Real Estate Deals
SALES
Vista-based Pan Pacific Retail Properties Inc. paid $40 million to Japan’s Mitsui Co. for Pavilions Place at Beach Boulevard and Heil Avenue in Huntington Beach. The center, which was built in 1986, is 91% leased and is anchored by Safeway Inc.’s Pavilions Supermarket and a Target Corp. store.
Foremost Airport Vegas Ltd. and Charles V. Kaminskas GP paid Kilroy Realty Corp. $21 million for the Lakeview Business Park in Anaheim and the Walnut Park Business Center in Walnut. The two acquisitions total 266,530 square feet. Alan Pekarcik of Voit Commercial Brokerage represented the buyer. Jeffrey Hawken of Kilroy Realty represented his company along with Michael Bouma and Rob Mitchell of Voit Commercial Brokerage.
A private investor paid $10.5 million to the Carlyle Group and Pacific Development for two buildings at the Plaza Pacifica Shops at Avenida La Pata and Avenida Pico in San Clemente. Phil Voorhees, Pat Scruggs, Gary Stache, Mark Larson and Blake Woodward of CB Richard Ellis Services Inc. represented both parties.
A private investor paid $1.55 million to Ming International Group for the 19,995-square-foot Cabrillo Plaza shopping center at 5201-5247 Orangethorpe Ave. in Anaheim. Mehran Foroughi and Kevin Hill of Sperry Van Ness represented the seller.
REVX-159 LLC paid $1.84 million to Meyers & Roy LLC for a 15,520-square-foot industrial building at 30331 Esperanza in Rancho Santa Margarita. Tom Gilmer and Mark Jerue of Lee & Associates Commercial Real Estate Services represented both parties.
A Huntington Beach investor paid $1.4 million to Bill Lee for the 16-unit apartment complex at 10782 and 10802 Palma Vista Ave. in Garden Grove. Jonathan Mitchell and Bryan Ruane of Marcus & Millichap Real Estate Investment Brokerage Co. represented both parties
California Plastering Consultants paid $1.2 million to IFM Orange LLC for a 10,944-square-foot industrial building at 1718 N. Neville St. in Orange. Alida Calvagna of Lee & Associates represented the buyer. Jeff Chiate and Rick Ellison of Cushman & Wakefield Inc. represented the seller
Epic Ceramic & Stone paid $1 million to Ali Tazerouni for an 8,000-square-foot industrial building at 2034 Placentia Ave. in Costa Mesa. The property was a house that was converted into an auto body shop. Epic plans to turn the building into a showroom. John Manion with NAI Capital Commercial Real Estate represented both parties.
LEASES
EMachines Inc. renewed its lease for 147,136 square feet at 14350 Myford Road in Irvine. The five-year lease is valued at $5 million. The building serves as the computer maker’s headquarters and warehouse. Wade Tift and Scott Read of the Grubb & Ellis Co. represented eMachines. Landlord The Irvine Company represented itself.
Union Bank of California renewed and expanded its lease at 18300 Von Karman Ave. in Irvine, going from 58,000 square feet to 67,704 square feet. The seven-year deal is valued at $14 million. Jeff Osborn of Cushman & Wakefield represented Union Bank. Greg May and David Girty of landlord Transwestern Commercial Services/CIGNA represented their companies.
