Real Estate Deals
A joint venture of Security Properties and Principal Capital paid $17.6 million to Fairfield Homes Inc. for the 162-unit Avanti Apartment Homes complex at 650 W. Broadway Blvd. in Anaheim. The complex is 97% leased. Ray Eldridge, Sean Deasy and Chris Knowles of CB Richard Ellis Services Inc. represented both parties.
MetroCenter LLC bought a two-story, 33,488-square-foot office building at 1535 E. Orangewood Ave. in Orange from 2000 Orange Avenue Partners. The Orange County Probation Department signed a 15-year lease with MetroCenter for the entire building. The combined value of both transactions is $14 million. Rick Gill and Maury Panza of Collins Commercial Corp. represented MetroCenter in the buy and the lease. Ted Broedlow of Ldc Realty Services Inc. represented 2000 Orangewood Avenue.
Chung and Co. LLC paid $9.3 million to a joint venture of The Praedium Group and Birtcher Real Estate Group for two office buildings at 1560 and 1570 Brookhollow Drive in the Brookhollow Office Park in Santa Ana. The buildings total 76,101 square feet and are 96% leased. Chung and Co. represented itself. Mike Meisenbach and Brian Garbutt of Lee & Associates Commercial Real Estate Services Inc. represented the seller.
Private investor Richard Bracamonte paid $6 million to San Francisco’s GK Investment for a 91,000-square-foot warehouse and distribution building at 1400 Manhattan Ave. in Fullerton. Jeff Chiate and Rick Ellison of Cushman & Wakefield Inc. represented GK. Dan Patterson of Colliers-Seeley International Inc. represented the buyer.
Northern California-based Warren Wincorn paid $3.5 million to Yorba Linda East Partners Ltd. for a 19,530-square-foot retail property at 18533-18549 Yorba Linda Blvd. in Yorba Linda. George Arce of Centers Dynamic Inc. represented the buyer. The seller was represented by Nick Coo and Richard Walter of The Retail Investment Sales Team In Southern California Inc.
Chad LLC paid $1.2 million to Ferdosh Nankani and Denise Dyck for an 11,000-square-foot office building at 128 E. Katella Ave. in Orange. The building is 70% leased. Darren Hamilton of Cushman & Wakefield represented the buyer. Michael Lawrence of Marcus & Millichap Real Estate Investment Brokerage Co. represented the sellers.
Reese Management LLC paid $1.1 million to the George Pearce Trust for two fully-leased buildings at 331 and 351 Thor Place in Brea. The buildings are 9,446 square feet and 11,395 square feet, respectively. Brian Williams of Voit Commercial represented both parties.
OC Circuit Breakers, a maker of circuit breaker trip switches, paid $1 million to WhiteStar Properties LLC for a 12,054-square-foot industrial building at 1015 N. Armando St. in Anaheim. Mike Boomer, Louis Tomaselli, Mitch Zehner of Voit Commercial Brokerage represented both parties.
Cip Real Estate paid $5.7 million to The Colton Co. for a three-story, 37,738-square-foot office building at 19762 MacArthur Blvd. in Irvine’s Centerpointe. The building is 63% leased. Mike Meisenbach and Brian Garbutt of Lee & Associates represented the buyer. Bob Smith of CB Richard Ellis represented Colton.
LEASES
Vacation Resorts International leased 18,439 square feet of office space in the five-story Plaza Pointe building at 23041 Avenida de la Carlota in Laguna Hills. The five-year deal is valued at $1.9 million. Vacation Resorts is set to occupy the space in October. Debra Wodarck of Colton Capital Corp. represented landlord Plaza Pointe Partners. Adam Wicker of Grubb & Ellis Co. represented the tenant.
Integrated Research LLC leased 14,677 square feet at 505 S. Main St. in Orange from Oly Orange Commerce. The three-year deal is valued at $1 million. Tim Helgeson and Greg Tippin of Insignia/ESG represented Integrated. Oly Orange was represented by Tom Abel and Kevin Teel of CB Richard Ellis.
Miller-Brooks Environmental Inc., an environmental engineering company, leased 12,974 square feet of office space in SeaCliff Office Park at 2124 S. Main St. in Huntington Beach for six years. The deal is valued at $1.4 million.
Bob Rieden of Lee & Associates represented Miller Brooks Environmental. Scott Dever of Colton Capital represented the landlord inhouse.
Homebuilder KB Home subleased 10,292 square feet from industrial software maker Optum Inc. at 3330 Harbor Blvd. in Costa Mesa. The 39-month sublease is valued at $567,000. Keith Kropfl and Dennis Smith of Travers Realty Corp./ONCOR Int’l represented KB Home. Liz Hurley and Craig de Miranda with Trammell Crow Co. represented Optum.
ABM Industries Inc., a facility services contractor, leased a 4,800-square-foot unit at 17342 Eastman St. in Irvine from Bradmore Investment Co. The five-year deal is valued at more than $244,000. Barry Knudson and David Desper of CB Richard Ellis represented the landlord. Matt Wiley of Travers represented the tenant.
Bear Creek Stores Inc. leased 3,500 square feet of space at Metro Pointe Center in Costa Mesa for a Harry & David store. Financial terms weren’t disclosed. Jeff Moore, John T. Mehigan, Scott Horsley and Jennifer Bobie of CB Richard Ellis negotiated the deal.
South Coast Loans and Mortgage Inc. leased 3,060 square feet of office space at 333 City Blvd. W. in Orange for three years from Intarsia Inc. Financial terms weren’t disclosed. Intarsia was represented by Tom Abel and Tom McAllister of CB Richard Ellis. South Coast was represented by Grubb & Ellis.
Titan Industries, a wholesaler of women’s shoes, leased a building at 17335 Mount Wynne Circle in Fountain Valley. The deal is valued at $1.1 million. Andrew Friedman of Industrial Properties represented Titan Industrial. Mike Bouma and Jeff Williams of Voit Commercial represented landlord La Quinta Development.
