Real Estate Deals
Newport Beach-based Saunders Property Co. paid $17.9 million to Laguna Hills-based Birtcher Property Services and New York-based Praedium Funds for Buena Park Commerce Plaza, a 155,384-square-foot office complex at 6301 Beach Blvd. Jeff Hanson and Gregg Herbert of Grubb & Ellis Co. represented both parties.
University Marelich Mechanical paid $2.3 million to The French Co. for a 24,384-square-foot building at 1000 N. Kraemer Place in Anaheim. University Marelich Mechanical, a mechanical contractor, had leased the building. Mitch Zehner, Louis Tomaselli and Nick Roussos of Voit Commercial Brokerage represented the seller. Ian Britton of CB Richard Ellis Services Inc. represented University Marelich.
John W. Wong paid $2 million to Noxsel Investments for a 24,026-square-foot medical office building at 1020 S. Anaheim Blvd. in Anaheim. Jason Phillips, Michael Lawrence and Joseph Lising of Marcus & Millichap Real Estate Investment Brokerage Co. represented both parties.
Newport Beach-based Master Development Corp. sold a 26,215-square-foot industrial building in the Otay Mesa area of San Diego for $1.7 million to American Frame Manufacturing. Charlie Adolphe of Burnham Real Estate Services represented the buyer. Erik Parker, Louay Alsadek, and Darren Mullins of BRE Commercial/NAI represented Master Development.
Teles Properties paid $6.9 million to Laguna Hills-based IRP Muller Associates LLC for a 50,351-square-foot office building at 1470 S. Valley Vista Drive in Diamond Bar. Camilo Fabros of Insignia ESG represented the buyer. Jeffrey Cole, Rick Putnam and Ron Heim with Trammell Crow Co. represented IRP Muller.
Pinnacle Buena Park LLC paid $6.6 million to CrossHost Inc. for the 117-room Vagabond Inn on Mission Bay Drive in San Diego. Oliver Shah and Robert Feist of Atlas Hospitality Group’s Costa Mesa office represented both parties.
Newport Beach-based CT Realty Corp. sold a 69,743-square-foot office building at 4640 Lankershim Blvd. in North Hollywood to Zaya Younan for $11.5 million. CT bought the building in 1998 for $7.8 million. Nick Tatevossian represented Zaya Younan, while Trevor Belden and John Battle of Lee & Associates Commercial Real Estate Services Inc. represented CT Realty.
LEASES
Costa Mesa’s Iron Grip Barbell Co. leased 34,116 square feet of warehouse space in the Clauset Business Park at 4012 Garry in Santa Ana. The five-year deal is valued at $1.3 million. Jim Snyder and Greg Velastegui of Lee & Associates represented Iron Grip. Jim Snyder of landlord RREEF represented his company.
Optima Information Solutions, a unit of Centex Corp., leased 12,681 square feet of space at 1700 Carnegie Ave. in Santa Ana. The lease is for five years. Financial details weren’t disclosed. Optima, which provides property reports and other real estate data, plans to move in January. Dave Howard with Resource Commercial Real Estate Inc. represented Optima. Phil Cohen of CB Richard Ellis represented landlord Kilroy Realty Corp.
The 99cent Depot leased 11,500 square feet of space in the Euclid Plaza Anaheim. The deal is valued at $900,000. Youssef Ibrahim of Premier Commercial Brokerage represented Euclid Plaza. Mary Boyajian of Muller Commercial Real Estate represented the tenant.
IBC, a computer refurbishing company, leased 9,760 square feet of industrial space at 7217 Chapman Ave. in Garden Grove for three years. Financial terms weren’t disclosed. Chris Rim of Ashwill Associates Commercial Real Estate Services Co. represented IBC. Frank Adler and Jeff Hirsch of Lee & Associates represented landlord the Goodwin Co.
