SALES
Turner Development sold a 62,970-square-foot leased industrial building in the city of Industry to 1210 N. Tustin Partners LLC. Jedd Zaun, a senior vice president at the Newport Beach office of Lee & Associates, represented the buyer in the $3.9 million transaction. Voit Commercial Brokerage represented Turner.
JAS Corp. purchased two industrial buildings in Placentia. The purchase, totaling 28,946 square feet, was valued at $2.246 million. The company will distribute home fixtures from the locations. Both of the newly constructed buildings were sold prior to the completion of construction. Steve Crane of Lee & Associates-Orange represented the JAS and Allan Buchanan and Bryan Miller, also of Lee & Associates, represented the seller.
Acacia Construction Inc. sold approximately 17.3 acres in Murrieta entitled for 284 apartment units to Murrieta 301 West LLC. The gross sale value was approximately $3.6 million. Rolland H. “Pete” Jolliff of Jolliff Financial Corp., Long Beach, represented both parties in the transaction.
Je’Maris, a food products company, purchased 30331 Esperanza, a newly constructed industrial building at the Esperanza Business Center in Rancho Santa Margarita. Esperanza RSM Associates sold the 15,520-square-foot building for $1.3 million ($83.76 per square foot). Je’Maris was represented by Thomas Gilmer of Lee & Associates. Ted Snell and Tyler Mattox of CB Richard Ellis represented Esperanza RSM Associates. The deal closed within weeks of the building’s completion in November.
Triple Net Properties, Santa Ana, on behalf of TMP Mission Trace LLP, announced the sale of a portion of Mission Trace Shopping Center, Colorado Springs, Colo. The 50,000-square-foot, free-standing building at Mission Trace was sold to Solid Rock Christian Church. Chris Barnett and Scott Gray of Sullivan Hayes represented TMP Mission Trace in the transaction. In addition, Triple Net, along with NNN ‘A’ Credit TIC LLC and affiliated investors announced the acquisition of the Pueblo Shopping Center in Pueblo, Colo. The106,264-square-foot shopping center is 97% occupied. Leslee Y. Superchi of the Trammell Crow Co. represented Triple Net and Merrill Lynch Credit Corp. provided the financing.
Carmenita Plaza, a 44,000-square-foot office building in Norwalk, was purchased by an affiliate of Pacific Industrial Partners, based in Encino and Newport Beach. The four-story building is occupied by the Los Angeles County Department of Public Social Services (Computer Services Division). The seller, KD Partnership, was represented by Ted Konopisos of TheoPacific Corp. Mike Austin of Sperry Van Ness acted on behalf of the buyer. The sale price was not disclosed.
A local private investor purchased a 16,220-square-foot industrial building in Fullerton as a leased investment. The transaction was valued at $1.3 million. The facility, which is 100% leased, was sold by Strategic Industrial Holdings of Newport Beach. Michael Finley and Rick Hill of Grubb & Ellis’ Anaheim office represented SIH and Jack Faris of Voit Commercial Brokerage represented the buyer.
Collins Commercial Corp. negotiated the $5.4 million acquisition of a 35,085-square-foot office building in Newport Beach on behalf of a private investor, Lynn Burnett. The two-story building is on 2 acres fronting the San Joaquin Hills (73) Toll Road. The building will be partially occupied by Burnett as his new corporate headquarters. Burnett was represented by Maury Panza and Al Segal of Collins Commercial; Eric Paulsen and Bob Smith of CB Richard Ellis represented the seller.
LEASES
LFR Levine-Fricke signed a lease agreement for 11,844 square feet of office space within South Coast Executive Center in Costa Mesa. The firm will relocate its Orange County offices from Irvine in February. Royce Sharf, corporate managing director of the Orange County office of Julien J. Studley Inc., represented the tenant in the transaction. The landlord, CarrAmerica, was represented by Dave Whitney of Lee & Associates. The lease agreement is valued at approximately $1.8 million.
Saxon Mortgage Inc. expanded and relocated its Orange County office from Laguna Hills to Foothill Ranch, signing a lease agreement for 14,760 square feet of office space for $1.5 million. Royce Sharf and Scott Granger of the Orange County office of Julien J. Studley represented Saxon in the transaction; the landlord, Carlyle Realty, was represented by Greg Haly of CB Richard Ellis.
Standard Pacific Corp. leased a 33,000-square-foot, two-story office property in the Irvine Spectrum to be the headquarters for the corporate organization as well as the Orange County division. Tom Greubel managed the transaction for Irvine Industrial Co. Terms were not disclosed.
CONTRACT
Kraft/Fullerton Foods Inc. has selected Orange-based Asher Industries Inc. as general contractor for the expansion of its Oscar Mayer “Lunchables” production facility in Fullerton. The $4.7 million design-build contract will involve the construction of a 25,000-square-foot, 40-degree production building with a cafeteria and training rooms, and the extension of the existing finished product freezer by 10,400 square feet. Rick Fox, AIA, of Stratos Form in Tustin and Howard Parsell, S.E. in Yorba Linda provided the design and engineering services. The project is being managed for Kraft by Tom Ingram and Larry Sherman.
OTHER
Pazanti Home Mortgage moved its headquarters to 301 Main St., Suite 207 in Huntington Beach.
Finova Realty Capital, Irvine, in three transactions, provided financing totaling $18.6 million for office projects in Kentucky, Georgia and Florida.
