Turner Development Corp., Newport Beach, purchased the 38,450-square-foot, three-building flex-tech Freeway Business Center on Pullman Ave. in Santa Ana. John Griffin of Voit Commercial Brokerage’s Irvine office represented both the buyer and the seller, Newport Beach-based CT Realty, in the $4.3 million transaction.
A private investor purchased North Park Plaza, a 145,000-square-foot medical office complex on 14 acres in Santa Ana. The transaction was valued at $8.85 million. The sale also included three acres of developable land. Jeff Hanson of Grubb & Ellis’ downtown Los Angeles office and Gregg Herbert of the firm’s Newport Beach office represented the buyer and the seller, SAMAC Ltd.
The French Co., Irvine, purchased office and medical buildings in the 800 block of Magnolia Ave. in Corona. The seven buildings included in the transaction total 69,993 square feet and sold for approximately $5.6 million. John Bosko and Keith Walters of the Charles Dunn Co. represented French Co. in the transaction. Steve Russell, Michael Lawrence and Garrett Sholer of Marcus & Millichap represented the seller, Nakano International.
Alcone Marketing Group purchased 4 Studebaker in the Irvine Spectrum for $8.35 million from Futaba Corp. of America. Alcone will relocate from another Irvine Spectrum location to the 91,723-square-foot building. Jim Cunningham, senior vice president at Grubb & Ellis’ Newport Beach office, represented Futaba. Christine Bowen of Lee & Associates represented Alcone.
Crane Family Trust purchased 11700 Monarch St. in Garden Grove. The 95,320-square-foot industrial building, part of the Garden Grove Industrial Park, sold for $5.4 million. Wayne Lambert of Colliers Seeley Co. represented the buyer; Clyde Stauff, also of Colliers Seeley, represented the seller, CP/HERS Garden Grove LP.
LEASES
Wild Oats Market, a Denver-based natural foods supermarket, signed a 20-year lease for 25,160 square feet of retail space in Laguna Niguel for a new store. The store, in the Plaza de La Paz shopping center, will open next month. Ian Brown and Walter Pagel of Grubb & Ellis’ Newport Beach office represented the landlord, Laguna Niguel Investors. Mike Metzger of Sierra Pacific Retail Group represented the tenant.
Ware & Malcomb Architects, Irvine, signed a lease with GE Investments for office space in the new 10-story Lakeshore Towers on Von Karman Avenue in Irvine. Ware & Malcomb, which designed the building, will occupy the space in July.
Mimi’s Caf & #233; signed a 10-year lease for 25,000 square feet in Fullerton. Mimi’s was scheduled to occupy the space, near Cal State Fullerton, beginning May 1. Jeff Read and Troy Williams of Grubb & Ellis represented the landlord, Operon Group. Tom McAllister of CB Richard Ellis represented Mimi’s Caf & #233;.
Balboa Instruments leased the 120,800-square-foot industrial building at 1382 Bell Ave. in Tustin. Balboa Instruments is relocating from Costa Mesa. Michael Hartel and Tim Joyce of Colliers Seeley represented the landlord, C2H2. John Rothwell of Daum Commercial Real Estate Services represented the tenant.
Fabnet, a manufacturer of metal goods, signed a 5-year triple net lease for 14,875 square feet at 1600 East Miraloma Ave. in Placentia. Heidi Chew of CB Richard Ellis represented the owner. Fabnet represented itself.
Valentino Collection, a statue import business, signed a 42-month sublease of 14,972 square feet on Shannon St. in Santa Ana. Marc and Greg Ozimec of Voit Commercial represented both the previous sublessor, Sound Advance Systems, and Valentino.
OTHER
Dwyer-Curlett & Co., Newport Beach, arranged $1.8 million in financing for an industrial development in Costa Mesa. Rowin F. Jacobs and James P. Osgood of Dwyer-Curlett, arranged the deal for the borrower, Ashwill Family Limited Partnership. The property is at 2013 and 2035 Placentia Ave. and consists of a five-building industrial development on 2.3 acres. The company’s Orange County office also arranged $1.9 million in construction financing through First Regional Bank for a 50,000-square-foot building in Moreno Valley. Rowin F. Jacobs arranged the financing for the borrowers. In a third deal, Dwyer-Curlett arranged $1 million in financing through the Canada Life Assurance Co. for a 22,985-square-foot industrial building in Laguna Hills. Jacobs and Osgood arranged the financing for the borrowers, Diamond Pace Partners Ltd.
Newport Capital Advisors, a real estate finance firm, arranged $4.9 million in financing through 1st Bank of Arizona N.A for a newly formed joint venture partnership, Mescal Partners LLC. The company will use the funds to acquire a 48,000-square-foot medical office complex in Scottsdale, Ariz.
Douglas E. Barnhart Inc., a San Diego-based construction management firm, was chosen by the city of Mission Viejo to manage the new City Hall project. The company will work in partnership with the city and LPA Architects to manage the design and construction of the 47,750-square-foot facility that is slated to be complete next year.
Kluger Kollin Architects Inc. was chosen to design and construct a new academic support building by the Prentice School, a private school in Tustin catering to the needs of dyslexic children in grades K-8. The majority of construction is scheduled to be complete this summer.
