Real Estate Deals
SALES
Irvine-based Granite Investment Group LLC paid $14 million to Fowler, Shore & Flanagan LLC for the 136-unit Lake Apartments in Fullerton. Granite plans to spend $1.4 million on upgrades in the next year and a half. The complex is 97% occupied. Jonathan Mitchell and Gordon Reese of Marcus & Millichap Real Estate Investment Brokerage Co. represented both parties.
Mercado Del Rio Investors paid $11 million to The Bascom Group of Irvine for Mile Square, a 100-unit apartment complex at 4800 McFadden Ave. in Santa Ana. Joe Leon of Hendricks & Partners represented the seller. Steve Heri of CB Richard Ellis Services Inc. represented the buyer.
Trabuco Marketplace LLC paid $2.8 million to Black Equities for a 51,023-square-foot parcel at 602 El Camino Real in San Clemente, which is set to house a Sav-On Drugstore. Fouy Ly and Barbara Sykes of Sperry Van Ness represented both parties.
The Erdtsieck Family Trust paid $2.3 million to Harold Neibling for a 31,863-square-foot industrial building at 2951 Saturn Street in Brea. Jim deRegt of Lee & Associates Co-mmercial Real Estate Services Inc. represented the seller. Chris Migliori represented the buyer.
Via Dolce Investments LLC paid $2 million to CHA/BIC Corp. for 3.9 acres of industrial land at 3650 Westminster Ave. in Santa Ana, which is leased for contractor storage. David Knowlton of NAI Capital Commercial Real Estate Services Inc. represented both parties.
Huntington Beach-based Summerwood Homes Inc. paid $1.1 million to the estates of Rosa Vuicich and Julie Komrosky for 3.86 acres at 4024 W. 5th St. in Santa Ana, where it plans to develop 22 homes. The project is expected to break ground in the fall and finish a year from now. Jerry Giglio of Grubb & Ellis Co. represented both parties.
LEASES
Lee Ah Sheng Enterprises Ltd., a maker of window coverings, leased 50,160 square feet of industrial space at 1300 N. Jefferson St. in Anaheim for six years in a deal valued at $1.8 million. Lee Ah Sheng and its 35 local workers were set to move from another spot in Anaheim last week. Chris Migliori of Daum Commercial Real Estate Services represented Lee Ah Sheng as well as landlord Bedecon Investments.
Ikon Powder, a powder coating company, leased 38,534 square feet of industrial space in Anaheim at 1375 N. Miller St. for five years in a deal valued at $1.1 million. William Griffith of landlord TCI Properties represented both parties.
Danbury, Conn.-based Ethan Allen Inc. leased 16,500 square feet of retail space at the Center at Rancho Niguel at 28031 Greenfield Drive in Laguna Niguel for 10 years in a deal valued at $3.7 million. The furniture retailer plans to open a store there in July. Ken Gould of Lee & Associates represented Ethan Allen. Mark Baziak and Bill Browne of Grubb & Ellis represented landlord Rancho Niguel II LLC.
Engineering consultant Camp, Dresser, & McKee leased 15,985 square feet at 18581 Teller Ave. in Irvine for undisclosed terms. Rich Essen at Cushman & Wakefield Inc. represented Camp, Dresser, & McKee. Landlord Equity Office Properties Trust was represented by the company’s Adam Boskovich and Tim Marchal.
Takagi Industrial Co. USA Inc., a Japanese seller of compact, tankless water heaters, leased 15,204 square feet of industrial space at 3 Goodyear in Irvine for three years in a deal valued at $450,000. Craig Fitterer of Lee & Associates represented Takagi. Trent Walker at Voit Commercial Brokerage represented landlord Irvine-based Western State Technologies.
Medical device maker GDL Inc. leased 12,012 square feet in an entire flex building at 9241 Irvine Blvd. in Irvine for five years. Tim Walker of Voit Commercial Brokerage along with Gregg Haly and Jeff Carr of CB Richard Ellis represented landlord Douglas Allred Co. Jack Hogan of Lee & Associates represented GDL.
First American Lending Corp. leased 9,418 square feet of space at 1100 Town & Country Road in Orange, where it plans to relocate its corporate headquarters from Santa Ana. Cory Napora of Resource Commercial Real Estate Inc. represented First American Lending in the five-year, $1.2 million lease. Landlord Equity Office Properties Trust was represented by Jim Harper.
OTHER
Newport Beach-based CT Realty Corp. started construction on a 32,000-square-foot, $1.7 million Storage Outlet facility at 8620 Hamilton Ave. in Huntington Beach. The project is being developed on a 2-acre power line easement owned by Southern California Edison. Storage Outlet signed a 30-year ground lease valued at $3.2 million.
