A 7,073 square foot flex office building at 26022 Pala in Mission Viejo was sold to a paving company for $ 2,349,455, according to Lee & Associates.
The buyer was Concept Paving Solutions, represented by Rick Turner and Brett Wallach of Lee & Associates in Newport Beach. The seller, the Arnett Family Trust, was represented by Troy Wootan of Newmark.
Concept Paving Solutions intends to occupy the property as its corporate headquarters and administrative facility, Lee & Associates said in a statement.
Located in High Park, the building has 5,600 square feet of office space and a parking ratio of three to 1,000. Concept Paving Solutions intends to occupy the property as its corporate headquarters and administration.
New acquisition
Brea-based CoolSys acquired CE Holt Refrigeration Inc., a commercial refrigeration and HVAC company based in Charlotte, NC
CoolSys said the acquisition helps to increase its market presence in the mid-Atlantic area.
“The acquisition of CE Holt was our fourth in 2020, all along the East Coast, extending from South Carolina to Connecticut,” said Adam Coffey, CEO of CoolSys, in a statement. “This strategic acquisition increases the density of the Southeast market and continues our aggressive growth strategy with the aim of becoming a national service provider.”
Founded in 1961 by CE and Helen Holt, CE Holt Refrigeration serves major food retailers in the Southeast.
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On Monday, a worker pushes a group of batteries towards a container waiting outside ACX Pacific Northwest Inc. in Wilmington. ACX’s Wilmington warehouse stores a maximum of 4,000 batteries, turning between 1,000 and 1,200 on any given day.
People in the real estate market
Trevor Breaux was promoted to vice president of CBRE in Newport Beach. He specializes in origination of multifamily loans. Breaux started his real estate career at CBRE in 2007 as an analyst. In 2014, he was promoted to the CBRE Multifamily production team. “Achieving the title of vice president is an unbelievable feat in any circumstance, but even more so given the unprecedented year that we just passed and the fact that Trevor achieved it in just 14 years,” said Kurt Strasmann, executive director of operations CBRE in Orange County and Inland Empire.
Janice Church joined RiverRock Real Estate Group, a property and asset management company based in Newport Beach, as regional vice president for the Los Angeles area. She will oversee the company’s management team and portfolio in Los Angeles, covering 7.5 million square feet of space. Church’s career includes more than 20 years in commercial property management. Previously, she spent nearly seven years at Hines, most recently as senior manager of regional, western facilities for her Amazon account.
Ryan Kotschedoff joined Coldwell Banker Realty’s Mission Viejo office as an affiliate agent.
Arriving
New American Funding, based in Tustin, is hosting an online event, “Bridging the Gap in Black Homeownership”, during which experts will discuss strategies and techniques to increase ownership of Black Houseowners.
The keynote speaker is Kristy Fercho, executive vice president at Wells Fargo and head of real estate loans. Also participating are Gwen Garnett, program director for the Center for Financial Advancement, and Antoine Thompson, national executive director of the National Association of Real Estate Brokers.
The event will be held online at 3pm on Thursday, January 14th. To sign up, visit newamericanfunding.com/about/newsroom/event-bridging-gap-black-homeownership/
Real estate transactions, leases and new projects, industry hires, new developments and future events are compiled from press releases by collaborating writer Karen Levin. Email items and photos in high resolution to commercial editor Samantha Gowen at [email protected]. Please allow at least a week for publication. All items are subject to editing for clarity and extension.