Compiled by Chris Hannigan
Glenborough Realty Trust of Northern California paid $20.5 million to Mammoth Equities LLC of San Juan Capistrano for Saddleback Financial Center, a 72,980-square-foot medical and professional office building at 24012 Calle De La Plata in Laguna Hills. The four-story building is 92% full. Dan Vittone and Alan Pekarcik of Voit Commercial Brokerage LP represented both parties.
CIM Urban REIT Properties I LP, part of Los Angeles-based CIM Group, paid $7.3 million to CT Realty Corp. of Newport Beach for Santa Ana Civic Center, a 36,354-square-foot, four-story office building at 500 W. Santa Ana Blvd. in Santa Ana. A five-story parking garage also was part of the deal. The building is about 80% full. Al Pekarcik of Voit Commercial Brokerage represented CIM. CT Realty represented itself.
An undisclosed investor paid $5.6 million to Shen Living Trust for a 32-unit apartment building at 12558 Nelson Ave. in Garden Grove. The apartments sold for $175,000 apiece. Michael Cavner of Investment Property Group represented the buyer. Charlie Kennedy of Healstone Investment Real Estate represented the seller.
Pacific West Association of Realtors paid $5.2 million to Robert Stovall Family Partnership LP for a 22,000-square-foot office building at 1601 E. Orangewood Ave. in Anaheim. The building sold for $240 per square foot. The Realtors group got a $50,000 price cut to cover the cost of improvements and plans to occupy the building, which was empty. Glenn Hellyer of Glenn Hellyer Real Estate represented the buyer. Michael Hefner of Voit Commercial Brokerage represented seller.
Stanton’s CR & R; Waste and Recycling Services paid $2.4 million to Luis Alcazar for a 13,090-square-foot industrial building at 7592 Orangewood Ave. in Stanton. Bob Goodmanson of CB Richard Ellis Group Inc. represented the buyer. Jack Haley of Lee & Associates Commercial Real Estate Services Inc. represented the seller.
Hampton Ventures Broadway LLC paid $1.3 million to an undisclosed seller for 23,447 square feet of land at 1521 W. Broadway in Anaheim. Greg Diab and Jack Haley of Lee & Associates represented both parties.
Anaheim-based Gateway International Holdings Inc., a manufacturing holding company, leased a 10,000-square-foot office and manufacturing building at 2672 Dow Ave. in Tustin. The five-year lease is valued at $2.1 million. The building formerly was used by British defense contractor Meggitt PLC, which recently combined sites in Tustin, Fullerton and Irvine in the Irvine Spectrum. Jeff Williams of Voit Commercial Brokerage represented Gateway. Chip Dever, Pat Remolacio and John Carpenter of Colliers International represented the landlord.
Please send real estate deals to deals@ocbj.com or to Orange County Business Journal, Attention: Deals, 2600 Michelson Drive, Ste. 170, Irvine, CA 92612. For sales, please list buyer and seller, sale price, square footage, building type, address and names of brokers and brokerages involved in the deal. For leases, please include tenant name, amount of square footage leased, type of space leased, value and duration of lease, address, landlord and brokers and brokerages involved in the deal.
