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Brewery Snaps Up Property Next to Angel Stadium

Golden Road Brewing, a growing craft beer maker based in Los Angeles, has snapped up an industrial building across the street from Angel Stadium for its first Orange County location.

An affiliate of the company recently closed on the purchase of a 56,840-square-foot property at 2210-2220 E. Orangewood Ave.

The building sold for a little under $8.6 million, or about $151 per square foot, according to Scott Seal, principal for the Orange office of Lee & Associates who helped broker the deal.

The Anaheim building currently houses a factory showroom for window and door maker Win-Dor Inc., but plans call for converting it into a beer manufacturing facility and tasting room.

Longer-term plans include the opening of a restaurant at the site. Golden Road’s new facility should open in the next four to five months, Seal said.

Golden Road started operations in 2011 and makes a variety of canned beers under its own name, including pale ales, hefeweizens, brown ales and lagers. Last year, the company also launched a house-label beer made for Trader Joe’s supermarkets, called Ol’ Burro Brewer.

The company’s plans in Anaheim add another name to the city’s growing base of craft beer makers.

Mayor Tom Tait has helped push the city to streamline the zoning process for breweries in the area, with a goal of branding Anaheim as the Southland’s “Brew City.”

“In Southern California, when you think about craft beer and all that goes along with that scene, you’re going to think about Anaheim,” the mayor said in his most recent state of the city address.

Golden Road’s purchase marks the second sale of the property since mid-2013. It last traded hands for $6.1 million when Marble Express Inc., a Las Vegas-based importer of marble and stone products, bought it from Win-Dor’s owners.

Marble Express, which has other locations in Anaheim, never moved into the Orangewood property, leasing back the site to Win-Dor, which has now found a location in Brea, according to David Newton, a principal with the Orange office of brokerage Lee & Associates who represents the window and door maker.

Newton said Win-Dor recently signed a 62,250-square-foot lease at 450 Delta Ave., an industrial building just off Lambert Road.

The site Golden Road is taking over was once considered for a 20-story office development called Platinum Tower. The project, proposed by Irvine-based Steadfast Cos., never got off the ground in the last recession.

$482M Apartment Sale

Newport Beach-based real estate investor JH Real Estate Partners has sold a large chunk of its apartment portfolio.

The privately held company last month completed the sale of 14 complexes in Los Angeles and San Diego counties and the Inland Empire.

The properties, which totaled 2,669 units, were bought by a venture led by Los Angeles-based TruAmerica Multifamily.

They traded hands for $482 million, or about $180,000 per apartment. The complexes were described as 1980s-era, class B properties ranging from 60 to 384 units.

The transaction is one of the largest multifamily asset purchases in Southern California in the past few years.

JH Real Estate is best known for its apartment investments, having made nearly $1 billion in multifamily investments over the past 25 years.

Last year, the company announced a switch in strategy, turning its attention to retail purchases. When JH bought a San Diego-area retail center last March, the company said that it aimed to buy upward of 2 million square feet of shopping centers in California over the next three years.

The sale of the apartment portfolio to TruAmerica is part of that repositioning, the company said.

Scottsdale Buy

LBA Realty in Irvine has picked up a big office property in Scottsdale, Ariz.

The privately held investor paid a reported $49.2 million to buy the Kierland II building, a 237,875-square-foot office in North Scottsdale that’s about 10 miles outside downtown Phoenix.

The building was about 80% leased at the time of the sale, according to local reports.

The seller was Prudential Insurance Co., a tenant in the building.

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Mark Mueller
Mark Mueller
Mark is the Editor-in-Chief of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.
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