Bank Union sold a 28,313-square-foot building to Irvine Old Town LLC for $3.5 million. The office building, known as the Historic Warehouse, is in North Irvine’s Old Town Irvine complex. Gene Shook of ITC Real Estate Group represented Bank Union.
Aliso Viejo Associates sold the 18,284-square-foot Aliso Creek Market Center in Aliso Viejo to a private investor for $3.73 million. Edward Karagozian of Collins Commercial Corp. represented both Aliso Viejo Associates and the buyer.
Country Estates General Partnership purchased Six Vanderbilt, a 15,437-square-foot, single-tenant industrial building in the Irvine Spectrum. Evets Corp. sold the property for $1.4 million. Michael Lawrence of Marcus & Millichap represented Country Estates.
CT Sherman LLC sold Sherman Avenue Industrial Park to Sherman Avenue Business Park LLC for $2.425 million. The 54,000-square-foot, two-building industrial park is in Corona. Michael Lawrence of Marcus & Millichap represented CT Sherman.
JLM Corp. purchased the Bolsa Chica Shopping Center from Tempest Equities for $1.86 million. Tempest Equities has owned the 16,000-square-foot property in Huntington Beach since 1965. Gregory S. Brown and Edward B. Hanley of Marcus & Millichap represented Tempest in the transaction and Michael R. Woolbright of Marcus & Millichap represented JLM.
Brookhollow Industrial Properties finalized the sale of Building D of the Mid-Tech Project to Gene and Diane Anawalt. The new owners are relocating from Irvine to occupy the 11,810-square-foot flex building. The sale is valued at $1.28 million. The Mid-Tech Project is composed of seven buildings totaling 138,520 square feet. CB Richard Ellis’ Ted Snell, Tyler Mattox, John Desper and Mark Larson represented Brookhollow, while Dennis Highland of Lee & Associates represented the Anawalts.
SC Plaza Bonita LLC purchased Plaza Bonita, a 15,437-square-foot office building in San Clemente, for $1.7 million. Michael Lawrence and Garrett Sholer of Marcus & Millichap represented the seller, Plaza Bonita LLC. Lawrence also represented the buyer.
LEASES
PaineWebber signed a $20 million lease for 40,000 square feet of space in Newport Beach. The company will move into the office building when construction is complete in April 2000. Tim Helgeston of Cushman Realty represented PaineWebber and Mike Santley of Irvine Office Co. negotiated for The Irvine Co.
Wind River Systems Inc. signed a five-year lease for 17,000 square feet of office space in Irvine from LBA VF III. The company will relocate from Newport Beach beginning next month. John Wadsworth of The Seeley Co. represented Wind River and Jack McNutt of Grubb & Ellis represented the landlord.
Fort Worth, Texas-based Mayfare Infrastructure Service Corp. subleased the fifth floor of an office building in Costa Mesa from Comp Review. John Rice of Fort Worth’s Stone, Leigh, Huff, Brouse, & McDowell represented Mayfare, while Steve Economos and Michael Props of Capital Commercial/NAI represented Comp Review.
Pulte Home Corp. signed a 4 1/2-year lease for 10,886 square feet of office space within the First Security Bank Building in Irvine. Pulte, which mainly does general contracting for residential homes, will relocate from Tustin next month. John Gallivan of Cushman Realty Corp. represented Pulte, while Adam Boskovich and John Weiner of CB Richard Ellis represented the owner, World Trade Center Building Inc.
T.D. Services leased 21,222 square feet at Colton Midtown Plaza in Santa Ana from Colton Capital Corp. The five-year lease was signed for $1.44 per square foot. Chris Latta of Lee & Associates represented T.D. Services and Leslie Trammel represented her firm, the landlord.
ColorMax Technologies Inc., a company that manufactures a line of products to aid those with color blindness, recently leased 12,000 square feet of space in Tustin. The five-year lease was valued at over $570,000. Tom Harrison of Trico Realty represented the landlord and Marty Caputo of Corporate Properties Inc. represented ColorMax.
Reserve Truck Lines Inc. leased 24,000 square feet of industrial space in Buena Park from Seymour Lehrer. The total consideration was $820,000 for a five-year lease. Chris Migliori and David Freitag of DAUM Commercial Real Estate Services represented the landlord and Fred Scuncio of DAUM represented Reserve Truck Lines, Inc.
Gene Industrial leased 30,436 square feet of industrial space in Placentia from Bedecon Investments. Steve Pelletier and Thomas McAllister of CB Richard Ellis represented Bedecon and Chris Migliori of Daum Commercial represented Gene Industrial.
IJNT.net, an Internet access and telecommunication service provider, leased an 11,286-square-foot building in Newport Beach from Cannery Village Realty. The property will house the company’s legal and human-resources offices and the Man Rabbit House web development subsidiary. Howard Wells represented his firm, the landlord, as well as the tenant in the transaction.
Princeton Graphic Systems, a producer of high-definition electronic displays, signed a 10-year lease valued at $4.8 million. The company will relocate its headquarters to the 82,755-square-foot property in Santa Ana. The site is under construction and completion is due by the third quarter of 2000. Biff Smith of Collins Commercial Corp. represented the landlord, while Jim Snyder and Chris Coyte of Lee & Associates represented Princeton.
