Another firm with ties to Korea’s booming skincare and aesthetics industry appears to be setting up shop in Orange County.
An LLC whose execs have ties to Silicon2, a distributor of K-Beauty products with West Coast operations currently based in Santa Fe Springs, recently closed on the purchase of a two-building complex along Beach Boulevard in Buena Park, property records indicate.
The LLC paid $53.3 million for the buildings at 5530 Beach Blvd. and 5609 River Way, which totals 183,000 square feet of office and industrial space, located on 9.2 acres. The deal works out to a price of about $291 per square foot.
The buildings, located about a mile north of the Santa Ana (5) Freeway, last traded hands in 2022, when a venture between investors Staley Point Capital of Los Angeles and Bain Capital Real Estate of Boston paid $41 million for the property, which was last used and owned by an affiliate of supplement maker Nutrilite’s parent co., Amway, which has other facilities in the area.
Consumer Products Buyer
The Staley Point-Bain Capital JV didn’t disclose the name of the new buyer in the latest deal but noted in a statement that “the two assets were sold to a ‘consumer products business that will benefit from the properties’ frontage on Beach Boulevard and the proximity to local consumers, amenities and major freeways.”
Silicon2 runs the stylekorean.com website and distributes Korean cosmetic products to more than 100 countries around the world, according to its LinkedIn page. It currently counts nice branch offices and logistics centers in California, New Jersey, Indonesia, Chile, Kuwait and Vietnam, it says. It originally focused on semiconductors, before pivoting to cosmetics in 2012, according to its website.
Attempts to reach the company for comment on its plans for the new facility were unsuccessful.
Growing Base
OC counts a large base of cosmetic distributors, including long-time area firms like Arbonne and Senegence.
Korean-focused cosmetics firms have increasingly taken space in the area. The Business Journal last year was first to report on popular Korean skincare company Riman Inc. paying nearly $14 million for an Irvine office, which now serves as its North America base.
