SALES
Smart Real Estate purchased Foothill Center, a 19,591-square-foot strip center in Rialto for $820,000. Edward Hanley and Gregory Brown of Marcus & Millichap Real Estate Investment Brokerage Co. represented both the buyer and the seller in the transaction.
The Hume Family Trust purchased the 14,814-square-foot First Fidelity corporate headquarters in Tustin from a local trust for $2.6 million. Michael Lawrence of Marcus Millichap represented both parties in the transaction.
An individual investor has purchased Spires Restaurant in Orange for $1.03 million. Scott Hook of Marcus & Millichap of Newport Beach represented the seller, Northern Trust Bank. The 4,246-square-foot building is at 2848 N. Santiago Blvd.
The 121,750-square-foot Five Points Plaza in El Monte has been sold for $8 million to a limited partnership. The seller was Monte Mac No. 1, a California-based general partnership. Scott Hook and Michael Woolbright of Marcus & Millichap in Newport Beach represented the seller.
Ramesh and Hansa Bhagat have purchased The Sunset Inn in Gardena for $1.7 million from Western Gardena Hotel Co., which had owned the property since 1988. Park Weaver of Marcus & Millichap of Newport Beach represented both parties in the transaction. The inn is a 106-unit motel property at 15824 Western Ave. in Gardena.
LEASES
Geo-Logistics Inc., a global freight logistics company, has leased 24,962 square feet of office space in Santa Ana to relocate its world headquarters from Atlanta. Mike Merk of Grubb & Ellis’ Anaheim office represented Geo-Logistics in the transaction, and Barry Gail and David Dowd of Cushman & Wakefield represented the landlord, the Sares-Regis Group of Irvine.
CONTRACTS
San Diego-based Janez Properties has awarded Newport Beach-based Koll Construction LP an $8.8 million contract to build a Class A office project, Plaza Del Mar III, within the San Diego Corporate Center in Del Mar. The four-story, 118,000-square-foot office building will have 48,000 square feet of subterranean parking and will be adjacent to Janez Properties’ existing two-building, 120,000-square-foot Plaza Del Mar office complex.
Ware & Malcomb Architects, Irvine, was awarded the design of a 68,000-square-foot, five-story office building in Bakersfield by The Allen Group.
