SALES
Irvine-based Standard Pacific Homes purchased the Moncado Springs project in Vista from The Olson Co. for $16 million. Moncado Springs, off Highway 78 at Emerald Drive, includes 195 single-family residential lots. Roland Chavez and Craig Atkins of O’Donnell/Atkins Co.’s Costa Mesa office represented both parties.
A private Northern California-based investor purchased a three-story, 49,000-square-foot medical office building at 16100 Sand Canyon Ave. in Irvine from Costa Mesa-based Todd Boureston Development Inc. Ruby Simpson with Grubb & Ellis’ Ontario office and Tom Stroud with Collins Commercial’s Irvine office represented the buyer in the $12.65 million transaction, while Mark Larson of CB Richard Ellis’ Newport Beach office represented Boureston.
Shriji Enterprises bought a 55,000-square-foot industrial property at 1244 N. Anaheim Blvd. in Anaheim for $2,550,000 from Allied Building Products. Chris Migiliori of DAUM Commercial Real Estate Services’ Anaheim office represented both parties.
Color Digit purchased a 11,380-square-foot building at 23281 Vista Grande in Laguna Hills for $1.2 million. Mark Jerue and Ted Rommeel of Lee & Associates’ Irvine Spectrum office represented Color Digit. Jan-Erik Palm of Spectrum Commercial in Aliso Viejo represented the seller, Viking Investors.
Newport Beach-based Cabrillo Park LLC/Red Mountain Retail Group sold Cabrillo Park, a 73,5000-square-foot shopping center, to a Mexican investor for $6.8 million. Carlos Lopez of Faris Lee Investments in Irvine represented Cabrillo Park and Jack Faris of Voit Commercial’s Anaheim office represented the buyer.
GE Capital sold Brea Canyon Business Park in Walnut to CIP Real Estate for $5.4 million. The five buildings totaling 78,989 square feet are at 565 Brea Canyon Road, 515 Spanish Lane, and 20947, 20957 and 20971 Currier Road. Peter Lee and John Hollingsworth of Grubb & Ellis represented CIP, and Peter Beauchamp of Voit Commercial Brokerage and John Engh of Arrow Development negotiated for GE Capital.
D.R. Horton purchased a residential property within the masterplanned community of Orangecrest Country in Riverside from Communities Southwest. Mackey O’Donnell, Mike Hunter, and Paul Grover of Costa Mesa-based O’Donnell/Atkins Co. represented Communities Southwest.
RREEF acquired Koll Tech Center in Carlsbad from Koll Development Co. and Guardian Life Insurance Co. Koll Tech Center is a 109,184-square-foot manufacturing and industrial building on Palomar Airport Road. Charles J. McNary II of Coldwell Banker Commercial represented RREEF in the transaction.
LEASES
STERIS Corp. signed a 10-year lease of 9,983 square feet of office space from Shea Properties. The office is at 26800 Laguna Hills Drive in Aliso Viejo. Doug Matthews of Grubb & Ellis’ Newport Beach office represented Shea, and Dave Desper of CB Richard Ellis’ Newport Beach office represented STERIS.
North County Toyota signed a 15-year lease valued at more than $6 million with Price James Associates for its dealership at 1331 N. Euclid Ave. in Anaheim. Allen M. Segal of Collins Commercial represented both parties.
OTHER
Kensington Real Estate Group selected Coreland Carlson of Tustin to manage Jamboree Promenade. The 60,000-square-foot center is at the corner of Jamboree Road and Dupont Drive in Irvine.
Orange made a $1.36 million loan to Urban Pacific Partners II LP to build a 20-unit affordable apartment community called Stonegate Senior Apartments on Prospect Avenue in the city.
