An updated seven-unit apartment complex in Anaheim sold Oct. 27 for $3.2 million or $457,142 per unit.
Morgan Skenderian Investment Real Estate Group in Newport Beach represented the seller, DRI Wakefield LLC. The buyer was TREK Investment LLC.
The complex at 201 E. Wakefield Ave. — just 2.5 miles from Disneyland and blocks from the 5 freeway — was built in 1964. It includes a 9,436-square-foot, two-story building and a mix of apartments that range from two bedrooms up to five bedrooms.
Rents, according to the brokerage, range from $2,545 up to $3,995.
12 units, $3.3 million in Santa Ana
A 12-unit apartment building in Santa Ana sold Oct. 3 for $3.3. million or $275,000 per unit, according to Marcus & Millichap.
The brokerage represented the buyer and seller, both of whom were unidentified.
“Apart from the excellent location directly adjacent to the Downtown Santa Ana and Civic Center area, the sellers were able to maximize value through interior and exterior renovations,” said Greg Bassirpou, a senior managing director of investments at the firm.
Bassirpou said the buyer plans to do more renovations in order to improve operations, maximize cash flow “and fully stabilize the asset.”
The property at 609 North Baker St. includes 12 two-bedroom, one-bathroom units in 8,926 square feet. Amenities include a gated-entry with a large courtyard and 12 enclosed garages, patios and on-site laundry rooms.
Hot rod maker relocates in Orange
Cambra Motor Sports, also known as Cambra Speed Shop, has relocated in the city of Orange, leasing an 11,190-square-foot industrial property at 675 N. Main St.
Lee & Associates in Orange negotiated the five-year lease for Cambra and the landlord, Western Enterprises LLC.
Financial terms of the lease were not provided.
The property includes 4,000 square feet of office space, which includes 1,500 square feet of drop-ceiling production space and 13-foot warehouse clearance.
“This facility provides Cambra Motor Sports with an ideal combination of office, production, and warehouse space in a central Orange County location,” said David Williams, a principal with the brokerage.
Cambra makes hot rods and custom cars bikes, trucks and vans, according to its website. Its previous shop was on W. Angus Ave. in Orange.
Industrial space sells for $2M in Westminster
A multi-tenant industrial building at 15083-15091 Weststate St. in Westminster sold for $2 million.
The sale of the 4,272-square-foot, three-unit building closed Oct. 17, according to Lee & Associates in Orange.
The brokerage represented the unidentified buyer and seller.
“This sale demonstrates the continued strength of the Orange County industrial and commercial real estate market,” said Greg Diab, a principal at Lee & Associates. “High-quality, multi-tenant properties with strong fundamentals continue to attract buyers/investors seeking stable, long-term opportunities.”
Movember launches at HIG
Hanley Investment Group in Corona del Mar has launched its 15th annual Movember fundraising campaign.
The theme this year is “Mo’ments in Time” and coincides with the firm’s 20th anniversary.
HIG has participated in the fundraiser for men’s cancer and healthcare initiatives since 2011, raising $400,000 for Movember.
“I carry this cause close to my heart in memory of my father, who passed away from prostate cancer in 2009,” said Ed Hanley, president of Hanley Investment Group. “His strength and story continue to inspire our mission to make a lasting impact.”
Hanley said the campaign this year will be “especially meaningful.”
“As we reflect on 20 years in business and 15 years of Movember fundraising, we’re sharing throwback photos and stories from past campaigns, each moustache a symbol of our commitment to saving lives and sparking conversations,” he said.
Participants start clean-shaven on Nov. 1 and spend the month grooming and growing their moustaches. Their efforts turn their faces into walking, talking billboards for men’s health. Women, known as “Mo Sistas,” also join the cause.
To contribute or learn more about the fundraiser email info@hanleyinvestment.com or go to us.movember.com/team/2234814
On the move
Philip Voorhees is leaving CBRE at the end of the year, joining Bison Partners in Irvine as a partner. Currently the vice chairman in CBRE’s Retail Capital Markets division, he will oversee Bison’s acquisitions and capital markets. The firm, launched in 2022, is a real estate operating company with a focus on retail properties. Its founders are Brad Rable and Wil Smith, the current CEO and president of Greenlaw Partners law firm. Together they aim to acquire and reposition retail shopping centers in California, Arizona and Nevada.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to sgowen@scng.com . Please allow at least a week for publication. All items are subject to editing for clarity and length.