SARES•REGIS Sells Two Class A LEED Industrial Buildings In Anaheim
Irvine, Calif., -- SARES•REGIS Group sold two new super-premium industrial buildings at its recently completed 120,000-square-foot Canyon Point development in Anaheim for $11.9 million. The two buildings, which total more than 90,000 square feet, are architecturally state of the art and LEED Certified. A third building remains available.
“Canyon Point represents a higher level of quality, benefits and amenities than anything in the Orange County market. Both buildings were under contract months before completion. The speedy sales affirm our view that there is a segment of users who want the premium features we offered,” said Larry Lukanish, vice president in SARES•REGIS Group’s Commercial Investment Division.
Both buyers were offshore companies. HSJQ, a Chinese cabinet and tile distributor, purchased the largest of the three buildings, a 57,593-square-foot facility, for $7.4 million. Woongjin Chemical America, a South Korean maker of water purification equipment for industrial use, purchased a 32,554-square-foot building for $4.5 million.
The three buildings are on 6.3 acres at the southeast corner at Miraloma Avenue and Miller Street in the Anaheim Canyon technology district. They are Orange County’s first speculative LEED industrial buildings.
Brokers Dennis Keane and Adam Dzierzynski in the City of Industry office of Lee & Associates represented HSJQ USA. Colliers International’s James Min and Stephen Schloemer, represented Woongjin Chemical America. SARES•REGIS Group was represented by Brad Bierbaum and Ian Britton in the Anaheim office of CB Richard Ellis.
Key features in the three high-image buildings make them unique among small buildings in the Orange County marketplace, Lukanish said. They have 30-foot clear heights making them ideal for the most modern racking systems. They also have ESFR (early suppression fast response) sprinklers, true dock-high loading and 130-foot concrete truck courts. These are features found mainly in state-of-the-art “big box” buildings in the Inland Empire but not in Orange County, he said.
Additionally, each building has 4,700 square feet of built-out office space that includes large bay windows for viewing the warehouse area, Lukanish said. The unsold building totals 31,744 square feet.
Canyon Point is near Southern California’s three major airports and key freeway hubs, including the 91, 57 and 55 freeways. It also is near the expanding Anaheim Canyon Metrolink station.
HSJQ is relocating from the City of Industry, said Lee & Associates’ Keane, adding that officials of the cabinet and tile distributor had toured other locations “with little results, until the discovery of the Canyon Project. Being in the cabinet and tile business, it was important for my client to be in a high image warehouse near ‘Tile Mile’” on Katella Avenue, Keane said.
“At the time, the facility had just broken ground. But it was the perfect fit. It was the one of few spec buildings in all of Southern California, but I think SARES•REGIS Group had the right idea,” Keane said.”
Lukanish said Woongjin Chemical America was in the market for a LEED building to satisfy its corporate sustainability mandate. Woongjin will conduct manufacturing operations at the facility.
SARES•REGIS Group is headquartered in Irvine, Calif. It is one of the leading developers and managers of commercial and residential real estate in the western United States. Currently, the company has more than 4 million square feet of commercial industrial in the entitlement process and 1,962 residential units in pre-construction and development. SARES•REGIS Group has a combined portfolio of property and fee-based assets under management valued at more than $4 billion, including 15 million square feet of commercial and industrial space and 16,180 rental apartments. Since its inception the company has acquired or developed approximately 44 million square feet of commercial properties and 19,000 multifamily and residential housing units.