SALES
Foremost Business Parks acquired the North Batavia Business Park in Orange from Newport Beach-based CT Realty. The business park consists of five buildings totaling 128,505 square feet and is 97% occupied. Rob Socci of Voit Commercial Brokerage’s Anaheim office and John Griffin of Voit’s Irvine office represented both parties in the transaction.
CT Realty Corp., Newport Beach, acquired the 628-unit Baywood Villa Apartment community in Corona from Mitsui Real Estate Sales Inc. for $42.4 million. Earlier this year, CT Realty acquired a 208-unit apartment complex in La Verne from Mitsui for $14.75 million. Dan Naddor of CT Realty represented that company; Mitsui was represented by Sean Deasy in the Ontario office of CB Richard Ellis and Matthew Lawton of the brokerage firm’s Chicago office. Financing for the deal was provided by Fremont Investment and Loan.
Del Mar Properties II purchased 1300 N. Bristol St., a two-story property in Newport Beach, from West Coast International for $5.4 million. The new owner will be occupying 5,000 square feet of the 35,085-square-foot facility. Eric Paulsen of CB Richard Ellis represented West Coast International and Del Mar Properties was represented by Maury Panza and Al Segal of Collins Commercial.
Godges Trust sold a 39,350-square-foot manufacturing building in Anaheim to Gemeni Manufacturing, a sheet-metal manufacturer from Placentia, for $2.42 million. The building is partially occupied by Tri-Star Laminates, and Gemeni will occupy the vacant portion. Rick Gill of Collins Commercial’s Newport Beach office represented the trust in the transaction. Steve Crane of Lee & Associates-Orange and Tom Mulrooney of Ashwill & Associates represented Gemeni.
NRM Partners LLC, a real estate investment group, purchased a 63,200-square-foot industrial building in Anaheim for $3.8 million. The facility at 1151 N. Tustin Ave. will house the firm’s corporate headquarters. NRM is slated to occupy the building this month. Steve Sprenger and LR Sanders of Grubb & Ellis’ Anaheim office represented NRM Partners, and Ron Snidow of RWS Consultants represented the seller, Williams Family Partnership of Irvine.
A private investor bought a 70,200-square-foot industrial building in Anaheim from 1210 N. Tustin Partners LLC. The existing tenant, Xerxes Inc., is a fiberglass gas-tank manufacturer that holds a long-term lease on the facility. Jedd Zaun, a senior vice president at the Newport Beach office of Lee & Associates, represented both parties in the $3.725 million transaction.
Hassan & Zahra Farjamrad leased approximately 0.9 acres of industrial land in Lake Forest from Lambo Engineering LLC for $240,000. John Bral of Beitler Commercial represented the Frajamrads and David Kluver & William Rauth of Grubb & Ellis represented Lambo.
LEASES
Lexani Wheel Corp. leased 29,825 square feet of industrial space in Yorba Linda from the Able Corp. Rick Gill of Collins Commercial was the exclusive leasing agent for the R & D; property.
Hearth Products Inc. leased the 66,821-square-foot industrial building at 1110 W. Taft, Orange. Both the lessor, AIR Industries, and Hearth Products were represented by Bob Goodmanson, Brian DeRevere and Brad Bierbaum of CB Richard Ellis.
BRE Properties signed a 33-month lease for 3,133 square feet of space in Newport Beach from SCA Consulting for $263,641. Rick Wray of Wray & Associates represented BRE Properties, and Dave Howard of the Tenant Advisory Group of Beitler Commercial Realty Services and Omar Dauod of CB Richard Ellis represented the lessor.
Tetra Tech, a consulting firm, subleased 41,566 square feet of office space in Irvine from the financial services firm, The Associates, through 2008. Tetra Tech will consolidate its Orange, Costa Mesa and Irvine offices into the subleased space. Ken Ward and Dennis Negron of The Staubach Co. represented The Associates, and Greg Johnson of Daum Commercial Real Estate Services represented Tetra Tech.
Mag Instruments, the manufacturer of Mag Flashlights, signed a five-year lease for 300,172 square feet of space in Ontario from Vogel Properties. The aggregate dollar value of the lease is approximately $5 million. Scott Evans, Terry Evans, Sid Osborn and Armen Gourdikian in the Ontario office of Cushman & Wakefield represented both parties.
The Toro Co. leased approximately 3,096 square feet of space in Laguna Hills from Olen Properties for $133,050. Dave Howard of Beitler Commercial Tenant Advisory Group represented Toro Co., and Olen was represented in-house by Maria Meyer.
Covenant Care Inc. signed a lease for 20,000 square feet of office space at the Pacific Corporate Plaza in Aliso Viejo. The lease is valued at approximately $1.8 million. The company will relocate its corporate headquarters from San Juan Capistrano in March. Royce Sharf and Scott Granger of Julien J. Studley represented Covenant Care. The landlord, CarrAmerica, was represented by Dave Whitney of Lee & Associates.
CONTRACTS
Arden Realty Inc., a Los Angeles-based REIT, selected Grubb & Ellis Co. to market the Anaheim Corporate Centre, an 187,000-square-foot, Class A high-rise in Anaheim. The property will be marketed by David Giglio and Greg Farrier, associate vice presidents with Grubb & Ellis’ Anaheim office. The 10-story office tower is 87% leased.
OTHER
Snyder Langston began construction on Rancho Santa Margarita Market Place, a 320,000-square-foot retail center and food court in Rancho Santa Margarita. Development costs are estimated at more than $12 million for the project, which sits on 29 acres. Synder Langston is providing preconstruction services, design management and analysis, estimating, budget and schedule management, value engineering, construction and program management, and general contracting for K & G; Equities.
