A 7,073-square-foot flex office building at 26022 Pala in Mission Viejo has been sold to a paving company for $2,349,455, according to Lee & Associates.
The buyer was Concept Paving Solutions, which was represented by Rick Turner and Brett Wallach of Lee & Associates in Newport Beach. The seller, the Arnett Family Trust, was represented by Troy Wootan of Newmark.
Concept Paving Solutions intends to occupy the property as its corporate headquarter and administration facility, Lee & Associates said in a statement.
Located in High Park, the building has 5,600-square-feet of office areas and a three to 1,000 parking ratio. Concept Paving Solutions intends to occupy the property as its corporate headquarter and administration facility.
New acquisition
Brea-based CoolSys has acquired C.E. Holt Refrigeration Inc., a commercial refrigeration and HVAC company based in Charlotte, N.C.
CoolSys said the acquisition helps to increase its market presence in the mid-Atlantic area.
“The acquisition of C.E. Holt was our fourth in 2020, all of which were along the East Coast, stretching from South Carolina to Connecticut,” said Adam Coffey, CEO of CoolSys, in a statement. “This strategic acquisition builds density in the Southeast market and continues our aggressive growth strategy with the goal of becoming a national service provider.”
Established in 1961 by C.E. and Helen Holt, C.E. Holt Refrigeration services leading grocery retailers in the Southeast.
People in real estate
Trevor Breaux has been promoted to vice chairman at CBRE in Newport Beach. He specializes in multifamily loan originations. Breaux began his real estate career at CBRE in 2007 as an analyst. In 2014, he was promoted to the CBRE Multifamily production team. “Achieving the vice-chairman title is an unbelievable feat under any circumstances but even more so given the unprecedented year we all just have come through and for the fact that Trevor accomplished it in a mere 14 years,” said Kurt Strasmann, executive managing director of CBRE’s Orange County and Inland Empire operations.
Janice Church has joined Newport Beach-based RiverRock Real Estate Group, a property and asset management firm, as regional vice president for its Los Angeles region. She will oversee the firm’s Los Angeles management team and portfolio, encompassing 7.5 million square feet of space. Church’s career includes more than 20 years in commercial property management. Previously, she spent nearly seven years at Hines, most recently as senior regional facilities manager, west region for its Amazon account.
Ryan Kotschedoff has joined the Mission Viejo office of Coldwell Banker Realty as an affiliate agent.
Coming up
Tustin-based New American Funding is hosting an online event, “Bridging the Gap in Black Homeownership,” during which experts will discuss strategies and techniques to increase Black homeownership.
The keynote speaker is Kristy Fercho, a Wells Fargo’s executive vice president and head of home lending. Also participating are Gwen Garnett, program director at the Center for Financial Advancement, and Antoine Thompson, national executive director of the National Association of Real Estate Brokers.
The event will be held online at 3 p.m. Thursday, Jan. 14. To register, go to newamericanfunding.com/about/newsroom/event-bridging-gap-black-homeownership/
Real estate transactions, leases and new projects, industry hires, new ventures and upcoming events are compiled from press releases by contributing writer Karen Levin. Submit items and high-resolution photos via email to Business Editor Samantha Gowen at [email protected]. Please allow at least a week for publication. All items are subject to editing for clarity and length.
