SALES
An undisclosed buyer paid $8.4 million to an undisclosed seller for the Valley View Apartments at 8702 Valley View St. in Buena Park. The 50 apartments sold for $168,000 each. John L. Nguyen of Marcus & Millichap Real Estate Investment Services Inc. represented both parties.
Canyon Orthodontics paid $8 million to Praeduim Group for an 18,600-square-foot office building at 25251 Paseo de Alicia in Laguna Hills. The building, which was empty, sold for $428 per square foot. John Wadsworth and Casey Immel of Colliers International Inc. represented the seller. Steve Economos and George Economos of NAI Capital Inc. represented the buyer.
Stonewood Properties paid $3.5 million to Newport Stationers for an 11,903-square-foot retail building at 4229 Birch St. in Newport Beach. The building sold for $290 per square foot. Stonewood Properties plans to occupy 3,000 square feet of the building in July after renovations. The rest of the building will be leased to a retailer. Steve Economos and George Economos of NAI Capital represented both parties.
Redac LLC paid $3.2 million to Robert and Melissa Stormant for a 20,000-square-foot industrial building at 2100 E. Walnut Ave. in Fullerton. The building sold for $160 per square foot. Tom Mulrooney and Steve Brackmann of Ashwill & Associates LLC represented the seller. Scott Seal of Lee & Associates Commercial Real Estate Services represented the buyer.
Caramello LLC paid $3.1 million to Hanley Family Living Trust for Brea Plaza, a 6,576-square-foot shopping center at 401 N. Brea Blvd. in Brea. The center, which is full, sold for $474 per square foot at a capitalization rate of 4.72%. Edward Hanley and Jeremy McChesney of Hanley Investment Group represented the seller. Jack Hopkins of Marcus & Millichap represented the buyer.
Lyall Turbosonics Inc. paid $2.56 million to Netsource Technology Inc. for an 11,030-square-foot industrial building at 30032 Aventura in Rancho Santa Margarita. The building sold for $232 per square foot at a capitalization rate of 6.25%. Netsource, an electronics distributor, leased back the building for three years. Financial terms of the lease weren’t disclosed. Craig Fitterer and Mark Jerue of Lee & Associates represented both parties.
Maurice Dominguez paid $1.7 million to Loftin Family Trust for a 7,945-square-foot industrial building at 502 Goetz Ave. in Santa Ana. The building sold for $214 per square foot. Kevin Thomas of Lee & Associates represented both parties.
Richard and Terry Veyna of Whittier paid $1.4 million to an undisclosed family partnership for a five-unit apartment complex at 129 to 131 Broadway in Costa Mesa. The apartments sold for $275,000 each at a capitalization rate of 5.4%. Steven Brombal and Steve Bryant of Hendricks & Partners represented both parties.
LEASES
Paramount Marketing Inc. leased 5,303 square feet of office space at 15991 Red Hill Ave. in Tustin. Financial terms of the three-year lease weren’t disclosed. Nick Spatafore of CB Richard Ellis Group Inc. represented landlord Redhill Investments LLC.
Clothing maker Robert Talbott Inc. leased 1,584 square feet of office and distribution space at 17200 Red Hill Ave. in Irvine. Financial terms of the two-year lease weren’t disclosed. Zach Zanolli of CB Richard Ellis represented the tenant. John Martin of Lee & Associates represented landlords Young and Michelle Tran.
