Real Estate Deals
SALES
Passco Real Estate Enterprises Inc. paid $12.3 million to Mass Mutual Life Insurance Co. for the Jeronimo Business Center, a 96%-occupied retail complex at 25800 Jeronimo Road in Mission Viejo. Ken Barry of CB Richard Ellis Services Inc. represented both parties.
O’Neil Storage, a records management and storage company, paid $4.8 million to AG/Touchstone Armstrong LLC for a 123,748-square-foot industrial building at 17352 Armstrong Ave. in Irvine. John Griffin of Voit Commercial Brokerage represented the seller. Roger Clark Inc. represented O’Neil Storage.
Cathedral Partners Inc. acquired a 29,852-square-foot retail facility at 180 S. Brea Blvd. in Brea’s Birch Street Promenade for $4.2 million from CIM Group. The building is home to Tower Records. Carlos Lopez and Nicholas Coo of Faris Lee Investments represented both parties.
Crown Associates Realty Inc. paid $3.5 million to Investment Building Group for a 55,200-square-foot industrial building at 1000 Railroad Drive in Irvine. The building is leased to Atlanta-based Acuity Brands Inc. Jeff Mitchell of Voit Commercial Brokerage represented both parties.
VM Properties paid $2.75 million to Santa Ana Cannery for a 47,100-square-foot industrial building at 1661 Palm Ave. in Santa Ana. Greg Ozimec and Michael Hefnerof of Voit Commercial Brokerage represented the buyer. Shelton Morrison represented the seller.
Compass International Inc., a supplier of drywall screws and construction fasteners, paid $2.4 million to Clifford Cos. for a 42,149-square-foot building it had been leasing at 501 Air Park Drive in Fullerton. Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage represented the seller. Patrick Meaney of J.W. Lewis Co. represented the buyer.
Cal Auto Center paid $2.4 million to Armando and Robin Jean Rodriguez for a three-building, 24,505-square-foot automotive center at 500 to 526 N. Gilbert St. in Fullerton. Ren Glanz of Voit Commercial Brokerage represented the buyer. Tad Garabedian of Ashwill Associates represented the seller.
American Realy Advisors acquired a nine-story office building at 4100 Newport Place in Newport Beach for undisclosed terms from TA Associates Realty. Robert Smith, Michael Kane and Karen Scholte of CB Richard Ellis Services Inc. represented both parties.
Costa Mesa-based Donahue Schriber Realty Group LP paid $18 million to Plaza Sorrento LLC for the Plaza Sorrento Shopping Center at 6755 Mira Mesa Blvd. in San Diego. The retail center is 96% leased. Frank Kosi of Sperry Van Ness represented the buyer. Phil Wise and Richard Lebert of Colliers Seeley International Inc. represented the seller.
LEASES
Borders Group Inc. leased 15,000 square feet of retail space for 10 years at Rancho Santa Margarita’s Plaza El Paseo. Jeff Moore and the Focus Retail Group of CB Richard Ellis represented Plaza El Paseo. Ron Wood of Epsteen & Associates represented Borders.
Anna’s Linen Co. leased 13,144 square feet of at 3550 Hyland Avenue in Costa Mesa for seven years from C.J. Segerstrom & Sons. Financial terms weren’t disclosed. Dave Desper and Chip Wright of CB Richard Ellis represented the landlord. Brian Harniteaux and Toliver Morris of McCarthy Cook & Co. represented Anna’s Linen.
OTHER
The Orange County office of McCarthy Building Cos. has been awarded a $9.5 million contract by the Los Angeles to Pasadena Metro Blue Line Construction Authority to design and build the five-level, 326,000-square-foot Sierra Madre Villa Parking and Bus Facility at 149 North Halstead Ave. in Pasadena. Completion is expected by January.
