B/E Aerospace Inc., a Wellington, Fla.-based manufacturer of aircraft passenger-cabin interior products for commercial and business jets, is moving a local operating division from Placentia to Fullerton.
The company recently inked a lease to take over a 91,116-square-foot property at 1400 S. Manhattan Ave.
The Fullerton property, just off the Riverside (91) Freeway, previously served as the headquarters for Eleganza Tiles Inc., a seller of ceramic tiles that moved to a larger Anaheim location more than a year ago.
B/E Aerospace is leasing the Manhattan Avenue building for 10 years, in a deal valued at a little more than $5 million. That works out to a monthly rent of about 45 cents per square foot.
The relocating unit is CGR Technologies Inc., which makes military and commercial thermal-management products.
The move is expected to take place early next year, following completion of tenant improvement work. Clyde Stauff, senior executive vice president for the Irvine office of Colliers International, said the division that is relocating is expanding, and the new location should hold about 100 people.
Stauff and colleague Ross Fippinger represented the landlord in the deal, Laguna Hills-based 1400 Manhattan Properties LLC. Jeff Bethel, from the City of Industry office of Lee & Associates, represented the tenant.
B/E Aerospace ranks as OC’s 19th-largest aerospace and defense contractor by employee count, with about 300 area workers as of June, according to Business Journal records.
The company also leases space in an 85,000-square-foot site in Westminster and a 98,000-square-foot location in Anaheim, according to brokerage data.
The Fullerton industrial building is on 4.7 acres and includes 7,571 square feet of office space. The area where the building is located has been seeing improving leasing activity of late, including for class B buildings, according to Stauff.
The Manhattan Avenue property is across the street from the Fullerton building that has long served as the Southern California division headquarters of grocery store chain Albertsons. The two-story, 131,250-square-foot building was put up for sale about two months ago and has an asking price of a little under $11.7 million, or about $89 per square foot.
Nellie Gail Rework
Redevelopment and expansion of the former Moulton La Paz Shopping Center in Laguna Hills is moving ahead.
Design work for expansion of the neighborhood center was recently completed, and the project also has received entitlements to move forward with construction, according to officials with Nadel Architects who are working on the project.
The center’s owner, Vintage Real Estate LLC of Los Angeles, bought a 4-acre parcel of land next to the center—which is near the intersection of Moulton Parkway and La Paz Road—a few months ago, with an eye on expanding the roughly 60,000-square-foot shopping center.
The additions to the property, which will include The Fresh Market, a high-end European-style grocery store, will bring the center’s size closer to 100,000 square feet.
The property has also been renamed as The Village at Nellie Gale Ranch.
The expansion project—which also includes a redesign of the existing building façades, as well as other functional changes—is expected to be completed by next fall, according to Nadel Architects, which has local offices in Costa Mesa. The center will remain open during construction.
Ventura Sale
CT Realty Investors Inc. of Aliso Viejo has sold an office park in Ventura for $15.5 million.
The three-building City Center complex, which totals about 111,000 square feet, was sold to an LLC that state records show being based out of Calabasas.
CT Realty bought the property—then known as the Ventura Professional Center—in 2008. Local reports said the company paid about $11 million for the complex.
