23 May 2016

Hager Pacific Properties Invests In Four Strategic Corporate Real Estate Properties In California And Wisconsin

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Buena Park, Calif., Oakland, Calif., and Milwaukee, Wis. – May 19, 2016 – Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in the Western United States, has successfully acquired four strategic assets in California and Wisconsin: a 119,000-square-foot industrial property on 4.62 acres at 955 Kennedy Street in Oakland, California; a 41,715-square-foot ice cream plant on 5.49 acres at 6400 Regio Avenue in Buena Park, California; a 42,988-square-foot milk plant on 4.69 acres at 6408 Regio Avenue in Buena Park, California and a 585,292-square-foot business park on 32.41 acres at North Green Bay Road and West Brown Deer Road in Brown Deer (Milwaukee), Wisconsin.

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15 Oct 2015

Hager Pacific Properties Enters North San Diego Market With All-Cash $9 Million Industrial Acquisition

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San Marcos, Calif. and Newport Beach, Calif. – October 15, 2015 – Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in the Western United States, has acquired a 208,570-square-foot industrial property on 8.6 acres at 260 S. Pacific Street in San Marcos, California. HPP purchased the property through Colliers International in an all-cash transaction which required only 25 days for inspection and close of escrow.

The Pacific Avenue property will be HPP’s first acquisition in the North San Diego market and second acquisition in San Diego County, with one multifamily holding, the 180-unit Woodside Apartments, in Lakeside, California.

“We are pleased to have been able to capitalize on this opportunity to reinvest in a property that will be quickly absorbed by the market. We feel especially confident about the investment as there is a shortage of functional space in the area,” said Jason Schirn, the firm’s chief investment officer. “We have been monitoring the San Diego market for several years, and will continue to look for similar opportunities to increase our presence in the region.”

The industrial property offers unique functionality within its submarket, which only had a 3.3-percent vacancy rate at the end of Q2 2015. Property features include multiple dock-high and ground-level loading positions, a fenced two-acre storage yard and a colossal 10,000 amps of power. HPP plans to complete more than $2 million in renovations, including new roofing, lighting, loading, landscaping, offices and floors.

Mike Erwin and Tucker Hohenstein of Colliers International represented both the buyer and seller in the transaction and will be listing the property for lease.

About Hager Pacific Properties
As a real estate investment firm, Hager Pacific Properties (HPP) is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through market repositioning, property renovation and/or environmental remediation. HPP self-funds its real estate deals without outside capital. For more information visit www.hagerpacific.com.

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28 Jan 2014

Hager Pacific Properties Acquires Eight Properties In 90-Day Buying Spree

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Los Angeles – January 28, 2014 – Hager Pacific Properties (HPP), one of the leading industrial real estate investors in the Western United States, has acquired eight properties, adding to its 12 million-square-foot portfolio over the past 90 days.

As part of its overall strategic plan, HPP began its latest acquisition push last fall. Over the past three months, HPP’s new acquisitions include a distribution building in Central Los Angeles, a state-of-the-art research and development complex in Pasadena, Calif., two land sites located near the Ports of Los Angeles and Long Beach, and four multi-tenant industrial buildings in Texas.

Since 2010, HPP has acquired 32 separate properties and operates with the annual goal to buy at least 1 million square feet of industrial property per year regardless of market conditions.

“We are not market timers. Everything we acquire we expect to hold for the long term so if a deal meets our acquisition criteria, we will close the deal regardless of the macroeconomic environment,” said Rob Neal, HPP Managing Partner.

Pico Rivera Industrial Building
In October, HPP acquired a 70,000-square-foot industrial building located at 7630 Industry Ave. in Pico Rivera, Calif. from Pacific Feather Company. HPP immediately leased the property through 2016 to Robert Michael Furniture. John McMillan and Jeff Sanita of Cushman & Wakefield represented HPP in both the sale and lease transactions. HPP was attracted to the building’s strong occupancy track record.

“This property has excellent functionality for the Central Los Angeles market so it leases very quickly whenever it becomes available,” said Jason Schirn, HPP’s Chief Investment Officer.

Pasadena Research and Development Facility
In November, HPP acquired a 68,000-square-foot research and development facility at 2900 Bradley St. in Pasadena, Calif. The seller, Avery Dennison Corporation, has used the property as its primary research center since its construction in 1987. Brian Denton of DTZ represented HPP in the acquisition and is currently marketing the amenity rich property for HPP.

“Because this building offers a combination of the highest clearance warehouse in the submarket, state of the art laboratory space, Class A offices and excess land for parking, we believe it will be quickly absorbed,” said Neal.

Ports of Los Angeles and Long Beach Land Sites
HPP acquired two properties from Hanson Aggregates, LLC.  The first property is an approximately 3-acre land site in the heavyweight corridor adjacent to the Ports of Los Angeles and Long Beach at 2811 Grant St. in Wilmington, Calif. HPP renewed the existing lease with Fast Lane Transportation. The second property, which has been put on the market for lease, is a 4-acre land site visible from the 405 Freeway at 1660 E. 32nd St. in Long Beach, Calif. Lary Carlton of Colliers International represented HPP in both sale transactions and has the lease listing for these sought-after sites. 

“Land sites of this size near the ports rarely become available so we are thrilled that we were able to acquire both of these properties. We plan on keeping outside storage as the intended use for both sites for the foreseeable future,” said Schirn.

Four Property Portfolio in Texas
In addition to its Los Angeles purchases, HPP’s buying spree began with the acquisition of four properties in the Texas border town of McAllen. The firm currently owns approximately 700,000 square feet in McAllen and is the largest private investor of industrial real estate in the market.

“Demand in McAllen is directly correlated to the strength of the Mexican economy which we believe has great potential,” said Neal. “The majority of our tenants are suppliers to companies manufacturing in Mexico. We are thrilled with the performance of our assets in McAllen.”

About Hager Pacific Properties

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through repositioning, renovation or reuse of the property. The firm currently owns in excess of 110 properties valued at nearly $2 billion, all acquired using its own internal capital. The preferred buyer of challenging properties, Hager Pacific self-funds its real estate deals without outside capital. For more information visit www.hagerpacific.com.

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06 May 2013

Hager Pacific Aquires 16-Building Industrial Portfolio In Texas

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Newport Beach, Calif. – May 6, 2013Hager Pacific Properties, one of the largest privately owned real estate investment firms in the west, has acquired a portfolio consisting of 16 industrial properties totaling more than 800,000 square feet in McAllen and El Paso, Texas. Hager Pacific Properties purchased the distressed portfolio from CIII Capital Partners for approximately $17 million in an all-cash transaction. Hager Pacific partnered with Ben Medetsky and Jack Polatsek of Interra Capital Group in this acquisition.

“As El Paso and McAllen are directly benefiting from the increasing strength of the Mexican economy, this acquisition fits our long-term investment strategy,” said Rob Neal, Managing Partner of Hager Pacific. “Many U.S. companies are currently modifying their supply chains to take advantage of ‘near-shoring’ as Mexico becomes a more viable alternative to China as a low-cost manufacturer.”

Of the 16 properties in Hager Pacific’s new portfolio, 11 are in McAllen, ranked seventh in CNN’s 2012 list of fastest growing cities in the U.S.

“In the last few years, during the recession, demand for small units in McAllen stayed strong,” said Jason Schirn, Chief Investment Officer of Hager Pacific. “Our price is less than half of replacement cost, so we feel very good about this acquisition.” 

Just minutes from the Rio Grande, El Paso is a strategic location where warehouses are primarily used to either hold raw materials bound for the Juárez maquiladoras or store outbound finished products. Purchases in both El Paso and McAllen fit into Hager Pacific’s ongoing belief in the United States’ increasing role in international trade and domestic distribution.

Hager Pacific is now one of the largest industrial real estate owners in the El Paso and McAllen markets, and continues to pursue industrial investments priced at $3 million and greater throughout the United States. Recently, Hager Pacific has been most active in Texas and throughout the West Coast having recently acquired properties in California’s East Bay, Orange County, San Fernando Valley, San Gabriel Valley and South Bay markets.

About Hager Pacific Properties

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through repositioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific self-funds its real estate deals without outside capital. For more information visit www.hagerpacific.com.

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07 Feb 2013

Hager Pacific Properties Acquires 55,000 Square Foot Northeast San Fernando Valley Industrial Property

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February 7, 2013 – Hager Pacific Properties, one of the largest industrial real estate investors in the San Fernando Valley, has acquired a 55,000 square foot industrial  building on 3.67 acres in Sun Valley. The firm purchased the property for $3.7 million dollars from a private party.

Following the acquisition, HPP owns over 1 million square feet of industrial property in the San Fernando Valley. “For over twenty years, our firm has maintained a very active  presence in the San Fernando Valley. With a low vacancy rate of less than 3% and extremely limited land for new development, the San Fernando Valley is a submarket we target,” said Jason Schirn, the Chief Investment Officer with Hager Pacific Properties. Located near four major freeways at 11912 Sheldon Avenue, the M-2 zoned property is 100% leased to Nupla Corporation, which has operated out of the property for more than 50 years. Building features include 13’-16’ clearance heights, calculated sprinkler systems, ground level loading and heavy power. 

Greg Barsamian of Coldwell Banker Commercial represented both the Buyer and Seller in this transaction.

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04 Oct 2012

Hager Pacific Properties Purchases Real Property And Notes During September

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October 4, 2012 – Hager Pacific Properties (HPP), a leading privately held Southern California industrial real estate investment firm, acquired one industrial property and two secured notes in separate transactions during the month of September.

HPP purchased a 26,000 square foot laboratory and warehouse building on 1.12 acres of land located at 1941 S. Walker in Monrovia. The property was immediately leased to Staar Surgical Company for an eight-year term. Chalvis Evans of Coldwell Banker Commercial represented HPP in the purchase and lease transactions.

The property's immediate proximity to the future Monrovia Gold Line Station and 210 Freeway make this acquisition appealing to Hager Pacific. Jason Schirn, a HPP Principal said, "The opportunity to buy a well located asset with a tenant making a substantial commitment to occupying the property long term was very compelling to us."

In addition, HPP purchased two distressed notes for properties located in Southern California in separate all-cash transactions. These notes are secured by an approximately 63,000 square foot Class A warehouse building in Irwindale and a prominent commercial property in Newport Beach, California.

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12 Jun 2012

Hager Pacific Properties Secures $15 Million Lease In Detroit

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Newport Beach, Calif. – June 12, 2012 - – Hager Pacific Properties, one of the largest privately owned real estate investment firms in the West, has leased 293,200 square feet of industrial space at Gateway Industrial Center, a 70-acre, 1.2 million-square-foot industrial park located adjacent to Interstate 96 at Southfield Freeway in Detroit, Michigan.

Detroit Manufacturing Systems, a minority-owned parts supplier and subsidiary of Faurecia North America, signed the 15-year lease with an option to expand up to 480,000 square feet of total space. The lease transaction is valued at $15 million. Randall Allman, Dan McCleary and Matt Osiecki of CBRE Detroit represented Hager Pacific. Mike Bennett of Colliers represented Detroit Manufacturing.

“We see increasing demand for premium industrial real estate with strong location attributes throughout the Detroit area,” said Rob Neal, managing partner of Hager Pacific.  

Gateway Industrial Center features highly functional distribution space, excellent freeway access and visibility, abundant dock-high loading, fenced yard areas throughout and 24/7 security. The complex is strategically located for intermodal transportation and is ideal for warehousing and distribution tenants.

Hager Pacific is an active investor, having also recently acquired a 28.27-acre industrial site in Torrance, California. Formerly a manufacturing and terminal distribution center for Dow Chemical, the property was acquired through an auction process managed by CBRE.

 “We expect our portfolio leasing activity to remain strong as businesses continue to recognize the value of our strategically located industrial properties,” said Neal. “We remain focused on value-added opportunities nationwide, with a primary focus in Southern California.”

Hager Pacific Properties owns and manages nearly 100 properties located in major metropolitan markets across the nation valued in excess of $1 billion.

About Hager Pacific

As a real estate investment firm, http://www.hagerpacific.com is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through repositioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific self-funds its real estate deals without outside capital.  The company’s portfolio consists of nearly 100 assets ranging in size from 25,000 to more than 1 million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 11 million square feet of industrial, retail and commercial properties and 2,300 apartment units valued at more than $1 billion. www.hagerpacific.com.

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28 Mar 2012

Hager Pacific Properties Acquires 28.27 Acre Industrial Site In Torrance

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Los Angeles and Newport Beach, Calif. – March 28, 2011 Hager Pacific Properties, one of the largest privately owned real estate investment firms in Southern California, has acquired a 28.27-acre industrial site at 19500 Mariner Avenue in Torrance. The property was purchased from Dow Chemical Company which used the site as a manufacturing and terminal distribution center. Hager Pacific acquired this complex asset through an auction process managed by CB Richard Ellis. Terms of the sale were not disclosed.

Strategically located near the Ports of Los Angeles and Long Beach, the property features direct access from several major streets and has three rail spurs/side tracks on site. The property is currently 60 percent leased. Hager Pacific has commenced the first phase of renovation at the site and will offer approximately 45,000 square feet of buildings on 4 acres of land for immediate lease.

“Despite the risk profile of this investment, the strategic location of this asset in an area of strong demand surrounded by high quality industrial and retail product makes this a tremendous acquisition for our firm,” said Managing Partner of Hager Pacific, Rob Neal.  “We look forward to repositioning this property in incremental stages throughout the next decade.”

Hager Pacific also recently acquired a 16,698-square-foot industrial building in Mission Viejo for $1.5M. The firm closed escrow on the property within 15 business days of entering into contract. Hager Pacific Properties owns and manages nearly 100 properties located in major metropolitan markets across the nation valued in excess of $1 billion.

Ashley Dillard of CB Richard Ellis in Chicago managed the sale of the Torrance property. The leasing of the asset is being handled by Jeff Smart and Chuck Littell of Colliers.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through repositioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific self-funds its real estate deals without outside capital.  The company’s portfolio consists of more than 100 assets ranging in size from 25,000 to more than 1 million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 11 million square feet of industrial, retail and commercial properties and 2,300 apartment units valued at more than $1 billion. For more information about Hager Pacific, please visit www.hagerpacific.com.

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19 Mar 2012

Hager Pacific Properties Closes Acquisition In Mission Viejo

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Newport Beach, Calif. – March 19, 2012 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in Southern California, has acquired a 16,698- square-foot industrial building located in Mission Viejo, Calif. The firm purchased the property for more than $1.5 million dollars from a private party and closed escrow within 5 days of removing contingencies.

"This functional building is well located in the desirable HighPark Business Complex in Mission Viejo making it a attractive location for a small firm," said Rob Neal, a managing partner with Hager Pacific Properties. "The Orange County market continues to provide us with opportunities to leverage our strong cash position to acquire properties that can produce excellent yields."

Located at 26021 Pala Drive, the property is situated off Jeronimo Rd., between Alicia Parkway and Los Alisos Blvd. It benefits from close proximity to the San Diego (I- 5) Freeway.

Notable features include three 12' x 16' ground level doors, 12,359 square feet of office space and 4,339 square feet of shop space.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific self-funds its real estate deals without outside capital. The company’s portfolio consists of more than 100 assets ranging in size from 25,000 to more than 1 million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 11 million square feet of industrial, retail and commercial properties and 2,300 apartment units valued at more than $1 billion.

For more information about Hager Pacific, please visit www.hagerpacific.com.

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30 Dec 2010

Hager Pacific Properties Acquires Carson Industrial Property

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Hager Pacific Properties Closes Acquisition in Carson

Hager Pacific Properties (HPP), one of the lamest privately owned real estate investment firms in Southern California, has acquired an industrial property at 1906 E. Dominguez Street in Carson, California from Carlisle Companies. Jeffery. Morgan and Lynn Knox of CB Richard Ellis represented both the Buyer and the Seller in this transaction.

Located one block east of the intersection of East Dominguez Street and Wilmington Avenue, the property consists of approximately 117,234 square feet offenced and paved yard improved with a 65,064 square foot manufacturing building. The property is well situated approximately 34{# of a mile north ofthe San Dieu Freeway (405) and 1 1 miles west of the Long Beach Freeway (710).

HPP purchased the Dominguez property on an all cash basis and closed 3 days after the completion of its due diligence. As always, we see our ability to close quickly and on an all cash basis as a unique strength," said Hager Pacific Properties' Principal Jason Schirn.

Hager Pacific has an active exchange requirement of $40 million and is actively acquiring industrial property in Southern California and is looking for properties priced at $3 million and greater 1906 E. Dominguez marks the sixth acquisition in Southern California that HPP has completed in the past 15 months.

Jason Schirn
818.461.9378
Rob Neal
949.253.7920

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17 Nov 2010

Hager Pacific Properties Appoints Jason Schirn As Principal

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Los Angeles – November 17, 2010 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in Southern California, has added Jason Schirn to the firm as a Principal. He will be responsible for identifying value-added opportunities for industrial properties and supervising the repositioning of these assets.

"Jason is a proven value creator with an impressive track record of acquiring and repositioning industrial properties," said Rob Neal, a managing partner with Hager Pacific Properties. "We are very pleased to add him to our senior management team."

Since the fall of 2009, Hager Pacific and Schirn have worked together to acquire several Southern California industrial properties. Similar to most transactions completed by Hager Pacific, these deals were closed in a rapid time frame and without a financing contingency.

"In 2009, when the real estate market was truly paralyzed, Hager Pacific demonstrated its financial strength and long-term commitment to the Southern California industrial real estate market by closing deals when there were few other buyers," said Jason Schirn. "I am honored to make this partnership official."

About Jason Schirn

Schirn began his real estate career in 2001 with Hager Pacific where the firm's three partners educated him on the company's unique investment approach. From 2003-2008, Schirn served as Vice President at Proficiency Capital where he received valuable experience developing and renovating industrial properties. In total, Schirn has played an instrumental role in the acquisition of more than $100 million of industrial real estate in the Southern California market place during his career.

Prior to his real estate career, Schirn produced ESPN's Cable Emmy Award winning program Up Close Prime Time with Roy Firestone. Schirn earned his Bachelor's degree from the University California Los Angeles (UCLA) and an MBA from Harvard University.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific self-funds its real estate deals without outside capital. The company's portfolio consists of more than 100 assets ranging in size from 25,000 to more than 1 million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 10 million square feet of industrial properties and 2,300 apartment units valued at more than $1 billion.

For more information about Hager Pacific, please visit www.hagerpacific.com.

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13 Jul 2010

Hager Pacific Properties Acquires La Mirada Industrial Building

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July 13, 2010 - Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in Southern California, continued its recent buying spree by acquiring 14821 Artesia Boulevard in La Mirada, California. HPP completed its due diligence in just 10 days and closed 5 days later.

Located near the intersection of Artesia Boulevard and the 5 Freeway, the property consists of approximately 90,000 square feet on 3.6 acres of land. Built in 1989, the building has an attractive combination of a modern clear height which appeals to distributors and significant power capacity required by manufacturers. HPP plans on repositioning the vacant building by adding loading docks to the property, upgrading the corporate office area,
renovating landscaping and replacing the roof.

Jeff Huberman and Jason Woods of Lee & Associates will be marketing the property.

The deal marks HPP's fifth all-cash acquisition of a Southern California industrial property in the last nine months. "We are proud of the firm's ability to close quickly and on an all cash basis" said HPP Managing Partner Rob Neal.

Hager Pacific Properties is actively acquiring industrial property in Southern California priced at $3 million and greater.

About Hager Pacific

With several offices in Southern California, Hager Pacific Properties is a real estate investment firm guided by a value-added investment philosophy. HPP self-funds its real estate deals without outside capital and has created a portfolio consisting of nearly 100 assets ranging in size from 25,000 to over one million square feet. The portfolio features a wide variety of product types including warehouses and industrial facilities, office buildings, multi-family properties and community shopping centers. The total portfolio consists of 10 million square feet of industrial/commercial properties and 2,300 apartment units valued in excess of $1 billion. For additional information about HPP, please visit www.hagerpacific.com.

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08 Apr 2010

Hager Pacific Properties Closes Acquisition In Carson

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April 8, 2010 - Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in Southern California and Socal Industrial Partners, an emerging Los Angeles based real estate investor, have acquired a property at 21222 S. Wilmington Avenue in Carson, California from Harsco Corporation. Frank Hillebrand and John Lassiter of Lee & Associates represented both the Buyer and the Seller in this transaction.

Located at the corner of Wilmington Avenue and 213th Street, the property consists of approximately 230,000 square feet of fenced and paved yard with a 23,600 square foot office and warehouse building. The property is well located approximately ¾ of a mile north of the San Diego Freeway and is currently occupied by Patent, a subsidiary of Harsco Corporation. Patent will have a short term leaseback of the property and HPP is marketing the property for lease through Lee & Associates.

This is the fourth large land parcel HPP has purchased since November totaling over 30 acres of land for approximately $25 million. These acquisitions include properties located in the San Fernando Valley, Downey, and the City of Orange; each located near major freeways.

HPP purchased the Wilmington property on all cash basis and closed 5 days after the completion of its due diligence. "As always, we see our ability to close quickly and on an all cash basis as a unique strength," said Hager Pacific Properties' Managing Partner Rob Neal.

Hager Pacific is actively acquiring industrial property in Southern California and is looking for
properties priced at $3 million and greater.

About Hager Pacific

With several offices in Southern California, Hager Pacific Properties is a real estate investment firm guided by a value‐added investment philosophy. HPP self‐funds its real estate deals without outside capital and has created a portfolio consisting of nearly 100 assets ranging in size from 25,000 to over one million square feet. The portfolio features a wide variety of product types including warehouses and industrial facilities, office buildings, multi‐family properties and community shopping centers. The total portfolio consists of 10 million square feet of industrial/commercial properties and 2,300 apartment units valued in excess of $1 billion.

For additional information about HPP, please visit www.hagerpacific.com.

Robert Neal
Managing Partner
Hager Pacific Properties
1500 Quail Street
Suite 210
Newport Beach, CA 92660
Tel.949-253-7920

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02 Feb 2010

Hager Pacific Properties Leases 112,500 Square Feet To The King Of Big Screen

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Lease is valued at approximately $3 million and is the Largest Deal Completed in 2010

Newport Beach, Calif. and Dearborn, Mich. – March 2, 2010 – Newport Beach-based Hager Pacific Properties, one of the largest privately owned real estate investment firms in Southern California, has leased a 112,500-square-foot warehouse, office and distribution center in Dearborn, Mich. to Paul's TV, a Southern California-based electronics retailer. The five-year lease is valued at approximately $3 million and is Dearborn's largest 2010 lease to date.

"The facility's warehouse and distribution space will serve as an asset to Paul's TV as it continues its national expansion," said Rob Neal, a managing partner with Hager Pacific.

Known as the King of Big Screen, Paul's TV is located within Living Spaces and Jordan's Furniture retailers throughout Southern California, Massachusetts and New Hampshire.

Located at 15080 – 15090 North Commerce Drive in Fairlane Commerce Park North, Paul's TV will benefit from the facility's central Dearborn location. Fairlane Commerce Center provides immediate access to the Detroit Industrial Expressway, the Southfield Freeway and U.S. Route 12.

Randall Allman of CB Richard Ellis represented Hager Pacific and Marty Seltzer of Core Real Estate Services, LLC represented Paul's TV.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties (HPP) is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, HPP self-funds its real estate deals without outside capital. The company's portfolio consists of more than 100 assets ranging in size from 25,000 to over one million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 10 million square feet of industrial properties and 3,000 apartment units valued at $1 billion.

For more information about Hager Pacific, please visit www.hagerpacific.com.

About Paul's TV

Paul's TV is a retailer of big screen TVs, home theater systems, furniture and accessories and a distributor of major brands including Mitsubishi, Panasonic, Samsung, LG, Bose, Yamaha and Panasonic. The retailer's first Los Angeles location was founded 45 years ago. Since the 1978 introduction of the big screen TV, Paul's TV has expanded to locations throughout Southern California, Massachusetts and New Hampshire.

For additional information, please visit http://www.paulstv.com/index.php.

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22 Oct 2009

HPP Closes Aquisition Of 3 Truck Terminals

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October 22, 2009 – Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in Southern California, has acquired three cross-docked truck terminals totaling 233 doors on more than 25 acres of land in Southern California.

Located in the cities of Orange, Downey and Sun Valley, the properties all fill key segments in the logistics industry of the southland. Each property will be leased backed for a minimum of 10 years by YRC Worldwide, Inc. SoCal Industrial Partners, LLC provided key acquisition and due diligence assistance to HPP during the transaction.

Utilizing its own capital without financing contingencies, HPP was able to complete due diligence in two weeks and close just two weeks later.

The Orange property contains 95 docks on 9 acres and is within view of Anaheim Stadium.

  • The Downey terminal has 71 positions on 7 acres and is within 1 mile of both the 605 and 110 freeways.
  • The Sun Valley asset is less than a mile from I-5, in the heart of the San Fernando Valley market, with 67 doors on more than 9 acres.

"We see our ability to act quickly and decisively in the current market as a unique strength," said Hager Pacific Properties' managing partner Rob Neal. "These assets are mission critical and valuable for YRC and the transportation industry."

YRC Worldwide Inc., a Fortune 500 company and one of the largest transportation service providers in the world, has the most comprehensive network in North America with local, regional, national and international capabilities. YRC offers industry-leading expertise in heavyweight shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence.

About Hager Pacific

With several offices in Southern California, Hager Pacific Properties is a real estate investment firm guided by a value-added investment philosophy. HPP self-funds its real estate deals without outside capital and has built a portfolio of almost 100 assets ranging in size from 25,000 to over one million square feet. The portfolio features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 10 million square feet of industrial/commercial properties and 3,000 apartment units with a combined value of more than $1 billion.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

HPP IS ACTIVELY ACQUIRING INDUSTRIAL PROPERTY IN SOUTHERN CALIFORNIA

Robert Neal
Managing Partner
Hager Pacific Properties

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21 Jul 2009

Los Angeles, California And Sandy, Utah – David Hager, Adam Milstein, Rob Neal Of Hager Pacific Properties Lease To Vangent, Inc.

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131,000-Square-Foot Building Owned by Managing Partners David Hager and Adam Milstein

Los Angeles and Sandy, Utah – July 21, 2009: Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in California, has leased a 131,000-square-foot office space in Sandy, Utah, just South of Salt Lake City, to Vangent, Inc. The lease represents the largest office lease yet to be executed in 2009 in terms of square footage in the Salt Lake City market and is valued at approximately $2.2 million dollars per year.

Vangent, a leading global provider of information management and strategic business process outsourcing solutions, will lease the office space for a 2010 US Census call center.

"The commercial real estate market in Salt Lake City remains strong with low vacancy rates and increasing leasing activity," said Rob Neal, HPP managing partner. "The property allows the entrance of a leading global company into the local market bringing over 1200 jobs to Sandy."

The property, situated on 14-acres, is located at 8475 Sandy Parkway, in close proximity to Interstate 15 and the Utah 209.

Chris Kirk and Todd McLachlan of Commerce CRG represented HPP and Mark Larsen and Dan Brenan of Larsen Commercial Real Estate Services, Inc. represented Vangent.

About Hager Pacific

With offices in Los Angeles and Orange County, Hager Pacific Properties (HPP) is a real estate investment firm guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Managed by David Hager, Adam Milstein and Rob Neal, the firm's investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, HPP self-funds its real estate deals without outside capital. The company's portfolio consists of almost 100 assets ranging in size from 25,000 to over one million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The portfolio consists of 10 million square feet of industrial, office and retail properties and 3,000 apartment units valued at a total of $1 billion.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

About Vangent, Inc.

Vangent, Inc. is a global provider of consulting, systems integration, human capital management, and business process outsourcing services to the U.S. Federal and international governments, higher education institutions, and corporations. Vangent's 6,000 employees support clients including the Centers for Medicare & Medicaid Services, the U.S. Departments of Defense, Education, Health and Human Services, and Labor; and the U.S. Office of Personnel Management, as well as Fortune 500 companies. Headquartered in Arlington, Virginia, the company has offices throughout the U.S. and in the U.K., Canada, Mexico, Venezuela, and Argentina.

For more information, visit www.vangent.com.

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22 Jun 2009

Los Angeles And Ontario, California – David Hager, Adam Milstein, Rob Neal Of Hager Pacific Properties Lease To Kim Lighting

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108,703-Square-Foot Building Owned by Managing Partners David Hager and Adam Milstein

Los Angeles and Ontario, California – June 22, 2009 – Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in Southern California, has leased a 108,703-square-foot office/industrial property in Ontario, Calif., to Kim Lighting, a division of South Carolina-based Hubbell Lighting, Inc. The five-year lease renewal is valued at nearly $2.8 million.

Kim Lighting will use the facility to manufacture high-performance, architecturally relevant, outdoor lighting solutions for commercial, industrial, residential and institutional clients.

"Kim Lighting will benefit from the property's prime strategic location and abundant space for product development and storage," said Hager Pacific Properties' managing partner Rob Neal. "The facility will serve as an asset to Kim as it expands its diverse customer base."

The Ontario space is located at 2400 East Francis Street and is in close proximity to Ontario International Airport, Route 60, Interstate 10 and Interstate 215.

About Hager Pacific

With offices in Los Angeles and Orange County, Hager Pacific Properties (HPP) is a real estate investment firm guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Managed by David Hager, Adam Milstein and Rob Neal, the firm's investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, HPP self-funds its real estate deals without outside capital. The company's portfolio consists of almost 100 assets ranging in size from 25,000 to over one million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 10 million square feet of industrial properties and 3,000 apartment units valued at $1 billion.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

About Hubbell Lighting, Inc.

Hubbell Lighting is a leader in lighting technology and customer service. For over 100 years, Hubbell has excelled at creating products that are technologically advanced and achieve the highest levels of performance in the industry. Headquartered in Greenville, South Carolina, it ranks among the top lighting companies in the world, with the support, creativity and enthusiasm to continue designing and delivering the most advanced commercial, outdoor, industrial, hazardous location, controls, emergency and exit, and downlighting and track lighting systems available anywhere.

For additional information, visit www.hubbelllighting.com.

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16 Mar 2009

Hager Pacific Properties Announces Lease To Triview Glass In Industry, CA

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Newport Beach, CA – March 16, 2009 – Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in Southern California, has leased a 48,228-square-foot industrial property to Triview Glass, Inc., a state-of-the-art glass fabrication, sales and distribution firm. The five year lease is valued at more than $1.6 million. The building is located at 711 S. Stimson Avenue in the City of Industry, Calif.

The property was renovated in 2008 and is part of a two building industrial park located immediately off the 60 freeway. The second 18,000-square-foot building is also available for lease

Jack Cline and Peter Bacci of Lee & Associates represented both Hager Pacific and Triview Glass in the transaction.

About Hager Pacific Properties

As a real estate investment firm, Hager Pacific Properties (HPP) is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, HPP self-funds its real estate deals without outside capital. The company's portfolio consists of more than 100 assets ranging in size from 25,000 to over one million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 12 million square feet of industrial properties and 3,000 apartment units valued at $1.5 billion.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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26 Sep 2007

Hager Pacific Properties Acquires Industrial Facility In Central Pennsylvania

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Acquisition gives Hager Pacific Properties over 2.3 million feet in the greater Harrisburg and York, Pennsylvania markets

Newport Beach, CA – September 26, 2007 – Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in Southern California, has acquired a 112,500-square-foot, free-standing industrial building in York, Pennsylvania for approximately $5 million. Starbucks Corporation has occupied 100 percent of the building since 2004. With this purchase, HPP now owns over 2.3 million feet, contained in 12 separate industrial properties in the greater Harrisburg and York, Pennsylvania markets.

"We are always looking to expand our portfolio in central Pennsylvania," said Adam Milstein, a managing partner of Hager Pacific Properties. "The greater Harrisburg market is one of the most sought after distribution hubs in the eastern United States, with access to over 100 million people within a one day truck haul."

Located at 3380 Susquehanna Trail in York, the building is situated on 10.6 acres with immediate access to Interstate 83. The property is a superb distribution facility with ample room for truck loading, trailer storage and circulation.

John Van Buskirk of NAI/Commercial Industrial Realty Company represented both the buyer and the seller in this transaction.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties (HPP) is guided by a value-added investment philosophy implemented through the acquisition of underperforming, aged or environmentally impacted real estate. Its investments have become more valuable through repositioning, renovation or reuse of the property. The preferred buyer of challenging properties, HPP self-funds its real estate deals without outside capital. The company's portfolio consists of almost 100 assets ranging in size from 25,000 to over one million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 12 million square feet of industrial properties and 3,000 apartment units valued at $1.5 billion.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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09 Aug 2007

Hager Pacific Properties Acquires Industrial Facility In Anaheim, CA

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Newport Beach, CA – August 9, 2007 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in Southern California, has acquired a 65,000-square-foot, free-standing industrial building in Anaheim, CA for approximately $6 million. Expo Dyeing and Finishing, Inc., a textile dyer, has occupied the building since 1987 and will continue to operate in the property under an existing long term
lease.

"We are always looking to expand our portfolio in Southern California" said Robert Neal, a Managing Partner of Hager Pacific Properties. "Anaheim is a terrific small building industrial market and while the property is well suited to the existing tenant’s needs, the building design can accommodate a variety of potential users."

Located at 1365 N. Knollwood Circle, the building is situated on 3 acres and partially fronts the interchange between the 5 and 91 freeways. The property has a clear height of 21' feet and boasts a Waste Water Discharge Permit of 1.2 million gallons per day.

Jeff Demorest of GVA Daum Commercial represented the Buyer and Troy Williams of Grubb & Ellis represented the Seller. Bruce Krall of Cohen Financial arranged the financing which was provided by the Principal Life Insurance Company.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific Properties self-funds its real estate deals without outside capital. The company’s portfolio consists of almost 100 assets ranging in size from 25,000 to over one million square feet and features a wide variety of product types including office buildings, research and development complexes,
apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 12 million square feet and 3,000 apartment units valued at $1.5 billion.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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08 Aug 2007

Hager Pacific Properties Announces 15-Year Lease Extension Of Stater Bros Corporate Facility Totaling Approximately $35 Million In Lease Consideration

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Los Angeles, CA – August 8, 2007 – Hager Pacific Properties (HPP), one of the largest privately owned real estate investment firms in Southern California, announces the 15 year extension of the 788,000-square-foot lease for the Stater Bros. corporate headquarters in Colton, California. The lease deal is valued in excess of $35 million.

The Stater Bros. facility, located at 21700 Barton Road in Colton, California has been the corporate home of the company for more than 40 years. The 788,000-square-foot Colton campus includes corporate office, dry goods warehousing, freezer and food produce buildings.

"We are delighted that Stater Bros. has decided to extend the term of the lease" said Adam Milstein, a managing partner of Hager Pacific Properties. "We understand that Stater Bros. will be subleasing the campus once they relocate to their new headquarters currently under construction at the former Norton Air Force Base in San
Bernardino, Calif."

The Stater Bros. campus sits on 50 acres. HPP owns an additional 7 acres of vacant land at this location that is not part of the Stater Bros. leased premises. HPP has announced that this 7 acre site will be developed with approximately 140,000 square feet of state-of-the art distribution space.

"This location on the 215 freeway is outstanding and our new building will provide easy access to all of Los Angeles and the Inland Empire" said Rob Neal, a managing partner with HPP.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific Properties self-funds its real estate deals without outside capital or financing. The company’s portfolio consists of more than 100 assets ranging in size from 25,000 to over one million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. The total portfolio consists of 12 million square feet and 3,000 apartment units valued at $1.5 billion.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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19 Sep 2006

Hager Pacific Properties Acquires Manufacturing Facility In Downey, California

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Newport Beach, CA – September 19, 2006 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in California, has acquired a 90,000-square-foot industrial facility in Downey, CA for approximately $5 million in cash. Regent Manufacturing, Inc., an aviation manufacturer, has occupied the building since the 1960's, and will vacate the property in November.

"We are always looking to expand our portfolio in Southern California" said Robert Neal, a managing partner of Hager Pacific Properties. "The divisible layout, excess land for storage, and infill location made this property an outstanding acquisition."

Located at 11905 Regentview Avenue, the building is situated on six acres and has direct access to Firestone Boulevard and Interstate 605.

The company plans to implement several re-positioning techniques including the demolition of several property structures, in order to create a highly functional site capable of meeting the needs of a wide array of users.

Rick McGeagh and Laird Perkins of CB Richard Ellis represented the seller, Tregen Corporation. Peter Castleton of Voit Commercial Brokerage represented the buyer.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific Properties self-funds its real estate deals without outside capital or financing. The company’s portfolio consists of more than 100 assets ranging in size from 25,000 to over one million square feet and features a wide range of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. In August, Hager Pacific announced the acquisition of the 734 unit Tree Crest Apartments in Atlanta, GA for $39 million and the acquisition of the $11 million Fairlane Commerce Park portfolio in Dearborn, MI.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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28 Aug 2006

Hager Pacific Properties Acquires Five-Building Portfolio In Dearborn, Michigan

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Due diligence completed in 15 days

Newport Beach, CA and Detroit – August 28, 2006 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in California, has announced its second major acquisition in the greater Detroit market, purchasing a portfolio of five buildings located in the Fairlane Commerce Park North in Dearborn, Michigan. The company acquired the properties for approximately $10 million. Totaling 190,000 square feet, the buildings are located at 15080, 15090 and 15201 Commerce Drive North and at 15200 and 15100 Mercantile Drive, in close proximity to the Ford Motor Company world headquarters.

Hager Pacific and its partner in Detroit, Sterling Group, valued the property's quality upgrades and national tenants. Ford Motor Company occupies two of the buildings and a third is occupied by Penske Logistics.

"We are very pleased to expand our portfolio in the greater Detroit area," said Adam Milstein, managing partner of Hager Pacific Properties. "We see significant potential here and are confident that the area will continue to grow as the domestic auto business begins its recovery."

The Fairlane Commerce Center matches Hager Pacific Properties' acquisition criteria, which focuses on acquiring under-utilized properties in competitive markets. The company plans on renovating two vacant properties located on Mercantile Drive then completing the lease-up of the buildings and placing permanent financing on the property.

Hager Pacific Properties completed the underwriting process in just 15 days. Detroitbased property owner Sterling Group will serve as property manager.

William Bubniak and Paul DeBono of Detroit-based NAI Farbman represented both the buyer and the seller.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific Properties self-funds its real estate transactions without outside capital or financing. The company’s portfolio consists of more than 100 assets ranging in size from 25,000 to over one million square feet and features a wide range of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities, including the December 2005 purchase of the 1.2 million-square foot Gateway Industrial Center in Detroit. Hager Pacific Properties recently announced the acquisition of the $50 million Levitt Office portfolio with properties in Chicago, Dallas and Salt Lake City and the $90 million Arnold Portfolio industrial acquisition in Harrisburg, PA.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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02 Aug 2006

Hager Pacific Properties Acquires Central Pennsylvania Portfolio For $90 Million

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Los Angeles – August 2, 2006 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in California, has acquired a Portfolio of eleven singletenant, NNN industrial buildings for approximately $90 million from a venture between Blue Vista Sponsor Equity Fund, LLC and an affiliate of Walton Street Real Estate Fund IV,LP. The portfolio properties are located in Central Pennsylvania and total 2.2 million square feet. This purchase marks Hager Pacific Properties’ entrance into this market.

"This acquisition provided the opportunity to acquire a well-leased, critical mass of quality properties in one of the most sought after distribution hubs in the eastern United States," said Rob Neal, managing partner of Hager Pacific Properties. "Located on the I-81/78 corridor, the properties are within one day’s drive of more than 50 percent of the U.S. population."

The properties are situated on 109 acres of land and serve as the corporate headquarters for Arnold Logistics, LLC, a leading third party logistics firm that provides various value-added services to some of the largest companies in the U.S.

"The Camp Hill, Mechanicsburg and Lancaster areas of Central Pennsylvania have been rapidly attracting businesses from other metropolitan markets due to their highly skilled but affordable labor pool, quality of life and access to major eastern population centers," said Adam Milstein, managing partner of Hager Pacific Properties.

Jim Vesey, Senior Director of Cushman & Wakefield in Philadelphia, PA, represented both the seller and the buyer in this transaction.

Hager Pacific owns properties in California and the Midwest and is currently investing $300 to $400 million in commercial real estate throughout major metropolitan markets nationwide.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific Properties self-funds its real estate transactions without outside capital or financing. The company's portfolio consists of more than 100 assets ranging in size from 25,000 to over one million square feet and features a wide range of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities, including the December 2005 purchase of the 1.2 million-square foot Gateway Industrial Center in Detroit. In June, Hager Pacific Properties acquired the Atlanta Garden Ridge Portfolio for $18.5 million and recently announced
the acquisition of the $50 million Levitt Office portfolio with properties in Chicago, Dallas and Salt Lake City.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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01 Aug 2006

Hager Pacific Properties Acquires Atlanta Apartment Community For $39 Million

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Los Angeles – August 1, 2006 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in California, has acquired Tree Crest Apartments, located in the Atlanta suburb of Decatur, for $39 million. The 734-unit property was purchased from Atlanta-based Wilwat Properties in a joint-venture with New York-based Collins Group LLC. The property is Hager Pacific Properties' second major acquisition in Atlanta.

"The Decatur suburb of Atlanta has grown by almost 90 percent in the last 10 years, making the Tree Crest Apartments an appealing investment,” said Adam Milstein, managing partner of Hager Pacific Properties. “We believe that this market will continue to demonstrate long term growth."

Constructed in 1990, the apartment complex underwent extensive renovations in 2004, which included complete roof replacement, as well as new exteriors. Located at 4946 Snapfinger Road,, the complex is situated in close proximity to Interstate 20 and Interstate 285.

Encompassing approximately 65 acres, Tree Crest Apartments includes one and two bedroom apartments and townhouses. One bedroom units range in size from 550 square feet to 885 square feet and two bedroom units range from 1,060 to 1,354 square feet. Community amenities include a fitness center with an indoor pool, heated whirlpool spa, tennis courts, and two indoor racquetball courts.

David Gutting and the Apartment Group of Cushman & Wakefield represented both the Buyer and the Seller in this transaction.

Hager Pacific owns properties in locations throughout the United States and is currently investing $300 to $400 million in commercial real estate in major metropolitan markets nationwide.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific Properties self-funds its real estate transactions without outside capital or financing. The company’s portfolio consists of more than 100 assets ranging in size from 25,000 to over one million square feet and features a wide range of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities. In June, Hager Pacific Properties acquired the Atlanta Garden Ridge Portfolio for $18.5 million and recently announced the acquisition of the 11-building Arnold Portfolio, which it acquired in Lehigh Valley, PA for $90 million.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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18 Jul 2006

Hager Pacific Properties Acquires Levitt Properties Portfolio For $48 Million

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Los Angeles – July 18, 2006 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in Southern California, has acquired a Portfolio of three single-tenant, national credit NNN office buildings from Levitt Properties Trust for $48 million. The portfolio properties are located in the Salt Lake City, Chicago, and Dallas metropolitan areas and total 490,000 square feet. This acquisition marks Hager Pacific Properties' entrance into all three real estate markets.

"Even though the leases were short term, the high cap rate and below replacement values made the Levitt Properties Portfolio an appealing acquisition," said Adam Milstein, managing partner of Hager Pacific Properties. "The properties are located in three markets that are experiencing significant growth and leasing activity, which we believe will continue to remain strong."

The Utah building located at 8475 South Sandy Parkway in the Sandy, the Salt Lake City metropolitan area, is situated on 14-acres. Discover Card occupies the 128,000-square-foot building, which is utilizes as a service center. The building is in close proximity to Interstate 15 and the Utah 209.

The 19-acre Bourbonnais, IL property is located at the intersection of Interstate 45 and Indian Oak Road, 62 miles south of Chicago. The property is in close proximity to Interstate 57 and is part of the Kankakee County metropolitan area. The 153,000-square-foot building's tenant is Cigna Healthcare, a provider of health-benefit programs serving 45 states, Washington D.C., and Puerto Rico. This property serves as the company's regional service center.

The 209,000-square-foot Farmers Branch building is located at 1801 Valley View Lane, within the Dallas metropolitan area. The 14-acre property is occupied by Cingular Wireless' Farmers Branch service center, the largest provider of advanced mobile wireless voice and data communications in the United States. The property is adjacent to LBJ - Interstate 635 and Interstate 35 East.

Ted Gibbons, president of Investment Realty Advisors in Belleview, WA, represented both the buyer and seller in this transaction.

Hager Pacific owns properties in California and the Midwest and is currently investing $300 to $400 million in commercial real estate throughout major metropolitan markets nationwide.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific Properties self-funds its real estate deals without outside capital or financing. The company’s portfolio consists of more than 85 assets ranging in size from 25,000 to over one million square feet and features a wide range of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities, including the December 2005 purchase of the 1.2 million-square foot Gateway Industrial Center in Detroit. In June, Hager Pacific Properties acquired the Atlanta Garden Ridge Portfolio for $18.5 million.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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31 May 2006

Hager Pacific Properties Acquires Atlanta Garden Ridge Portfolio For $18.5 Million

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Los Angeles – May 31, 2006 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in Southern California, has acquired the Garden Ridge Portfolio from a trust in which CW Capital Asset Management LLC is the special servicer, for $18.5 million. The portfolio consists of two properties north of Atlanta, each home to a 142,000-square-foot Garden Ridge home décor and crafts outlet store. Garden Ridge has 35 locations in 13 states throughout the Southeast and Midwest. This acquisition marks Hager Pacific Properties’ entrance into the Atlanta real estate market.

"Finding markets with significant leasing activity is fundamental to our overall investment strategy," commented Adam Milstein, managing partner of Hager Pacific Properties. "Atlanta's leasing activity is comparable to the Orange County and San Diego sub-markets and we believe that it will continue to remain strong."

The buildings are located in Kennesaw and Norcross, approximately 15 miles north of downtown Atlanta. Each building totals 142,000 square feet, and each is situated on 12 acres of land. The Kennesaw building is located at 2875 George Busbee Parkway, adjacent to the I-75. The Norcross building is adjacent to the I-85, located at 1887 Willowtrail Parkway. Close proximity to these major highways provides excellent visibility for both locations.

Brandon Beeson, vice president of investment services at the PM Realty Group's Dallas office, represented the seller in this transaction, while the Buyer, represented itself. Michael McGregor, vice president for CWCapital Asset Management LLC handled the transaction for the seller.

Hager Pacific owns properties in California and the Midwest and is currently investing $300 to $400 million in commercial real estate throughout major metropolitan markets nationwide.

About Hager Pacific

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate. Its investments have become more valuable through re-positioning, renovation or reuse of the property. The preferred buyer of challenging properties, Hager Pacific Properties self-funds its real estate deals without outside capital or financing. The company's portfolio consists of more than 85 assets ranging in size from 25,000 to over one million square feet and features a wide range of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities, including the December 2005 purchase of the 1.2 million-square foot Gateway Industrial Center in Detroit. In February, Hager Pacific Properties sold the 850,000-square-foot Los Angeles Baldwin Hills Crenshaw Plaza for $130 million.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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24 Aug 2005

Hager Pacific Properties Acquires 800,000 Square Foot Stater Bros. Corporate Campus In Colton, CA

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Newport Beach, CA – August 24, 2005 – Hager Pacific Properties, one of the largest privately owned real estate investment firms in Southern California, announced today the acquisition of the Stater Bros. corporate headquarters and campus, located in Colton, CA, for approximately $30 million all cash. The complex totals more than 800,000 square feet of improvements and is located at 21700 Barton Road, 280 De Berry Street, and 375 De Berry Street, in close proximity to the 215, 60, and 91 freeways, with visibility from the 215 freeway.

The entire property encompasses 50 acres and contains six buildings, including 245,000 square feet of freezer/cooler space. The Stater Bros. campus also features 500,000 square feet of high bay warehouse distribution space and 55,000 square feet of office space.

The property is leased to Stater Bros. through 2008, when Stater Bros. is planning to move to its new headquarters currently under construction at the former Norton Air Force Base. At that time, Hager Pacific Properties plans to redevelop the campus, providing a variety of building options for sale or for lease, as well as offering several vacant parcels of land for sale and/or build to suit. These options should prove attractive to companies looking for a prime location with freeway access and visibility.

"This location is ideally situated for future redevelopment in the rapidly growing Inland Empire East Market," commented Robert Neal, executive vice president of Hager Pacific Properties. "The market is mature enough that older, renovated buildings will be welcomed as a low-cost alternative to newly constructed properties."

He added, "The type of building product found on the Stater Bros. campus is extremely costly to build – particularly the freezer and cooler facilities – which make the property even more attractive to companies looking to capitalize on the tremendous growth this area has experienced in recent years."

The corporate campus is located in the growing Inland Empire east sub-market that includes the cities of Rialto, Colton, San Bernardino, Moreno Valley, Perris, and Riverside, and has recently emerged as an important component to the region's job growth.

The area has continued to grow around the City of Colton, located between the cities of San Bernardino and Riverside, reflecting a wider variety of housing and business opportunities. Colton is also one of the few municipalities to have its own public utilities company, providing electric, water, and waste water service to property owners within the city.

Chuck Belden and Barry Gail of Cushman & Wakefield, and Janine Padia of JP Realty Services represented the buyer and seller.

About Hager Pacific

A partnership led by David Hager, Adam Milstein and Robert Neal, Hager Pacific Properties is guided by a contrarian investment philosophy implemented through the acquisition of under-valued real estate. Their investments become more valuable through the repositioning, renovation or reuse of the property. Hager Pacific Properties is the preferred buyer of challenging properties, and self-funds their real estate deals without outside capital or approvals. The company's current portfolio consists of over 100 properties totaling more than 8 million square feet and features a wide range of product types including office buildings, warehouses, industrial facilities, research and development complexes, apartment buildings, and community shopping centers.

For more information about Hager Pacific Properties, please visit www.hagerpacific.com.

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