Pacific Property Co. paid $37.5 million to Morgan Stanley for the 245-unit Rancho Valencia apartment complex at 9155 Central Ave. in Garden Grove. Pacific Property represented itself. Sean Deasy and Ray Eldridge of CB Richard Ellis Inc. represented the seller.
Bergstroms Childrens Stores Inc., which runs stores in Anaheim and Irvine, paid $6.6 million to Newport Camino Plaza LP for the 18,000-square-foot Newport Camino Plaza shopping center at 13942 to 13982 Newport Ave. in Tustin. Jeff Chiate and Rick Ellison of Cushman & Wakefield Inc. represented the buyer. Ryan Litrich and Damon Wyler of Sperry Van Ness represented the seller.
O’Neil Product Development Inc. paid $2.1 million to Oxford Spectrum LLC for a 12,843-square-foot industrial building at 25652 Commercentre Drive in Lake Forest. Jeff Cannon of ZCA Inc. represented the buyer. Jan-Erik Palm of Spectrum Commercial Inc. represented the seller.
Guy and Marilyn Bonetati paid $1.9 million to R & E; Lind Family Trust for a 9,281-square-foot office condominium at 2020 N. Tustin Ave. in Santa Ana. Andrew White of CB Richard Ellis represented the buyer. Kimberly Ahlberg of Lee & Associates Commercial Real Estate Services Inc. represented the seller.
Luis Cresitelli paid $1.3 million to The Berkey Group for an 8,747-square-foot office building at 17321 Irvine Blvd. in Tustin. Cresitelli represented himself. Kimberly Ahlberg of Lee & Associates represented the seller.
DG-6 LLC paid $1 million to Faith Maxwell Business Park LP for a 5,530-square-foot office building at 470 Wald in Irvine. Doug Mathews of Grubb & Ellis Co. represented the buyer. John Marchiorlatti of CB Richard Ellis represented the seller.
Elizabeth M. Kiley paid $616,768 to Dave Bang & Associates for a 3,352-square-foot industrial building at 2681 Dow Ave. in Tustin. Eileen Schuler of Schuler Commercial Real Estate represented the buyer. Barry Knudson and Dave Desper of CB Richard Ellis represented the seller.
LEASES
Boise Cascade Corp. leased 311,237 square feet of industrial space at 7300 Chapman Ave. in Garden Grove. Terms of the deal weren’t disclosed. Bryon Ward of Grubb & Ellis Co. represented Boise, Idaho-based Boise Cascade and landlord Sudler Management Co. of Parsippany, N.J.
CompIQ Corp. leased 15,591 square feet of office space at 35 Tesla in Irvine. The five-year deal is valued at $1.6 million. The company, a software maker for workers’ compensation billing, is moving its headquarters from Lake Forest. Kimberly Ahlberg and David Whitney of Lee & Associates Commercial Real Estate Services Inc. represented the tenant. Dave Kluver and Nick Carey of Grubb & Ellis represented landlord One Tesla Way LLC.
CoreValve, a medical device maker that’s part of France’s CoreValve SA, leased 8,753 square feet of research and development space at 2 Jenner in Irvine. The three-year deal was valued at about $400,000. Sam Olmstead of Voit Commercial Brokerage LP represented the tenant. Chip Wright of CB Richard Ellis Inc. represented landlord The Irvine Company.
National Marrow Donor Program leased 5,505 square feet of office space in the Orange County Business Center at 1231 E. Dyer Road in Santa Ana. The value of the five-year deal was not disclosed. Rick Pincott of CB Richard Ellis represented the tenant. Cushman & Wakefield Inc. represented landlord PS Business Park LP.
No. 1 Pro Nails leased 2,456 square feet of retail space in the Gateway Village Center at Red Hill and Edinger in Tustin. The 10-year deal was valued at $1 million. Tom Gioia of Lee & Associates represented the tenant. Jack Anderson of California Commercial Brokers represented landlord The Tustin Barn LLC.
