SALE
Tae and Myong Lee of Tustin paid $3 million for a 9,597-square-foot retail strip center at 13842 Newport Ave. in Tustin. The shopping center, known as Walnut Newport Center, sold for $312 per square foot. Built in 1986, the center is full with four tenants, including anchor Blockbuster Video. Dallas-based Blockbuster Inc. is in the process of closing nearly 1,000 stores by the end of the year, creating uncertainty about the Walnut Newport store. The Lees decided to buy the center anyway, betting they could replace Blockbuster as a tenant if the video retailer were to leave, according to Eric Wohl of Hanley Investment Group, who along with Edward Hanley represented seller Westwood Financial Corp. of Los Angeles. The buyers paid cash. Chuck Hathoot of Prudential California Realty represented the Lees.
SALE
7422 Walnut Ave., Buena Park
Price: $2.2 million
Building: industrial
Square feet: 21,093
Price per square foot: $105
Buyer: Amador Investment LLC
Seller: Services First Corp.
Brokers: David Duncan of Century 21; J.R. Gibson, Luke McDaniel, Cameron Driscoll, Dan Berkenfield of Voit Real Estate Services
SALE
1233 W. Alvarez Ave., Orange
Price: $1.3 million
Building: industrial
Square feet: 9,936
Price per square foot: $131
Buyer: Praise Chapel
Seller: Wright Family Trust
Brokers: Chuck Hardy of Lee & Associates
SALE
16782 Von Karman Ave., Irvine
Price: $1.3 million
Building: office
Square feet: 8,462
Price per square foot: $158
Buyer: JMAC Lending
Seller: M2 Properties Inc.
Brokers: Christopher Bates, David Bolt, Matthew Christensen of CB Richard Ellis Group Inc.
SALE
1101 W. West Ave., Fullerton
Price: $1.1 million
Building: apartment
Units: 10
Price per unit: $110,000
Buyer: Denise M. Callagy
Seller: Jeff and Jill Pakula
Brokers: Dino Koukladas of Arbor Property Management; Rick Applebaum of Morgan-Skenderian
LEASE
1820 E. Walnut Ave., Fullerton
Space: 21,910 square feet
Building: industrial
Terms: undisclosed
Tenant: SWH Corp.
Landlord: South Acacia Partnership
Brokers: Tom McAllister of CB Richard Ellis; Jeff Read of Grubb & Ellis Co.
LEASE
901 Starbuck, Fullerton
Space: 4,985 square feet
Building: retail
Terms: undisclosed
Tenant: Myung Shabu Shabu
Landlord: Amerige Heights Apartments LLC
Brokers: Mark Baziak, Terrison Quinn of Grubb & Ellis
