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Contact: Jessica Neuman
IDEA HALL
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Buchanan Street Partners Invests $25.4 Million in an Industrial Park in Santa Ana, CA

 

Newport Beach, CA (December 21, 2006) - Buchanan Street Partners, a national real estate investment bank, invested $25.4 million in an industrial park project in Santa Ana, CA. The project was purchased for $30.5 million and consists of 230,000 square feet of net rentable area.

 

These 11 buildings contain 50 units that range in size from 2,500 square feet to 15,640 square feet. The buildings were constructed in phases that began in 1969 and are situated on 14.5 acres. The property sits in the Santa Ana industrial district and has easy access to major freeways and John Wayne Airport. "Growing international trade and an expanding regional economy has created tremendous demand for industrial space in Southern California, pushing vacancy rates to very low levels," said Tim Ballard, Buchanan Street Partners' chief investment officer. "Vacancy rates for industrial space in Orange County have fallen below four percent."

 

Buchanan Street Partners provided this joint venture equity so that Master Development Corporation, a Newport Beach based operator, could renovate and re-brand the property into a desirable location for small business owners. The units will be parceled as condominiums and sold individually. This transaction marked the sixth equity investment with the Master Development.

 

About Buchanan Street…

Buchanan Street Partners is a national real estate investment bank that provides real estate capital and advisory services for owners and developers, and Investment Management for institutional and high-net-worth investors. The firm's advisory services include debt and structured finance and investment sales for commercial, and multi-family properties. Buchanan's Investment Management business invests equity and structured debt capital with local operating partners nationally. Offices are located in Newport Beach, Los Angeles, San Francisco, Chicago, Atlanta and Washington D.C.

 

About Master Development Corporation…

Master Development Corporation is a developer and general contractor of industrial buildings throughout Southern California. The company is based in Newport Beach, CA and was founded in 1995. For more information, visit http://www.masterdevelopment.com/.