SOURCE: SARES REGIS Group

SARES REGIS Group

October 25, 2010 17:05 ET

SARES REGIS Group Leases Anaheim, Calif., Industrial Building to Straub Distributing Co. Ltd.

IRVINE, CA--(Marketwire - October 25, 2010) -  SARES REGIS Group signed Straub Distributing Co. Ltd. to a 15-year lease of a 281,548-square-foot distribution facility in Anaheim, Calif. Officials involved in the transaction, valued at $37.5 million, say the lease represents an expansion of operations for the longtime Orange County distributor of Budweiser beer and other imported brands.

For SARES REGIS Group, the agreement comes three months after the Irvine, Calif.,-based real estate company purchased a note and took control of the vacant Class A distribution building through foreclosure, said Larry Lukanish, vice president in the company's Commercial Investment Division.

The building is at 4663 La Palma Avenue. Straub was represented by Richard and Paul Julian of Advanced Real Estate Services in Lake Forest, Calif. SARES REGIS Group was represented by Brad Bierbaum and Ryan Peterson of CB Richard Ellis' Anaheim office.

Paul Julian said Straub Distributing has been operating at three Orange County distribution and headquarters locations totaling 211,586 square feet that will be consolidated at the Anaheim facility. The buildings being vacated are for sale or lease, he said. They are: a 59,645-square-foot office building at 2701 Dow Ave., Tustin; a 78,000-square-foot distribution building at 410 W. Grove Ave., Orange, and a 73,941-square-foot distribution facility at 3 Holland in the Irvine Spectrum.

The lease rate for the Anaheim building is 62 cents per square foot with annual 2.5% increases. The lease commences in April 2011 after refrigeration and other improvements are completed. The facility was built in 2001.

SARES REGIS Group is one of the leading developers and managers of commercial and residential real estate in the western United States. Currently, the company has more than 4 million square feet of commercial industrial in the entitlement process and 1,962 residential units in pre-construction and development. SARES REGIS Group has a combined portfolio of property and fee-based assets under management valued at more than $4 billion, including 15 million square feet of commercial and industrial space and 16,180 rental apartments. Since its inception the company has acquired or developed approximately 44 million square feet of commercial properties and 19,000 multifamily and residential housing units. For more information, go to www.sares-regis.com.

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