Real Estate briefly: Kearny buys Santa Ana office campus for $34.8 million

Kearny Real Estate Co. in Los Angeles has acquired a 197,370-square-foot office campus in Santa Ana from The Colton Co. for $34.8 million. The complex, dubbed Elevate@Harbor, includes two mid-rise buildings on 8 acres at 3100 – 3130 Harbor Boulevard in the South Coast Metro submarket. Kearny plans to invest $15 million to reposition the office campus, according to Kearny Partner Hoonie Kang. The 1-acre outdoor area surrounding the first floor of both buildings will be redesigned to incorporate outdoor areas that provide a mix of work, leisure and active spaces. Kearny has engaged the Orange County office of CBRE headed by Carol Trapani and Allison Kelly to oversee leasing for Elevate@Harbor.
Kearny Real Estate Co. in Los Angeles has acquired a 197,370-square-foot office campus in Santa Ana from The Colton Co. for $34.8 million. (Courtesy of Kearny Real Estate)The Friendly Hills Marketplace in Whittier has been sold for $40 million. CBRE Executive Vice President Philip D. Voorhees and National Retail Partners-West, both in Newport Beach, completed the sale of the newly-constructed center. (Courtesy of CBRE)Arrimus Capital in Newport Beach has acquired Stadium View, a luxury student housing community adjacent to Iowa State University. Terms were not disclosed. (Courtesy of Arrimus Capital)Weichert Real Estate Affiliates is expanding in the West Coast with the addition of Weichert, Realtors – The Dole Group, formerly known as OC Realtor Group. The office is an independently owned and operated by Kenneth Do, the agency’s broker/owner. (Courtesy of Weichert Real Estate)Faris Lee Investments in Irvine, a retail advisory and investment sales firm, has completed the $15 million sale of CVS Beach Garfield Center, a 31,140-square-foot retail property anchored by CVS/pharmacy on Beach Boulevard in Huntington Beach. (Courtesy of Faris Lee Investments)Cushman & Wakefield’s Orange County office has relocated to Lakeshore, a mixed-use office complex in Irvine. Operating in 28,415 square feet, Cushman & Wakefield’s new workplace is positioned on the ninth and 10th floors of the 10-story building at 18111 Von Karman Ave. (Courtesy of Cushman & Wakefield)Show Caption of Expand
The Friendly Hills Marketplace in Whittier has been sold for $40 million. CBRE Executive Vice President Philip D. Voorhees and National Retail Partners-West, both in Newport Beach, completed the sale of the newly-constructed center. Voorhees and CBRE associates Kirk Brummer, James Tyrrell, Megan Wood, Preston Fetrow and Jim Leary represented the seller, Minneapolis-based Oppidan. The buyer, represented by Daniel Shaunt from Reeco in Irvine, was Golden Capital Whittier, a Vietnamese-based private investor. Tenants include Orchard Supply Hardware, HomeGoods, ULTA Beauty, and Skechers.
Arrimus Capital in Newport Beach has acquired Stadium View, a luxury student housing community adjacent to Iowa State University. Arrimus Capital bought the 518-bed asset from Haverkamp Properties of Ames, Iowa, for an undisclosed price. Stadium View represents the company’s fourth student housing purchase in the past 12 months, raising the value of its student housing portfolio to approximately $204 million. Brian Kelly from the Chicago office of HFF represented Arrimus Capital and Haverkamp Properties in the transaction.
Faris Lee Investments in Irvine, a retail advisory and investment sales firm, has completed the $15 million sale of CVS Beach Garfield Center, a 31,140-square-foot retail property anchored by CVS/pharmacy on Beach Boulevard in Huntington Beach. The sale was an off-market transaction. Senior managing director Shaun Riley of Faris Lee Investments represented the buyer, 209 N Brand Blvd. LP from Beverly Hills. The seller, Palos Verdes-based Sampont Properties, was represented by Triwell Properties. The center is at 18872 to 18922 Beach Boulevard. It is fully occupied and includes a free-standing CVS/Pharmacy with drive thru, Starbucks, O’Reilly Auto Parts, Verizon and Bank of America, among others.

New ventures
Cushman & Wakefield’s Orange County office has relocated to Lakeshore, a mixed-use office complex in Irvine. Operating in 28,415 square feet, Cushman & Wakefield’s new workplace is positioned on the ninth and 10th floors of the 10-story building at 18111 Von Karman Ave. Cushman & Wakefield’s new facility houses some 100 associates with room for expected growth. Before coming together into its single location, the company said its employees had operated out of two separate facilities also in Irvine. Eric Paulsen, managing principal, will lead the firm’s Irvine (and Inland Empire) offices. Scott Sheridan of Cushman & Wakefield’s Project & Development Services (PDS) oversaw the office buildout which was completed in late October. The PDS team worked closely with architect Gensler and general contractor Howard Building Corporation. Leasing negotiations were handled by Rick Kaplan, Robert Lambert and Greg Brown of the firm.
Weichert Real Estate Affiliates is expanding in the West Coast with the addition of Weichert, Realtors – The Dole Group, formerly known as OC Realtor Group. The addition of the new Fountain Valley-based real estate agency marks the 10th Weichert® affiliate in the state. The office is an independently owned and operated by Kenneth Do, the agency’s broker/owner.
People in real estate
Jamie Duran, president of Coldwell Banker Residential Brokerage’s Orange County, Riverside County and San Diego companies, was named in Swanepoel T3 Group’s Top 200 Most Powerful People in Residential Real Estate 2017/18 list. Duran leads the Orange County, Riverside County and San Diego companies of Coldwell Banker Residential Brokerage, overseeing 46 offices, 1,700 affiliated agents and 140 employees with more than $8 billion in annual sales.
Westgroup Designs, Inc., an Irvine based architecture firm, has promoted several associates. They include: David Jordan Smith, principal, will oversee operations. Kenneth Ong, principal, will oversee architectural design. Robyn Taylor, associate principal, will oversee interiors design. Craig Whitridge, senior associate, will oversee technical and quality control of drawings. Dave Duff, associate, will function as a senior project manager in architecture. Jon Freeberg, associate, will function as project manager in interiors.
Milestones
Nick Lehnert, Executive Director, Design Strategies, for KTGY Architecture + Planning in Irvine, has been honored with the Volunteer of the Year Award by Building Industry Association of Southern California (BIASC) Council on SAGE (Shaping Advancements in Generational Environments), formerly known as the 55+ Housing Council.
Coming up
AvalonBay Communities, a real estate investment trust with multi-family apartment communities, is hosting a hiring event Wednesday, Feb. 7 at three Orange County locations. The company is hiring leasing consultants, maintenance technicians and customer service/concierge positions. Prospective job candidates can go to AvalonBay communities between the hours of 10 a.m. and 6 p.m.,  for an in-person interview for a sales or maintenance position.
–Avalon Baker Ranch, 1000 Lupine Avenue, Lake Forest
–Avalon Huntington Beach, 7400 Center Ave.
–Avalon Irvine, 2777 Alton Parkway
Correction: Hines, a real estate firm, is based in Houston. Because of an editing error, the company’s base of operations was incorrect in the real estate briefs that published Jan. 21 on Page 2 of the Register’s Real Estate section.
The real estate briefs are compiled by contributing writer Karen Levin and edited by Business Editor Samantha Gowen. Submit items to sgowen@scng.com. High-resolution images also can be submitted. Allow at least one week for publication. Items are edited for length and clarity.
 
Source: Oc Register