CB Richard Ellis sold Summit Springs Business Park, a 235,000-square-foot, three-building office complex in Santa Fe Springs, to Brian Weiss and the Wysard Family for a total of $11 million. Weiss purchased one building; the Wysard Family purchased the other two. The campus was purchased by the developer two years ago for less than $3 million.
Graphitti Designs purchased a 9,944-square-foot industrial building in Anaheim Hills from Clifford Realty Co. for approximately $812,000. Graphitti Designs will use the facility, at the Clifford Savi Industrial Park, for offices, manufacturing and distribution. Clifford Realty was represented by Dave Alderman and Mitch Zehner of Voit Commercial Real Estate. Graphitti Designs was represented by Kevin Chapin of NAI Capital Commercial.
Newport Beach-based Donahue Schriber acquired Gordon Square, a 100,500-square-foot neighborhood shopping center in Buena Park, for $11.8 million from Buena Park G & S. The center, which will undergo a renovation and the addition of 27,000 square feet of retail space, counts PetsMart, Blockbuster Video, El Pollo Loco and Kragen Auto Parts among its lessees. Construction will begin in June on an 11,000-square-foot Tutor Time daycare facility and the remaining additional retail space. Completion is expected by the end of this year.
Morgan Skenderian Investment Real Estate Group brokered the sale of a 13-unit apartment complex in Costa Mesa to Michael Cherney and Steve Merrill of Huntington Beach for $1.2 million. The 21st Street Apartment complex was owned by the Chao Family Trust of Irvine. Grant Hahn of Morgan Skenderian represented both buyer and seller in the transaction.
The Williams Centre in Tucson was acquired by 2000 Colton Properties Inc. of Irvine from Talcott Realty I Limited Partnership. The properties consist of three Class A mid-rise and high-rise office towers totaling 354,133 square feet. Kevin Shannon and Jonathan Jump of Grubb & Ellis represented both buyer and seller.
An affiliate of Pacific Industrial Partners, Encino and Newport Beach, purchased a 63,500-square-foot manufacturing and warehouse facility in the city of Industry for $2.1 million from 4040 Capitol Ave. Inc. The building is undergoing a $300,000 renovation expected to be complete in June. Robert Socci and Brian Corrigan of Voit Commercial Brokerage represented the buyer and seller.
Park Place Partners Inc. sold 9.21 acres of land in Claremont to Pacific Crest Communities Inc. Doug Jorritsma and Terry Ruckle of Park Place Partners represented both the seller, Kaufman & Broad, and Pacific Crest. The company will build 25 single-family homes in three floor plans ranging from 3,200 square feet to 3,700 square feet on the property.
Alcone Marketing Group purchased a 92,000-square-foot facility at 4 Studebaker in Irvine for its West Coast hub and world headquarters. The company has offices in Irvine, Darien, Conn., London and Hong Kong. John Matus and Christine Bowen of Lee & Associates represented Alcone Marketing in the transaction. Futaba Corp. was the seller of the property, which it had used for the manufacture of radio control systems. Jim Cunningham, senior vice president with Grubb & Ellis, represented Futaba.
A private investor purchased North Park Plaza, a 145,000-square-foot medical office complex on 14 acres in Santa Ana, from SAMAC Ltd. of Manhattan Beach. The five-building complex was 85% leased at the time of the sale, which was valued at $8.85 million. Jeff Hanson of Grubb & Ellis’ downtown Los Angeles office and Gregg Herbert of the company’s Newport Beach office represented the buyer and seller in the transaction.
Morgan Skenderian Investment Real Estate Group brokered the sale of a 16-unit apartment complex in Anaheim to Norman and Rene Saslow of Huntington Beach for $975,000. The property, known as Clifton Avenue Apartments, was owned by the Kuo Family Trust of Buena Park. Jay Skenderian and Grant Hahn of Morgan Skenderian’s Newport Beach office represented the seller and Larry Fox of Coldwell Banker represented the buyer.
LEASES
Firstworld Communications leased 50,000 square feet of office and warehouse space at 17222 Von Karman Ave. in Irvine for $4.2 million. Bob Mellema of Southwest Commercial represented the landlord, Westland Industries; Reynolds McCabe of Travers Realty represented the tenant.
Dennis De Meis and Chris Koceman of Southwest Commercial represented Costanzo LLC, the landlord, and Timber Crest Furniture, the tenant, in a lease transaction at 1814 N. Neville St. in Orange. The lease, for 16,300 square feet, was valued at $367,000.
Mark Window Products expanded into 17,550 square feet at 1411 E. Wilshire St. in Santa Ana. Dennis De Meis and Chris Koceman of Southwest Commercial represented the landlord, Pace Equities Inc. The tenant was represented by Andy Friedman of Industrial Properties. The deal was valued at $651,000.
DDAS Inc. Record and Storage leased 7,300 square feet on Kaiser Avenue in Irvine from Neonex Investments. The $202,000 lease was completed by Bob Mellema of Southwest Commercial, who represented both the tenant and landlord.
CONTRACTS
Snyder Langston, Irvine, began construction on Phase One of LNR Warner Center, a Class A office complex in the San Fernando Valley. The $32 million project will include two, five-story Class A office buildings and a 1,200-car parking structure.
Construction began in March on a 25,700-square-foot spec industrial building in Rancho San Clemente. Donald Mueller Associates, Aliso Viejo, is the architect; General Contractors of San Clemente is building and managing the project.
Trico Development Co. is the general contractor for a multi-tenant light industrial and commercial center in Fullerton that includes four buildings totaling 70,100 square feet. Gillings and Associates of Aliso Viejo provided the design; Sikorski Construction Services is handling construction management.
