SALES
The Irvine Company purchased the 171,979-square-foot Palm Court at 15616 to 15635 Alton Parkway in Irvine from Connecticut General Life Insurance Co. The Irvine Co. represented itself. A. Martin Morgenstern, Rick Hamilton, Jon Nesbitt and Rick Kaplan of Cushman Realty Corp.’s OC office represented Connecticut General.
Ullrich Co. bought 13 net acres on Malvern Avenue in Fullerton from LSF II for $8.2 million. Bob Sattler of Lee & Associates represented Ullrich. Tom Dorman and Bob Goodmanson of CB Richard Ellis represented LSF II.
Newport Beach-based Koll Development Co. purchased a 13.71-acre parcel in Arizona from EJM Development for $4.6 million. Bob Lundstedt of Insignia ESG represented both parties.
Heitman Holdings acquired a 22,600-square-foot industrial building at 29922 Avenida de las Banderas in Rancho Santa Margarita from Bram Development for $2.1 million. Bryan Miller of Lee & Associates’ Orange office and Craig Fitterer of Lee & Associates’ Irvine office represented Heitman. Jay Mast and John Matus of Lee & Associates, Irvine, represented Bram.
George and Sonia Naddour bought the 40,459-square-foot Rialto Freeway Business Park in Rialto from Rialto Freeway Business Park LLC for $1.4 million. Greg Diab and Jack Haley of Lee & Associates’ Orange office represented George and Sonia Naddour. Stephen Wong of S & D; Associates represented Rialto Freeway Business Park LLC.
Jamboree Management acquired the eight-unit Avenida Madrid Apartments at 245 Avenida Madrid in San Clemente from Risley Family Trust for $1.2 million. Bart Tucker of Jamboree Realty represented Jamboree Management. Jennifer Esser and Robert T. Sacks of Sperry Van Ness represented the trust.
Douglas Fisher purchased a 20,000-square-foot low-rise at 615 W. Civic Center Drive in Santa Ana from Mohammed Ghods for $1.6 million. Mike Austin of Sperry Van Ness represented Fisher. Kenneth Lai of Sperry Van Ness represented Ghods.
California Property Investments bought the 166,616-square-foot Cabrillo Park office building at 1901 E. First St. in Santa Ana from Harpo LLC for $13.5 million. Gil Marrero of Voit Commercial represented California Property Investments. Gary Pesner and Mike Austin of Sperry Van Ness represented Harpo LLC.
Royale Mission Viejo LLC acquired a 80-bed psychiatric facility at 23228 Madero in Mission Viejo from Red Dog Properties LLC for $6.4 million. Stephen Grossman of Lee & Associates’ Newport Beach office represented Royale Mission. Mike Austin of Sperry Van Ness’ Irvine office represented Red Dog Properties.
LEASES
Automobile Club of Southern California leased a 68,708-square-foot building at 14700 Hoover St. in Westminster from Sares-Regis. The five-year lease was valued at $2.7 million. Brad Bierbaum, Bob Goodmanson and Brian DeRevere of CB Richard Ellis represented Sares-Regis.
First Franklin Financial Corp. subleased 10,097 square feet at Irvine Technology Center at 320 Commerce in Irvine from Nexgenix Inc. The two-year contract was valued at $0.4 million. Steve Card of Travers Realty represented First Franklin Financial Corp. Chip Wright and Barry Knudson of CB Richard Ellis’ Newport Beach office represented Nexgenix Inc.
OTHER
Aliso Viejo-based Shea Properties will develop the 277-unit Acacia on Santa Rosa Creek apartment community in Santa Rosa. The project was valued at $44 million. The community features eight floor plans ranging from 630 square feet to 1,271 square feet.
L.J. Melody & Co. arranged financing in $37 million for the 1,129,800-square-foot Mission Business Park in Ontario. Times Square Real Estate Investors provided financing for Western Realco. Ron Cox of L.J. Melody’s Newport Beach office and Brian Halpern of the firm’s Los Angeles office represented L.J. Melody & Co.
