Real Estate Deals
SALES
Laguna Hills-based Guthrie Development Co. paid $11.6 million to The Realty Associates Fund III LP for the 140,064-square-foot Orange Industrial Park in Orange. Guthrie plans to plans to spend $1.7 million to refurbish and upgrade the 23 buildings in the complex before selling them to tenants or other buyers.
An undisclosed private investor paid $11 million to Irvine-based CIP Real Estate for the 162,000-square-foot Fullerton Business Center, a distribution and industrial complex at 2300 to 2386 E. Walnut Ave.
CIP owned the center with Alex Brown Realty Inc. of Baltimore
The Air Conditioning and Refrigeration Industry Pension Fund paid $5.8 million to Newport Federal for a 37,263-square-foot- office building at 1380 S. Sanderson Ave. in Anaheim. The fund plans to operate a school at the site. Alan Pekarcik, Dan Vittone, Mitch Zehner, Louis Tomaselli and Rob Mitchell of Voit Commercial Brokerage represented both parties.
LEASES
JSW Plastics Machinery Inc. leased 27,500 square feet at 555 South Promenade Ave. in Corona, where it plans to relocate from Anaheim. The five-year deal is value at $750,000. Neil Miyazaki of NAI Capital Commercial represented JSW Plastic Machinery, a maker of plastic injection molding machinery. Brian Bargemann of landlord Investment Building Group represented his company.
