The leadership switch is “shaking up one of Sacramento’s most influential labor groups,” Politico reported.
Alcalde Business Center, a three-building industrial business park in Laguna Hills, has traded hands for $13.95 million. Alcalde Business Center, a three-building industrial business park in Laguna Hills, has traded hands for $13.95 million.
“South Orange County industrial rents increased substantially in 2022 and are expected to continue to rise in 2023,” said Mark Shaffer at CBRE. “With short-term leases and in-place rents significantly below market, the asset offers significant near-term upside and long-term appreciation.” “Strategically, we like the south Orange County real estate market in the short- and long-term,” said Patrick Wood, CEO and president of the firm. “The 99 Store has been a good tenant and partner of ours in other centers and this was another opportunity to partner with them again.”after it bought the dormant Kmart building in the mountaintop village for $6.5 million. Plans for the center include splitting it into three parts with Grocery Outlet as a key anchor.
The property at 275 and 375 De Berry St. is home to two vacant industrial buildings and a dirt lot, CBRE said, and is approved for a new 412,000-square-foot warehouse that could be done as early as late 2024.
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