REAL ESTATE DEALS
Compiled by Helen Afrasiabi
SALES
New York-based Teachers Insurance & Annuity of America paid an estimated $40 million to CB Richard Ellis Strategic Partners Fund for the 198,161-square-foot office tower at 3 Hutton Centre Drive in Santa Ana. Bob Smith, Michael Kane, Jeff Morgan and John Weiner of CB Richard Ellis Inc. represented both parties.
Santa Ana-based private investor First Standard Real Estate LLC paid $8.6 million to Prism/Birch St. Associates LLC for a 140,000-square-foot industrial building at 2530 S. Birch St. in Santa Ana. Scott Read and Bryon Ward of Grubb & Ellis Co. represented both parties.
Tustin-based private investment group DeAnza Plaza Properties paid $7.1 million to a private family trust for the 56-unit La Palma Woods apartments at 2520 La Palma Ave. in Anaheim. Mike Gormley of Real Estate Alliance represented the buyer. Jerry Giglio and Chris Giglio of Grubb & Ellis represented the seller.
The Olson Trust paid $5 million to Nieuport Investments for the 24-unit The Apartments at 324 E. 20th St. in Costa Mesa. Steven C. Brombal and Peter Hauser of Hendricks & Partners represented both parties.
A private family partnership paid $4.7 million to Irvine-based investor and developer Dolphin Partners for a 40,322-square-foot office building at 30211 Avenida de las Banderas in Rancho Santa Margarita. Rick Gill and Maury Panza of Collins Commercial Corp. represented both parties.
The Mahboubian Family Trust paid $4.6 million to Anaheim Hills Property Association of Los Angeles for the 31,880-square-foot Anaheim Hills Health Plaza medical building at 5475 La Palma Ave. in Anaheim. Bob Caudill and Matt Didier of Grubb & Ellis represented the seller. Holly Hakimian of Extar Co. represented the buyer.
Private investor Nima Taghavi paid $4 million to Crescent Corporate Center LLC for the 25,890-square-foot flex building at 1900 W. Crescent Ave. in Anaheim. Greg Ozimec, Rob Socci, Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage represented both parties.
LEASES
Mortgage banking firm Barrington Capital Corp. leased 18,560-square-feet of office space at 5000 Birch St. in Newport Beach. The five-year deal is valued at $2 million. Michael Dorsey of Grubb & Ellis represented the tenant. John Weiner of CB Richard Ellis represented landlord Cornerstone Real Estate Advisors of Los Angeles.
Ultimate Staffing Inc. renewed its lease for 9,588 square feet of office space at 333 City Blvd. in Orange. The five-year deal is valued at $1.1 million. Rick Sherburne, Alex Hayden and Travis Boyd of CB Richard Ellis represented the tenant. Landlord Equity Office Properties was represented by its Jim Harper.
Wells Fargo Bank leased 5,020-square-feet of office space at 27732 Vista Del Lago in Mission Viejo. The 10-year deal is valued at $2.1 million. Jim Duke of CB Richard Ellis represented the tenant. Tom Gioia of Lee & Associates Commercial Real Estate Services Inc. represented landlord Birtcher Anderson Properties.
