Orange County
Faris Lee Investments has completed the sale of a three-tenant retail property in Fullerton, CA for $4.98 million. Located adjacent to St. Jude Medical Campus at 1981 Sunnycrest Dr., the property totals 8,047 square feet and is situated on just under one acre. According to a prepared statement, this sale marks the highest price-per-square-foot paid for a multi-tenant retail property in Orange County over the past 15 months. Completed in 2009, the retail center includes Panera Bread, Z-Pizza and Phans 55, all of which recently signed 10-year NNN leases. The seller was Irvine, CA-based Accretive Laguna Partners LLC. Realtyland represented Seyoung LLC, a La Habra, CA-based buyer. According to the statement, the buyer paid all-cash and the sale closed at a 6.7% cap rate.
Los Angeles
Inland Empire-based Hodgdon Group Realty Inc. represented Ashley Furniture Industries Inc. in the acquisition of a former Circuit City building in Hawthorne, CA. CB Richard Ellis Inc. assisted Hodgdon with the sale. CBRE also represented the seller, WhiteFire Capital LLC of New York City and the Tabani Group Inc. of Dallas. The purchase price was not disclosed. Located in the South Bay area of Los Angeles County at 14600 Ocean Gate Ave. in Hawthorne, the 33,952-square-foot retail building faces the 405 Freeway, and is just off of Rosecrans Avenue, a major thoroughfare and freeway off ramp.
San Francisco
Perfect World Entertainment Inc. signed a 28,031-square-foot office lease at 1001 East Hillsdale Blvd. in Foster City, CA. Harvest Properties is the landlord.
Westcore Mission Falls LLC sold three office buildings totaling 128,286 square feet at 47065 Warm Springs Blvd., 121-181 Mission Falls Ln. and 47092-47132 Mission Falls Court in Fremont, CA. Northwestern Polytechnic University is the buyer. The purchase price was undisclosed.
CISKO LLC has purchased a 26,461-square-foot R&D building at 360 N. Pastoria Ave. in Sunnyvale, CA from North Pastoria Sunnyvale LLC. The purchase price was undisclosed.
Round Table Pizza renewed its lease for its corporate headquarters at 1320 Willow Pass Rd. in Concord, CA for 18,894 square feet for an additional seven and a half years. Founded in 1959, Round Table Pizza has made its headquarters in Concord since 2003. Jones Lang LaSalle represented Round Table Pizza.
QuinStreet signed a long term 63,998-square-foot office lease at 950 Tower Ln. in Foster City, CA. Equity Office Properties is the landlord.
Centro Properties Group executed a 1,260-square-foot lease with Rustler's Grill at Gateway Plaza, located just east of Interstate 80, on Turner Parkway at Plaza Drive in Vallejo, CA. Centro Properties Group is the owner of Gateway Plaza and was represented by Matthew Berger with Centro Properties Group.
San Diego
Chassis Plans has signed a five-year, $1.22-million lease for 22,976 square feet in Scripps Ranch Business Center located at 10123 Carroll Canyon Rd. in the Scripps Ranch area of San Diego. The lease represents a relocation and expansion by Chassis Plans within the H.G. Fenton Co. industrial portfolio that nearly quadruples its overall space and gives it nearly five times the manufacturing area it had before. Scripps Ranch Business Center met all of Chassis Plans' requirements, including proximity to the I-15 and the potential to modify the space to meet its assembly and work space requirements. In the transaction, Chassis Plans was represented by Irving Hughes. H.G. Fenton Co. was represented by CB Richard Ellis Inc.
Crunch Holdings LLC has signed a 60-month, $1.15-million lease for 12,132 square feet of office space in Palomar Crest Corporate Center located at 2701 Loker Ave. West, Suite 230, in Carlsbad, CA. The tenant was represented by Cushman & Wakefield Inc. and Colliers International. The lessor, Gateway Colorado Properties, was represented by Cassidy Turley. The fitness company moved into its new headquarters in February. The two-story, 81,168-square-foot office building is located near the McClellan Palomar Airport as well as several retail amenities.
Inland Empire
Pacific Sun Technologies leased 2,537 square feet of industrial space for 12 months at 42075 Remington Ave., Suite 106 in Temecula, CA from Industrial Condominiums of Temecula LLC. Grubb & Ellis|WestMar represented both parties in the transaction.
Las Vegas
Colliers International finalized a 240-month lease with JP Morgan Chase Bank NA. The .92-acre retail pad is located at 2520 S. Decatur Blvd. in Las Vegas. The total value of the transaction was $3.36 million. Colliers International represented the lessor, PK Sale LLC.
Summit Consultancy Group LLC leased 1,206 square feet at 4045 S. Spencer Street in Las Vegas for 60 months. United East India Co. LLC is the owner of the property and was represented by CB Richard Ellis Inc.
Clark County Credit Union has sold a land/office building to Robert Eglet. Situated on .65 acres, the 4,339-square-foot office property is located at 400-410 S. 7th St. The total value of the transaction was $750,000. Sean White of Valleywide Realty represented the buyer.
Prommis Solutions LLC leased 1,768 square feet of office space from Bridger TIH LLC at 701. E. Bridger Avenue in Las Vegas. CB Richard Ellis represented the lessor.
Portland
Citicaster Co. leased 29,992 square feet of office space at Myers Family Properties LLC 4949 SW Macadam in Portland from Myers Family Properties LLC. Donn Sullivan of Grubb & Ellis Co. represented the lessor. Lessee was self represented.
Cochran Inc. leased 21,250 square feet of flex space at Southwest Commerce Center, located at 7550 SW Tech Center Dr., Suite 150, in Tigard, OR from Walton CWOR Southwest 12 LLC. Grubb & Ellis Co. represented the lessee. GVA Kidder Mathews represented the lessor.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
