SALES
Mohawk Carpets has sold a 32,000-square-foot industrial building at 15977 Heron Ave. in La Mirada to Garfield International for $1.9 million.
Garfield International will use the building to replace existing space elsewhere.
Chris Coyte of Lee & Associates in Newport Beach and Elizabeth Hughes and Cliff Fincher of Lee & Associates in Orange represented Mohawk Carpets.
Kyle Lundy of CB Richard Ellis represented Garfield.
Scanmark Inc. has purchased a 126,336-square-foot corporate headquarters and distribution center in Rancho Santa Margarita from Connecticut General Life for more than $8 million.
The building originally was developed by The Brookhollow Group.
Scanmark will move from 44,000 square feet in Irvine, a building it sold to Newport Meat Co. in October 1999 for more than $3 million.
Scanmark will occupy 46,000 square feet of its new facility. The remaining space will be leased.
Don Yahn of Cushman & Wakefield’s Irvine office will handle marketing of the building. He also represented Scanmark, an importer and distributor of home and office furniture, in the deal.
CONTRACTS
Architectural firm LPA Inc. has been awarded a $25 million master plan contract by the Placentia-Yorba Linda Unified School District to renovate 12 public schools.
The Irvine-based company will work on: Mable Paine Elementary; Rose Drive Elementary; Fairmont Elementary; Tufree Middle School, Yorba Middle School; Bernardo-Yorba Middle School; Kraemer Middle School and Travis Middle School.
In addition, there are three high schools included in the project: Esperanza High School; El Dorado High School and El Camino Continuation High School.
The redesign and construction of Esperanza High School alone is valued at $10 million.
OTHER
CarrAmerica Development Inc., an affiliate of CarrAmerica Realty Corp., has started construction of a 55,000-square-foot build-to-suit for The Art Institutes at Harbor Corporate Park in Santa Ana.
The building will be the institute’s second school in the area. It will be named the Art Institute of Los Angeles-Orange County. Construction of the new school is scheduled to be completed in July.
Investment Development Services of Costa Mesa and the Jameson Co. of Newport Beach have started construction of a $16 million office campus in Rancho Santa Margarita.
The new Arbours Office Campus is at the northwest corner of Santa Margarita Parkway and Avenida Empresa. It ultimately will include 14 single-story buildings totaling 125,000 square feet.
The project’s first phase includes six buildings totaling 68,000 square feet. Those buildings are expected to be done by April.
Irvine-based Finova Realty Capital has arranged $7.45 million in financing for hotel projects in Georgia and New Jersey.
Atlanta Area Hotel Inc. received a $3.875 million loan from Finova to refinance its Guest House Inn in Atlanta. Guest House is a 172-room extended-stay hotel and is the second Guest House Inn financed by Finova.
The firm also arranged $3.575 million in financing for the Maywood, N.J.-based owners of Park Ridge Marriott in New Jersey. The proceeds are being used to pay off existing debt.
