The MemorialCare Medical Foundation has signed a 10-year lease on the retail location once occupied by Crown Ace Hardware in University Park in Irvine, according to CBRE.
Financial terms of the lease were not disclosed, but CBRE said in a statement that the foundation had signed a 9,460-square-foot lease for the retail center at 18102 Culver Drive. University Park tenants include Wholesome Choice, Rite Aid, Wells Fargo and Carl’s Jr.
Andy Nott and Austin Kanzler of CBRE represented MemorialCare. MemorialCare’s medical department provides internal medicine, family medicine, pediatrics, emergency care and dental care in Orange County.
“MemorialCare was not actively looking for space on the market, but when the right property became available we quickly mobilized and negotiated terms,” said Kanzler. “This transaction is indicative of increasing demand for quality retail space for medical users.”
Car wholesaler leases complex in Buena Park
According to DAUM Commercial, a two-building complex on 4.4 acres in Buena Park was leased to an unidentified automobile wholesaler.
Terms of the lease were not disclosed.
The campus at 7015 Knott Ave. includes corporate offices, a showroom and storage space at 14,019 square feet, DAUM officials said.
DAUM Commercial’s Chris Migliori represented the owner, Cal Hickel Holdings LP, and secured a six-year lease for a single tenant.
“Our client had a prime, central Southern California location with the potential to be used or adapted for a variety of uses, including storage and distribution, vehicle sales or a parking lot,” Migliori said in a statement. “…Ultimately, we identified an auto wholesale and warehousing business that saw strong value in the property’s existing facilities and a 20:1 parking ratio.”
According to a new DAUM report, the North Orange County submarket has “barely vacant rates of 1.24% in the first quarter”.
Former USPS hub is being sold for $11 million in Aliso Viejo
A 40,000-square-foot building in Aliso Viejo long used by the U.S. Postal Service has sold for $11 million, according to Lee & Associates Newport Beach.
The seller was JBK Living Trust and the buyer was East Sunrise Investment LLC.
The Post was a tenant for 30 years. The building at 81-91 Columbia is now being divided – 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.
Take a look at Tiny Home Living at Anaheim Expo
A Tiny Home Expo is coming to the Anaheim Convention Center this week.
The Home, Garden & Tiny House Show runs Friday through Sunday, April 29 through May 1, and includes tiny houses and mini-villas, yoga retreats, ADUs (accessory residential units), granny flats, two-story tiny houses and even houses on wheels.
The fair also includes decorating and remodeling ideas for kitchens and bathrooms, flooring, doors, windows, hot tubs, grill islands, landscaping, solar panels and home decor.
Tickets are $10 and $5 for seniors at the box office and under Eventbrite.com< /a> (Search for “Tiny Home Show”). Children under 18 are free when accompanied by a paying adult. Military personnel and first responders also attend free of charge.
The event is sponsored by Orange County Realtors and by Huntington Beach resident Marlene Thorne of Specialty Shows & Events.
Visit anaheimhomeshows.com for more information. Address: 800 West Katella Ave. Hall D
Industry movers and shakers
Steve Kalmbach is the new Chief Operating Officer at Thomas James Homes, headquartered in Aliso Viejo. He comes to TJH with a combined 30 years of experience in the real estate and housing industry. Kalmbach also serves on the boards of directors of the California Building Industry Association and HomeAid Northern California, and was inducted into the California Homebuilding Foundation Hall of Fame in 2021. TJH recently expanded into new markets including both Arizona and Colorado.
milestones
Founded in 1972, Irvine-based design company Ware Malcomb celebrated its 50th anniversary on April 1st.
The company said it will donate $50,000 to 50 charities in local communities across America.
The company, which provides planning, architecture, interior design, civil engineering, branding and building surveying services, says its revenues are more than $200 million a year with an estimated total billing of $1 billion.
“We are so proud of this significant milestone,” said Ken Wink, CEO of Ware Malcomb. “It is our employees, our customers and our partners that have brought us this far. Because of our commitment to continuous innovation, we are focused on pushing the boundaries of technology and innovating in everything we do.”
The company began as Ware & Malcomb Architects, founded in 1972 by Bill Ware and Bill Malcomb. They specialized in commercial office, industrial, corporate office and tenant improvement projects in the 1980s.
In the 1990s, the company grew outside of California. Lawrence R. Armstrong assumed the role of CEO in 1992 and, along with then-President Jim Williams, expanded the company to seven offices.
Real estate transactions, leases and new projects, industry hiring, new ventures, and upcoming events are compiled from news releases by contributing author Karen Levin. Email articles and high-resolution photos to Business Editor Samantha Gowen at sgowen@scng.com. Please allow at least a week for publication. All elements are editable for clarity and length.