The Lindquist family, which owned the historic Artz Building in Old Town Tustin for 50 years, sold the property Feb. 20 for $3.5 million.
The building at 140-158 W. Main St. was the longtime home of and Gary’s and Rack Rutabegorz, which closed last year.
Built in 1914 by the son of the city’s founder Columbus Tustin, the building was later leased by Charles O. Artz and would go on to become a local landmark in the quaint downtown.
The Artz Building was vacant at the time of the sale, according to Lee & Associates in Orange. The brokerage represented the Lindquist family and declined to identify the buyer.
Brokers at Lee & Associates said the new owner has three new tenants lined up for the property but declined to say more.
The owner of Rutabegorz, Paul Berkman, told the Orange County Business Journal last year that the Tustin location was the only one he operated in which he didn’t own the building. The company posted a notice on its Facebook page that it was closing Oct. 30.
The OCBJ article stated the lease rate at Rutabegorz was likely doubling from $6,000 monthly, which forced Berkman to close the Main Street location.
Rutabegorz, which features a bevy of menu items that lean into fruits and vegetables, first opened in Fullerton in 1970, followed by Tustin in 1978 and later Old Towne Orange.
Orange Cup contest weighs 8 acres in Anaheim
Two five-person teams of real estate graduate students have been tasked with drawing up a redevelopment plan for an empty chunk of land in Anaheim.
Students from Chapman University and UC Irvine are vying for the Orange Cup in the fifth annual NAIOP SoCal Orange County Real Estate Challenge.
Their task: Evaluate, design and present a plan for roughly 8.3 acres at S. Anaheim Boulevard and Ball Road. The L-shaped land is made up of six separate vacant parcels once used for automotive-related services.
The city’s former Redevelopment Agency bought the land with an eye on “future market-rate development.”
The students, NAIOP SoCal said, are challenged to present a proposal to the city of Anaheim to revitalize the site with a “vibrant mix of new uses that will offer economic benefits and enhance community vibrancy.”
“This is a fantastic showcase for these students as they share their knowledge and expertise to the judges, the city and our audience,” said David Nazaryk, chairman of the NAIOP SoCal OC Real Estate Challenge.
The challenge event begins at 5 p.m. April 15 on the Chapman University campus.
In past years, the Orange Cup has challenged students to conceive redevelopment plans for a blimp hangar in Tustin and the federal Chet Holifield building known as the Ziggurat in Laguna Niguel.
NAIOP SoCal represents nearly 1,300 members and is the leading commercial real estate trade association in Southern California.
MBK Rental sells Duarte apartments
MBK Rental Living in Irvine recently sold Esperanza at Duarte Station, a 344-unit apartment complex in Duarte.
The company did not disclose the sale price or the buyer’s name.
The complex was built in a joint venture of MBK Rental Living and Haseko Corp.
“The community’s proximity to the Metro station and the world‑renowned City of Hope makes it especially attractive for those seeking connection, opportunity and ease. We are seeing this same strong demand at Solana at Duarte Station, reinforcing the long-term appeal of this exceptional market,” said Ken McCarren, president of MBK Rental Living.
The five-story complex at the intersection of Highland Avenue and Fasana Road opened in November 2022. The units are made up of one-, two-, and three-bedroom apartments ranging from 514 to 1,090 square feet with 56 different floor plans.
Amenities include dramatic views of the mountains from the rooftop, which features a pool and spa, cabanas, outdoor TVs and bar, grilling stations, fire pit and lounge area. The roof also bears the weights of a gym complete with free weights, cardio and HIIT zones, and outdoor yoga.
Downstairs, the complex includes a co-working area, a cantina with lounge and counter seating and “Casa de Perro,” an interior pet wash and dry station as well as an exterior dog park with seating.
MBK also owns Solana at Duarte Station and Zia in Anaheim.
Coming up: Blood drive is March 6
The Stephanie Young Group at Coldwell Banker in Newport Beach office is partnering with City of Hope this year for its annual blood drive.
The drive takes place from 9 a.m. to 2 p.m. Friday, March 6 at Highland Park at Portola Springs in Irvine. Donors need to bring a photo ID. Appointments can be scheduled online at idonateblood4hope.org.
“Each year, we look forward to hosting our annual blood drive, which is a simple yet meaningful way our community can come together to support those in need,” said Young.
Address: 12205 Dreamcatcher
On the move
Eric Namisniak has been promoted to director of Architecture at the design firm Ware Malcomb’s Irvine office.
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.
