The tofu maker Pulmuone Foods USA in Fullerton is expanding — in Buena Park.
The company is doubling its office space, leasing an extra 7,000 square feet at Village Business Park.
Terms of the lease expansion were not disclosed by Stanton Road Capital, which owns the property.
Pulmuone first expanded to the business park in 2021. It’s new space now totals 13,725 square feet, allowing the company to add to its administrative staff.
During the height of the pandemic, Pulmuone also enlarged its Fullerton headquarters by 100,000 square feet, doubling its production capabilities.
The tofu and kimchi maker is owned by Pulmuone South Korea. Their products are sold in myriad grocery stores around the world. Pulmuone touts a 70% market share of the tofu trade. Brands include Nasoya and Wildwood, Emerald Valley Kitchen, Monterey Gourmet Foods and a line of Pulmuone-branded items.
Stanton Road Capital says it has heavily invested in improvements at Village Business Park, including a fully updated outdoor courtyard designed to be a “second space” for all tenants. The campus is 84% leased, according to the firm.
Affordable apartments debut in Lake Forest
Lake Forest has welcomed a 71-unit affordable housing complex called Mountain View.
The property is National CORE’s eighth affordable housing community in Orange County. The latest building brings the combined total to 970 apartments.
Mountain View includes one-, two- and three-bedroom apartment homes for people and families who earn less than 60% of the area median income. It is located near the El Toro Road corridor, within walking distance of schools, grocery stores and retail shops.
All the units are leased, according to National CORE.
“It was an absolute thrill to partner with Lake Forest to bring such a magnificent property to completion,” National CORE President Michael Ruane said. “Mountain View marks our first partnership with Lake Forest to bring more state-of-the-art affordable housing to those in need.”
The building includes photovoltaic solar panels, plumbing systems that limit water waste, drought-tolerant plants and rainwater retention systems to reduce irrigation demands.
Onsite amenities include a community center with computer access and warming kitchen, laundry facilities and a courtyard with a playground.
National CORE has three more developments opening in 2024 in Placentia and Anaheim. The complexes will add 214 more affordable apartments to the county.
The Hope through Housing Foundation, National CORE’s affiliated nonprofit, is providing services for residents at Mountain View.
Anaheim Hills shopping center fetches $16.7 million
A family partnership that developed Anaheim Hills Shopping Village has sold the property for $16.7 million, according to JLL Capital Markets.
Tourmaline Capital bought the 67,528-square-foot retail center in Anaheim, JLL said.
The center at 6300 E. Santa Ana Canyon Road is anchored by Big Lots. JLL said many of its other tenants are “Internet-resistant” retailers such as a nail salon, dry cleaners, a dentist and myriad others that have been at the property for many years.
The property was completed 1984.
“It is rare we see high-quality neighborhood shopping centers in Orange County trade hands,” said Daniel Tyner at JLL.
Multifamily units continue to swap owners
Several small apartment complexes recently swapped owners, including a Santa Ana building that’s nearing its 90th birthday.
The 10-unit property at 315 West 10th St. sold for $2.08 million, according to Marcus & Millichap.
Built in 1936, the building includes six studios and four one-bedroom apartments. The property is fully leases with tenants on month-to-month leases, according to Marcus & Millichap. The building is near downtown Santa Ana and its mix of bars, restaurants and shops along the 4th Street.
Anthony Brown at Marcus & Millichap said the property traded in an off-market transaction.
“This unique transaction involved seller carry-back financing, allowing the buyer to acquire the property with favorable terms for both parties,” Brown said.
Tustin property snares $5.67 million
A13-unit apartment property in Tustin recently sold in a 1031 exchange for $5,675,000, according to Marcus & Millichap.
The seller and buyer were not identified by the brokerage.
The building at 15642 Pasadena Ave. was completed in 1989 and includes four one-bedroom/one-bath and seven three-bedroom/two and a half-bath townhomes, as well as two accessory dwellings.
Some of the units, were upgraded and have stainless steel appliances, quartz countertops and in-unit laundry. Each unit comes with garage parking, private patios and central air and heat.
“This buyer offered aggressive terms that were favorable for our seller,” said Tyler Leeson at Marcus & Millichap.
Anaheim complex trades for $1.6 million
A smaller, seven-unit apartment building in Anaheim recently sold for $1.6 million.
The transaction was another handled by Marcus & Millichap.
The building at 128 East Wakefield Ave. includes four one-bedroom/one-bath and three two-bedroom/one-bath apartments.
The seller, who was only identified by the brokerage as living elsewhere in the country, had owned the property for 30 years.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to sgowen@scng.com. Please allow at least a week for publication. All items are subject to editing for clarity and length.
“We are helping our client facilitate a 1031 exchange into another income producing property closer to their residence,” said Christian Tait at Marcus & Millichap.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to sgowen@scng.com. Please allow at least a week for publication. All items are subject to editing for clarity and length.
