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Real estate news: Chino furniture wholesaler relocates HQ to Placentia

In a twist of industrial leasing news, an Inland Empire company is moving its headquarters to Orange County from the Inland Empire.

Oadeer, a home furnishing wholesaler formerly based in Chino, signed a seven-year lease for 54,774 square feet at 718 Lakeview Loop Way, a new industrial center in Placentia.

EXPO Convention Contractors, a Florida-based trade show contractor, also signed a seven-year lease for 38,608 square feet at 719 Lakeview Loop Way.

CBRE’s Sean Ward and Ben Seybold represented the unidentified landlord.

EXPO Convention Contractors, a Florida-based trade show contractor, also signed a seven-year lease for 38,608 square feet at 719 Lakeview Loop Way. (Courtesy of CBRE)

Terms of the leases were not disclosed by CBRE but Seybold said the properties leased nearly “20% above the record-high average asking lease rate.”

“The tightness of the market coupled with rising demand is driving the steep climb in pricing,” he added.

Earlier this year, Ricoh Electronics left its longtime home in Tustin for a new headquarters in Rialto in San Bernardino County. In April, Nissei America relocated its injection molding machinery to San Antonio, Texas, from Anaheim.

LGM Pharma, a Boca Raton-Fla.-based pharmaceutical manufacturing company, has leased a 33,488-square-foot warehouse at 2741-2745 Dow Ave. in Tustin, according to NAI/Merin Hunter Codman. The company last summer acquired Irvine-based Nexgen Pharma Inc. and is leasing the Tustin building as it expands the combined firm. (Courtesy of NAI Capital and NAI/Merin Hunter Codman)

Florida pharma firm leases in Tustin

A Florida firm is putting down some roots in Orange County, too, this time in Tustin.

LGM Pharma, a Boca Raton-Fla.-based pharmaceutical manufacturing company, has leased a 33,488-square-foot warehouse at 2741-2745 Dow Ave. in Tustin, according to NAI/Merin Hunter Codman.

The company last summer acquired Irvine-based Nexgen Pharma Inc. and is leasing the Tustin building as it expands the combined firm.

Jeffrey A. Cebula with NAI/Merin Hunter Codman partnered with NAI Capital Commercial to complete the seven-year lease for LGM.

The landlord was represented by Cushman Wakefield. Terms of the lease were not disclosed.

Clearwater at North Tustin, a new assisted living and memory community, will debut its model apartments from 11-3 p.m. July 10-11. The complex will have 110 assisted living and memory support apartments with both private and semi-private options. It’s expected to open fully by the end of 2021. (Courtesy of Clearwater Living)

Senior living model units debut

Clearwater at North Tustin, a new assisted living and memory community, will debut its model apartments from 11-3 p.m. July 10-11.

This event is open to the public and will provide tours of the models and a chance to meet the Clearwater staff.

Clearwater Living said last year the project represents the first Catholic-based senior living community in Orange County. It will be open to people of every denomination.

The complex will have 110 assisted living and memory support apartments with both private and semi-private options. It’s expected to open fully by the end of 2021.

Check-in for the model open house is at 11901 Newport Ave. in Santa Ana. For more details, call 714-656-9200 or email NTustin-Marketing@ClearwaterLiving.com.

On the move

Blair Jones has joined BNBuilders in Newport Beach as a project executive serving the Los Angeles, Orange County, and Inland Empire markets. He returns to BNBuilders after a nearly six-year hiatus and has some 15 years of experience in various sectors, including technology, K-12, higher education, hospitality and large construction projects.

Bobby Shakoory has joined Irvine-based Highpointe Communities, a real estate development company, as its chief investment officer. He is a licensed real estate attorney and a private wealth and investment management executive with 20 years of real estate experience. Highpointe said the move will help expand its presence in Texas and California. Highpointe has developed more than 12,000 residential units and 43 projects over the last 23 years.

Irvine-based R.D. Olson Construction’s 11th annual charity golf tournament raised more than $80,000 for Olive Crest, a local nonprofit. Seen here at the event are R.D. Olson Construction employees Kim Manis, Kathi Short, Carlos Pedroza, Elizabeth Marin and Bill Wilhelm. (Courtesy of R.D. Olson Construction)

Good works

Irvine-based R.D. Olson Construction’s 11th annual charity golf tournament raised more than $80,000 for Olive Crest, a nonprofit that works to prevent child abuse, and treat and educate at-risk children. The tournament was held at Tijeras Creek Golf Club in Rancho Santa Margarita.

Flair at Miralon, by Woodbridge Pacific Group, received the Gold Award for Residential Detached Collection of the Year. (Photo by Woodbridge Pacific Group and AG Photography)

Milestones

San Clemente-based C2 Collaborative, a landscape architecture design firm, has earned a Grand Award across five leading categories and the Award of Merit in two others at the 2021 Gold Nugget Awards. The annual awards program recognizes firms that improve communities through exceptional concepts in design, planning and development.

The honors recognized C2’s role in developing Miralon Palm Springs, a project that converted a failed golf course into an “agrihood” community. The 309-acre community has 1,150 homes set in working olive and citrus groves, in addition to community gardens and walking trails.

Miralon is slated to open this summer 2021, with the club, fitness center, yoga studio, hub, café, pools and dog parks complete.

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.


Source: Orange County Register

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