Compiled by Kelly Ryan
SALES
Undisclosed buyers paid $28 million to BR Birtcher Investments for the 156,991-square-foot Tustin Business Center. The 11-building property is at 14712 to 14662 Franklin Ave. and 2600 to 2680 Walnut Ave. in Tustin. The center is 95% full. Michael Hartel, Kevin Turner, Trent Walker and Mark Weeks of Voit Commercial Brokerage LP represented the buyer. Jim Morrison of Morrison Co. represented the seller.
An undisclosed buyer paid $5.9 million to OC1 Bush LLC for the 35,233-square-foot Summer Villas Senior Living Center at 2025 N. Bush St. in Santa Ana. The complex sold for $39,300 per room. The facility has 150 beds. Tom Nguyen of NAI Capital Inc. represented the seller.
An undisclosed buyer paid $4.1 million to Luby Trust for an 18,556-square-foot apartment complex at 203 S. Ohio St. in Anaheim. The 24-unit complex sold at a capitalization rate of 5.4%. Jay Skenderian and Ken Morgan of Morgan-Skenderian Investment Real Estate Group represented both parties.
Discount Tire paid $3 million to Fountain Valley Plaza Co. for the 7,927-square-foot auto repair building at 16142 Harbor Blvd. in Fountain Valley. The building sold for $380 per square foot. Fouy Ly of Sperry Van Ness represented the buyer. Polly Johnson and Matt Massman of Sperry Van Ness represented the seller.
Tower Systems paid $2.4 million to Coronado Investment Group LLC for a 14,555-square-foot office building at 17461 Irvine Blvd. in Tustin. The Coronado Building sold for $165 per square foot.
An undisclosed buyer paid $2 million to Blue Sky Legacy LLC for a 1,450-square-foot Starbucks building at 13172 Garden Grove Blvd. in Garden Grove. The building sold for $1,400 per square foot and was built last year. Starbucks occupies the entire building on a 10-year lease. Jeremy McChesney of Hanley Investment Group Real Estate Advisors represented both parties.
An undisclosed buyer paid $1 million to an undisclosed seller for a 2,008-square-foot office condominium at the Von Karman Medical Center at 17305 Von Karman Ave. in Irvine. The building sold for $500 per square foot. The buyer plans to occupy the space in October after improvements are made.
LEASES
Hyundai Motor Finance Co. leased 100,000 square feet of office space at 3161 Michelson in Irvine. Hyundai will occupy the top four floors of the 20-story office tower in spring. Peter Johnston, Stefan Khudic and Cori Caso of landlord Maguire Property Inc. represented their company. Donald Yahn of Cushman & Wakefield Inc. represented the tenant, the finance arm of Fountain Valley-based Hyundai Motor America Inc., itself part of South Korea’s Hyundai Motor Co.
Air and Water Inc. leased a 34,425-square-foot industrial space at 1100 Linwood Ave. in Santa Ana. The five-year lease is valued at $1.1 million. Scott Smith, Greg Diab and Jack Haley of Lee & Associates Commercial Real Estate Services Inc. represented landlord Kornland Building LLC. Voit Commercial Brokerage represented the tenant.
Total Woman Gym and Atmosphere Day Spa leased 13,785 square feet of retail space at Embassy Court at 910 E. Birch St. in Brea. Terms of the 10-year lease were not disclosed. The women’s fitness club and spa should open by the end of this year or early next year. Lonnie Riddle, Brian Lim, Vanessa Brown and Walter Pagel of Grubb & Ellis Co. represented landlord Nesbitt Partners. The tenant represented itself.
Robin Lucks leased 9,512 square feet of space at 1 MacArthur Place in Santa Ana. The seven-year lease is an expansion and relocation from the John Wayne Airport area for the law firm. Jeffrey VonStein and Royce Sharf of Studley Inc. represented the tenant. Landlord Nexus Cos. represented itself.
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.
