SALES
Preservation Partners Development and Jamboree Housing Corp. paid $24.8 million to the Lee Revocable Intervivos Trust for the 180-unit Belage Manor Apartments at 1660 W. Broadway in Anaheim. The apartments sold for $137,777 each. The buyers are renovating the apartments and plan to lease most of them as affordable housing. Anaheim Housing Authority Multifamily Housing Revenue Bonds were issued for the acquisition and renovation. Michelle Jefcoat and Raymond Eldridge of CB Richard Ellis Group Inc. represented the seller. The buyers represented themselves.
WRJ LLC paid $8.4 million to Loomis Partnership No. 2 for a 51-unit apartment building at 8702 Valley View Street in Buena Park. The apartments sold for $163,725 each. Albert Le, John Stephens and John Nguyen of Marcus & Millichap Real Estate Investment Services Inc. represented both parties.
Graybeard Too LLC of Solana Beach paid $7.8 million to Heinze Family Trust for a 32,040-square-foot industrial building at 20291 Valencia Circle in Lake Forest. The building sold for $242 per square foot. The buyer plans to occupy the building. Jeff Carr and Stephen Wagner of CB Richard Ellis represented the seller. Mark Zuvich of Zuvich Corporate Advisors represented the buyer.
Altemus Co. paid $3.5 million to Southland Equities for a 4,333-square-foot retail center at 14090 to 14108 Redhill Ave. in Tustin. The center sold for $814 per square foot and is full with three tenants on long-term leases. Eric Wohl and Edward Hanley of Hanley Investment Group represented the seller. Altemus represented itself.
Burcaw Chiropractic Inc. paid $1.7 million to Pridemark Properties for a 12,326-square-foot medical office building at 1651 E. Edinger Ave. in Santa Ana. The building sold for $138 per square foot with a capitalization rate of 5.82%. Geoffrey DeWolf of NAI Capital Inc. represented the seller. Tomas Burcaw of Alden Management Group represented the buyer.
Mark and Kristine Woods paid $1 million to Gothard Business Center Ltd. for a 4,388-square-foot industrial building at 7261 Mars Drive in Huntington Beach. The building sold for $230 per square foot. The buyers plan to run their contracting business from the building. Fred Spitskeit of Ashwill Associates Inc. represented the seller. Jacqueline Starbird of Southwestern Real Estate represented the buyers.
Beacon Point Surgery paid $658,714 to NMP WA LLC for a 2,000-square-foot medical office condominium at 408 S. Beach Blvd. in Anaheim. Judy Belland, Ron Mittens and Robert Kehiayan of Investment R/E Source Inc. and Remm Group represented the seller. Kehiayan also represented the buyer.
LEASES
Direct Edge Screenworks Inc. leased 20,026 square feet of office and distribution space at 430 W. Collins Ave. in Orange. The five-year lease is valued at $840,000. Ross Bourne of CB Richard Ellis represented the tenant. Doug Shinoda of Ashwill Associates represented landlord Bland Huffman.
California Grill leased 1,200 square feet of retail space at 119 S. Harbor Blvd. in Santa Ana. The 10-year lease is valued at $422,571. Mary Goss, Judy Belland and Robert Kehiayan of Investment R/E Source and Remm Group represented the tenant and landlord Harbor Square Partners.
Jewelers on Time leased 1,178 square feet of retail space at 149 Riverside in Newport Beach. The five-year lease is valued at $262,656. Mary Goss, Judy Belland and Robert Kehiayan of Investment R/E Source and Remm Group represented landlord Mariners LLC.
