Compiled by Kelly Ryan
SALES
Costa Mesa-based Burke Real Estate Group paid $10.2 million to Herd Partnership for the 79,926-square-foot Cedargrove Business Park at 13311 to 13341 Garden Grove Blvd. in Garden Grove. The park consists of four buildings spread on 5 acres. Michael Hefner and Paul Caputo of Voit Commercial Brokerage LP represented the buyer. John Gates of Central DeAnza LLC represented the seller.
Crimson Property Holdings paid $7.1 million to Peter DeBest for a 30,741-square-foot office building at 3050 Birch St. in Brea. The building sold for $233 per square foot. The buyer plans to occupy the building with an engineering firm. Ron Heim of Cushman & Wakefield Inc. represented the buyer. Rick Warner and Sean Ward of CB Richard Ellis Group Inc. represented the seller.
Abdelmuti Development Co. paid $6.2 million to an undisclosed seller for a 10,793-square-foot retail center at 166 to 167 Avenida del Mar in San Clemente. The center features six single-tenant retail stores. The property sold for $600 per square foot, a record price for San Clemente retail. Jack’s Surf & Sport is expected to open its sixth Orange County store next year at the center. David Knowlton of NAI Capital Inc. represented the buyer. Dennis Weisberg and Steven Bunge of Marcus & Millichap Real Estate Investment Services Inc. represented the seller (see story page 7).
Los Angeles-based SLJJ LLC paid $1.9 million to the Lee family for the 8,300-square-foot Leff Center at 16539 to 16555 Leffingwell Road in Whittier. The recently remodeled strip center sold with two vacancies, no rent guarantee and a capitalization rate of 5.1%. Ron Duong of Marcus & Millichap represented the seller.
Ayres Group paid $1.8 million to Schaumburg Trust for a 10,000-square-foot industrial building at 1353 Logan Ave. in Costa Mesa. The building sold for $182 per square foot. David Sanford of Newport Apartment Group represented the buyer. Al Ricci of Ricci Realty represented the seller.
LEASES
Specific Media Inc. leased 38,250 square feet of office space at 4 Park Plaza in Irvine. The online advertising firm is taking a second floor at Jamboree Center. Terms of the lease were not disclosed. Tim Helgeson and Greg Tippin from Newmark Knight Frank Real Estate Advisors represented the tenant. Landlord The Irvine Company represented itself (see Real Estate column page 21).
Los Angeles-based Alliance Bank leased a 25,125-square-foot office building at 1901 Main St. in Irvine. The 127-month lease was valued at $10.2 million. Harty and Michael Coppin of Voit Commercial Brokerage represented landlord Piedmont Operating Partnership, a subsidiary of Piedmont Office Realty Trust. Bret Merz and Jeff Shepard of Cresa Partners represented the tenant.
Please send real estate deals to deals@ocbj.com or to Orange County Business Journal, Attention: Deals, 2600 Michelson Drive, Ste. 170, Irvine, CA 92612. For sales, please list buyer and seller, sale price, square footage, building type, address and names of brokers and brokerages involved in the deal. For leases, please include tenant name, amount of square footage leased, type of space leased, value and duration of lease, address, landlord and brokers and brokerages involved in the deal.
