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Donna Hahn
Hahn Communications
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WESTERN STATES TECHNOLOGIES INC. EXPANDS ITS SPECTRUM HOLDINGS
IRVINE, CALIF. - The Irvine, Calif., office of Western States Technologies
Inc., a Los Angeles-based real estate investment firm, has announced the acquisition
of 5 Goodyear in Irvine, Calif., for
$3.9 million. Purchased from 5 Goodyear, LLC, the property represents Western
States Technologies' eighth Irvine Spectrum acquisition since the company's
establishment in 1985. Western States Technologies currently holds 12 Irvine
properties overall in its portfolio.
The company's latest purchase is located at 5 Goodyear near the intersection
of Bake Parkway and Toledo Way. The 26,770-square-foot facility features 45
percent corporate office space, 32 percent assembly and laboratory use, and
23 percent warehouse space. Anchen Pharmaceuticals, which manufactures various
injectible drugs, has leased the entire property through 2018 and utilizes
the site for its corporate headquarters, manufacturing and distribution operations.
Constructed in 1985, the building offers high power voltage to support Anchen's
manufacturing needs, as well as four ground-level loading
docks for shipping and receiving.
According to Todd Miller, vice president of Western States Technologies, "We
were attracted to this property due to its outstanding location in one of
Southern California's premier office and industrial submarkets, as well as
its excellent site configuration for tenants."
Miller also noted that the building is contiguous to another property owned
by Western States Technologies, located at 3 Goodyear. The company purchased
its first Goodyear building in Nov. 1998.
John Salmon of Pres Companies in Newport Beach, Calif., represented both Western
States Technologies and the seller in the transaction.
Western States Technologies, headquartered in Los Angeles, concentrates on
the successful development, acquisition and rehabilitation of industrial and
office properties. The company currently owns and manages a mixed-use portfolio
totaling more than one million square feet in Los Angeles, Orange, Riverside,
San Bernardino and San Diego counties.
The company's tenants include such global business leaders as Baxter Pharmaceutical,
Dow Chemical, Gerber Technologies, International Paper, Jacuzzi, Kaiser Aerospace,
MCI WorldCom, Mikasa, Oakley, R.C. Cola, Rockwell International and Union
Carbide, among others. By incorporating its strong, hands-on asset management
approach, the company has averaged occupancy rates of more than 97 percent
portfolio-wide over the past five years. For more information, visit the company's
Web site at www.westernstatestech.com.
IRVINE, CALIF. - The Irvine, Calif., office of Los Angeles-based Western States
Technologies Inc. has acquired its eighth Irvine Spectrum property, a 26,770-square-foot
facility located at 5 Goodyear in Irvine. Western States purchased the property
for $3.9 million from 5 Goodyear, LLC. Anchen Pharmaceuticals has leased 100
percent of the space through 2018 and uses the site for its corporate headquarters,
manufacturing and distribution operations.
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