SALES
Wohl Investment Co., Irvine, purchased Katella Plaza, a 63,00-square-foot retail center in Orange, from the Carpenters Pension Trust of Southern California and National Operating LP for $3.1 million. The center, which is 62% occupied, will be remodeled with a new fa & #231;ade. Chuck Gardner and Ken Hulbert with Daum, Newport Beach, represented all parties in the transaction. In addition, the company purchased Dimension Business Park in Lake Forest from Kilroy Properties for $3.3 million. The 45,000-square-foot office and industrial park is 100% occupied. Mike Bouma and Paul Caputo of Voit Commercial’s Anaheim office represented both parties.
The Abbey Co. purchased a 118,000-square-foot office project in Bakersfield as a leased investment. The transaction, valued at $7.4 million, includes a four-building complex that was 90% occupied at the time of the sale. David Lachoff, Kevin Shannon and Mark Smith of Grubb & Ellis represented the buyer and seller, ASP Ming LLC, in the transaction.
Los Alamitos Suites, a 17,954-square-foot office building in Los Alamitos, was acquired by Fisher Properties for approximately $1.73 million. Mike Austin and Fouy Ly of Sperry Van Ness represented the seller, Dwain Burris of Los Alamitos. Mike Austin represented Fisher Properties. Major tenants of the 2-story building include American Title and Century 21.
Morgan Skenderian Investment Real Estate Group sold a 33-unit apartment complex in Anaheim to Miraloma Investors LLC of Newport Beach for $1.77 million. Ken Morgan and Jay Skenderian represented both the buyer and seller, the Chiang and Lam Family Trust of Villa Park, in the transaction. Additionally, the company sold a 16-unit apartment complex in Anaheim to Windsor Rentals LLC of El Segundo. Ken Morgan and Jay Skenderian represented both the buyer and seller, the Chen Family Trust of San Gabriel.
Irvine-based Bascom Group LLC purchased a 142-unit apartment complex, the Virgil Tower & Virgil Square Apartments in Los Angeles, from Fairfield Residential LLC for $9.75 million. David Le Beau of Fairfield Residential represented both parties. The Bascom Group plans to invest about $700,000 in capital improvements to the property. In addition, Bascom purchased a 197-unit apartment complex, University Village Apartments, in San Bernardino for $11 million. David Le Beau represented both parties. Approximately $1.15 million in improvements are planned for the property.
Eden Roc Retirement Center, Anaheim, a 3-story, 107-unit complex, was acquired by VillageCare Assisted Living Corp., San Juan Capistrano.
LEASES
Equity Office Properties Trust leased 14,926 square feet of office space at the 1920/2010 Main Plaza at MacArthur Boulevard and Main Street in Irvine. Benefit Land Title Insurance Co. was represented by Chris Latta of Lee & Associates in its lease for 9,638 square feet. ChildrenFirst Inc. leased 5,288 square feet on the ground floor of the 2010 building. Frank Campbell represented Equity Office in both transactions. The 12-story twin towers total more than 561,000 square feet.
The Festival Companies leased 3,965 square feet of space at El Rancho Plaza in Anaheim to My Gym for 6 1/2 years. Matt Gotkowski and Greg Garabedian of the Festival Companies represented the landlord, Fairmont Plaza Partners. The company also leased 5,598 square feet in Westminster to United Retail Corp. for 12 years. Garabedian represented Festival in the deal; Nick E. Desiderio of Beitler Commerical Realty represented the tenant. Terranomics also leased 4,800 square feet in Huntington Beach from Festival. Chris DePierro of Pentz & Partners represented the tenant; Sharon Courtway represented Festival in the transaction. Courtway also represented Festival in a 5-year lease of 1,750 space in Mission Viejo to the Crosstraining Club. Kathy Fuller of Voit Commercial represented the lessor, Farallon Gateway Ltd.
OTHER
Holliday Fenoglio Fowler, Newport Beach, arranged a $5.65 million acquisition loan for HK Realty Inc.’s purchase of the Ridgeview Village Apartments in Palmdale. The mortgage banking firm also arranged a $9.95 million loan for Granite Investment Group for the purchase of Brook Park West Apartments in Buena Park. David Bleiweiss of Holliday’s Newport Beach office arranged both loans.
The Alison Co., Newport Beach, arranged $4 million in permanent financing for Hi-Lite Manufacturing Co. through Woodmen of The World Life Insurance Society for a 143,530-square-foot single-tenant industrial building in Chino. In addition, the company arranged a $3.6 million loan through StanCorp Mortgage Investors for Foothill-Pacific Towne Centre IV in Foothill Ranch. James Deal handled the Chino project; Carl Fuller handled the Foothill Ranch deal.
Michael Brandman Associates, Tustin, was chosen by the city of Chino to lead development plans for the city’s 5,400-acre sphere of influence north of the Prado Basin in the Chino Valley Dairy Preserve. The deal is valued at $285,000.
