OFFICE SALES
Laguna Hills-based Birtcher Real Estate Group and the Pradium Funds of New York joined forces in acquiring Brookhollow Office Park in Santa Ana for $41 million, the largest office deal by square footage in Orange County in 2000.
The deal is another sign of renewed interest among real estate investors in the corridor along the Costa Mesa (55) Freeway in Santa Ana and Irvine, spurred in part by the growing attraction of technology companies to the area’s many low-rise office buildings.
The Birtcher-Pradium team purchased the property from a partnership of Santa Ana-based CALVEST Realty Advisors Inc. and Dallas-based Olympus Real Estate.
The park, a mix of office and retail space, has 24 buildings on 31.8 acres along the 55 Freeway near the intersection of East Dyer Road and Grand Avenue. Approximately 85,000 square feet of showroom space are in the park, with tenants such as Adair Office Furniture, Plummers Home and Office Interiors and Sit ‘n Sleep. Other tenants include Catholic Charities, Children’s Village daycare and Zurich Payroll Systems.
“The business plan for the company right now is to be an operating company, buying and selling opportunity real estate,” said Rodger Grove, director of acquisitions for Birtcher Real Estate.
CALVEST Realty Advisors and Olympus made a hefty profit in selling the property. They sold it for approximately twice the amount they paid and invested in it.
“Our business plan is basically to buy and renovate assets,” said Greg Hillgren, president of CALVEST Realty, which is the West Coast partner of Dallas-based Olympus Real Estate, an opportunity fund.
“We hold for a three- to four-year period. So we achieved the objectives of our fund and exceeded our business plan.”
Rob Socci of Voit Commercial Brokerage represented both parties in the Brookhollow transaction.
, Daniel Williams
LARGEST OFFICE SALES
(by square footage)
BROOKHOLLOW OFFICE PARK
1500-1570 Brookhollow Ave.
Santa Ana
400,618 sq. ft.
Price: $41,000,000
Buyer: Brookhollow Office Park
Associates LLC
Buyer rep: Voit Commercial
Buyer agent: Rob Socci
Seller: Olympus Brookhollow/Calvest
Seller rep: Voit Commercial
Seller agent: Rob Socci
STADIUM CROSSINGS
2015-2105 E. Katella Ave.
Anaheim
352,000 sq. ft.
Price: $34,900,000
Buyer: SY Ventures I LLC
Buyer rep: N/A
Buyer agent: N/A
Seller: CH Anaheim Ltd.
Seller rep: N/A
Seller agent: N/A
THE ATRIUM
19100-19200 Von Karman Ave.
Irvine
288,718 sq. ft.
Price: $60,000,000
Buyer: Atrium Irvine LLC
Buyer rep: CB Richard Ellis
Buyer agents: Bob Smith, Jerry Nourse
Seller: Hyogo Atrium Inc.
Seller rep: CB Richard Ellis
Seller agents: Bob Smith, Jerry Nourse
TERRACE TOWER
1900-1902 Main St.
173,247 sq. ft.
Price: $47,775,000
Buyer: Terrace Tower Orange
County LLC
Buyer rep: Empire Investments
Buyer agent: John Bochis
Seller: KN One LLC
Seller rep: Empire Investments
Seller agent: John Bochis
IRVINE BUSINESS COMPLEX
1 Corporate Park
Irvine
162,776 sq. ft.
Price: $25,250,000
Buyer: PS Business Parks LP
Buyer rep: Grubb & Ellis
Buyer agents: Tom Taylor, Mike Randall
Seller: Patrician Associates Inc.
Seller rep: Grubb & Ellis
Seller agents: Mike Randall, Tom Taylor
NORTHPARK PLAZA
1125 E. 17th St.
144,000 sq. ft.
Price: $8,850,000
Buyer: MT Shoraka Inc.
Buyer agent: Jeff Hanson
Seller: SAMAC Ltd.
Seller agent: Jeff Hanson
2101-2103 E. 4TH ST.
Santa Ana
138,774 sq. ft.
Price: $13,000,000
Buyer: North Parkcenter LLC
Seller: M.C. Horning Sr.
ALBERTSON’S BUILDING
1421 Manhattan Ave.
Fullerton
131,250 sq. ft.
Price: $10,500,000
Buyer: Albertson’s Inc.
Buyer agent: Rick Warner
Seller: Hewlett Packard Co.
Seller rep: Grubb & Ellis
Seller agent: Jack McNutt
BLACK & DECKER BUILDING
19071 Da Vinci
Lake Forest
125,000 sq. ft.
Price: $15,096,822
Buyer: Da Vinci Acquisition Co.
Buyer rep: Cushman Realty Corp.
Buyer agent: Rick Kaplan
Seller: Opus West Corp.
Seller agent: Gregg Haly
SKYPARK BUSINESS CENTER
18004-18012 Sky Park
110,692 sq. ft.
Price: $13,352,000
Buyer: Save Most Desert Rancho Ltd.
Buyer rep: Lee & Associates
Buyer agent: Matt Pipkin
Seller: H-A Irvine Associates
Seller rep: Self-represented
Seller agent: Albert J. Auer
BRADLEY OFFICE PLAZA
2200 W. Orangewood Ave.
Orange
109,073 sq. ft.
Price: Undisclosed
Buyer: CPH Orange Office Building LLC
Buyer rep: Grubb & Ellis
Buyer agent: Greg Herbert
Seller: ITW Mortgage Investments IV
16842 VON KARMAN AVE.
Irvine
99,082 sq. ft.
Buyer: Transwestern Von Karman
Buyer rep: Transwestern Property Co.
Buyer agents: Greg May, Dave Bui
Seller: Shin-Ei Co Ltd.
Seller rep: CB Richard Ellis
Seller agent: Dave Desper, Larry Schuler
RED HILL CENTER
3187 Red Hill Ave.
Costa Mesa
77,165 sq. ft.
Price: $12,200,000
Buyer: 1400 Quail LLC
Buyer agent: Rob Mitchell
Seller: CPH Redhill Office Building LLC
Seller agent: Rob Mitchell
TOKAI BANK BUILDING
18831 Von Karman Ave.
66,615 sq. ft.
Price: $14,000,000
Buyer: Newport Federal
Buyer rep: Voit Commercial
Seller: Martin Von Karman LLC
Seller rep: Lee & Associates
Seller agent: Mike Meisenbach
WEST AIRPORT CENTER
125 Baker St.
60,435 sq. ft.
Price: $7,578,000
Buyer: Baker Street Venture LLC
Buyer rep: NAI Capital Commercial
Buyer agents: George Economos, Steve Economos
Seller: West Airport Center LP
Seller rep: NAI Capital Commercial
Seller agents: Steve Economos, George Economos
1600 DOVE ST.
Newport Beach
58,312 sq. ft.
Price: $8,600,000
Buyer: 1600 Dove LP
Buyer rep: Optima Asset Management Services
Buyer agent: Doug Morehead
Seller: Massachusetts Mutual Life Insurance
Seller rep: Cushman Realty Corp.
Seller agents: Martin Morgenstern, Jeff Osborn, Rick Hamilton
DOLPHIN BUSINESS CENTER
23591 El Toro Road
58,237 sq. ft.
Price: $6,150,000
Buyer: David Arnold
Buyer rep: CB Richard Ellis
Buyer agent: Gary Stache
Seller: Dolphin 97 LLC
Seller rep: Marcus & Millichap
Seller agents: Michael Lawrence, Garrett Sholer
30131 TOWN CENTER DRIVE
Laguna Niguel
50,049 sq. ft.
Price: $7,030,000
Buyer: Richard Joseph Paul Trust
Buyer rep: Marcus & Millichap
Buyer agent: Joe Berkson
Seller: Florida Sherwood Forest
Seller agent: Mark Lucescu
17851 17TH ST.
Tustin
45,839 sq. ft.
Price: $4,775,000
Buyer: Ara Ohonian
Buyer rep: Self-represented
Buyer agent: N/A
Seller: Prospect-Seventeen Plaza
Seller rep: N/A
Seller agent: N/A
6 LIBERTY
Aliso Viejo
45,234 sq. ft.
Price: $8,750,000
Buyer: Liberty Office Partners LP
Buyer agents: Dave Alderman, Chris Deason
Seller: Liberty Commercial Properties Inc.
Seller rep: Voit Commercial
Seller agents: Chris Deason, Dave Alderman
NORTH TOWN FINANCIAL PLAZA
2670 N. Main St.
44,066 sq. ft.
Price: N/A
Buyer: VMA North Town LLC
Buyer agent: Mark G Murrel
Seller: MRES America Fund 88-1 LP
2540-2550 RED HILL AVE.
Santa Ana
40,547 sq. ft.
Price: $6,700,000
Buyer: John B. Hanna Trust
Buyer rep: N/A
Seller: Franklin Avenue Properties LLC
Seller rep: N/A
Seller agent: N/A
CYPRESS GARDEN OFFICES
7077 Orangewood Ave.
Garden Grove
36,282 sq. ft.
Price: $1,814,000
Buyer: H. Henry Hirsch Trust
Buyer agent: Sean Ahern
Seller: Orangewood Office Investors LLC
Seller agent: Sean Ahern
HOAG HOSPITAL MEDICAL CENTER
26671 Aliso Creek Road
33,000 sq. ft.
Price: $8,300,000
Buyer: Hoag Memorial Hospital Presbyterian LLC
Buyer agent: N/A
Seller: G & L; Aliso Viejo
WARNER VILLAGE MEDICAL CENTER
10900 Warner Ave.
Fountain Valley
32,272 sq. ft.
Price: $2,350,000
Buyer: Warner Village Venture LLC
Buyer rep: Voit Commercial
Buyer agent: Mike Hefner
Seller: Glenborough Properties LP
Seller agent: Thomas Talbot
Source: Costar Group
OFFICE LEASES
After a long search and a name change, Verizon Wireless found a home.
The cell-phone company relocated to a five-building, 470,000-square-foot office campus on Sand Canyon Avenue in the largest lease deal of 2000.
The company’s 10-year lease allowed it to consolidate approximately 1,800 employees to the new facility from three other sites.
Jeff Manley and Lee Coleman of The Staubach Co. brokered the deal.
Manley worked on the deal for three years, beginning when Verizon was still known as AirTouch Communications, and chose Lowe Enterprises Commercial Group to develop a new campus for consolidation.
“They designed the buildings from the inside out,” said Manley. “It was ‘what do you want and let’s put the shell around it.’ The operations drove the design.”
Verizon also has an option with Lowe on 10 acres east and within walking distance of the new campus.
“The campus is functional for Verizon but re-leasable long-term for Lowe,” Manley said.
LARGEST OFFICE LEASES
15505 SAND CANYON ROAD
Irvine
470,000 sq. ft.
Landlord rep: Lowe Enterprises
Landlord agent: Mike McNerney
Tenant: Verizon Wireless
Tenant rep: The Staubach Co.
Tenant agents: Jeff Manley, Lee Coleman
SOUTH COAST METRO CENTER
Anton Boulevard
Costa Mesa
340,000 sq. ft.
Landlord rep: N/A
Landlord agents: N/A
Tenant: Experian Information Systems
Tenant agents: Sandra Kikerpill, Kevin Hayes, Paul Dimeo, Ken Robertson, Ken Blye
LAKE FOREST DRIVE
Lake Forest
187,365 sq. ft.
Landlord rep: CB Richard Ellis
Landlord agents: Greg Puccinelli, Jon Marchiolatti, Chris Bates
Tenant: Western Digital Corp.
Tenant rep: Daum Commercial
Tenant agents: Daniel Knudson, Kenneth Hulbert
2040 MAIN ST., PHASE II
137,800 sq. ft.
Landlord agents: Al Masters, Dean Chandler
Tenant: Knobbe, Martens, Olson & Bear
Tenant rep: Voit Commercial
Tenant agent: Doug Killian
19071 DA VINCI
127,612 sq. ft.
Landlord rep: CB Richard Ellis
Landlord agents: Gregg Haly, Greg Puccinelli
Tenant: Black & Decker
Tenant rep: Cushman Realty Corp.
Tenant agents: Rick Kaplan, Jeffrey Osborn
1201 BELL AVE.
122,260 sq. ft.
Tenant: BKM of California
Tenant rep: The Staubach Co.
Tenant agents: Ken Ward, Mitch Munt
26642 & 26672 TOWNE CENTRE DRIVE
Foothill Ranch
114,384 sq. ft.
Landlord reps: CB Richard Ellis, Cushman & Wakefield
Landlord agents: Don Nourse, Mark Zuvich
Tenant: Pacific Life Insurance Co.
Tenant rep: Voit Commercial Brokerage
Tenant agent: Chris Deason
15460-80 LAGUNA CANYON ROAD
Irvine
98,040 sq. ft.
Landlord rep: Irvine Industrial Co.
Landlord agent: Michael Hodges
Tenant: Boeing Co.
Tenant agents: Jeff Manley, Kenneth Blye
18111 VON KARMAN AVENUE
93,000 sq. ft.
Landlord rep: Cushman Realty Corp.
Landlord agents: Rick Kaplan, Jeffrey Osborn
Tenant: Ernst & Young LLP
555 ANTON
89,500 sq. ft.
Landlord agents: Timothy Helgeson, Rick Kaplan
Tenant: BMC Software
Tenant rep: Cushman Realty Corp.
Tenant agents: John Gallivan, Scott Wegman
1900 S. STATE
COLLEGE BLVD.
84,000 sq. ft.
Landlord rep: Cushman & Wakefield
Landlord agents: David Dowd, Joseph Vargas
Tenant: New Horizons Computer Learning School
Tenant rep: CB Richard Ellis
Tenant agent: Taylor Ing
2 SOUTH POINTE
Lake Forest
75,000 sq. ft.
Landlord agent: Jon Marchiorlatti
Tenant: FutureLink
Tenant agent: Jeff Carr
5757 PLAZA DRIVE
Cypress
Landlord rep: CB Richard Ellis
Landlord agents: Alex Hayden, Brian Derevere
Tenant: Jacobs Engineering
Tenant rep: Cushman Realty
Tenant agent: N/A
20511 LAKE FOREST ROAD
73,552 sq. ft.
3545 HARBOR GATEWAY SOUTH
Costa Mesa
70,000 sq. ft.
Landlord rep: C.J. Segerstrom & Sons
Landlord agents: Jeff Reese, Barney Page
Tenant: FileNET
Tenant rep: CB Richard Ellis
Tenant agent: Chip Wright
1 MACARTHUR BLVD.
69,078 sq. ft.
Landlord rep: Nexus Development Corp.
Landlord agents: Jeffrey Bitetti, Curt Olson, Randall Gerschon
Tenant: AIG Insurance
Tenant rep: Insignia ESG Inc.
Tenant agents: Stephen Bay, Kevin Bender
6251 KATELLA AVE.
65,614 sq. ft.
Landlord rep: CB Richard Ellis
Landlord agents: Brian Derevere, Laird Perkins
Tenant: PacifiCare Health Systems Inc.
Tenant rep: N/A
5161 CALIFORNIA
Irvine
63,440 sq. ft.
Landlord agents: Michael Hodges, John Turner, Tom Gruebel
Tenant: Conexant Systems Inc.
Tenant agent: N/A
15440 LAGUNA CANYON ROAD
62,814 sq. ft.
Landlord rep: Irvine Industrial Co.
Tenant: Access 360
Tenant rep: N/A
Irvine
57,929 sq. ft.
Tenant: Deloitte & Touche LLP
Tenant rep: Nexus Development Corp.
Tenant agents: Jeffrey Bitetti, Curt Olson, Randall Gerschon
17838 GILLETTE
55,921 sq. ft.
Landlord agents: Scott Garmon, Bob Griffith, David Dowd
Tenant: Exodus Communications
Tenant rep: CPS
Tenant agents: George Reilly, Justin Reilly
3351 MICHELSON DRIVE
Irvine
55,301 sq. ft.
Landlord rep: Winthrop Management
Landlord agent: Janine Padia
Tenant: Caltrans District #12
Tenant agent: N/A
505 EUCLID AVE.
Anaheim
54,855 sq. ft.
Landlord agents: Rick Warner, Mark Friend
Tenant: Coast National Insurance
Tenant rep: Corporate Realty Advisors
Tenant agent: Jeff Tabor
TEN POINTE
Brea
54,343 sq. ft.
Landlord rep: Cushman & Wakefield
Landlord agent: Greg Brown
Tenant: NetLock Technologies
Tenant rep: Lee & Associates
Tenant agent: Robert Sattler
3349 MICHELSON DRIVE
53,761 sq. ft.
Tenant: Western United Insurance Co.
Tenant rep: Travers Realty
Tenant agent: Matt Wiley
INDUSTRIAL SALES
Spieker Properties wanted cash to acquire more property in Southern California. To do so, it had to sell off the 800,000-square-foot Stadium Plaza Business Park, a complex of industrial buildings next to the Orange (57) Freeway near Katella Avenue, in the largest industrial/flex deal of the year in Orange County.
“We’re doing some more disposition to create some trade capital,” said John Davenport, president of Spieker Properties’ Southern California region, when the Stadium Plaza was first listed a few months ago. “We can hopefully buy other (properties). That’s why we’re selling Stadium Plaza. We love the project.”
RREEF, a San Francisco-based pension fund adviser, purchased the property for a little more than $60 million. RREEF originally sold the park in the shadow of Edison International Field to the Menlo Park-based real estate investment trust in 1986.
“Both times that property has been sold it’s been sold by a reluctant seller,” he said. “We were a reluctant seller and they are a reluctant seller,” said Scott Stuckman, RREEF’s vice president of acquisitions for Southern California.
RREEF was forced to sell the property in 1986 because of the specific partnership agreement under which it owned the complex. The pact called for liquidation of the portfolio after a set period of time.
Jay Borzi and Steve Silk of Cushman Wakefield, Inc. represented both Spieker and RREEF in the deal.
, Daniel Williams
LARGEST INDUSTRIAL/FLEX SALES
(by square footage)
STADIUM PLAZA BUSINESS PARK
2440-2570 E. Cerritos Ave.
807,911 sq. ft.
Price: $61,000,000
Buyer: RREEF America REIT II Corp. N
Buyer rep: Secured Capital Corp.
Buyer agents: Jay Borzi, Steve Silk
Seller: Spieker Properties
Seller rep: Secured Capital Corp.
Seller agents: Jay Borzi, Steve Silk
4201 BONITA PLACE
437,279 sq. ft.
Price: $18,275,000
Buyer: Pccp/Brookhollow OCP
Buyer agent: Kevin Shannon
Seller: Bonita Place LLC
Seller rep: Grubb & Ellis
Seller agent: Kevin Shannon
6565 VALLEY VIEW ST.
La Palma
420,000 sq. ft.
Price: $17,250,000
Buyer: Unisource Worldwide
Buyer agent: Laird Perkins
Seller: GIP CA LLC
Seller agents: Steve Sprenger, Rick Hill
3030 RED HILL AVE.
Santa Ana
361,000 sq. ft.
Price: $16,000,000
Buyer: Red Hill One LLC
Buyer rep: Grubb & Ellis
Buyer agent: Byron Ward
Seller: Astech Manufacturing Inc.
Seller rep: Grubb & Ellis
Seller agent: Byron Ward
1600-1650 KRAEMER BLVD.
Anaheim
278,600 sq. ft.
Price: $18,000,000
Buyer: Crossroads Distribution Corp.
Buyer agents: Louis Tomaselli, Mitch Zehner
Seller: Proficiency Capital Corp.
Seller rep: Voit Commercial
Seller agents: Louis Tomaselli, Mitch Zehner
1801 ST. ANDREW PLACE
275,987 sq. ft.
Price: $35,300,00
Buyer: Powerwave Technologies
Buyer rep: The Staubach Co.
Buyer agents: Sandy Kikerpill, Ken Robertson, Paul Dimeo
Seller: Boeing Realty Corp.
Seller rep: Legacy Partners/Cushman Realty
Seller agents: Alan Defrancis, Jeff Shaw
1505 E. WARNER AVE.
Santa Ana
225,000 sq. ft.
Price: $9,400,000
Buyer: Leed Warner LLC
Buyer rep: Collins Commercial
Buyer agent: Maury Panza
Seller: The ABDO Corp.
Seller rep: Collins Commercial
Seller agents: Mike Collins, Rick Gill
1720-1824 W. COMMONWEALTH AVE.
Fullerton
218,000 sq. ft.
Price: $14,500,000
Buyer: Grace Korean Church at Norwalk
Buyer rep: N/A
Seller: Conagra Grocery Products Co.
Seller rep: N/A
Seller agent: N/A
12131 WESTERN AVE.
188,253 sq. ft.
Price: $10,445,000
Buyer: Watney Way LLC
Buyer rep: Voit Commercial
Buyer agent: Alan Pekarcik
Seller: Voit Cal Portfolio Partnership
7301 ORANGEWOOD AVE.
Garden Grove
182,236 sq. ft.
Price: $13,500,000
Buyer: Saint-Gobain Performance Plastic
Buyer rep: CB Richard Ellis
Buyer agent: Roger Egge
Seller: 7301 Orangewood LLC
Seller rep: Voit Commercial
Seller agents: Alan Pekarcik, Greg Ozimec
1400-1450 WALNUT AVE.
168,564 sq. ft.
Buyer: The Realty Associates Fund V
Buyer agent: N/A
Seller: JMB Industrial Properties
Seller agent: N/A
WICKES FURNITURE
1256 Magnolia Ave.
166,540 sq. ft.
Price: $4,500,000
Buyer: AVG Partners GP
Buyer agent: Dave Birch
Seller: Magnolia-Anaheim Associates
Seller agent: Dave Birch
3190 E. MIRALOMA AVE.
Anaheim
165,139 sq. ft.
Price: $12,400,000
Buyer: TDK Electronics Corp.
Buyer agents: Mark Larson, Gary Stache
Seller: Mira Loma Properties LLC
Seller rep: Cushman & Wakefield
Seller agents: Jeff Chiate, Bob Griffith,
Rick Ellison
FUJITSU BUSINESS
COMMUNICATION SYSTEMS INC.
3190 E Miraloma Ave.
Price: $10,000,000
Buyer: Miraloma Properties LLC
Buyer rep: Cushman & Wakefield
Buyer agents: Jeff Chiate, Bob Griffith,
Seller: Fujitsu Business Communication
Systems Inc.
Rick Ellison
17590-17600 GILLETTE AVE.
Irvine
152,735 sq. ft.
Price: $9,000,000
Buyer: HGN Gillette LLC
Buyer rep: Professional Real Estate Service
Buyer agents: Mike Massaro, Kevin Kubiak
Seller: Donald Pearce Shiley Trust
Seller rep: Professional Real Estate Service
Seller agents: Mike Massaro, Kevin Kubiak
FOREMOST BUSINESS PARK
1260 N Hancock St.
Anaheim
134,518 sq. ft.
Price: $10,100,000
Buyer: Foremost Airport Vegas Ltd.
Buyer agents: Alan Pekarcik, Tyson Theel
Seller: Catellus Development Corp.
Seller rep: Cushman & Wakefield
Seller agents: Jeff Chiate, Bob Griffith
PACIFIC PARK PLAZA
27101-27141 Aliso Creek
Aliso Viejo
133,334 sq. ft.
Price: N/A
Buyer: California Rosen LLC
Buyer rep: N/A
Seller: Kilroy Realty LP
Seller rep: N/A
17352 ARMSTRONG
120,840 sq. ft.
Price: $5,750,000
Buyer: AG/Touchstone Armstrong LLC
Buyer agent: N/A
Seller: Newell Window Furnishings
Seller agent: Jim DeGraw
PLAN HOLD INTERNATIONAL
17421 Von Karman Ave.
Irvine
118,106 sq. ft.
Price: $15,400,000
Buyer: Von Karman Property LLC
Buyer rep: N/A
Seller: Von Karman Realty LLC
Seller agent: John Martin
IRVINE TECHNOLOGY CENTER
2737 Campus Drive
117,153 sq. ft.
Buyer: Irvine Technology Partners II LLC
Buyer rep: CB Richard Ellis
Buyer agents: Jerry Nourse, Bob Smith
Seller: Jamboree Associates LP
Seller rep: CB Richard Ellis
Seller agents: Jerry Nourse, Bob Smith
10 GOODYEAR
Irvine
112,000 sq. ft.
Price: $11,800,000
Buyer: LA International Church of Christ
Buyer rep: Staubach Co.
Buyer agent: Ken Ward
Seller: Goodray Corp.
Seller agents: Mark Zuvich, Bob Griffith
15172 GOLDENWEST CIRCLE
Westminster
102,200 sq. ft.
Price: $5,050,000
Buyer: SIKM Properties LLC
Buyer rep: Trammell Crow Co.
Buyer agent: Walter Frome
Seller: SCN Services LLC
Seller rep: Trammell Crow Co.
Seller agent: Walter Frome
4633 E. LA PALMA AVE.
97,200 sq. ft.
Price: $7,000,000
Buyer: DeRegt Development Inc.
Buyer rep: Lee & Associates
Buyer agent: Jim DeRegt
Seller: Medtronic Inc.
Robert Socci, Alan Pekarcik
GARDEN GROVE INDUSTRIAL PARK
11700 Monarch
94,740 sq. ft.
Price: $5,400,180
Buyer: Robert W. Crane Trust
Buyer rep: Colliers Seeley Co.
Buyer agent: Wayne Lambert
Seller: CP/HERS Anaheim LP
Seller rep: Colliers Seeley
Seller agent: Clyde Stauff
157 N. WAYFIELD ST.
Orange
91,980 sq. ft.
Buyer: Mona Lisa Development Inc.
Buyer rep: Self Storage Brokerage
Buyer agent: Bob Benner
Seller: Wayfield Storage Partners
Seller rep: Self Storage Brokerage
Seller agent: Bob Benner
4 STUDEBAKER
91,723 sq. ft.
Price: $8,350,000
Buyer: Studebaker Real Estate LLC
Buyer agents: Christine Bowen, John Matus
Seller: Futaba Corp. of America
Seller rep: Grubb & Ellis
Seller agent: Jim Cunningham
Source: Costar Group
INDUSTRIAL LEASES
The magician and illusionist Harry Houdini made a name for himself by escaping from tight places.
Houdini Inc., a company in the seasonal gift basket industry, makes a name for itself by topping the list of industrial leases.
Houdini leased 244,511 square feet of a large industrial building located at 4201 Bonita Place in Fullerton.
“It’s a good, functional building, but it’s not right for everybody,” said Robert Socci of Voit Commercial Brokerage.
The property has been expanded, creating a few tight spots and circulation problems, according to Socci.
These problems do not affect Houdini, which is a price-sensitive company. It pays rent year round, yet only operates approximately six months out of the year, during the peak gift-giving times.
The Houdini space is part of a 437,279-square-foot industrial building. Last year, The Brookhollow Group of Costa Mesa paid New York-based Argent Ventures $18.3 million for the multi-tenant industrial building. Other tenants include Frame-N-Lens Optical and Spiveco Inc.
Robert Socci, John Griffin and Barry Walshe of Voit Commercial Brokerage represented the landlord. Tierra West Commercial RE represented the tenant, Houdini.
LARGEST INDUSTRIAL/FLEX LEASES
Fullerton
244,511 sq. ft.
Landlord rep: Voit Commercial Brokerage
Landlord agents: Barry Walshe, Robert Socci, John Griffin
Tenant: Houdini
Tenant rep: Tierra West Commercial RE
400 E. ORANGETHORPE AVE.
Anaheim
Landlord rep: Collins Commercial
Landlord agents: Biff Smith,
Allen Segal
Tenant: RSI Home Products
Tenant rep: N/A
Tenant agent: N/A
GARRY AVE.
Landlord rep: CB Richard Ellis/
Property Resources
Landlord agent: John Martin, Gary Stache/John Sutherland
Tenant: Stauffer Biscuit Co.
Tenant rep: Colliers Seeley
Tenant agent: Michael Hartel
1601 CERRITOS AVE.
200,000 sq. ft.
Landlord rep: CB Richard Ellis
Landlord agents: Robert Goodmanson, Ian Britton, Brad Bierbaum
Tenant: Alstyle Apparel
Tenant agents: Robert Goodmanson, Ian Britton, Brad Bierbaum
6101-6151 KNOTT AVE.
Buena Park
196,332 sq. ft.
Landlord rep: ProLogis
Landlord agent: Larry Harmsen
Tenants: Fairmont Design
Tenant rep: Los Angeles Real Estate Management
Tenant agent: Jay Jasaitis
12200 MONARCH ST.
Garden Grove
196,168 sq. ft.
Landlord rep: Grubb & Ellis
Landlord agents: Bryon Ward
Tenant: Flightline Systems
Tenant rep: Grubb & Ellis
Tenant agent: Kirk Cole
444 LAMBERT ROAD
172,800 sq. ft.
Landlord rep: Colliers Seeley
Landlord agents: Clyde Stauff, Mike Miller, Thomas Taylor
Tenant: Concord Disc Management
Tenant rep: RE/Max Realty 100
Tenant agent: Diana Chang
7373 HUNT AVE.
168,390 sq. ft.
Landlord agents: Brad Bierbaum, Brian Derevere
Tenant: Korea Data Systems
2681 KELVIN
Irvine
150,000 sq. ft.
Landlord agents: Scott Read, Byron Ward
Tenant: SBC Services
Tenant agents: Scott Read, Byron Ward
9400 JERONIMO
147,250 sq. ft.
Tenant: Fujitsu Business Communication Systems Inc.
Tenant rep: Cushman & Wakefield
Tenant agents: Jeff Chiate, Bob Griffith
675 PLACENTIA AVE.
Fullerton
127,375 sq. ft.
Landlord rep: Grubb & Ellis
Landlord agents: Luke McDaniel, Jim McFadden
Tenant: Ingram Micro
Tenant rep: Professional Real Estate Services
Tenant agent: Mike Massaro
30322 ESPERANZA
Rancho Santa Margarita
126,336 sq. ft.
Landlord rep: CB Richard Ellis
Landlord agent: Ted Snell
Tenant: Scanmark
Tenant agent: Don Yahn
10609-10613 WALKER AVE.
Cypress
126,271 sq. ft.
Landlord rep: Lee & Associates
Landlord agent: Jedd Zaun
Tenant: N/A
Tenant agent: N/A
25892-25902 TOWNE CENTRE DRIVE
125,087 sq. ft.
Landlord rep: Collins Commercial/Colliers Seeley
Landlord agents: Oliver Fleener, Tim Joyce, Biff Smith
Tenant: Celestica
Tenant rep: Colliers Seeley/Collins Commercial
Tenant agents: Oliver Fleener, Tim Joyce, Biff Smith
1050 VALENCIA DRIVE
123,000 sq. ft.
Landlord rep: Julien J. Studley
Landlord agent: David Kim
Tenant: Vinyl Concepts
Tenant rep: JM Commercial
Tenant agent: Jon Merry
1382 BELL AVE.
120,800 sq. ft.
Landlord agents: Timothy Joyce, Michael Hartel
Tenant: Balboa Instruments
Tenant rep: Daum Commercial
Tenant agent: John Rothwell
1920 MALVERN AVE.
Fullerton
111,018 sq. ft.
Landlord agents: Michael Merk, Shawn Kelter
Tenant: International Merchandising Service
Tenant agent: Nick Peukipboon
76 FAIRBANKS
Irvine
107,100 sq. ft.
Landlord rep: Irvine Industrial
Landlord agents: Michael Hodges, John Turner, Tom Gruebel
Tenant: Saleen Inc.
Tenant rep: N/A
Garden Grove
Landlord rep: Trammell Crow Co.
Landlord agents: Walter Frome, Rooney Daschbach
Tenant: DeCristo Concrete
Tenant rep: John Solomon Inc.
Tenant agent: John Solomon
APARTMENT SALES
Equity Residential Properties Trust acquired the 563-unit Toscana Apartments at 35 Via Lucca in Irvine from Prudential Real Estate Group for $90 million. The property, one of only four 100-plus units in Irvine not owned by The Irvine Co., topped the apartment sales market for 2000.
The property had previously been for sale 18 months earlier, but was pulled from the market due to construction and wiring issues, according to Chris Knowles of CB Richard Ellis’ Newport Beach office.
After replacing the roof and meeting the codes on other issues, Prudential again placed the property up for sale.
Ray Eldridge and Chris Knowles of CB Richard Ellis Newport Beach and Joe Leon, formerly of CB Richard Ellis, represented the buyer, Equity Residential Properties, and the seller in the transaction.
, Daniel Williams
LARGEST APARTMENT SALES
TOSCANA APARTMENTS
35 Via Lucca
$90,000,000
Buyer: ERP Operating
Buyer agents: Ray Eldridge, Joe Leon,
Chris Knowles
Seller: The Prudential Insurance Co.
Seller agents: Ray Eldridge, Joe Leon, Chris Knowles
VISTA DEL LAGO
2705 Mesa Verde Drive East
$56,700,000
Buyer: Vista Del Lago LLC
Buyer agent: John Walsh
Seller rep: Marcus & Millichap
Seller agent: John Walsh
ADAGIO AT SOUTH COAST
3258 S. Main St.
Santa Ana
$42,300,000
Buyer: Metropolitan Life Insurance Co.
Buyer rep: CB Richard Ellis
Buyer agents: Ray Eldridge, Joe Leon, Chris Knowles
Seller: MSF Santa Ana LLC
Seller rep: CB Richard Ellis
CASCADE APARTMENTS
8602 E. Whitewater
Anaheim
$41,750,000
Buyer: Cascade Apartments LLC
Buyer agents: Sean Deas
Seller: Bear Capital Joint Venture LLC
Seller agents: Sean Deasy, Matthew Lawton
CORTESIA APARTMENTS
29752 Melinda
$38,500,000
Buyer: BRE Properties
Buyer rep: CB Richard Ellis
Seller: AM Rancho Santa Margarita Ltd.
Seller rep: CB Richard Ellis
Seller agents: Ray Eldridge, Joe Leon, Chris Knowles
TUSTIN VILLAS
2414 N. Tustin Ave.
$36,550,000
Buyer: Tustin Villas Apartments
Buyer agents: Dave Caspar, Bruce Furniss
Seller: Pacific Inland Communities LLC
Seller agents: Dave Caspar, Bruce Furniss
CEDAR GLEN APARTMENTS
3100 Yorba Linda Blvd.
$22,250,000
Buyer: Cedar Glen Apartments LLC
Buyer agents: Sean Deasy, Matthew D. Lawton
Seller: MRES America Fund 90-A
PROMENADE APARTMENTS
28016-28032 Marguerite Parkway
Mission Viejo
$21,225,000
Buyer: The Bascom Group LLC
Buyer rep: Morgan Skenderian
Investment Group
Buyer agents: Jay Skenderian, Ken Morgan
Seller: Hillpointe Associates LP
Seller rep: Emerald Summit Real Estate
Seller agents: Ralph Emerson
VISTA POINTE APARTMENTS
175-211 S. Rio Vista
$19,250,000
Buyer: Vista Pointe LLC
Buyer rep: Marcus & Millichap
Buyer agents: Martin Ensbury, Stewart Weston
Seller: Essex Portfolio LP
Seller agents: Martin Ensbury,
Stewart Weston
CITY VILLAS
13061 Lampson Ave.
$14,000,000
Buyer: American Apt Comm III LP
Buyer agent: Douglas W Froehlke
Seller: Coastal Garden Grove Properties
Seller rep: Marcus & Millichap
Seller agent: Douglas W. Froehlke
SUMMERHILL PLAZA APARTMENTS
700 Broadway
Anaheim
$13,351,000
Buyer: Summerhill Property LLC
Buyer agent: N/A
Seller: PAI 39 Ltd.
Seller rep: CB Richard Ellis
Seller agent: Sean Deasy
BROOK PARK WEST
7400 Artesia
$12,600,000
Buyer: Brookpark West LLC
Buyer rep: Sperry Van Ness
Buyer agents: Karoline Sauls
Seller: Granite Buena Park LLC
Seller rep: Sperry Van Ness
Seller agent: Marjorie A Molloy
THE ARBORS APARTMENTS
1100 Fairhaven Ave.
Santa Ana
$12,450,000
Buyer: Garden Grove Property Associates
Buyer rep: CB Richard Ellis
Buyer agents: Ray Eldridge, Joe Leon, Chris Knowles
Seller: CT XXXVII-Fairhaven Partners LP
SANTA ANA TOWERS
401 W. 1st St.
$11,700,000
Buyer: Thomas Safran & Associates
Buyer rep: Grubb & Ellis
Buyer agents: Bruce Furniss, David Caspar, Baron Jones
Seller: MRES America Fund 88-II
Seller rep: Grubb & Ellis
Seller agents: Bruce Furniss, David Caspar, Baron Jones
STRADA APARTMENTS
175 N. Feldner Road
$11,575,000
Buyer: CT-Strada Partners LP
Buyer rep: Pinnacle Realty Management
Buyer agent: Mark Fishman
Seller: MSF Orange LLC
Seller rep: Self Represented
Seller agent: Jennifer Greenwood
EL ENCANTO APARTMENTS
1151 Walnut Ave.
Tustin
$10,250,000
Buyer: Essex Portfolio LP
Seller: Tustin El Encanto LLC
Seller rep: CB Richard Ellis
Seller agents: Ray Eldridge, Joe Leon, Chris Knowles
HERITAGE VILLAGE APARTMENTS
2833 N. Bristol St.
Santa Ana
$9,900,000
Buyer: F & F;/WC Heritage Village
Buyer rep: Marcus & Millichap
Seller: PA Heritage Village LP
Seller agents: Martin Ensbury, Stewart Weston
BASCOM SQUARE APARTMENTS
222 N. Muller St.
$7,800,000
Buyer: FDK Enterprises LP
Buyer rep: Investment Property Group
Buyer agent: Gary Tolfa
Seller: 222 N Muller Apartments LLC
Seller rep: Investment Property Group
Seller agent: Gary Tolfa
EMERALD GARDENS
APARTMENTS
8720 Valley View St.
Buena Park
$7,600,000
Buyer: Granite Emerald Gardens LLC
Buyer rep: Morgan Skenderian Investment Group
Buyer agents: Ken Morgan
Seller: Frederick & Darline Brugma Trust
Seller rep: Torelli Investment Realty
Seller agent: Guy Torelli
OLIVE TREE GARDENS
13902-13040 Taft St.
Garden Grove
$7,300,000
Buyer: Garden Grove Housing Corp.
Seller: Olive Tree Apartments LLC
Seller rep: Morgan Skenderian Investment RE Group
Seller agents: Jay Skenderian, Ken Morgan
15811 PASADENA AVE.
$6,425,000
Buyer: 15811 Pasadena Avenue Apartments
Seller: Schroeder Pasadena Associates LP
8202 WARNER AVE.
Huntington Beach
$5,650,000
Buyer: W-Warner Gardens LLC
Buyer rep: Morgan Skenderian Investment Group
Buyer agents: Jay Skenderian, Ken Morgan
Seller: Y H & Lilla S Sun Trust
Seller agent: Grant Hahn
OCEANAIRE APARTMENTS
7811 Talbert Ave.
$5,400,000
Buyer: HB Ocean Aire I LLC
Buyer rep: CB Richard Ellis
Buyer agents: Ray Eldridge, Joe Leon, Chris Knowles
Seller: NUWI-Oceancrest LP
Seller agents: Ray Eldridge, Joe Leon,
955 W. 19TH ST.
Costa Mesa
$5,350,000
Buyer: Rudy A. Mariman Trust
Buyer rep: Self Represented
Buyer agents: N/A
Seller: Westlake Village Ltd.
Seller rep: ABCO Realty & Trust
Seller agent: Abdul Mozayeni
BUENA CAPRI APARTMENTS
7101 9th St.
$3,600,000
Buyer: Warmside Rentals LLC
Buyer agents: Joe Berkson
Seller: Richard Joseph & Charmaine Paul Trust
Seller rep: Marcus & Millichap
Seller agent: Joe Berkson
