William Harvey “Van” Heflin Jr., the co-founder of Heflin Realty, now Laguna Premier Realty in Laguna Woods, died March 5, 2024, at the age of 93. (Photo courtesy of the Heflin family)
William Harvey “Van” Heflin Jr., the co-founder of Heflin Realty in Laguna Woods, died March 5 at the age of 93.
With family and friends at his side, the longtime businessman died just a month before his 75th wedding anniversary with his wife, Phyllis.
Born April 29, 1930, Heflin moved to California in the early 50s, eventually managing a Woolworth retail store in Los Angeles. It was there that he met Phyllis. Together they moved to Orange County where the couple opened a gift shop called The Coral Tree.
The Coral Tree eventually became a Mother’s Market. The Heflins moved on to more lucrative sales in real estate.
Together they created the husband-and-wife real estate firm, first called Heflin Realty and today Laguna Premier Realty.
Heflin is survived by Phyllis, their children, Van, Brent and Jennifer Heflin and their families, six grandchildren, nine great-grandchildren, and their beloved cat, Lady.
A celebration of life was held Saturday. The family suggests any memorial donations be made to the Christian Women’s Connection of Laguna Woods or The Foundation of Laguna Woods Village.
Ares fund buys industrial complex in Westminster for $64 million
A fund managed by Ares Management recently bought an industrial distribution building spanning 258,506 square feet in Westminster for $64 million, according to public documents.
The campus at 7400 Hazard Ave. on nearly 12 acres was about three-quarters leased when the building traded hands, according to Cushman & Wakefield. The brokerage represented the seller, Clarion Partners.
Jeff Chiate at Cushman said the buyer has an “exceptional mark-to-market opportunity” in leasing the existing vacant unit.
Cushman & Wakefield’s latest market report shows the Orange County industrial market closed out 2023 with a vacancy rate of 2.7%, the tightest market in Southern California.
Colony District apartment building fetches $2.5 million
A seven-unit apartment building in Anaheim’s Colony District recently sold for $2,525,000 or $360,714 per unit, according to CBRE.
CBRE said the unidentified seller was from Alameda County, while the buyer is based in Orange County.
“The buyer was particularly drawn to the property’s attractive features, including its amenity-rich and walkable location, well-designed two-bedroom townhome layouts and solid 1980s construction,” said Amanda Fielder, an associate at CBRE.
The 39-year-old, 6,500-square-foot building at 406 East South St. has individual patios and garage parking.
KSL has new CEO, replacing Dalecio
Irvine-based KSL Resorts has replaced its chief executive officer and co-founder, Scott Dalecio.
Hospitality veteran Greg Kennealey will now lead the hospitality firm and its 14 properties or assets under management.
Dalecio, who served as CEO for 20 years, will continue as a senior adviser to the firm and executive chairman of Outrigger Resorts & Hotels.
Kennealey, previously principal and head of hospitality at KSL Capital Partners and currently CEO of Mission Hill Hospitality, will oversee the operation, development and strategic direction of KSLR and its resort properties.
Properties under KSL management include properties Vespera Resort on Pismo Beach; Silverado Resort in Napa; Avila Lighthouse Suites at Avila Beach; Pismo Lighthouse Suites and Shore Cliff Hotel, also in Pismo Beach; Paso Robles Inn and The Piccolo in Paso Robles.
Sperry Commercial shortens to SPERRY
Sperry Commercial Global Affiliates in Irvine is shortening its name to simply SPERRY.
The commercial real estate firm’s international operations and future expansion will be named SPERRY Global.
“The new name reflects not only the industry in which we operate but takes our increasingly competitive and diverse brand and positions us in a more relevant and competitive way,” said Mark Hinkins, president at SPERRY.
The real estate roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submit items and high-resolution photos via email to sgowen@scng.com. Please allow at least a week for publication. All items are subject to editing for clarity and length.