NGKF Capital Markets Sells Half of Sunbelt Enterprises Portfolio

NEWPORT BEACH, CA—NGKF Capital Markets has completed six transactions totaling 1,18 million square feet on behalf of Sunbelt Enterprises, LLC and its affiliated entities. Concentrated in the Southern California and Las Vegas regions, these transactions represent more than half of the company’s 2.1-million-square-foot real estate portfolio for sale. NGKF Capital Markets Executive Managing Directors Robert Griffith and Rick Sheckter were tapped last year to market the portfolio for Sunbelt Enterprises.

The most recent sale was the Packing House Square property located at 18200 Yorba Linda Boulevard in Yorba Linda, CA, to PRES Companies. The class A asset is located across from the Richard Nixon Library & Birthplace. The seven-building office and retail property totals 146,749 square feet and consists of a four-story, 96,652-square-foot office property that was 85 percent leased at the time of sale, along with six retail buildings totaling 50,097 square feet that were 98 percent leased at the time of the sale.