Real Estate Deals
Compiled by Yoko Ito-Peterson
Cardinal Development Co. paid $2.3 million for a 21,600-square-foot industrial property on 5.25 acres at 1215 Lambert Road in Brea. Ben Seybold of CB Richard Ellis’ Anaheim office represented Cardinal Development.
KTS Services acquired an 18,000-square-foot industrial building at 11132 Winners Circle in Los Alamitos for $1.6 million. In addition, Master Development sold a 46,353-square-foot corporate and manufacturing building at 5921 Skylab Road in Huntington Beach to Morgan Sheet Metal for $4 million. Brad Bierbaum, Bob Goodmanson and Brian DeRevere of CB Richard Ellis brokered the transactions.
Stellrecht Family Trust acquired a 32-unit apartment complex at 4922 Edinger Ave. in Huntington Beach from Atkinson Family Trust for $4 million. Will Allen and Jennifer Ahumada of Collins Commercial’s Irvine office represented both parties.
Advanced Real Estate Services Inc. paid $7.7 million for the 74-unit Glassell Gardens Apartments in Orange. Advanced plans to spend $1.2 million to upgrade the single-story apartment community. Rick Julian and Cray Carlson of Marcus & Millichap brokered the transaction.
Long Beach-based Bixby Land Co. bought an 82,474-square-foot industrial building in Fullerton Air Industrial Park from The Clifford Cos. for $5.2 million. The building is occupied by two tenants. Mail Well Inc., a global printing company, leases 39,274 square feet at 531 Airpark Drive, and LAT Sportwear, a clothing distributor, leases a 43,200-square-foot warehouse at 2356 Moore Ave. Louis Tomaselli, Mitch Zehner and Mike Boomer of Voit Commercial Brokerage’s Anaheim Metro office represented both parties.
Voit Development Co. paid $30 million to Birtcher Niguel for a 20-building, 246,825-square-foot office, industrial and R & D; park in Laguna Niguel. Rob Socci, Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage’s Anaheim office represented both parties.
Newport Beach-based Wattson Breevast LLC sold three acres of land in Reno to Toys R Us Inc. The retailer plans to build a 30,000-square-foot Babies R Us store in the 70-acre Fire Creek Crossing. It is set to open in the spring.
Sares Regis Group of Irvine sold the 158-unit Grouse Run apartments in Stockton to E.J. Williams Construction Co. of Stockton for more than $10 million. George W. Inskeep of Marcus & Millichap represented both parties.
Brookpark West Apts LLC sold the 184-unit Brookstone Apartments in Buena Park to Western Brookstone Partners LP, Irvine, for $17 million. Karoline Sauls and Margie Molloy of Hendricks & Partners represented both parties.
Ramona Investments purchased a 100,320-square-foot industrial building in Chino from Building Group for $5 million. Jedd Zaun of Lee & Associates’ Newport Beach office represented Ramona Investments.
LEASES
Experian Information Solutions Inc. leased 23,500 square feet at 2220 S. Ritchey St. in Santa Ana. The five-year contract was valued at $1 million. Kevin Cimino of The Staubach Co.-West represented Experian Information Solutions. Dennis De Meis and Chris Koceman of Southwest Commercial represented the landlord.
ChoicePoint Corp. preleased 33,600 square feet at a 67,000-square-foot building currently under construction at 1901 Alton Parkway in Irvine. The five-year contract was valued at $3.3 million. Rick Sherburne and Travis Boyd of CB Richard Ellis represented ChoicePoint.
Genlabs, a manufacturer and distributor of industrial cleaning supplies, expanded its lease into 115,677 square feet for its headquarters and manufacturing facility at Schaefer Industrial Park in Chino from Irvine-based CIP Real Estate. The 11-year lease was valued at $7.5 million. CIP Real Estate represented both parties.
Irvine Sensors Corp. expanded its lease into 42,000 square feet at The Esplanade in Costa Mesa from CIP Real Estate. The five-year lease was valued at $2.8 million. CIP Real Estate represented both parties.
StorageTek leased 11,796 square feet in Nexus Twin Towers at 1 MacArthur Place in Santa Ana from Imperial Promenade Associates for $2 million. The relocation is to house the company’s western region office personnel. Rick Sherburne and Travis Boyd of CB Richard Ellis’ OC office represented StorageTek. Imperial Promonade Associates represented itself by Jeff Bitetti.
OTHER
Smart & Final Stores Corp. continues to open new stores in the Southland, including a 22,451-square-foot store at The Irvine Company’s Walnut Village Center and a 17,333-square-foot shop at 3430 S. Bristol in Santa Ana. Jeff Moore and Scott Horsley of CB Richard Ellis brokered these transactions.
Irvine-based R. D. Olson Construction completed renovation of the historic Biltmore Bowl in Los Angeles. The project includes dividing the 13,000-square-foot space into a 4,000-square-foot foyer and 9,000-square-foot bowl designed to house 796 guests. The bowl has hosted high-profile events, including Democratic National Conventions and Grammy Awards.
Tustin-based DMK Inc. completed the tenant improvement for the California Pizza Kitchen at Hollywood & Highland in Hollywood. The 4,697-square-foot project entailed construction of the exterior fa & #231;ade and installing radius glass windows. It was designed by STDR Architects of Irvine.
