The building that houses the VCA Animal Hospital in Fountain Valley was sold for $ 9.1 million, according to the National Net Lease Group of SRS Real Estate Partners, which negotiated the deal.
The 23,800 square foot single tenant property located at 18300 Euclid Street was purchased by an unnamed private investor. The seller was a private family trust based in Orange County. Both parties were represented by the SRS team: Managing Directors Matthew Mousavi and Patrick Luther and Executive Vice President Rich Walter.
VCA recently extended its lease for an additional 10 years; the location is one of VCA’s five flagship hospitals for its brand, according to SRS.
Built in 1969 and tenant remodeled in 2017 with $ 6 million in major renovations, the property sits on 2.14 acres just off Highway 405.
SRS said it processed the sale of 11 retail transactions, since the start of the year, worth $ 107 million in Orange County, including the sale of approximately $ 45 million of a property occupied by Home Depot in Brea.
People in real estate
Tom Sorley has joined the board of directors of The Sundt Cos., Parent company of general contractor Sundt Construction. He retired as CEO of Rosendin Electric in December 2019 and is now executive chairman of the company. Sorley has over 40 years of industry experience, 31 of which with Rosendin Electric. He has served on various industry and community boards, including the National Academy of Construction, the Design-Build Institute of America, the Lean Construction Institute, the San Francisco Bay Area Council, and The Beavers, an association of heavy mechanical construction. He also served on the Architecture Construction Engineering (ACE) Advisory Board at Arizona State University.
Casey Shay joined SmartStop Self Storage REIT at Ladera Ranch as a Senior Financial Analyst. He will be part of the leadership team involved in all financial planning and analysis for SmartStop and its approximately $ 1.6 billion portfolio of self-storage assets under management. Shay has over 15 years of finance experience in a variety of industries, most recently as CFO for Synaptics and Esterline Power Systems.
Real estate transactions, leases and new projects, industry hires, new businesses and upcoming events are compiled from press releases from editor Karen Levin. Email high-resolution articles and photos to business editor Samantha Gowen at [email protected] Please allow at least a week for publication. All elements are subject to change for clarity and length.