A manufacturer of injection molding machinery in Anaheim has sold its headquarters as it exits California for a new operations base in San Antonio, Texas.
Nissei America has been in the building at 1480 N. Hancock St. “for many years,” according to a statement by The Klabin Co./CORFAC International, which represented the company in the sale. Nissei America is the U.S. division of Nagano, Japan-based Nissei Plastic Industrial Co. and was founded in 1977.
“It is moving its headquarters to Texas where it has built out a huge, state-of-the-art production facility,” said Todd Taugner with Klabin.
The 50,595-square-foot industrial building was sold to a neighbor, Moriel Real Estate, for $13.1 million.
Moriel Real Estate will keep its existing building adjacent to the former Nissei HQ, which is near the 91 freeway.
Taugner, Max Farkas and Zach Middleton worked with Chiho Ikegami of Relo Redac Inc. in representing the seller. Brian Chastain and Chuck Wilson of Colliers represented the buyer.
LH medical building sells for $31M
Meridian, a real estate developer in Newport Beach, has sold The Laguna, a 57,573-square-foot medical office building for $31.335 million, according to JLL.
The building at 24022 Calle de la Plata is on the Memorial Care Saddleback Medical Center campus in Laguna Hills. The five-story structure was built in 1983 and renovated in 2019, JLL said. Recent upgrades included installing electric car chargers, common area renovations, a fire suppression system and an LED lighting retrofit.
JLL, which repped Meridian in the sale, said the buyer was a publicly traded real estate investment trust but declined to name it.
Meridian bought the office building in October 2017, and invested over $2 million into the property, modernizing it and bringing it up to Class-A standards.
Evan Kovac and Andrew Milne, both managing directors with JLL, represented Meridian in the sale.
New management for 2 golf courses
Two golf courses in Orange County will soon be under new management.
Troon was selected to manage two courses in Orange County and a third in San Diego County. All of them are owned by Garden Grove-based Sanyo Foods Corp. of America and include Yorba Linda Country Club, Tustin Ranch Golf Club and Lomas Santa Fe Country Club in Solana Beach.
Troon Privé, the private club division of Troon, will oversee operations of Yorba Linda Country Club and Lomas Santa Fe Country Club, while Troon Golf, the resort and daily-fee club division, will manage all operations at Tustin Ranch Golf Club.
Sanyo is a longtime maker of shelf-stable instant noodles. It’s a division of Japan’s largest noodle-maker, Sanyo Foods Inc.
Shopping center changes hands in SA
Stream Realty Partners has acquired a 49,334-square-foot shopping center in Santa Ana at 2360 N. Tustin Ave.
Terms of the purchase were not disclosed.
Stream said the center, anchored by a Stater Bros., was previously owned by two unidentified owners for 50 years. The firm also acquired 0.78 acres of adjacent land to the center for future development.
Stater Bros. and Del Taco have both renewed their leases, according to Stream.
Going forward, Stream said it’s planning several upgrades to the center, including a new façade, new signage and landscaping.
Del Taco also will undergo interior renovations later this year.
NB firm buys home lots in Utah
IHP Capital Partners in Newport Beach and Fieldstone Homes in Salt Lake City have acquired 113 single-family lots in Lehi, Utah.
Terms of the deal were not disclosed by either firm.
Named Canyon Point, the lots are in one of the final phases of the 5,000-home Traverse Mountain Master Plan.
The companies’ joint venture has begun grading the hillside community. The homes will focus on an upscale buyer with an outdoor-focused lifestyle near the region’s technology-based employment center known as Utah’s Silicon Slopes.
Home sales are expected to open in late summer/early fall of 2021.
TMG expands to Utah
In other Utah news, The Mogharebi Group in Costa Mesa is expanding to the Beehive State, building another “Intermountain West” headquarters in Salt Lake City.
It’s the first of five new U.S. markets the firm sait it’s eyeing for expansion.
The Utah office will be led by Adam Gatto who joins the firm as a senior vice president. He previously worked at Colliers International, where he spent the past seven years in its Salt Lake City office.
TMG was founded in 2016 and focuses on multifamily investment sales, financing and advisory services. The firm says it has closed in excess of $6 billion in transactions representing more than 66,000 apartment units throughout California.
“While we are targeting several new markets, it is critical to team up with the right person so as not to disrupt our culture,” said Alex Mogharebi, the firm’s founder.
AO promotes partners, principals
AO, an Orange-based architecture firm in the commercial real estate industry, has promoted 13 of its employees, including five new partners, three principals, four senior associates and one associate.
The new partners include Eric Aubort, Tom Bergerson, Richard Clarke, Bruce Greenfield and Jason Rupp.
New principals are Stuart Beck, Keith Minnie and Trevor Morales.
Architects Edward Wu and Mansour Farazmand were promoted to senior associate and associate, respectively. Scott Jones, Greg Kruse and Ioanna Magiati were promoted to senior associates.
Mentorship program at RiverRock
RiverRock Real Estate Group in Newport Beach has partnered with America Needs You (ANY), a national nonprofit that fights for economic mobility for first-generation college students.
The partnership will bring mentorship to local students at the firm in the form of summer internships.
“With America Needs You, we can increase our focus on encouraging more people of color to consider commercial real estate as a career of choice,” said RREG founder John Combs.
The firm said it would likely launch the program this summer with several interns in a six-week program that starts in July.
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 email@example.com. Please allow at least a week for publication. All items are subject to editing for clarity and length.
Source: Orange County Register