Shubin Nadal Associates and Penwood Real Estate Investment Management Purchase Irvine Industrial Property and Announce Lease to Fox Head, Inc.

NEWPORT BEACH, Calif., Jan. 19, 2012 /PRNewswire/ -- A partnership between Shubin Nadal Associates, LLC and Penwood Real Estate Investment Management, LLC announced today the purchase of an industrial property at 16752 Armstrong Ave, Irvine, California, for $7,500,000 from Gershman Properties, LLC. Simultaneously, the partnership announced the signing of a 15-year lease to Fox Head, Inc., for the entire 81,600-square-foot facility.

In an off-market transaction, the Shubin Nadal Associates/Penwood Real Estate Investment Management partnership acquired the 6.4-acre vacant property in the center of the Irvine Business Complex, which is walking distance to the Tustin Legacy Redevelopment project, convenient to the 55, 405 and 5 Freeways, as well as the John Wayne Airport. The partnership will completely rehabilitate the building and grounds to create a state-of-the-art corporate facility for Fox Head, Inc, which will include a "creative office interior design" with open work areas and 20-foot ceilings, abundant natural lighting and operable windows, energy-efficient HVAC, electric vehicle charging stations in the parking lot, drought-resistant native landscaping and a 1.5-acre park area for employee recreation.

Photo: http://www.ereleases.com/pic/2012-Building-Photo.jpg

Fox Head, Inc. is best known for their Action Sports Lifestyle Clothing with its distinctive Fox Head logo. Fox Head will be relocating its present Southern California design and sales operations into the new Irvine campus when it is completed in January 2013.

Shubin Nadal Associates is a partnership based in Newport Beach, California between Shubin Nadal Realty Investors as the managing partner and The Bascom Group, LLC. Real Estate industry veterans Bill Shubin and Lonnie Nadal founded Shubin Nadal Realty Investors to seek opportunistic, value-add real estate investments throughout Southern California, in partnership with institutional partners. The Bascom Group, LLC is a private equity firm specializing in value-added multifamily, commercial, and non-performing loans and real estate-related investments and operating companies. Bascom has completed over $6.3 billion in multi-family and commercial value-added transactions since 1996.

Penwood Real Estate Investment Management is an entrepreneurial real estate investment advisory firm dedicated to managing value-added real estate investments for the institutional market. Formed in 2003, the firm is a registered Investment Adviser based in Hartford, Connecticut. Penwood combines experienced investment management with the local-market expertise of established strategic relationships and a disciplined management process to optimize value for investors. Penwood is currently focused on value-added investments through the construction, redevelopment, reposition, and rehabilitation of industrial property in major seaport markets.

Shubin Nadal Associates/Penwood was represented by Scott Read of Grubb & Ellis Company for both the purchase and the lease to Fox Head. Fox Head, Inc. was represented by Steven Card of Travers Realty. 

For additional information contact Bill Shubin ([email protected]) / Lonnie Nadal ([email protected]) of Shubin Nadal Realty Investors or tel (949) 752-4100.

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SOURCE Shubin Nadal Associates