SOURCE: CT Realty Investors

CT Realty Investors

July 10, 2013 16:33 ET

CT Realty Investors Acquires Irvine Spectrum Industrial Property

IRVINE, CA--(Marketwired - Jul 10, 2013) - CT Realty Investors ( of Aliso Viejo, Calif., has acquired an industrial property in the Irvine Spectrum in Irvine, Calif., for $17.3 million. The 180,981-square-foot industrial warehouse, located at 9 Holland, was purchased from a joint venture between the Brookhollow Group and Penwood Real Estate Investment Management.

The property enjoys outstanding access to the Interstate 5 and 405 Freeways as well as the 133 and 241 Toll Roads. Configured for two tenants, Bio-Rad Laboratories Inc., with revenues exceeding $2 billion, currently leases 88,180 square feet or approximately 48 percent of the building. Bio-Rad manufactures and distributes a broad range of products for the life science research and clinical diagnostic markets and serves more than 100,000 research and industry customers worldwide.

According to Carter Ewing, managing partner of CT Realty Investors, the company plans to reposition the remaining space to appeal to the South Orange County submarket, which is experiencing a lack of industrial supply due to strong absorption and the scarcity of buildable land. The re-configuration will include modernization of the existing office space and conversion of some of the office space to additional warehouse space. Currently featuring four dock high loading doors, CT's repositioning plan will include the ability to add two more doors depending on tenant needs.

"The Holland property is located in one of the best performing industrial submarkets in Southern California with outstanding access to service areas in Orange, Los Angeles and San Diego Counties," Ewing said. "We were also attracted to this property because it represents one of the few available industrial properties in this submarket, especially in the 75,000 to 150,000-square-foot range. The South Orange County submarket primarily consists of regional offices and corporate headquarters for locally-owned businesses. This is a rare opportunity to provide much-needed industrial warehouse space in the Spectrum area, a highly desirable location with terrific retail and restaurant amenities as well as nearby executive housing."

CT Realty represented itself in the Holland acquisition, with Gregg Haly, Jeff Carr and Dave Desper with the Newport Beach, Calif., office of CB Richard Ellis representing the joint venture seller.

About CT Realty Investors

Since its establishment in 1994, CT Realty Investors has completed more than 200 transactions with value in excess of $2.5 billion. More recently, the primary investment focus has been industrial properties in Southern California and Dallas, Texas, with more than five million square feet of existing buildings and more than 600 acres of land acquired since 2010. More information about CT Realty Investors may be found at

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