January 31, 2006
For More Information:
Donna Hahn
Hahn Communications
949/458-3983
WESTERN STATES
TECHNOLOGIES INC. ACQUIRES
TWO MORE IRVINE SPECTRUM PROPERTIES FOR $6.3 MILLION
IRVINE, CALIF. – Western States Technologies Inc. has added two Irvine Spectrum
properties to its real estate investment portfolio. The Irvine, Calif., office
of the Los Angeles-based real estate investment firm recently acquired 8 Autry
in Irvine for $2.4 million from a private investor, and 1 Mason in Irvine
for
$3.9 million from JWE Corp. The two acquisitions bring Western States Technologies’
total investments in the Irvine Spectrum to 11, with the company now owning
15 properties in Irvine overall.
Constructed in 1985, the 17,934-square-foot corporate headquarters building
at 8 Autry features a striking contemporary design composed of reflective
glass and concrete tilt-up panels. The structure’s interior space is demised
into corporate office space and warehouse use, and offers a 38-ton HVAC system,
22-foot clear height and one ground-level loading position.
The facility is currently 100 percent occupied by Sonnet Technologies Inc.,
a worldwide leader in upgrades for Apple Macintosh® computers and iPod®
digital music players.
Western States Technologies and the seller were both represented in the transaction
by Gregg Haly of CB Richard Ellis’ Newport Beach, Calif., office.
The 1 Mason building is a 22,414-square-foot industrial property featuring
a cantilevered second floor office pod and covered parking. JWE Corp., the
seller of the property, is a leading provider of integrated technology for
the homebuilding industry. JWE Corp. will continue to occupy 100 percent of
the building space in a five-year lease with Western States Technologies.
Jeff Mitchell of Voit Commercial’s Irvine office represented both the buyer
and the seller in the 1 Mason transaction.
According to Todd Miller, vice president of Western States Technologies, the
company remains highly interested in the Irvine Spectrum, as well as other
key submarkets in Orange, Los Angeles, Riverside, San Diego, San Bernardino
and Ventura counties.
“We specialize in the acquisition of single tenant industrial properties and
office buildings as well as properties with a minimum of 10,000 square feet
of divisible space,” Miller said. “While our Orange County office has had
significant success in acquiring well-located properties in the Irvine area,
we remain open to similar product types in different regions that are well
designed and offer long-term leases.”
Western States Technologies 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, Ventura and San Diego
counties.
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