{"id":1004117332,"date":"2015-04-10T09:02:36","date_gmt":"2015-04-10T17:02:36","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=340024"},"modified":"2022-12-06T05:27:16","modified_gmt":"2022-12-06T13:27:16","slug":"pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/","title":{"rendered":"PennySaver HQ in Brea Acquired by Intercontinental Real Estate Corporation"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>The current headquarters of PennySaver USA Publishing LLC recently traded hands in a deal arranged by real estate company HFF. The property is located in the North Orange County Brea\/La Habra submarket, southeast of Los Angeles. The selling entity, a joint venture between Cohen Asset Management Inc. and American National Insurance Company, was represented by HFF.<\/p>\n<p>Buyer Intercontinental Rea<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/04\/2830-Orbiter-Street.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-340137\" title=\"2830 Orbiter Street\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/04\/2830-Orbiter-Street.jpg\" alt=\"\" width=\"300\" height=\"215\" \/><\/a>l Estate Corporation acquired the property free and clear of existing debt for a total of $14 million. The HFF investment sales team working on the deal was led by Senior Managing Director Anthony Brent and Managing Director Ryan Martin.<\/p>\n<p>According to Anthony Brent, \u201cthe investment provided significant inflation adjusted rent growth and stable long-term cash flow.\u201d Brent also noted that the asset\u2019s stability in terms of occupancy and its Brea location meant that the asset was highly sought. The property is an important addition to the buyer\u2019s current SoCal industrial real estate portfolio.<\/p>\n<p>2830 Orbiter Street is a 101,420-square foot corporate headquarters building that sits on a lot totaling 6.59 acres. The property offers a mix of office and industrial space, with 49,351 square feet equipped for manufacturing, assembly and distribution purposes. The only tenant at the property is PennySaver, who occupies the entire asset. The company\u2019s weekly pamphlet, web-based advertising systems and salesforce operations are located at the property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The current headquarters of PennySaver USA Publishing LLC recently traded hands in a deal arranged by real estate company HFF. The property is located in the North Orange County Brea\/La Habra submarket, southeast of Los Angeles. The selling entity, a joint venture between Cohen Asset Management Inc. and American National Insurance Company, was represented by HFF.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[],"class_list":["post-1004117332","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PennySaver HQ in Brea Acquired by Intercontinental Real Estate Corporation - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PennySaver HQ in Brea Acquired by Intercontinental Real Estate Corporation\" \/>\n<meta property=\"og:description\" content=\"The current headquarters of PennySaver USA Publishing LLC recently traded hands in a deal arranged by real estate company HFF. The property is located in the North Orange County Brea\/La Habra submarket, southeast of Los Angeles. The selling entity, a joint venture between Cohen Asset Management Inc. and American National Insurance Company, was represented by HFF.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-04-10T17:02:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T13:27:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/04\/2830-Orbiter-Street.jpg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/\",\"name\":\"PennySaver HQ in Brea Acquired by Intercontinental Real Estate Corporation - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/04\/2830-Orbiter-Street.jpg\",\"datePublished\":\"2015-04-10T17:02:36+00:00\",\"dateModified\":\"2022-12-06T13:27:16+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/#primaryimage\",\"url\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/04\/2830-Orbiter-Street.jpg\",\"contentUrl\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/04\/2830-Orbiter-Street.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pennysaver-hq-in-brea-acquired-by-intercontinental-real-estate-corporation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"PennySaver HQ in Brea Acquired by Intercontinental Real Estate Corporation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\",\"name\":\"Anca Gagiuc\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"caption\":\"Anca Gagiuc\"},\"description\":\"Anca Gagiuc brings more than a decade of experience within the real estate industry. 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