Pala Enterprises LLC purchased a 109,838-square-foot manufacturing and distribution facility in Garden Grove. Jim Snyder, senior vice president of Lee & Associates’ Newport Beach office, represented the buyer and CB Richard Ellis represented the seller, Kilroy Realty, in the $6.3 million transaction.
Voit Development Co. sold the final two buildings at Van Nuys Center at The Plant, a 788,800-square-foot manufacturing, warehouse and industrial park in Panorama City. The buildings included a 190,000-square-foot facility built for Jerry Leigh of California Inc., an apparel design and manufacturing firm, and a 110,000-square-foot build-to-suit for Veratex Inc., a bed linen manufacturer. Terms of the sale were not disclosed. Cushman & Wakefield represented Voit and Lee & Associates represented Jerry Leigh for the first transaction. For the Veratex transaction, Delphi Business Properties represented Voit and Grubb & Ellis represented Veratex. The Plan was developed as a joint-venture of Voit Development Co. and Selleck Development Group.
Morgan Skenderian Investment Real Estate Group brokered the sale of a 20-unit apartment complex in Costa Mesa to George Leeper of Newport Beach for $1.7 million. The 18th Street Apartments were owned by the Wu Family Trust of Westminster. Grant Hahn of Morgan Skenderian represented the trust; Michael Cherney of Star Real Estate represented Leeper.
The 161-unit Barkley Apartments LP in Anaheim was sold to Essex Property Trust of San Jose for $10.7 million. The Spiezia Corp. represented the seller, John Spiezia; CB Richard Ellis represented Essex. The property is on a ground lease with more than 80 years remaining.
WJR Communications purchased a 26,480-square-foot building in Irvine for $2.5 million. Greg Diab and Jack Haley of Prudential RB Allen Commercial Real Estate Services in Costa Mesa represented WJR.
LEASES
CT Realty Corp., Newport Beach, leased 110,000 square feet to Extron Electronics in Anaheim for 10 years. The lease, valued at $13 million, was closed after a $2.3 million redevelopment of the 131,000-square-foot property on Ball Road in the Anaheim Resort area. Mike Austin of Sperry Van Ness represented Extron Electronics; Mark Friend, Rick Warner and Bob Goodmanson from the Anaheim office of CB Richard Ellis represented CT Realty.
Four leases have been signed for office space at Two Venture Plaza in Irvine for a total value of approximately $1.4 million. Steve Economos of NAI Capital Commercial represented the lessor, Two Venture Plaza Office Inc., in all four transactions. Lessees include: Milliman & Robertson, which renewed a lease for 4,200 square feet for four years; TGF Linux Communications, which signed a five-year lease for 2,485 square feet; Southern Star Mortgage, which signed a five-year lease for 1,762 square feet; and Comm Strategies Inc., which signed a five-year lease for 1,289 square feet of space. Milliman was represented by Paul Meyer of Travers Realty; TGF was represented by Dana Davis of Swartz Commercial; and Steve Economos represented Southern Star and Comm Strategies.
Uniloc.com, a distributor of digital content, leased approximately 6,400 square feet at the Century 21 building on Beach Blvd. in Huntington Beach. Terms of the lease were not disclosed.
Grubb & Ellis, Anaheim, leased 41,569 square feet in Santa Fe Springs; 65,531 square feet in Commerce and 127,375 square feet in Fullerton. Bob Crenshaw, Lance Parker and Steve Sprenger brokered the deal in Santa Fe Springs; Steve Sprenger handled the deal in Commerce; and Jim McFadden completed the deal in Fullerton.
OTHER
The Montebello Unified School District selected the architectural design team of Anastacio Martinez and Ralph Allen Associates to modernize five elementary schools. The project, with a construction value of $5.4 million, will be led by Martinez, who recently joined Newport Beach-based JBZ Architecture + Planning.
Johnson Capital Group, Irvine, provided an $11 million loan for Otay Mesa-Hitachi Transportation, San Diego on behalf of Prudential Insurance Co. Majestic Realty Co., Industry, was the borrower.
