SALES
An undisclosed party in Anaheim, represented by Mike Austin of Sperry Van Ness, bought property at 1001 E. Ball Road, Anaheim, from CT Realty for approximately $1.7 million. CT Realty was represented in-house by Rick Warner.
Nathan S. Krems Living Trust of Marina del Rey and Helen Krems Testamentary Trust of Los Angeles bought an 11,238-square-feet property at 700 S. Sepulveda Blvd. in Manhattan Beach from PDP-WAMU Partners LLC of Beverly Hills for $3.8 million. The trusts were represented by Robert Haro of Red Leaf Retail. PDP-WAMU Partners was represented by Todd Carson of Sperry Van Ness.
Michael Siegal bought a 54,000-square-foot multi-tenant industrial complex at Sherman Way in Corona from Sherman Avenue Business Park LLC of Newport Beach for $3.02 million. Siegal was represented by Allen M. Segal and David Williams of Collins Commercial, and the seller was represented by Scott Ostlund of Lee & Associates of Ontario.
LEASES
Insuretrade.com leased 11,653 square feet of office space on Harbor Blvd. in Santa Ana for its corporate headquarters from Crossroad Mortgage of Utah. The provider of Internet connectivity services to the commercial insurance industry has already occupied its new space. David Brakesman and Simon Dillon of Grubb & Ellis Co. represented both parties. Terms of the transaction were not disclosed.
Acoustical Material Supply leased 32,262 square feet at the Bedrosian Freeway Business Center in Anaheim. The seven-year lease is valued at $2 million. AMS was represented by Mitch Zehner of Voit Commercial Brokerage. The lessor, Larry Bedrosian, was represented by Jeff Chiate and Rick Ellison of Cushman & Wakefield’s Irvine office.
Sonitrol Gold Coast leased 3,045 square feet at 15707 Rockfield in Irvine. The 18-month lease was valued at $106,880. Sonitrol was represented by Dave Howard of GVA Beitler Tenant Advisory Group, and the landlord was represented by Mary Laurer of Banyan Associates.
Shea Properties has concluded two leases at Seacliff Village shopping center, which is being rebuilt. Staples Office Supply leased 23,942 square feet, with construction of its store slated to begin in mid-June and be completed in September. Tortilla Beach Caf & #233; leased 6,000 square feet, with construction of its space set to begin in August. The $45 million shopping center at Golden West Street and Yorktown Avenue in Huntington Beach will total 258,000 square feet at buildout.
OTHER
Charles Dunn Real Estate Services Inc. was awarded two new management contracts for apartment complexes in Orange County and Los Angeles. Jerry Wang, senior vice president at the Los Angeles property management office, conducted the negotiations for both: the 184-unit building in Buena Park owned by Brookpark West Apartments LLC and a 142-unit-building in the mid-Wilshire district of Los Angeles owned by Virgil Tower Apartments LLC.
L.J. Melody & Co. arranged floating-rate acquisition financing totaling $13.32 million for Ocean Park Plaza, a 94,000-square-foot, two-story garden office building at 2701 Ocean Park Blvd. in Santa Monica. GE Capital Corp. provided the financing through Bob Morey of L.J. Melody’s Los Angeles office, who acted on behalf of Build America LLC.
Johnson Fain Partners will design two new administrative office buildings at Amgen Center in Thousand Oaks.
Pacific Bell was named the preferred communications provider for Forster Highlands, a 618-home masterplanned community in San Clemente being developed by Laing Forster Ranch LLC, a partnership of John Laing Homes and Institutional Housing Partners. The homes, which are expected to open early this summer, will include Internet, entertainment and telephone service options, including DSL service and DirecTV satellite programming.
Johnson Capital Group’s Irvine office has arranged $14 million in an acquisition and repositioning fund for the Lakes at Welleby apartment property in Florida. The loan is structured to provide the client flexibility in repositioning.
