QLogic acquires Aliso Viejo building [The Orange County Register]
(Orange County Register (CA) Via Acquire Media NewsEdge) Feb. 24--Computer networking company QLogic Corp. has acquired an office building just down the street from its Aliso Viejo headquarters.
The company paid $6.5 million for 26840 Aliso Viejo Parkway, a two-story, 33,915-square-foot property built in 2000.
The building, not far from the 73 Freeway, is part of the Town Center Corporate Park.
Douglas Mathews, who represented the seller, said the building was snapped up almost as soon as it hit the market.
"There was quite a bit of interest," said Mathews, senior managing director in Newmark Grubb Knight Frank's Newport Beach office. "There's a very limited supply now of buildings for sale."
QLogic, which develops adapters and other products that support data networks, declined to comment on its plans for the property. But Mathews said the growing company plans to occupy the space.
Mathews and Gary Allen, both of Newmark Grubb Knight Frank, and Tim Joyce of CLW Real Estate Services, represented the seller, Aliso Viejo developer Shea Properties.
Brett Merz and Jeff Manley of Cresa Orange County represented the buyer in the transaction.
Anaheim company sells center
Hanley Investment Group Real Estate Advisors, an investment brokerage headquartered in Irvine, helped Anaheim's MPC Bernardo Heights LP sell a Southern California shopping center for nearly $12.5 million.
William Asher, managing director of the firm, and Edward Hanley, president, represented the buyer and seller of Bernardo Heights Plaza, a 37,729-square-foot center in San Diego anchored by Sprouts market. ROIC BHP LLC of San Marcos was the buyer.
The fully occupied multi-tenant property is located at 15727 and 15731 Bernardo Heights Parkway in the master-planned community of Rancho Bernardo. Other tenants include Tuesday Morning, Majestic Nails & Spa and Sports Clips.
The center, which sits on 3.2 acres, was built in 1983 and renovated in 2006.
The brokers noted a strong demand for centers like Bernardo Heights Plaza. "Grocery-anchored shopping centers continue to be one of the most sought- after retail investments in today's market," Asher said.
Lender expandswith new leases
Stearns Lending Inc., a mortgage lender in Santa Ana, will put its name atop two Orange County buildings after signing a pair of new leases.
The company, which plans to keep its current headquarters, will expand into 41,076 square feet at 555 Anton Blvd. in Costa Mesa's MetroCenter at South Coast. Stearns also signed a deal for 21,441 square feet in the Xerox Centre at 1851 E. 1st St. in Santa Ana. Financial terms of the lease agreements, which each included building-top signage, were not disclosed.
The company expects to move in by May 1.
Jack McNutt, executive managing director of Newmark Grubb Knight Frank, represented Stearns. Brian Harnetiaux of Transwestern represented the owner of MetroCenter. CBRE Group Inc.'s Justin Hill and Simon Dillon represented the owner of Xerox Centre.
Irvine investor buys in Texas
Steadfast Income REIT, an Irvine-based trust focused on investments in the Midwest and South, has acquired an apartment community near San Antonio, Texas, for more than $34.5 million.
The company bought Vantage at Fair Oaks, a 14-building, 288-unit property in Fair Oaks Ranch. The complex consists of one-, two- and three-bedroom garden-style apartments with average rents of $967 a month.
The community, built last year and currently 93 percent occupied, will be renamed Fairmarc Apartments.
Steadfast has invested $605 million in 31 apartment communities across 10 states, including four properties in Texas.
Last month, the firm bought a 90-unit complex in Tennessee for $8.4 million.
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