SALES
J & A; Investments purchased the 36,654-square-foot Greenleaf Square in Whittier from Greenleaf Equities LP for $4.3 million. Michael Lawrence of Marcus & Millichap’s Newport Beach office and David Black of Marcus & Millichap represented Greenleaf Equities LP.
Shakti and Sangeeta Bhatia of Cerritos acquired the 14-unit Milton Apartments in Whittier from Armando and Robin Rodriguez. Sam Shah of Remax Realty represented the Bhatias. In addition, George Castelli bought the 16-unit Newlin Apartments in Whittier from Armando and Robin Rodriguez. Sari Casar of Century 21 represented Castelli. Ken Morgan and Jay Skenderian of Morgan Skenderian Investment Real Estate Group’s Newport Beach office represented the Rodriguezes in both transactions.
Seldon Investments bought a 30,589-square-foot industrial building at 1435 Pioneer St. in Brea from Brea Butler LLC for $2.4 million. Don Paul of Ashwill Associates represented Seldon Investments. Jim deRegt of Lee & Associates’ Newport Beach office represented Brea Butler LLC.
Bristol Design Center Ltd. acquired a 1.6-acre parcel in Costa Mesa from Deacon Family Trust for $1.3 million. Bruce E. Singer of Prudential RB Allen Commercial Real Estate Services represented the trust.
KB Homes bought 91 lots in the masterplanned community of Amerige Heights in Fullerton from Anaheim-based SunCal Cos. for $10.2 million. Mackey O’Donnell, Craig Atkins and Mike Hunter of O’Donnell/Atkins Co. represented both parties.
Essex Realty Management sold a 94,250 square-foot R & D; building at 1900 Carnegie in Santa Ana for $11 million. Chip Wright, Dave Desper and Jerry Nourse of CB Richard Ellis’ Newport Beach office brokered the transaction.
LEASES
Word & Brown renewed its lease for 54,717 square feet at 701 Parker St. in Orange from Arden Realty Inc. The five-year contract was valued at $6.5 million. Mike Russell of Mohr Partners represented Word & Brown. Arden represented itself.
Medical Specialties Managers renewed its lease for 9,531 square feet at Orange Financial at 701 Parker St. in Orange from Arden Realty Inc. The five-year contract was valued at $1 million. Kevin Leonard of Healthwest Realty Advisors represented Medical Specialties Managers. Arden represented itself.
Pacific Communications expanded its space to 26,700 square feet in the South Coast Metro development at 575 Anton in Costa Mesa that it leases from McCarthy Cook. The five-year lease was valued at $4 million. Chip Wright, Gregg Haly and Omar Dauod of CB Richard Ellis’ Newport Beach office represented Pacific Communications. McCarthy Cook represented itself.
Panolam Group Inc. leased a 97,310-square-foot space at Koll Arrow Center in Rancho Cucamonga from Koll Development Co., Newport Beach. The seven-year lease was valued at $2.8 million. Eric Burney and Tal Siglar of Daum Commercial represented Panolam. Peter McWilliams, Kevin McKenna and Tom Taylor of Colliers-Seeley marketed Koll’s project.
OTHER
L. J. Melody & Co. and CB Richard Ellis arranged $192.4 million in financing for a portfolio of 18 apartment communities in California, Texas, Nevada and Mississippi. Tom Fish and Holly Minter of L.J. Melody arranged the financing through Bank of America on behalf of RCA Holdings.
Panattoni Development Co.’s Irvine office will develop two industrial buildings totaling 97,000 square feet on a 4.5-acre parcel in Chino. The project is slated for completion in the first quarter of 2002.
