REAL ESTATE DEALS
SALES
Walnut Creek-based Sequoia Equities Inc. and San Rafael-based Rutherford Investments paid $66.3 million to Connecticut’s CIGNA/TimesSquare and San Diego-based Fairfield Residential for the 428-unit Alicante at Aliso Viejo Apartments at 27662 Aliso Creek Road in Aliso Viejo. Stan Jones of Marcus & Millichap Real Estate Investment Brokerage Co. in Palo Alto represented both parties.
Essex Property Trust of Palo Alto paid $58.2 million to Alexandria, Va.-based AvalonBay Communities for the 400-unit Huntington Villas apartments at 16761 Viewpoint Lane in Huntington Beach. The apartments are 93% full. Sean Deasy, Ray Eldridge and Chris Knowles of CB Richard Ellis Inc. represented both parties.
Costa Mesa’s Universal Motion Components Co., a maker of mechanical components for ships, trucks and irrigation systems, paid $4.3 million to Airway Properties LLC of Costa Mesa for a 52,493-square-foot industrial building at 2920 Airway Ave. in Costa Mesa. Universal Motion moved to the new building, a former FedEx Corp. facility, from a smaller one elsewhere in Costa Mesa. Greg Velastegui, John Griffin, Rob Socci and Joe Miller of Voit Commercial Brokerage represented both parties.
Newport Beach-based Hager Pacific Properties paid $3 million to David Wilson, owner of Toyota of Orange and Orange-based David Wilson Automotive Group, for a 50,000-square-foot industrial building on a three-acre parcel at 533 W. Collins Ave. in Orange. The building is fully leased to M2 Automotive and Andy Gump Temporary Construction Services. Allen Buchanan of Lee & Associates Commercial Real Estate Services Inc. represented the buyer. Casey Griffin of Trammell Crow Co. represented Wilson.
Joseph and Gladys Iniguez of Costa Mesa paid $1.9 million to Windsor Manor Apartments LLC of Buena Park for the 18-unit Windsor Manor Apartments at 7285 9th St. in Buena Park. Rick Applebaum and Jonathan Mitchell of Morgan Skenderian Investment Real Estate Group represented both parties.
Brite Ideas Inc. paid $1.3 million to Severson & Smith for a 10,261-square-foot industrial building at 27221 Burbank in Foothill Ranch. Tom Gilmer and Mike Baker of Lee & Associates represented the seller. Dave Kluver of Grubb & Ellis Co. represented Brite Ideas.
Racecar driver Carl Renezider paid $1.3 million to Aerosteel for a 10,160-square-foot industrial building at 26361 Dimension Drive in Lake Forest. Renezider plans to house racecars in the building. Dave Kluver and Garrett Sholer of Grubb & Ellis represented the seller. Bill Garrett of Lee & Associates represented the buyer.
Beauty West Inc., a marketer of cosmetics and other products, paid $1 million to Jarupa Properties for an 11,565-square-foot industrial building at 13891 Nautilus Drive in Garden Grove. Beauty West is relocating from Orange. Chuck Hardy of Lee & Associates represented the seller. Tom Mulrooney of Ashwill Associates Inc. represented the buyer.
DDL Investments LLC of Orange paid $620,000 to Octavian and Elena Condrea of Santa Ana for the five-unit Truslow Apartments at 222 E. Truslow Ave. in Fullerton. Grant Hahn of Morgan Skenderian represented both parties.
The Vogel Family Trust of Sunset paid $640,000 to Elliott Fund 85 Ltd. of Laguna Niguel for the five-unit Coral Apartments at 1917 E. Coral Ave. in Orange. Jay Skenderian and Rick Applembaun of Morgan Skenderian represented the seller. Don St. Jean of AIM Properties represented the buyer.
Carl and Candy Henderson Trust paid $547,520 to Wayne and Shirley Gemas for a 5,432-square-foot building at 17641 Sampson Lane in Huntington Beach. David Cox of Ashwill Associates represented the Henderson trust. John Eugh of Arrow Development represented the sellers.
LEASES
Wescom Credit Union leased 5,335 square feet of retail space at Sand Canyon Plaza in the Irvine Spectrum for a new branch. The 10-year lease is valued at $2.2 million. Tom Gioia of Lee & Associates represented landlord The Irvine Company. Paulette Tourmazos of Tiarna Real Estate Services represented Wescom.
Freedom Escrow leased 4,464 square feet of office space at 2 Civic Plaza in Newport Beach for five years in a deal valued at $700,000. Brian Childs of NAI Capital Commercial represented Freedom. Rick Wanderocke of landlord The Irvine Co. represented his company.
Dr. David Chamberlin leased 3,000 square feet of medical space at 15825 Laguna Canyon Road in Irvine for 10 years in a deal valued at $1 million. The office is in the new Irvine Medical Plaza recently built by Irvine Medical Holdings LP. John Bral of GVA Beitler Commercial Realty Services represented Chamberlin. John Wadsworth of Colliers Seeley International Inc. represented landlord Waterworks Partners LLC.
