White Star Buys Corporate Park
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White Star Partners LLC of Newport Beach said Wednesday that it has purchased the La Palma Corporate Park from Aetna Institutional Investors for $15.8 million.
Located on East La Palma Avenue in Anaheim, the industrial center has 18 buildings covering 280,059 square feet. It is 94% occupied, the company said.
White Star, an affiliate of the Koll Cornerstone II joint venture, has a long-term strategy to sell the larger buildings on the property to small businesses, said James Camp, vice president of Cornerstone Ventures Inc., the managing partner of the joint venture. The firm selects property, develops business plans and manages the joint venture’s portfolio.
Brian Malliet, Louis Tomaselli and Chris Loughridge of Voit Commercial Brokerage represented both buyer and seller in the project.
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