REAL ESTATE DEALS
Compiled by Adrienne Erazo
SALES
Dolphinshire LP paid $8.5 million to Irvine-based Colton Properties for a 54,249-square-foot office building at 23461 S. Pointe in Lake Forest. Jeff Hanson and Ryan Gallagher of Grubb & Ellis Co. and Adam Wicker and Dave Smith of Lee & Associates Commercial Real Estate Services Inc. represented the buyer. Bob Smith of CB Richard Ellis Inc. represented the seller.
Philip deCarion paid $6.9 million to Crestmark Laguna Niguel Investors for a 23,597-square-foot office building at 29982 Ivy Glenn Drive in Laguna Niguel. Phil Vorhees, Pat Scruggs and Gary Stache of CB Richard Ellis represented both parties.
RMC/Tracy LLC paid $5.8 million to Fist Management Co. for the 18-unit Eastbluff Townhome Apartments at 837 to 871 Amigos Way in Newport Beach. Steven Brombal of Hendricks & Partners represented both parties.
Betty Chu paid $3.8 million to Callahan, McKune and Willis LLP for a 22,982-square-foot office building at 111 Fashion Lane in Tustin. August Wen of Century 21 Real Estate Corp. represented the buyer. Chris Latta and Kimberly Ahlberg of Lee & Associates represented the seller.
James Calder paid $1.5 million to Rhombus Industries Inc., a maker of transformers, inductors and other magnetic components, for a 12,000-square-foot industrial building at 15801 Chemical Lane in Huntington Beach. Rhombus is leasing the building for a month. Chris Rim of Ashwill Associates Inc. represented both parties.
1681 Kettering LLC paid $1.5 million to Costa Mesa-based Guthrie Development Co. for a 10,156-square-foot industrial building at 1681 Kettering in Irvine. The building will serve as the headquarters of GA Services LLC, a computer support company. Gary Allen of Grubb & Ellis represented the buyer. Sean Ahern of Lee & Associates represented the seller.
Newport Beach-based Integral Partners LLC paid $58.2 million to Palo Alto-based Essex Property Trust Inc. for the 230-unit Palermo apartment complex at 1501 Front St. in downtown San Diego. Both companies represented themselves.
LEASES
Boost Mobile LLC, a wireless phone service marketer that’s part of Nextel Communications Inc., leased 27,113 square feet of office space at 8845 Irvine Center Drive in Irvine. The company is moving from elsewhere in Irvine in November. The 5-year deal is valued at $3.2 million. John Gallivan of Cushman & Wakefield Inc. represented Boost. Ted Rommel of Lee & Associates represented landlord Image Holding.
First Bank leased 23,252 square feet of office space at 1 Technology Drive in Irvine. The 5-year deal is valued at $1.8 million. Greg Franz of Pacific Meridian Real Estate Group represented the tenant. Gary Gerson of landlord The Irvine Company represented his company.
