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![Marcus & Millichap has brokered the sale of Palm Gardens Apartment Homes on Bryan Avenue in Tustin for $27.5 million. (Courtesy of Marcus & Millichap)]()
Marcus & Millichap has brokered the sale of Palm Gardens Apartment Homes on Bryan Avenue in Tustin for $27.5 million. (Courtesy of Marcus & Millichap)
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![CBRE brokered the sale of a net leased auto dealership in San Juan Capistrano to a private local buyer in a 1031-exchange for $9.1 million.]()
CBRE brokered the sale of a net leased auto dealership in San Juan Capistrano to a private local buyer in a 1031-exchange for $9.1 million.
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![CBRE Group has brokered the sale of an industrial property in Buena Park for $15 million to OmniDuct. The maker of commercial HVAC ductwork is relocating from Anaheim and paid all cash for the property. (Courtesy of CBRE Group)]()
CBRE Group has brokered the sale of an industrial property in Buena Park for $15 million to OmniDuct. The maker of commercial HVAC ductwork is relocating from Anaheim and paid all cash for the property. (Courtesy of CBRE Group)
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![Nelson Brothers Professional Real Estate, a privately held firm in Aliso Viejo that specializes in private student housing, has brought the value of its portfolio to more than $500 million with the $44 million purchase of a student housing complex West Lafayette, Indiana. That acquisition comes on the heels of the company’s purchase of Molly Barr Trails and Molly Barr Ridge, two adjacent student housing properties near the University of Mississippi, for $25 million earlier this year. The company was founded 10 years ago by Patrick Nelson, seen here, and his brother Brian.]()
Nelson Brothers Professional Real Estate, a privately held firm in Aliso Viejo that specializes in private student housing, has brought the value of its portfolio to more than $500 million with the $44 million purchase of a student housing complex West Lafayette, Indiana. That acquisition comes on the heels of the company’s purchase of Molly Barr Trails and Molly Barr Ridge, two adjacent student housing properties near the University of Mississippi, for $25 million earlier this year. The company was founded 10 years ago by Patrick Nelson, seen here, and his brother Brian.
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![Nelson Brothers Professional Real Estate, a privately held firm in Aliso Viejo that specializes in private student housing, has brought the value of its portfolio to more than $500 million with the $44 million purchase of a student housing complex West Lafayette, Indiana. That acquisition comes on the heels of the company’s purchase of Molly Barr Trails and Molly Barr Ridge, two adjacent student housing properties near the University of Mississippi, for $25 million earlier this year. The company was founded 10 years ago by Brian Nelson, seen here, and his brother Patrick.]()
Nelson Brothers Professional Real Estate, a privately held firm in Aliso Viejo that specializes in private student housing, has brought the value of its portfolio to more than $500 million with the $44 million purchase of a student housing complex West Lafayette, Indiana. That acquisition comes on the heels of the company’s purchase of Molly Barr Trails and Molly Barr Ridge, two adjacent student housing properties near the University of Mississippi, for $25 million earlier this year. The company was founded 10 years ago by Brian Nelson, seen here, and his brother Patrick.
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![Redwood City-based Rudolph and Sletten, a general contracting firm, has promoted Jack McMackin to business development executive in its Irvine office.]()
Redwood City-based Rudolph and Sletten, a general contracting firm, has promoted Jack McMackin to business development executive in its Irvine office.
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![Redwood City-based Rudolph and Sletten, a general contracting firm, has promoted Rene Olivo to senior vice president of operations for Southern California.]()
Redwood City-based Rudolph and Sletten, a general contracting firm, has promoted Rene Olivo to senior vice president of operations for Southern California.
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![Cheryle Brown-Williamson has expanded her home staging business Just the Right Touch into Orange County. She started her company in 2011 in Los Angeles and is now based in Orange.]()
Cheryle Brown-Williamson has expanded her home staging business Just the Right Touch into Orange County. She started her company in 2011 in Los Angeles and is now based in Orange.
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Marcus & Millichap has brokered the sale of Palm Gardens Apartment Homes on Bryan Avenue in Tustin for $27.5 million. Tyler Leeson along with Alex Mobin represented the seller, a private investor. Leeson, Mobin and Steve Bogoyevac procured the buyer, a private investor. Built in 1963, Palm Gardens is a 23-building, single-story, garden-style community. The complex includes a mix of one-bedroom/one-bath and two-bedroom/one-bath units.
CBRE Group has brokered the sale of an industrial property in Buena Park for $15 million to OmniDuct. The maker of commercial HVAC ductwork is relocating from Anaheim and paid all cash for the property. CBRE’s Rick McGeagh and Joshua Bonwell represented the seller, C&S LLC, a local private investor partnership. Steve Schloemer at Colliers International represented the buyer. The 103,366-square-foot industrial property at 6388-6400 Artesia Blvd. is a free-standing building with street frontage and direct access to the 5 and 91 freeways. The site also features two-story office space.
CBRE also brokered the sale of a net leased auto dealership in San Juan Capistrano to a private local buyer in a 1031-exchange for $9.1 million. CBRE’s Gary Stache, Anthony DeLorenzo and Doug Mack represented the seller, TerraCotta Group, a private investment firm based in El Segundo. CBRE’s Emil Gurfinkel, Tim Kuruzar and Ken McLeod represented the buyer. The 26,181-square-foot Fiat Chrysler Automobiles dealership at 32881 Camino Capistrano is situated on a nearly 2-acre lot. The facility carries automobile brands such as Dodge, Jeep, Ram and Chrysler.
J.R. Williamson with NAI Capital completed the sale of a 15,600-square-foot, single-tenant industrial building in Santa Ana for $2.9 million. Williamson represented the seller, Alton Street. The buyer was NJTL. The property at 320 E. Alton Ave. is a freestanding warehouse built in 1971. At the time of the sale, the building was vacant and will be occupied by the buyer.
Lease deals
Cushman & Wakefield have brokered a lease for Terra Universal for a 45,227-square-feet industrial space at the Brea Business Park. Terms were not disclosed. The complex is owned by Brea Endeavor Holdings. Terra Universal leased the entire building at 675 Endeavor Circle and is extending its presence outward from neighboring Fullerton, where its 195,000-square-foot headquarters campus is based. Kevin Turner with Cushman & Wakefield’s Irvine office represented the tenant. Terra serves the semiconductor, aerospace, life science, pharmaceutical, biotechnology, and medical device markets.
Hotel news
SpringHill Suites by Marriott in Irvine has completed a renovation project. The 10-week project included all of the common areas as well as the 132 guest suites. Also renovated were the indoor heated pool, fitness center and business center.
New ventures
Cheryle Brown-Williamson has expanded her home staging business Just the Right Touch into Orange County. She started her company in 2011 in Los Angeles and is now based in Orange. Brown-Williamson is a member of the Real Estate Staging Association, National Association of Women Business Owners, and the Orange County Association of Realtors. Her work can be seen at Justherightouch.com
Milestones
Aliso Viejo-based Nelson Brothers Professional Real Estate has grown its portfolio to more than $500 million. The milestone comes as the firm closes two recent acquisitions, including a $44 million purchase of a student housing complex West Lafayette, Indiana. That acquisition comes on the heels of the company’s purchase of Molly Barr Trails and Molly Barr Ridge, two adjacent student housing properties near the University of Mississippi, for $25 million earlier this year. Nelson Brothers, a privately held firm specializes in private student housing and was founded in 2007 by brothers Brian and Patrick Nelson. The firm reports it has increased its combined property value by more than 40 percent since the beginning of last year. The company has more than 150 employees and manages more than 30 properties.