Real Estate Deals
SALES
Santa Fe Springs-based Accuride International Inc. paid $15 million to the San Francisco division of Australia’s Lend Lease Corp. for a 128,206-square-foot research and development project at 100 to 150 Columbia Drive in Aliso Viejo. The park is 90% full with tenants including the headquarters of RemedyTemp Inc. and Medstone International Inc. Pat Scruggs, Gary Stache, Mark Larson, Ted Snell and Greg Haly of CB Richard Ellis Services Inc. represented both sides.
Overnight courier Overnite Express Inc. paid $4.7 million to 91/15 Business Park LLC for a 51,000-square-foot industrial building at 17817 Gillette Ave. in Irvine. Stan Mullins, Wade Tift and Gary Allen of Grubb & Ellis Co. represented both parties.
Valencia Circle LLC of Aliso Viejo paid $4 million to Pacific Industrial Properties LLC of Newport Beach for a 40,750-square-foot industrial building at 20321 Valencia Circle in Lake Forest’s Baker Ranch Business Park. Gary Stache, Pat Scruggs, Mark Larson, Jeff Carr and Greg Haly of CB Richard Ellis represented both parties.
Coast Aerospace Manufacturing Inc. paid $2.8 million to an undisclosed seller for a 48,000-square-foot industrial building on two acres at 5221 Oceanus Drive in Huntington Beach. Coast Aerospace, which does precision machining, fabrication and tooling, had leased the building with an option to buy. Chuck Wilson and Wayne Lambert of Colliers Seeley International Inc. represented Coast. Al Segal of Collins Commercial Corp. represented the seller.
Kai-Lang Liang and his wife paid $2.3 million to Laguna Niguel-based Birtcher Real Estate Group for a 24,701-square-foot tech-flex building at 17881 Cartwright Road in Irvine. The couple’s company, TC Communications Inc., a seller of fiber optic networking devices, occupies the building. John Collins of Collins of Professional Real Estate Services represented the Liangs. Mitch Zehner and Louis Tomaselli of Voit Commercial Brokerage represented Birtcher.
Edron Enterprises of Irvine paid $1.8 million to Kim Revocable Trusts for an 11,525-square-foot shopping center at 1631 to 1641 E. 17th St. in Santa Ana. John Rothwell of Daum Commercial Real Estate Services represented Edron. Charley Simpson and Dan Samulski of Grubb & Ellis represented the seller.
Towing service Atrak Inc. paid $1.4 million to Beacon Industrial Distribution, part of Charlotte, N.C.-based Beacon Industrial Group Inc., for a 17,022-square-foot industrial building at 1210 N. Knollwood Circle in Anaheim. Zach Niles and Ben Seybold of CB Richard Ellis represented both parties.
Po Sui Shen paid $1.25 million to The Simon Family Trust for a seven-unit apartment complex at 11231 Bloomfield St. in Los Alamitos. The complex is full. Jonathan Mitchell with Marcus & Millichap Real Estate Investment Brokerage Co. represented both parties.
LEASES
Novak Electronics Inc., a maker of remotes and other products for remote control cars, leased 35,023 square feet at 17032 Armstrong Ave. in Irvine for five years in a deal valued at $1.4 million. John Suggs of Grubb & Ellis represented Novak. David Desper and Tom West of CB Richard Ellis represented landlord the Miller Trust.
Indian rice importer Kusha Inc. of Irvine leased 30,000 square feet of industrial space at 2332 Barranca Parkway for 10 years in a deal valued at $2.9 million. Kusha is moving to the building from a 19,000-square-foot site in Irvine. John Bral of Beitler Commercial Realty Services represented Kusha. Stan Mullin of Grubb & Ellis representing landlord the Donald Investment Co. of Newport Beach.
New Century Mortgage Corp., part of Irvine subprime lender New Century Financial Corp., leased a 21,768-square-foot industrial building at 2601 Walnut Ave. in Tustin for three years. Financial terms weren’t disclosed. Chip Wright and Dave Desper of CB Richard Ellis represented landlord Rossherm Properties. Jeff Shaw and Rick Kaplan of Cushman & Wakefield Inc. represented New Century.
Petsmart Inc. leased a 21,400-square-foot store at Santa Margarita Marketplace in Rancho Santa Margarita. Jeff Moore and the Focus Retail Group of CB Richard Ellis represented Santa Margarita Marketplace. Phoenix-based Petsmart was represented by Mike Metzger of Sierra Pacific Retail Group in Sacramento.
Felt Racing LLC, a distributor of high-end bicycles, subleased 14,537 square feet at 20372 Hermana Circle in Lake Forest for three and a half years in a deal valued at $450,000. Chip Wright and Gregg Haly of CB Richard Ellis represented landlord Distribution Systems International Inc. (see below). Randy Verdieck of Lee & Associates Real Estate Services represented Felt Racing.
Prudential Insurance Co. renewed and expanded its lease at Irvine’s Park Place at 3333 Michelson Drive for 11,023 square feet in a five-year deal valued at $1.7 million. Prudential had been in about 8,000 square feet of space. John Bral of Beitler Commercial Realty Services represented Prudential and Blackstone Property Management, an arm of landlord Blackstone Group LP.
Hospital supplier Distribution Systems International leased 7,355 square feet at 930 Calle Negocio in San Clemente for two years. Financial terms weren’t disclosed. Chip Wright and Gregg Haly of CB Richard Ellis represented Distribution Systems. Landlord Reuben Casey represented himself.
