A 38-unit apartment complex in Santa Ana has sold for $7.52 million to a private investor in Newport Beach.
The property, at 701 E. 5th St., received multiple offers, according to The Mogharebi Group, which represented both the buyer and the seller, an unidentified private investment group in Orange County.
The 5th Street Apartments, built in 1955 and 1961, is a two-building, two-story complex with 17,179 rentable square feet. Apartments come in studio, one-bedroom, and two-bedroom floor plans.
The apartments are also close to the city’s trendy 4th Street Market and downtown community.
Brea office building sells
HFF has closed the $33.5 million sale of Fairway Center I, a 145,467-square-foot office building at 1800 E. Imperial Highway in Brea.
Fairway Center I is leased to five tenants and is nearly full, according to the brokerage.
The building, situated on 5.5 acres at the intersection of Imperial Highway and Placentia Avenue, is east of the 57 Freeway and the Brea Mall.
HFF marketed the property on behalf of an unnamed seller. Dollinger Properties bought the property. The HFF investment advisory team representing the seller was led by Mark DeGiorgio and Michael Leggett.
Irvine-based design firm Ware Malcomb has opened an office in Dallas, bringing its total office count in the U.S., Canada, Mexico and Panama to 23.
Ware Malcomb, which provides planning, architectural design, interior design and civil engineering services, has been in the Texas market since 2013 and has an office in Houston.
Chris Mavros is the regional director leading the Dallas office.
Some of the firm’s Texas projects include Southport Logistics Park in Dallas; Biagi Bros. distribution center in Hutchins; and Dril-Quip in Houston.
Big Bear Lake City Councilor Bill Jahn is the newly installed president of the Southern California Association of Governments (SCAG). His top priorities, he said in a statement, will be addressing the housing crisis and developing broader collaborations at the state and regional level.
Jahn previously served as SCAG’s first vice president.
“For me, it’s all about housing. We’ve got a crisis on our hands – not just here in Southern California but across the state,” he said in the statement. “It’s such a complicated issue, and it’s going to take all of us working together to begin to begin to solve it.”
Jahn said he grew up in the housing business and sees an opportunity to work with the governor’s office and experienced, qualified developers to “break down some of the barriers that stand in the way of bringing more affordable, workforce housing to our communities.”
SCAG represents 191 cities, six counties and nearly 19 million people.
Jahn is serving his fourth term on the Big Bear Lake City Council. He’s also the former president of the San Bernardino County Transportation Authority and has served on SCAG’s Regional Council since 2010.
In 2016, Jahn received Larry Chimbole Public Service Award by his colleagues at the League of Cities Desert Mountain Division.
Michael Glaze has joined the Dana Point/San Clemente/San Juan Capistrano office of Coldwell Banker Residential Brokerage as an affiliate agent. Previously, he was an agent with Beachside Real Estate.
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