Real Estate Deals
JP Scenic LLC paid $3.4 million to Scenic Avenue Properties for a 34,886-square-foot industrial building at 1690 Scenic Ave. in Costa Mesa. Jim Snyder, Pat Lacey and Greg Velastegui of Lee & Associates’ Newport Beach office represented both parties.
TESLAco acquired two acres of land in Irvine from The Irvine Company’s Irvine Community Development unit. The electric power conversion company plans to build a 35,000-square-foot corporate headquarters on the site. It will be relocating from Irvine Spectrum III to the corner of Tesla Way and Irvine Center Drive in Spectrum V. Dave Kluver of Grubb & Ellis’ Newport Beach office represented TESLAco. Jim Cunningham and Stan Mullin of Grubb & Ellis’ Newport Beach office represented Irvine Community Development.
Millenium Realty Advisors sold the 24,600-square-foot Birchbrook Office Park office condominium complex at 3000 E. Birch St. in Brea to a private family trust for $2.8 million. Michael Lawrence and Landon Wright of Marcus & Millichap represented the Millenium Realty Advisors.
Mr. and Mrs. Brenn purchased the 30,590-square-foot Magnolia Center at 19171 Magnolia St. in Huntington Beach from ABCD LLC for $3.3 million. Scott Hook of Marcus & Millichap represented the Brenns. Michael Woolbright of Marcus & Millichap represented ABCD.
Guasti Investment Associates sold the 113,664-square-foot The Bosch Corp. Building in Ontario to a private investor for $4.9 million. Michael Lawrence of Marcus & Millichap’s Newport Beach office represented Guasti Investment Associates. Scott Ostlund of Lee & Associates represented the buyer.
San Diego-based M & H Realty Partners sold the 181,000-square-foot Home Expo Center in Huntington Beach to a private family trust for $13 million. Dixie Walker and Michael Randall of Grubb & Ellis’ Newport Beach office represented both parties.
San Diego-based retail Pan Pacific Retail Properties paid $20.4 million to Brookhurst LLC for the 181,000-square-foot Brookhurst Center in Anaheim. Dixie Walker of Grubb & Ellis represented both parties.
Palos Verdes-based Almost Cypress LLC bought the 102-unit Cypress Gardens Apartments at 21600 Bloomfield Ave. in Cypress from an Irvine-based investment company, The Bascom Group. Gary Tolfa of Investment Property Group as well as Jay Skenderian and Ken Morgan of Morgan Skenderian Investment Real Estate Group’s Newport Beach office represented both parties.
Private investors, Russell & Marcia Bill purchased the 43-unit Candlewood Apartments multifamily complex in Whittier from Colima Road Properties LLC of Corona del Mar for $3.2 million. Juan Cardenas of Remax represented Russell & Marcia Bill. Jay Skenderian and Ken Morgan of Morgan Skenderian represented Colima Road Properties LLC.
Ed Cerna of San Francisco paid $8.3 million to Irvine-based Bascom Lincoln Avenue Apartments for the 88-unit Buena Park apartment complex at 6343 Lincoln Ave. in Buena Park. Ken Morgan and Jay Skenderian of Morgan Skenderian Investment Real Estate Group as well as Gary Tolfa of Investment Property Group represented both parties.
David Tsoong sold the 74-unit Glassell Gardens Apartments at 1491 Glassell St. in Orange to Advanced Real Estate Services for $7.7 million. Cray Carlson of Marcus & Millichap represented Advanced Real Estate Services. Carlson and Kevin Struve of Marcus & Millichap represented David Tsoong.
Leases
Toyota Motor Sales USA leased 31,424 square feet at 340 Fischer Ave. in Costa Mesa from 340 Fisher Associates. The five-year contract was valued at $2 million. It will be used as an expansion of Toyota’s racing division. Charles Winn and David Ryan of Collins Commercial Corp. represented both parties.
