Compiled by Kelly Ryan
SALES
An undisclosed buyer paid $13 million to Irvine-based Sanderson J. Ray Corp. for the 28,365-square-foot Bristol Park Medical Plaza at 250 E. Yale Loop in Irvine. The plaza sits on 1.7 acres and sold for $458 per square foot. The deal closed with a 6% capitalization rate and is full with five tenants, including Bristol Park Medical and Irvine Diagnostics Center. Faris Lee Investments represented both parties.
JD Market Acquisitions paid $6.5 million to San Camino Investments Inc. for a 14,100-square-foot retail building at 118 to 124 S. El Camino Real in San Clemente. The building sold for $460 per square foot. Massy Farzine of ESDI Corp. represented the seller. Gabrielle Levine of JD Market Acquisitions represented the buyer.
Tustin-based River Oaks Apartments LLC paid $4 million to Schick P. and Eileen Jue and Paul and Helen Wong of Laguna Niguel for a 24-unit apartment complex at 8182 7th St. in Buena Park. The apartments span 26,000 square feet and sold for $166,000 each. They sold at a capitalization rate of 4.7%. Rick Applebaum of Morgan Skendarian Investment Real Estate Group represented the buyer. Stephen Heri, Peter Gillin and Steve Gim of CB Richard Ellis Group Inc. represented the seller.
Patti Mahaffey Trust paid $3 million to Kuan-Jung Lin for a 15,624-square-foot office building at 595 W. Lambert Road in Brea. The building sold for $193 per square foot at a capitalization rate of 5.8%. The building is 80% full. Fred Shemirani of American Abritrim represented the buyer. Alex Garcia of Marcus & Millichap Real Estate Investment Services represented
the seller.
An undisclosed buyer paid $750,000 to the Booth Trust for a 1,400-square-foot office building at 368 S. Glassell St. in Orange. John Bergan of Bergan-Russell & Associates represented the seller. Dan Slater of Orange Realty Inc. represented the buyer.
LEASES
CompuMail Inc. subleased 2,096 square feet of office space from Pacific Mercantile Bancorp at 31061 Avenida Los Cerritos in San Juan Capistrano. The three-year lease is
valued at $132,048. Judy Belland and Robert Kehiayan of Investment R/E Source Inc. represented CompuMail. David Kinney of Madison Street Partners represented Pacific Mercantile.
Please send real estate deals to deals@ocbj.com or to Orange County Business Journal, Attention: Deals, 2600 Michelson Drive, Ste. 170, Irvine, CA 92612. For sales, please list buyer and seller, sale price, square footage, building type, address and names of brokers and brokerages involved in the deal. For leases, please include tenant name, amount of square footage leased, type of space leased, value and duration of lease, address, landlord and brokers and brokerages involved in the deal.
