SALES
Sav-Most Desert Rancho LLC bought the 55,282-square-foot Summit Plaza at 23272-23282 Mill Creek in Laguna Hills from Capital Pacific Holdings for $9.6 million. Al Pekarsik and Rob Mitchell of Voit Commercial Brokerage represented Sav-Most. Jeff Hanson and Gregg Herbert of Grubb & Ellils’ Newport Beach office represented Capital Pacific.
Western States Technologies Inc.’s Irvine office purchased a 26,000-square-foot property in the Irvine Spectrum at 1 Oldfield from Morgan-Alton Ltd. for $3 million. John Matus and Christine Bowen of Lee & Associates’ Irvine Spectrum office represented both parties.
Greystone Homes acquired one of the last remiaining undeveloped parcels in Rancho Santa Margarita from the University of California for $1.9 million. Guy Thull of the The Hoffman Co. represented both parties.
Gary K. Weise bought the 24,557-square-foot Richfield Industrial Park at 1700 Barcelona in Placentia from Cundiff Steel Fabricating for $ 2 million. Chris Migliori of Daum Commercial Real Estate represented Weise. Tom Gilmer of Lee & Associates-Orange represented Cundiff.
Bonin Investments purchased a 42,535-square-foot building at 955 Columbia St. in Brea from Voit Cal Portfolio Partners I LLC for $3.1 million. Louis Tomaselli and Mitch Zehner of Voit’s Anaheim Metro office represented the seller.
Stivers Investment Co. acquired a 43,566-square-foot flex-tech office building at 8 Hughes in Irvine from Alton Irvine Partners for $9.8 million. Scott Martin of Charles Dunn represented Stivers Investment Co. John Martin and Jim Cunningham of Grubb & Ellis’ Newport Beach office represented Alton Irvine Partners.
The West Coast Islamic Society bought a 20,832-square-foot office building at 1717 Brookhurst St. in Anaheim from Sanwa Bank for $0.7 million. Bruce Furniss and David Shammas of Grubb & Ellis’ Anaheim office represented both parties.
Meese Inc. acquired a 55,036-square-foot building at 16404 Knott Ave. in La Mirada for $4 million. Ian Britton, Bob Goodmanson and Ben Seybold of CB Richard Ellis handled the transaction.
LEASES
California Closet Co. leased a 30,000-square-foot building at 5761 Research in Huntington Beach from K.S. Nacodoches. Brad Bierbaum, Bob Goodmanson and Brian DeRevere of CB Richard Ellis represented both parties.
Springs Industries Inc. leased a 54,644-square-foot industrial space at 1420 Manhattan Ave. in Fullerton from GK Investments. Jeff Read, Bob Crenshaw and Lance Parker of Grubb & Ellis’ Anaheim office represented Springs. Rick Ellison and Jeff Chiate of Cushman & Wakefield represented GK Investments.
North American Title leased a 12,497-square-foot space at Orange Commerce Tower at 505 S. Main St. in Orange. Tom Abel and Kevin Teel of CB Richard Ellis represented the landlord.
Newport Corp. leased 77,743 square feet at 1821 E. Dyer in Santa Ana. The 5-year lease was valued at $5 million. Chris Deason and John Griffin of Voit Commercial and Larry Shuler of CB Richard Ellis represented Newport Corp.
OTHER
Costa Mesa-based Essex Realty Management Inc. received a contract to manage the 670-acre, master-planned Southport Business Park in West Sacramento. The firm also will manage the common-area association for the park, which is being developed by Summit Commercial Properties.
Shea Properties completed construction on the 45,000-square-foot Ocean Ranch Village II office building in Laguna Niguel. FirstTeam/First Estates will lease a 7,000-square-foot office space on the plaza level. In addition, Shea Properties is completing construction of a 12,600-square-foot retail building at Ocean Ranch Village II. Aaron Brothers Art & Framing leased a 6,500-squre-foot space in this building.
Dana Point-based Biltmore Communities Inc. arranged $1.4 million in equity financing for Cornerstone Developers Inc.’s residential community in Cathedral City. Tapestry, which will offer seven floor plans ranging from 1,800square feet, is slated for July grand opening.
