January 08, 2013 11:00 ET

SARES-REGIS Group Develops and Sells Largest Mid-Cities Building in Seven Years

IRVINE, CA--(Marketwire - Jan 8, 2013) -  SARES-REGIS Group completed the sale of its newly developed 305,361-square-foot building in Santa Fe Springs near Los Angeles. The buyer, Industrial Income Trust, agreed to purchase the building during construction. 

It is the first large warehouse and distribution building completed in seven years in the Mid Counties industrial market that straddles Los Angeles and Orange County, said Larry Lukanish, senior vice president at the Irvine, Calif., development company.

Clyde Stauff, senior executive vice president of Colliers International, represented SARES-REGIS Group and the buyer.

The building at 9306 Sorenson Ave. is on 13.3 acres and built to LEED standards with 32 feet of clear height, ESFR Sprinklers, a 145-foot concrete truck court and 55 truck doors.

According to Stauff, the vacancy rate for large buildings in the Mid Counties market is less than 4 percent and has declined steadily from nearly 7 percent at the peak of the recession. About a dozen communities make up the Mid Counties market where industrial facilities are in demand because of the access to the region's seaports, rail network and key freeways.

Since 2002, SARES-REGIS Group has developed 11 industrial buildings totaling 830,000 square feet on 39 acres in Santa Fe Springs.

As a leading western United States real estate developer and manager, SARES-REGIS Group along with its partners and investor clients own commercial and residential assets valued at more than $4 billion. This portfolio consists of 15 million square feet of commercial space and more than 14,000 apartments.

As it enters its 20th year, SARES-REGIS Group is under way on residential and commercial projects valued at more than $3.3 billion throughout California and since its inception, SARES-REGIS Group has acquired or developed 50 million square feet of commercial properties and 20,000 homes and apartments.

Contact Information

  • Contact:
    Zoe Solsby
    (949) 809-2400

    Art Barrett
    (714) 602-6021