Hager Pacific Properties Purchases Real Property And Notes During September
04 Oct 2012
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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