and first responders also attend for free.
The event is sponsored by Orange County Realtors and produced by Huntington Beach-resident Marlene Thorne of Specialty Shows & Events.
For more information, go to anaheimhomeshows.com. Address: 800 West Katella Ave. Hall D
Steve Kalmbach is the new chief operating officer at Aliso Viejo-headquartered Thomas James Homes. (Courtesy of Thomas James Homes)
Industry movers & shakers
Steve Kalmbach is the new chief operating officer at Aliso Viejo-headquartered Thomas James Homes. He joins TJH with 30 combined years of experience in the real estate and homebuilding industry. Kalmbach also sits on the board of directors for the California Building Industry Association and HomeAid Northern California and is a 2021 inductee to the California Homebuilding Foundation Hall of Fame. TJH recently expanded into new markets including both Arizona and Colorado.
Milestones
The Irvine-based design firm Ware Malcomb founded in 1972 celebrated its 50th anniversary April 1.
The company said it will be donating $50,000 to 50 charities in local communities across the Americas.
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The firm, which provides planning, architecture, interior design, civil engineering, branding and building measurement services, says its revenues are more than $200 million per year with an estimated total billings of $1 billion.
“We are so proud of this significant milestone,” said Ken Wink, CEO of Ware Malcomb. “It’s our people, our clients, and our partners who have propelled us this far. Because of our commitment to continual innovation, we are focused on pushing the limits of technology and innovating in all that we do.”
The company began as Ware & Malcomb Architects, created by Bill Ware and Bill Malcomb in 1972. They specialized in commercial office, industrial, corporate office and tenant improvement projects through the 1980s.
In the 1990s, the firm grew outside of California. Lawrence R. Armstrong assumed the role of CEO in 1992, and, with then-President Jim Williams, expanded the firm to seven offices.
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.
