Both Sares-Regis and the buyer, Bixby Land Co., were represented by a CB Richard Ellis brokerage team from the firm's Anaheim and Newport Beach offices. The team consisted of Brad Bierbaum, Bob Goodmanson and Brian DeRevere of the Anaheim office and Mark Larson and Gary Stache of the Newport Beach office.
This property is the second Westminster asset that Sares-Regis has sold in recent months. In September, the Irvine-based real estate firm sold a nearby industrial facility located at 14650 Hoover Ave.
The building is one of three freestanding distribution buildings that comprise the 202,494-sf Westminster Business Center, which was completed by Sares-Regis earlier in the year. Pyramid Logistics paid $5.4 million for the building, which it has occupied since February 2001.
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