Real Estate Deals
SALES
Newport Beach-based Newport Federal paid $39 million to IRP Muller Associates LLC, a venture of Laguna Hills-based Muller Co. and ING Capital Advisors LLC, for 292,223 square feet of office space in Cypress. The sale includes the five-building Cypress Pointe Office Park at 5785-5856 Corporate Ave. and the Cypress Corporate Plaza at 10805 Holder St. Alan Pekarcik, Dan Vittone and Rob Mitchell of Voit Commercial Brokerage represented Newport. IRP Muller represented itself.
San Francisco-based investment company Bayou Ranch Co. paid $8 million to Pullman Associates for a 106,000-square-foot industrial building at 2801 Pullman Ave. in Santa Ana. The building is leased to carpet maker Fabrica International, which has been there for 15 years. John Griffin, Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage represented both parties.
Lee Gittleman paid $5.2 million to 2900 S. Harbor LLC for the 44,000-square-foot Staples building at 2900 S. Harbor Blvd. in Santa Ana. The office building is full with tenants including a regional headquarters of Staples Inc., Orange County Head Start Program and Gateway Learning Corp. Mike Austin of Sperry Van Ness in Irvine represented both parties.
Larkspur-based F & F; Partners sold the 13,954-square-foot Parc Monaco office building in Laguna Beach to a private investor for $3.7 million. The two-story property, at 32392 Pacific Coast Highway, is full. Garrett Sholer and David Kluver of Grubb & Ellis Co.’s Newport Beach office represented the seller with the buyers representing themselves.
Yorba Linda McCormick Business Park Partners bought Boardwalk 550, also known as 550 North Parkcenter Drive, in Santa Ana for $2.2 million from CT Realty Corp. The 18,144-square-foot, class B office building was built in 1982. Phil Fridd of Lee & Associates Commercial Real Estate Services Inc. represented the buyer. Al Pekaracik, Rob Mitchell, and Dan Vittone of Voit Commercial Brokerage and Chris Latta of Lee & Associates represented the seller.
Orange Investment Partnership of Buena Park paid $2.1 million to an unnamed family trust for a 19,271-square-foot office and industrial facility at 3587-3589 N. Harbor Blvd. in Costa Mesa. Among the tenants is Marmac Field Services, an engineering firm. Chris Migliori of Daum Commercial Real Estate Services represented the buyer. Mike Miesenbach and Brian Garbutt of Lee & Associates represented the seller.
Santa Ana-based Staff Pay paid $1.4 million to Douglas Allred Development Co. for a 12,012-square-foot industrial building at 9241 Irvine Ave. in Irvine. Chris Deason and Tim Walker of Voit Commercial Brokerage represented both sides.
Trask Development LLC paid $643,451 to LGCS Real Estate Group LLC for a 7,373-square-foot building at 10592 Trask Ave. in Garden Grove. David Cox of Ashwill Associates Commercial Real Estate Services Co. represented the seller. Greg Silver of All Points Investments represented the buyer.
LEASES
Fairfax, Va.-based Cort Business Services Corp. leased a 32,235-square-foot industrial building at 1190 N. Anaheim Blvd. in Anaheim for seven years in a deal valued at $1.4 million. Brian Corrigan and Nick Roussos of Voit Commercial Brokerage represented landlord the O’Donnell Group of Newport Beach. Troy Williams of Grubb & Ellis Co. represented Cort, a provider of business furniture, trade show booths and relocation services.
Atlanta-based engineering company Mactec Inc. renewed its lease for 12,412 square feet of office space at Colton Plaza, 2171 Campus Drive, in Irvine. Terms weren’t disclosed. Mactec has been in the Colton Co.-owned building since 1998. Chon Kantikovit and Adam Wicker of Grubb & Ellis’ Newport Beach office represented Mactec. Colton represented itself.
