SOUTH ORANGE COUNTY, CA-The vacancy rate declined nearly 1% in May, while net absorption more than tripled, according to a recent report on the region. In addition, the average asking lease rate increased for the first time this year.
SANTA ANA, CA-North American ATK renews its lease at 3210 Croddy Way for an additional five years. Built in 1977, the single-story facility features four ground-level loading doors, an 18-ft clear height and 400 amps of power.
LAKE FOREST, CA-Costa Mesa-based Armstrong-Butcher Properties LLC acquires the 12-acre site. It plans to build 29 industrial facilities on the property, ranging in size from 4,000 sf to 20,000 sf.
ANAHEIM, CA-The mortgage loan has a 6.68% interest rate and a debt service coverage of 1.26x. The complex, known as the Parisian Apartments, is a 47-unit complex built in 1966.
OXNARD, CA-The multifamily syndicator and operator pays $10.4 million for the apartment community and an adjacent three-acre parcel. The deal translates to an 8.3% capitalization rate and a 6.8 gross rent multiplier.
MIDWAY CITY, CA- Built in 1973, Midway Manor Apartments consists of 99 one- and two-bedroom units. The financing has a 6.68% interest rate and a loan to value of 71%.
ORANGE, CA-The locally based provider of title insurance services declares a five for four stock split, which will be effective on July 18, 2002. The company's CEO says the stock split is being implemented to reward current shareholders, as well as encourage new investors.
ONTARIO, CA-The company wraps up a $25-million recapitalization involving its ownership of the 211,898-sf Ontario Gateway retail center. The new funds will be used to develop as much as 30,000 sf of additional retail space at the 23-acre Ontario site.
ONTARIO, CA-A Pasadena-based investment group purchases a 27,743-sf industrial building in Ontario. Built in 1987, the freestanding building is fully occupied.