April 2, 2001 By Brad Berton, Commercial Real Estate Direct Contributing WriterO'Neill sportswear licensee La Jolla Sport has purchased a former Bristol-Myers Squibb industrial building in Irvine, Calif., for its corporate headquarters and distribution facility.La Jolla paid $7.2 million, or ...
Deal expected to close in May.Ventana Property Services will manage thefully leased property.
Buyer plans about $1Mln in capital improvements on property at 10511 Arrow Route.
LJ Melody provided a 5-yr $14Mln loan for the property through a Freddie Mac program. The interest-only loan carries a rate of 6.28%.
Buyer is a joint venture of Developers Diversified Realty, Coventry RE Partners and Prudential RE Investors.
The property sits on an 8.7-acre site; Home Depot is expanding the store from the current 106,000 sf.
Retail tenants include Albertson's, Bed Bath & Beyond and Ross Dress for Less.
Hudson will renovate the long-vacant former HQ for Pacific Savings Bank while seeking tenants.
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