Office

IRVINE, CALIF. – A 24,000-square-foot office building located at 2501 Alton in Irvine has sold to EQR Residential for $5 million. EQR is an apartment developer that plans to demolish the property in favor of a new multifamily development. The company had previously purchased an adjacent site and is currently processing entitlements for the new project. This 1.9-acre space is expected to represent the second phase of the project. EQR was represented by CBRE’s Larry Schuler. The seller, SKB Enterprises, was represented by Steve Schloemer of Colliers International.

CONCORD, CALIF. – The Fresenius USA building, a 152,000-square-foot, single-tenant office/R&D building in Concord, has received a $4.5-million mezzanine loan. The building is fully leased to Fresenius USA, a subsidiary of Fresenius Medical Care AG & Co KgaA. It serves as the company’s North America medical equipment manufacturing facility. The financing allowed the building’s owner, Harvest Properties, to purchase, renovate and expand the property to 183,149 square feet. The investment was made on behalf of Pearlmark Mezzanine Realty Partners III. The transaction was arranged by Bill Swackhamer and Rachael Litvin of Pearlmark Real Estate Partners.

SANTA CLARA, CALIF. – ATopTech has leased 26,000 square feet of office and R&D space in Santa Clara. The company is relocating to 2111 Tasman Drive from 3099 North First Street in San Jose. The new space will serve as the company’s headquarters. ATopTech was represented by Mike Mordaunt and Scott Kinder of Cresa San Jose. The landlord, RREEF, was represented by CBRE’s Joe Kelly and Rob Shannon.

CULVER CITY, CALIF. – Gentleman Scholar multimedia production studios has leased 7,322 square feet at Blackwelder, a 6.4-acre creative office and media campus in Culver City. The long-term lease is valued at $2.5 million. Other tenants at the center include The Mill, Hungryman, On Board Entertainment, Soap Creative and Bandito Films. The landlord, Alcion Ventures, was represented by Jim Jacobsen and Scott Rigsby of Industry Partners.

IRVINE, CALIF. – The Cheesecake Factory has purchased a 29,074-square-foot office building in Irvine for $4.7 million. The company plans to house its design division in the new space, which is located at 19 Corporate Park. The Cheesecake Factory was represented by Trent Walker of Voit Real Estate Services’ Irvine office. The sellers, Richard C. and Betty Jane Farrell, were represented by CBRE’s Richard Pincott.

LIVERMORE, CALIF. – Pacific Corporate Center, a 208,000-square-foot complex in Livermore, has sold to an entity controlled by Vertical Ventures Capital LLC and their JV equity partner for an undisclosed sum. The five-building complex is located at 7005 Southfront Road, 7401-7501 Longard Road and 501 Lawrence Road. Dan Bergen, Michael Lloyd and Andy Zighelboim of Colliers International represented both the buyer and the seller, Greenville Investors, an affiliate of Pacific Union Holdings, in this transaction.