Turner Real Estate Investments has completed a major renovation of 17352 Derian. The newly revealed high image freestanding industrial building has 132,545 square feet, including 2-story office and fenced yard/parking. Located in the Irvine Business Complex, there is immediate access to the 405 freeway.
Turner Purchases Royalty Carpet Sites; Sells One, Holds Other
Newport Beach-based Turner Real Estate Investments bought two industrial properties in the heart of Orange County vacated last year by Royalty Carpet Mills Inc. The purchase totaled 546,854 square feet.
Receiving strong interest from e-commerce related operators, the 414,309 square foot property located at 515 East Dyer Road was sold out of escrow to Hines.
TREI will focus on an extensive update of the remaining 132,545 square foot building located at 17352 Derian. As part of the Irvine Business Complex, it is near the Diamond Jamboree shopping center. Anticipated occupancy is January 2019.
It’s Turner’s largest industrial investment in Orange County in several years.
Turner Crossing – Thomas Ranch
Construction on a three building spec industrial project in Corona has been completed. The new Thomas Ranch Business Park is comprised of 22,869, 46,944 and 59,502 square foot buildings, each having been sold at market high prices. The adjacent 4.5 acre plot of land has also been sold.
Turner Crossing – Thomas Ranch
Construction is nearly complete on a three building spec industrial project in Corona with an April 2017 completion date. Buildings will be 23,000, 40,000 and 60,000 square feet. The 23,000 square foot and 60,000 square foot buildings have already been pre-sold at market high rates. There is an additional 4.5 acre plot adjacent to the project which is available for sale. For further details, please see Turner Thomas Ranch website www.turnerthomasranch.com.
Turner Crossing – Chino Hills
Turner Real Estate Investments has developed a 3 building project, consisting of one 95,000 single tenant building, one 105,000 and one 120,000 square foot multi-tenant product for lease. The single tenant building was sold at a market high price of $131/SF. The multi-tenant buildings are 100% leased before the completion of construction. All three buildings will be delivered in April 2017.
Sales
Sales have been swift at Turner Crossing, Santa Fe Springs where all 7 buildings have been sold.
The 70,000-square-foot industrial park is located in the City of Santa Fe Springs, CA.
Turner recently completed an overhaul of the industrial park, creating condos for purchase, as well as a facelift of the building’s facade, retrofitting, landscaping and refurbishment of the common areas. The commercial developer worked with Santa Monica-based M. Elle Designs on the refurbishment project
Construction is underway at Turner Thomas Ranch
Construction is underway on a three building spec industrial project in Corona with a January 2017 completion date. Buildings will be 23,000, 40,000 and 60,000 square feet. The 23,000 square foot building has already been pre-sold at a market high number of $168 per square foot. There is an additional 4.5 acre plot adjacent to the project which is available for sale. For further details, please see Turner Thomas Ranch website www.turnerthomasranch.com.
Turner Crossing — Santa Fe Springs is sold out
Turner Crossing, Santa Fe Springs has sold out in its entirety. Turner completed an overhaul of the 70,000 square foot industrial park, putting a condo map in place, as well as a face lift of the building’s facade, retrofitting, landscaping and refurbishment of the common areas. The commercial developer worked with Santa Monica based M.Elle Designs on the refurbishment.
Construction underway at Turner Crossing — Chino Hills
Using a creative acquisition structure, Turner Real Estate Investments acquired 39 acres of industrial zoned land in Chino Hills in September 2015. Seeing the need for quality multi-family housing, TREI worked with the City of Chino Hills to re-entitle 17 acres for the development of 346 units of high amenity product. The land was subsequently sold to a multi-family developer/builder.
The balance of the land is being developed by TREI into a 3 building project, consisting of one 95,000 single tenant building, one 105,000 and one 120,000 square foot dock high, multi-tenant product for lease. These will be delivered in March 2017. The 95,000 square foot single tenant building has already been sold at a market high of $131/SF, and active pre-leasing is occurring.