In December, there were three deals of note. In the first deal, located at Vineyard Plaza in Pomona, Abbey Co. sold a 63,381-sf industrial/distribution center to Flower Flanagan Partners for $8.4 million. Voorhees represented both the buyer and seller of the deal. The property, which landed $130 per-sf, was 96% leased at the time of sale.
In the second deal, ABM Plaza sold for $6.3 million to Winco Asset Management within the first month of hitting the market. The seller of the 33,400-sf property, located at 5200-5300 South Eastern Ave. in North Orange County, was Summit Commercial. Built in 1987, the property sits on 2.2 acres and offers a 4:1,000 parking ratio. Scruggs and Stache represented both parties in the deal.
In the final deal, an industrial/distribution center located at 1300 West Holt Ave. in Pomona, fetched $16.8 million. CBRE Strategic Partners LLC sold the 355,162-sf property to CH Realty/Acquisitions 111 LLC. The property was 100% leased at the time of sale. Scruggs and Stache represented both buyer and seller in the deal.
For the year, the firm closed on 45 transactions totaling $475,000,000. That activity only increased as the year progressed. For the months of November and December, the Newport Beach outfit closed on 11 deals, totaling $152,000,000.
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