Compiled by Jonathan Reagan
SALES
Jamison Properties, a Los Angeles-based private investment group, paid $7.25 million to San Mateo-based Rancon Income Fund for a 52,311-square-foot medical office building at 2720 to 2740 Bristol St. in Santa Ana. Kevin Shannon, Jeff Hanson and Ryan Gallagher of Grubb & Ellis Co. represented both parties.
The Orange County Board of Education paid $5.13 million to the Church of Jesus Christ of Latter-day Saints for 5.7 acres of land at 15872 S. Harbor Blvd. in Fountain Valley. The Board of Education plans to build a high school on the land. Jerry Suich of Oxbridge Development Inc. represented the buyer. David Knowlton and Jake Bates of NAI Capital Commercial represented the seller.
LEASES
In one of two leases for automaker DaimlerChrysler AG, DaimlerChrysler Services North American LLC leased 24,560 square feet of office space at 7700 Irvine Center Drive in Irvine. Terms of the lease weren’t disclosed, though DaimlerChrysler is renewing at the Irvine Spectrum building. Equis Corp. represented the tenant. Orion Property Partners represented landlord American Spectrum Realty Inc.
In the second deal, DaimlerChrysler Motors Co. leased 19,640 square feet of office space at 7700 Irvine Center Drive in Irvine. Terms of the lease weren’t disclosed. Equis Corp. represented the tenant. Orion Property Partners represented landlord American Spectrum Realty.
