SALES
Clark Management & Development LLC, Newport Beach, purchased 2.97 acres at 12200 Florence Avenue in Santa Fe Springs for $925,000. The company is constructing two industrial buildings on the site. Steve Sprenger and L.R. Sanders of Grubb & Ellis’ Anaheim office and John Hollingsworth of Grubb & Ellis’ San Gabriel Valley office represented Clark and the seller.
Burke Commercial Development purchased a 49,800-square-foot building at 12601 Western Ave. in Garden Grove from Subaru America Inc. The transaction was valued at more than $3 million. Wayne Lambert of The Seeley Co. represented both parties.
J.J. Figueroa purchased a 17,000-square-foot industrial building at 1330 E. Philadelphia in Pomona from Thomas W. Coen et al for $900,000. CB Richard Ellis represented the buyer and Eileen Schuler of Schuler Commercial Real Estate represented Coen.
Sima Noorhani purchased two 27,000-square-foot office buildings at 2020 and 2024 N. Broadway in Santa Ana from Karl C. Gresowski Trust. The transaction was valued at more than $1 million. A Better Team Realty represented the buyer and Eileen Schuler of Schuler Commercial Real Estate represented the seller.
S. Agan purchased a 37,585-square-foot auto and retail center at 2187 Sampson Ave. in Corona from E.J. Investments for $3.75 million. Grace Yoon of the Seeley Co. represented Agan and Jeff Conover of Faris Lee Investments represented E.J. Investments.
FLIT 1/Upland LLC purchased a 5,600-square-foot space at 7912 E. Foothill Blvd. in Upland from Bing Chi for $755,000. Jeff Conover of Faris Lee Investments represented both parties.
Furon Corp. completed its acquisition of the former Techmedia Computer Group building in Garden Grove for $13.75 million. Greg Ozimec, Mike Bouma and Alan Pekarcik of Voit Commercial Brokerage’s Irvine and Anaheim offices represented the trustee for the U.S. Bankruptcy Court on behalf of Techmedia. Roger Egge of CB Richard Ellis’ Newport Beach office represented Furon.
LEASES
Sky Garden Inc. d.b.a. Studio Soleil USA leased 13,100 square feet of industrial space at 12040 Western Ave. in Garden Grove in a transaction valued at $247,000. Dan Powers of CB Richard Ellis represented the clothing manufacturer and Scott Smith of CB Richard Ellis represented the landlord, the Schidler Group. L.C. Pringle Sales Inc. also leased 10,300 square feet of industrial space in the same building, in a transaction valued at $340,000. Bob Goodmanson and Scott Smith of CB Richard Ellis represented both the window-covering distributor and the landlord, the Schidler Group.
Coast National Insurance Co. leased five floors at 505 N. Euclid St. in Anaheim. The transaction is for five years for 54,855 square feet. Jeff Tabor of Corporate Realty Advisors represented the insurance company and Rick Warner of CB Richard Ellis represented the landlord, Brutoco Co.
Distributors Stock Farms Inc. leased the Minoo Industrial Building, a 52,691-square-foot industrial building at 12111 Florence Ave. in Santa Fe Springs. The transaction was valued at $1.5 million. Clif Fincher of Lee & Associates Orange Inc. represented the buyer and Eric Knirk represented the landlord, Fremont Properties.
Golden West Financial Services leased a 6,000-square-foot office building and adjoining 13,000-square-foot retail lot at 3130 Harbor Blvd. in Costa Mesa. The facility will house Golden West’s administration and its auto-leasing, equipment-leasing and real estate units. Gary Eschenroeder of Merdian Pacific represented Golden West in the transaction.
CONTRACTS
CB Richard Ellis Retail Services, Anaheim, has been selected to lease and market two South County retail developments. At Santa Margarita Marketplace, a 310,000-square-foot shopping center planned in Rancho Santa Margarita, Jeff Moore and John Mehigan will represent the landlords, K & G Equities and Regency Realty Corp. of Irvine. At Lake Forest Corridor Center, a 198,000-square-foot shopping center planned in Lake Forest, Blake Woodward, Jeff Moore, Dane MacDonald and John Mehigan will represent the landlords, Steadfast Properties of Newport Beach.
R.D. Olson Construction, Irvine, has won the contract to build a 143-room Staybridge Suites in Anaheim. The contract is valued at $11 million.
OTHER
Randall MacDougall of Dwyer-Curlett & Co., an OC-based mortgage banker, arranged the financing for Furst Enterprises to purchase Five Point Plaza, a 121,750-square-foot shopping center in El Monte, through Nationwide Life Insurance Co. The loan was valued at $5.5 million. MacDougall also arranged the financing on a lease for a 31,645-square-foot office building in Irvine through Nationwide Life. The loan was valued at $1.3 million. The building is fully leased to Nextel Communications. In addition, Robert Craven of Dwyer-Curlett arranged the financing for Chandler Real Properties to purchase five industrial buildings in Fountain Valley through Jefferson-Pilot Life Insurance Co. The loan was valued at $4.5 million.
Irvine-based Finova Realty Capital Inc., provided short-term financing to Bryant Development Corp. of Purchase, N.Y., for the acquisition of a 1.4 million-square-foot shopping-center portfolio in Austin, Texas. The transaction is valued at $98 million. Finova also serviced a loan to an El Cajon-based borrower for the refinancing of the 131-unit Westward Ho Manor, a transaction valued at $4.2 million. In addition, Finova serviced a loan to a Stockton borrower for the refinancing of Golden Hills Mobile Estates, a 223-site community in Porterville. That transaction is valued at $4.1 million.
Johnson Capital Group, Irvine, arranged the financing for Sycamore Canyon Plaza, a 119,016-square-foot retail center, through Prudential Insurance Company of America. The transaction was valued at $7.485 million. Johnson also arranged the financing for the Rosemont Park Apartments, a 170-unit complex, in a transaction valued at $7 million.
