Tustin office building sells for $91 million – Orange County Register

A 120,000-square-foot office building in Tustin has sold for $91 million, according to JLL Capital Markets.

The building is leased to the county until 2047. It is located on approximately 6 acres at 1382 Bell Ave. Close to the city’s masterplanned 1,600-acre Tustin Legacy community.

The sellers were advised by JLL, a joint venture between SteelWave and an institutional investor. The buyer is not recognized.

The JLL Capital Markets team representing seller included Blake Bukowski, Mark DiGiorgio, Michael Leggett, Adam Lassoff, Patrick Burger and Peter McKenna.

Duke Realty eyes industrial venture after buying Los Al site for $77 million

A 10.7-acre industrial site in Los Alamitos has been sold to Duke Realty for $77.2 million, according to Cushman & Wakefield.

The property includes several multi-tenant buildings spread over eight parcels, according to the brokerage, which refused to provide details. A representative will only say that the wallet was near Katilla Street and Bloomfield Street.

Duke Realty purchased the property from Don Wilson Builders as an investment and plans to redevelop the site as a Grade A industrial project.

According to Cushman & Wakefield, “This industrial site is strategically located on the border of Los Angeles and Orange County, convenient to North America’s busiest port complex, an extensive highway network, two major airports, and a massive population center.”

Kyle McGillen and Rick Ellison represented Duke Realty in the deal.

This 9,780-square-foot, 2.54-acre industrial building in Santa Ana sold for $8.6 million. (Courtesy of Lee & Associates, Orange)

Industrial building in Santa Ana sells for $8.6 million

Lee & Associates of Orange has sold a 9,780-square-foot, 2.54-acre industrial building in Santa Ana for $8.6 million.

The property is at 2506 South Harbor Blvd. It is gated and has approximately 2,000 square feet of outdoor work space.

Greg Diab and Jack Healy, directors of Lee & Associates, represented the anonymous buyer.

MCA adds two more industrial deals to its $50 million growth fund

MCA Realty of Santa Ana has completed its ninth and tenth acquisitions in MCA Realty Industrial Growth Fund LP, buying a Sacramento industrial portfolio and a multi-tenant industrial building in Salt Lake County, Utah, for $13.8 million.

Tyler Mattox, principal at MCA Realty, said the Sacramento and Salt Lake County properties were the first properties the company acquired in those submarkets.

Mattox said the company has expanded into new markets since the growth fund was deployed at the end of 2021. The $50 million fund, raised in just three months, has been used to acquire 10 properties so far.

In its most recent deal, MCA purchased three industrial properties with a combined area of ​​82.565 square feet in Sacramento for $10.2 million. It also purchased an 18,240-square-foot, multi-tenant industrial building in West City Valley, Utah, for $3.6 million.

“We targeted the Salt Lake District as a desirable location to expand our industrial footprint,” Mattox said.

Jack Samuelson, a well-known developer of buildings on college campuses and medical centers around Southern California, died on July 17.  He was 97 years old.  (Courtesy of Samuelson Partners)
Jack Samuelson, a well-known developer of buildings on college campuses and medical centers around Southern California, died on July 17. He was 97 years old. (Courtesy of Samuelson Partners)

obituary

Jack Samuelson, a well-known developer of campuses and medical buildings around Southern California, died on July 17. He was 97 years old.

Samuelson and his brother Robert “Bob” Samuelson founded the general contracting company Samuelson Brothers in 1946.

Among their large projects were the campus buildings at the University of Southern California, Cal Lutheran University, and Occidental College. At Cal Lutheran, projects have included residence halls, the Orville Dahl Centrum, Peters Hall, and locker room additions.

At OCC, the company has built several buildings and completed several renovations on campus, including Booth Hall, Herrick Memorial Chapel, Rush Gymnasium, Keck Theatre, an art gallery, pavilion, and alumni center each bearing the Samuelson name.

The Samuelson Brothers, now Samuelson Partners, built the La Cañada Presbyterian Church.

Jack’s brother died in 2008 of mesothelioma.

said John H. Cochran, III, president and CEO of HumanGood, a California-based nonprofit that works to build affordable seniors in six states.

Jack and Bob also co-founded Beacon Housing, a religious housing company. Their families later founded the Samuelson Charitable Foundation, which supported church-related agencies.

Samuelson is survived by his children and spouses, including Reid and Joyce (Todd) Samuelson; Chuck and Lisa (Samuelson) Poe; Kevin and Laura (Samuelson) Murphy; and David and Michelle (Allen) Samuelson.

Contributions in memory of Jack can be made to Beacon Housing, 5000 Edenhurst Ave. , Los Angeles, CA 90039, or go to BeaconHousing.org.

Real estate transactions, leases, new projects, industrial hires, new projects, and upcoming events are compiled from press releases by contributing writer Karen Levine. Email items and high-resolution images to Business Editor Samantha Gowen at [email protected] Please allow at least a week to post. All elements are editable for clarity and length.

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