Real Estate Deals
SALES
Orangefair Marketplace LLC, an arm of Columbus Pacific Properties, paid $31.5 million to Orangefair Co. of Beverly Hills for the 352,720-square-foot Orangefair Marketplace retail center at Harbor Boulevard and Orangethorpe Avenue in Fullerton. Tenants include Burlington Coat Factory, Marshalls and Circuit City. David Norcott and Bryan Norcott of Colliers Seeley International Inc. along with Howard Mann of JLM Realty represented both parties.
Irvine-based Western National Properties paid $15.25 million to Bascomb for the 160-unit Arbor Court Apartment Complex at 9950 Juanita Ave. in Cypress. John Walsh and Joe Berkson of Marcus & Millichap Real Estate Investment Brokerage Co. represented both parties.
The Irvine office of Santa Monica-based real estate investor Western States Technologies paid $4 million to Newport Beach-based EIC-TSI Investors for a 38,000-square-foot office building at 20162 Windrow Drive in Lake Forest. The building is home to a sole tenant, iBaset, a maker of software for the aerospace, defense, medical and other industries. EIC-TSI was represented by Gregg Haly of CB Richard Ellis Services Inc. Trent Walker of Voit Commercial Brokerage represented Western States.
Anaheim-based Don Miguel Foods Inc., a maker of Mexican food products sold at supermarkets, paid $2.9 million to Marlow Trust for a 39,661-square-foot industrial building at 1581 N. Main St. in Orange. Don Miguel, which makes frozen burritos, taquitos and other products, plans to use the new building to expand its food processing operation. Dan Patterson and Brad Christensen of Colliers Seeley represented Don Miguel. Mike Cargile and Mike Hefner of Voit Commercial Brokerage represented Marlow Trust.
Newport Beach-based J & P; Development paid $1.7 million to RCW Trust of Santa Barbara for Westminster’s Harbor Pacific Plaza at 14022 Springdale St., a 13,281-square-foot retail center that’s 93% leased. Charley Simpson and Dan Samulski of Grubb & Ellis Co. represented both parties.
William E. McCroskey Trust paid $1.2 million to SYS International for an 11,300-square-foot building at 6481 Global Drive in Cypress. David Cox of Ashwill Associates and Rick Hernandez of NAI Capital represented the McCroskey trust. SYS handled the deal itself.
LEASES
Hardware distributor Crown Bolt Inc. leased 23,456 square feet of flex office space at 26940 Laguna Hills Drive in Aliso Viejo for five years in a deal valued at $2 million. The company plans to relocate its headquarters from Cerritos to the new building. Clyde Stauff of Colliers Seeley represented Crown Bolt. Landlord Shea Properties, part of Walnut-based F. Shea Co., was represented by Gary Allen and Doug Mathews of Grubb & Ellis.
Forever Green Art, a seller of decorative plants, renewed its lease for 11,881-square-feet at 20382 Barents Sea Circle in Lake Forest for five years in a deal valued at $620,000. Kelly Kayl and Jeff Carr of CB Richard Ellis represented Forever Green. Jan-Erik Palm of Spectrum Commercial Inc. represented landlord Viking Investors Barents Sea LLC.
Cranel Inc., a Coumbus, Ohio-based maker of computer memory and storages products, renewed its lease for a 9,224-square-foot industrial facility at 23 Brookline in Aliso Viejo for five years in a deal valued at $660,000. Jan-Erik Palm of Spectrum Commercial represented Cranel and the landlord, Oxford Spectrum LLC.
OTHER
San Diego Ballpark Builders, a joint venture of Clark Construction Group Inc. of Irvine, San Diego’s Nielsen-Dillingham Builders and Douglas E. Barnhart Inc., resumed work on San Diego’s $450 million baseball stadium. The project was 20% done in late 23000 when the city of San Diego revised a financing pact, putting the project on hold.
