Tuesday, August 31, 2010

The New Satco Center, A Family Tradition!




History:

Thirty years ago, the site on which the Satco Center was built, housed two residences...one in which a family of five lived, and the other that a prosperous veterinarian from the Midwest practiced his profession. Dr. Sattler, the veterinarian, tasked his son Bob with the job of developing the site into a multi tenant industrial park as Dr. Sattler had decided to sell the practice and develop the land. Bob, having recently graduated from UC Davis, was up to the challenge. Bob used the resources available to him to plan, construct, and lease the new spaces. The anchor of the project was to be the veterinary practice that Dr. Sattler had agreed to part with...the Commonwealth Animal Hospital. The project became the home of several small businesses in Fullerton, California such as Coats Automotive, Golden West Cable, and King Tek, EDM.


A Change:


In 2007, the Sattler family received an unsolicited offer to purchase the property. The family had decided to consider selling the property as Dr. Sattler and his wife had relocated, were advancing in years, and were facing a significant capital outlay to upgrade the project. A purchase was structured that mutually benefited the buyer and the Sattler family and the sale was consummated in early 2008.


Present:

The new ownership, amidst a changing economic climate, spent a significant amount of dollars upgrading the project, refurbishing the units, re-tenanting the project, and outsourcing the management. The project now boasts "the best small industrial units in Fullerton" and has achieved a 90% occupancy. Please see our website at http://www.satcocenter.com/ or stop by and see us at 1953-A West Commonwealth in Fullerton, California!