REAL ESTATE DEALS
Compiled by Helen Afrasiabi
SALES
Atlanta’s Wells Real Estate Investment Trust Inc. paid $25.6 million to Lend Lease Real Estate Investments Corp., also of Atlanta, for the 134,000-square-foot Fairway Center II office building at 675 Placentia Ave. in Brea. The building is fully leased to CNA Financial Corp.’s Continental Casualty Co. and Phoenix American Insurance Group.
Laguna Niguel-based Ferrucci Properties paid $9.2 million to Laguna Woods-based Highpoint Town Center LLC for the 48,015-square-foot Town Center Courtyard office building at 24361 El Toro Road in Laguna Woods. The center is full. Mike Austin of Sperry Van Ness represented the buyer. Highpoint Town Center represented itself.
Schmidt Investments LP paid $6.4 million to Newport Beach-based CT Realty Corp. for the Arbors office building at 2101 and 2103 E. Fourth St. in Tustin. Carl Greenwood and Jim McKenzie of Greenwood & Sons represented Schmidt Investments. Rob Mitchell, Alan Pekarcik and Dan Vittone of Voit Commercial Brokerage represented CT Realty.
The Fountain Valley School District paid $6 million to VMA Crossroads LLC for the 43,000-square-foot Crossroads Office Park at 265 S. Anita Drive in Orange. Steve Economos of NAI Capital Commercial Real Estate Services represented the district. Mark Larson of Grubb & Ellis Co. represented VMA Crossroads.
Mickey Motors LLC paid $5.7 million to Steadfast Properties for a 25,240-square-foot office building at 20377 Acacia St. in Newport Beach. Suzanne Richie and Steve Ehrich of Charles Dunn Co. represented Mickey Motors. Gil Marrero of Voit Commercial Brokerage represented Steadfast.
A local private investor paid $4 million to another private investor for the Buena Casa apartment complex at 8071 Seventh St. in Buena Park. Steve Heri and Cara Weichman of CB Richard Ellis Inc. represented the buyer. Grant Hahn of Morgan Skenderian Investment Real Estate Group represented the seller.
Morally Properties paid $3 million to Alta Bellwood Hospitals Inc. for a 32,176-square-foot office building at 6850 Lincoln Ave. in Buena Park. Morally Properties’ California Paramedical & Technical College is moving from Long Beach to Buena Park. Scott Frazier of CB Richard Ellis represented the buyer. Kevin Leonard of Healthwest Realty Advisors represented the seller.
Rigay and Manda Deshmukh paid $607,500 to Boodman-Gordon Investments for a 4,516-square-foot industrial building at 7201 Garfield Ave. in Huntington Beach. David Cox and Chris Rim of Ashwill & Associates represented both parties.
LEASES
CapitalWerks LLC subleased 20,546 square feet of office space at 5 Hutton Center Drive in Santa Ana. The four and a half year deal is valued at $1.5 million. Steve Lane of Voit Commercial Brokerage and Jeff Turek of The Klabin Co. represented CapitalWerks, an equipment financier. Rick Sherburne and Travis Boyd of CB Richard Ellis represented sublessor NextiraOne LLC, a Houston-based telecommunications company.
LoanNow Financial leased 9,224 square feet of office space at 2010 Main St. in Irvine. The five-year deal is valued at $1.2 million. Chris Deason and Brian Pezzolla of Voit Commercial Brokerage represented the lessee. Landlord Equity Office Properties was represented by Tim Marchal.
