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COMMERCIAL REAL ESTATE NEWS
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2 buildings in former Boeing Complex sell for $20 million

Eastside Christian Church purchased the Anaheim Concourse properties from Panattoni Development, says Grubb & Ellis.

By Sara FerrerPublished: April 27, 2011 02:13 PM

Eastside Christian Church has acquired two properties in the Anaheim Concourse that were formerly occupied by The Boeing Co. The buildings at 3330 and 3370 E. Miraloma Ave. were sold by Panattoni Development Co. for $20 million, according to Santa Ana-based Grubb & Ellis, which represented the church in the deal.

Eastside Christian Church will relocate from its current Fullerton property to the new Anaheim location by 2012, and the institution plans to rebuild the properties to make room for its congregation. Improvements call for a 200,000-square-foot, two-story flex building and a 200,000-square-foot, six-story office property.

The location was selected due to its "proximity to major freeways and public transportation," said Grubb & Ellis Executive Vice President and Co-Managing Director Jim McFadden, who represented the church, along with Ryan Gallagher of Holliday Fenoglio Fowler L.P.

“These buildings represented an excellent opportunity for the growing Eastside Christian Church to relocate within close proximity to their Fullerton location and should fulfill the immediate and long-term needs of its congregation,” said McFadden.

Ricky Warner and Mark Friend of CB Richard Ellis represented Panattoni Development Co.

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