Real Estate Deals
Compiled by Amy Rottier
SALES
Anaheim-based Temp Power Systems Inc. paid $2.1 million to Richard D. & Pamela K. Sholten for 25,000 square feet of industrial space at 625 Fee Ana St. in Placentia. Ian Britton and Brad Bierbaum of CB Richard Ellis Services Inc. represented the buyer.
Ace Technology Inc., a company that designs and manufactures wireless antennas and RF components, paid $1.65 million to the Terry Family Trust for the 11,003-square-foot flex building at 9201 Irvine Blvd. in Irvine. Scott Lim of Bee Investments Inc. represented Ace. Sam Olmstead of Voit Commercial Brokerage represented the seller.
A Garden Grove private investor bought the former Laguna Cookie & Dessert Co. building at 15541 Mosher Ave. in Tustin for $4.2 million. The industrial building is 53,842 square feet. Scott Smith of CB Richard Ellis represented the buyer. David Desper and Linda Barden of CB Richard Ellis represented Laguna Cookie Company Inc.
Professional Real Estate Services bought the two-story office building at 1101 Dove St. in Newport Beach from Colton Capital Corp. It is 100% occupied. Financial terms weren’t disclosed. Robert Smith of CB Richard Ellis represented both parties.
Racepak Data Systems, a division of Competition Systems Inc., bought the 12,000-square-foot flex and research and development building at 30402 Avenida Esperanza in Rancho Santa Margarita. The company plans to relocate from 26806 Vista Terrace in Lake Forest early next month. Financial terms weren’t disclosed. Mark Jerue of Lee & Associates represented Racepak. Gregg Haly, Ted Snell and Lisa Pirozzi of CB Richard Ellis represented seller CIGNA Investment Group Inc.
LEASES
Cingular Wireless leased 1,980 square feet of retail space at 2839 W. First St. in Santa Ana for five years from the McCalla Centre. Jim Duke, Carol Schillne and Shannon North of CB Richard Ellis represented McCalla. Grubb & Ellis Co. represented Cingular.
The University of Phoenix Inc. signed a 6.5-month lease with Arden Realty Inc. for 11,131 square feet of office space at 10540 Talbert Ave. in Fountain Valley. The deal is valued at about $97,000. Arden was represented by its Andy Batcheller.
John MacDonald Insurance leased a 1,947-square-foot office space at 23521 Paseo de Valencia in Laguna Hills from Muller-Taj LLC. The five-year lease began July 1. Financial terms weren’t disclosed. John MacDonald was represented by Howard Floom of CB Richard Ellis.
Excel Learning Center signed a three-year lease with Nesbitt Brea Ventures Ltd. for 2,497 square feet of office space at 910 E. Birch St. in Brea. Tom Abel and Joe Miller of CB Richard Ellis represented the landlord.
Laguna Woods Ambulatory leased 9,096 square feet in the Towne Centre Medical Building at 24331 El Toro Rd. from Mark IV Capital. The five-year deal is valued at $1.8 million. The tenant is set to occupy the space in October. Greg Blake and Doug Owen of Unimed Realty Advisors represented Laguna Woods Ambulatory. Brad Rawlins and Allen Basso of Lee & Associates represented Mark IV Capital.
Automatic Data Processing Inc. renewed its lease for 37,904 square feet of office space at Centerpointe La Palma 18 in La Palma. The five-year deal is valued at $2.25 million. Vince Pellerito of Cushman & Wakefield Inc. represented Automatic Data. Landlord Arden Realty was represented by its Tina La Monica.
Straub Distributing Co., a distributor of Anheuser-Busch products, leased the 59,645-square-foot flex building at 2701 Dow Ave. in Tustin from Investment Development Services. The five-year deal is valued at more than $2.6 million. Trent Walker of Voit Commercial represented Straub. Thomas West and Thomas Dorman of CB Richard Ellis represented Investment Development.
Stack Computer Inc. leased a 12,000-square-foot building at 1642 Kaiser Ave. in Irvine, which almost doubles its headquarters. The three-year deal is valued at more than $400,000. Jeff Mitchell of Voit Commercial represented Stack. Thomas West of CB Richard Ellis represented landlord Lynn T. Oettinger Trust.
Longust Distributing Inc., a full-service tile and flooring distribution company, leased 54,075 square feet in an industrial/distribution building at 1190 N. Anaheim in Anaheim. The six-year deal is valued at more than $2.1 million. Steve Bryant and Lance Parker of Grubb & Ellis represented Longust. Brian Corrigan and Nick Roussos of Voit Commercial and Jeffrey Kernochan of the Fischer Co. represented landlord Insignia Esg Inc.
