Real Estate Deals
Costa Mesa-based Bay Harbor Management paid $7.7 million to Park La Habra LLC for the 120,796-square-foot Park Lambert business park at Lambert Road and Harbor Boulevard in La Habra. The park, built in 1986 and remodeled two years ago, is full. The largest tenant is Mercury Casualty Insurance Co. Mike Lawrence of Marcus & Millichap Real Estate Investment Brokerage Co. represented Bay Harbor.
Lollipop Land Co. paid $5.4 million to Irvine-based Wohl Investment Co. for two buildings in Lake Forest’s Dimension Business Park. One building, at 26212 Dimension Drive, is a 21,114-square-foot flex-tech facility that is 97% leased. The other, at 26242 Dimension, is a 24,163-square-foot flex building that’s 68% leased. Jimmy Vames, Paul Caputo, Michael Bouma and Michael Hefner of Voit Commercial Brokerage represented both parties.
Law Building Investment Properties paid $5 million to Garg Data International Inc. for a 26,482-square-foot, three-story office building at 3737 Birch St. in Newport Beach. The building is 36% full. Garg Data, a technology investor and incubator, plans to still occupy the first floor. Law Building Investment plans to take second and third floors. Kelly Givens of Julien J. Studley represented Law Building Investment. Philip Cohen and Linda Barden of CB Richard Ellis Services Inc. represented Garg Data.
Warren Wincorn paid $3.5 million to Yorba Linda East Partners Ltd. for the 19,530-square-foot Lakeview Center retail building at 18533-18549 Yorba Linda Blvd. in Yorba Linda. Tenants include Stater Bros. and Gymboree Corp., which plans to close its Play & Music site. George Arce of Centers Dynamic represented Wincorn. Nicholas Coo and Rich Walter of Faris Lee Investments represented Yorba Linda East Partners.
Newport Beach investor Sam Ayoub paid $2.9 million to Peter W. Evans for the 24-unit La Costa Apartments at 354 Avocado St. in Costa Mesa. Steven C. Brombal with Hendricks & Partners Inc. represented both parties.
Business insurer Industrial Risk paid $1.7 million to Hutton Development Co. for a 9,658-square-foot, two-story office at 1611 E. 17th St. in Santa Ana. The company is moving from 17821 E. 17th St. in Tustin. John Manion with NAI Capital Commercial Real Estate represented Industrial Risk. Phil Fridd with Lee & Associates Commercial Real Estate Services Inc. and Lynn Dort with Meridian Pacific Commercial Real Estate represented Hutton Development.
Pepperidge Holdings LLC, part of architectural firm MSA Associates LLC, paid $1.2 million to Jack Millikan for an 8,500-square-foot office building at 1800 E. Deere Ave. in Santa Ana’s Amberwood Office Park. The firm is relocating from Irvine. Charles Stos and Larry Schuler from CB Richard Ellis represented both parties.
Newport Beach-based CT Realty Corp. paid as $9.3 million to Alcott Estates LP for the 25-acre Valley Plaza Town Center in El Centro east of San Diego. CT plans a $4 million renovation of the 315,034-square-foot office and retail center.
LEASES
Altura Communicaton Solutions LLC, the former phone systems unit of Fujitsu Ltd. that was bought out by Los Angeles-based Platinum Equity LLC, leased 42,440 square feet of space at 2890 E. White Star Ave. in Anaheim. Altura, which counts about 80 OC workers, plans to move its headquarters from the Irvine Spectrum. Jeff Turek of the Klabin Co. and Kathy Bellinger of Jackson & Cooksey represented Altura.
Landlord Bedrosian Freeway Business Center was represented by Rick Ellison and Jeff Chiate of Cushman & Wakefield Inc.
Alteer Corp., a venture-backed provider of software for doctors, leased 16,357 square feet at 4 Venture in the Irvine Spectrum. The move is an expansion, doubling Alteer’s space and consolidating operations from 4 and 6 Venture. The lease is valued at $1.3 million. Bob Kehiayan of Suncoast Properties represented landlord Barranca Courtship. Kim Josephson and Omar Dowd with Real-Tech represented Alteer.
Insurance company Keenan & Associates leased 9,061 square feet at 901 Calle Amanecer in San Clemente’s Pacific Pointe Corporate Centre. The five-year deal is valued at $1.1 million. Randolph Mason of Lee & Associates represented the tenant. Jeff Carr of CB Richard Ellis represented landlord and Pacific Pointe developer Olen Properties Corp. of Newport Beach.
In another deal at 901 Calle Amanecer in San Clemente, Ukiah, Calif.-based National Medical Registry leased 8,871 square feet at Pacific Pointe Corporate Centre. The company is moving its local operations from 32240 Paseo Adelanto in San Clemente. The five-year lease is valued at $1 million. Keith Black, Jeff Carr and Jim Menconi of CB Richard Ellis represented National Medical and Olen Properties.
Also at Pacific Pointe Corporate Centre, Total Home Inc. leased 2,209 at 903 Calle Amanecer in a three-year deal valued at $164,614. Keith Black and Jeff Carr of CB Richard Ellis represented both parties.
