One of the two Aliso Viejo offices owned by computer giant Dell Inc. has been quietly sold to a local investor.
Property records show Irvine-based LBA Realty bought 5 Polaris Way, a 78,702-square-foot office just off the San Joaquin Hills (73) toll road.
Terms of the deal haven’t been disclosed. The building was one of two in Aliso Viejo that Dell took over as part of its $2.4 billion buy of Quest Software in 2012.
Quest, which had been based in Aliso Viejo, paid a reported $14 million for the office about a decade ago.
LBA is known for its opportunistic purchases, such as buying the bulk of the Park Place office and retail campus in Irvine in the last downturn. That said, there’s been no indication the office’s tenant makeup or occupancy will change.
Dell occupies the entire building.
The company employed an estimated 600 people in OC last year, according to Business Journal data.
The buyer declined to comment. It’s the company’s only real estate asset in Aliso Viejo, according to LBA’s website.
Dell continues to own a 90,000-square-foot office on Polaris Way, according to CoStar Group Inc. records.
Goodwill Expansion
Santa Ana-based Goodwill Industries of Orange County is adding more storage space to handle its expanding local operations.
The nonprofit organization recently leased more space at 2250 S. Yale St. in Santa Ana, a 72,000-square-foot industrial building just off Warner Avenue.
Goodwill had been taking up about half the building but now occupies the entire property. The space it’s taking over was previously used by a Chicago-based exhibit marketing business.
Matt Christensen, a broker with the Irvine office of JLL, represented Goodwill in the lease.
The landlord, Skeffington Enterprises Inc. in Santa Ana, was represented by CBRE Group Inc.
Goodwill uses the building as its e-commerce and retail warehousing center.
The organization has been growing. It reported revenue of more than $110 million last year, up about 7% from a year earlier.
Nearly half of that comes from its nearly two dozen retail stores across the county. It opened its first boutique store in Tustin this year and plans to have one in Westminster and another in Anaheim this summer.
The organization is also growing through shopgoodwill.com, an online auction site. The Santa Ana warehouse is being used as a fulfillment center for the site.
Costa Mesa Infill
Irvine-based Brandywine Homes is moving ahead on a 26-home infill development near The Triangle shopping center in Costa Mesa.
The builder recently closed on the purchase of an 18-unit apartment complex on Anaheim Avenue from Irvine-based Abco Realty and Investments Inc.
CoStar Group records indicate the complex, which is on 1.4 acres, was bought for $5 million.
Brandywine officials said they’ve begun demolition of the apartment complex and that they’re targeting a completion of a townhome project by the fall of 2015. Sales are expected to start next February.
There will be two floor plans offered at the development, with the largest homes about 1,727 square feet.
IE Land Sales
Foremost Communities Inc., an Irvine-based residential land investment company, has struck a $62 million deal with homebuilder D.R. Horton for a trio of land sites in the Inland Empire.
Fort Worth, Texas-based D.R. Horton, the country’s largest homebuilder, bought 622 lots from Foremost. They include 246 finished lots in Jurupa Valley and Rosena Ranch, a masterplanned community in San Bernardino County, as well as 376 fully entitled but undeveloped lots at Bella Strada, a masterplanned community in Fontana.
Tom Dallape and Norm Scheel, land brokers with Irvine-based Hoffman Co., helped arrange the deal. Province West and Land Advisors Organization also represented Foremost in the sale.
Foremost said it’s now sold about 1,300 of the nearly 7,800 lots it has acquired or taken management of in the past seven years.
