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Business

Lee & Associates Senior Associate Negotiates $21 Million in Sales to End 2013

Allen Segal
Allen Segal

Lee & Associates, the largest broker-owned commercial real estate firm in the country, has announced that Allen Segal, senior associate in the Los Olivos office, ended 2013 with a bang, closing upwards of $21 million in commercial transactions along the California coast.

“Each of the respective markets where we closed deals, whether they be in the Central Coast region or other areas of Southern California, continue to be burgeoning marketplaces for commercial activity, with increased demand for properties of the industrial or office variety,” Segal said. “We expect these positive trends to gain momentum in 2014 as we continue to explore the most innovative ways to best serve our clients.”

Segal, a 40-year industry veteran in the commercial real estate market, negotiated deals in many of the commercial disciplines including office, industrial and leisure.

His year end transactions included:

» The Park: The $10.6 million sale, located at 1100-1170 Gilbert St. and 2353-2373 La Palma Ave. in Anaheim, involved a 125,000-square-foot office park. Segal represented the seller, Gilbert La Palma LLC. Alan Pikarcik of Avison Young represented the buyer, Rexford International, a publicly owned real estate investment trust, in the acquisition.

» Central Coast Leisure Property: The $7.75 million sale on the Central Coast involved a 20-room hotel, as well as the adjacent restaurant. Segal represented the undisclosed seller.

» Santa Maria Industrial Property: The Central Coast sale, located at 1340 W. Betteravia Road in Santa Maria, featured a 22,599-square-foot industrial property made up of 10,239 square feet of industrial space and 12,360 square feet of office space. Segal represented the buyer, Ziegler Trust, while the seller, Cox PCS Assets LLC, was represented by Hayes Commercial Group.

Segal has been a broker with Lee & Associates since 2005. He was formally with Collins Commercial in Newport Beach and Klabin Company in Los Angeles.

— Samantha Desmond is a publicist with The Hoyt Organization representing Lee & Associates.

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