LA MIRADA, CALIF. — Voit Commercial Brokerage has completed three transactions totaling $14.7 million in La Mirada. In the first transaction, Faro Services signed a 5-year lease for a 210,300-square-foot industrial building. The property is located at 15910 Valley View Ave. Cameron Driscoll and Luke McDaniel of Voit’s Anaheim, Calif., office represented the lessee in the $5.9 million transaction. The landlord, Warehouse Investment Partners, was self-represented. In the second transaction, DAUM Commercial Real Estate Services represented George Yao in the $5.5 million acquisition of a 59,000-square-foot building located at 15905 Canary. Peter Castleton of Voit’s Anaheim office represented the seller, RGB Partners. In the final transaction, Champion Exposition Services Inc. signed a 5-year lease for a 76,244-square-foot industrial building, which is located at 14701 Industry Circle. The transaction was valued at $3.3 million. Driscoll and McDaniel represented the lessee; Steve Sprenger and Shawn Kelter of Grubb & Ellis represented the landlord, Berns & Sanderson LP, in the transaction.
Western
LAS VEGAS — Clark County’s political subdivision has signed a 10-year lease for 103,308 square feet of office space at Greystone Office Park in Las Vegas. The property is located at 1850 and 1900 E. Flamingo. The lease is valued at $27.1 million with an average monthly rental rate of $2.18 per square foot. Coldwell Banker Commercial represented the lessee. The lessor was not disclosed.
SANTA ANA, CALIF. — Tung Thanh Dinh et. al. has purchased Harbor Square, a 23,536-square-foot retail property located at 100-120 S. Harbor Blvd. in Santa Ana. The property includes a 20,764-square-foot L-shaped shopping center and a 2,772-square-foot restaurant with a drive-thru lane. Lin Estate Inc. sold the asset for approximately $7.42 million. Tom Nguyen of NAI Capital’s Newport Beach, Calif., office represented both parties in the transaction.
MONTEREY PARK, CALIF. — Korda Group has acquired a single-story, 55,564-square-foot office building, which is located at 1-25 Cupania Circle in Monterey Park. Fowler Property Acquisitions sold the property, which was built in 1971, for $8.05 million. The buyer will assume a 70 percent existing LTV. Ron Jacobson and Bob Safai of Madison Partners represented the seller in the transaction.
MIDVALE, UTAH — R&O Construction Co. is currently building a new Salt Lake County Public Works Administration building, which will be located at 617 West 6960 S. in Midvale. The 22,805-square-foot building is seeking LEED Gold certification. Green elements of the building include concrete walls, recycled concrete countertops, the use of reclaimed trestle wood, bamboo floors and ceilings, and energy efficient solar panels. Completion is slated for December 2009.
ONTARIO, CALIF. — Aspen Distribution has leased a 102,878-square-foot industrial building, which is located at 5505 Concours within Crossroads Business Park in Ontario, for $3.5 million. The facility features 65,572 square feet of 45-degree refrigerated space and 34,204 square feet of dry storage space. Aspen Distribution is a third-party logistics company that does contract warehousing for the medical, grocery, industrial, retail and paper industries. Don Kazanjian of Lee & Associates represented the tenant; Clyde Stauff and Michael McCrary of Colliers International’s Ontario office represented the landlord, The Caldwell Company, in the transaction.
VAN NUYS, CALIF. — Franklin Management has acquired a 53-unit apartment community, which is located at 6125 Fulton Ave. in Van Nuys, for $5.2 million or $98,113 per unit. The property features 22 studio/one-bath units, 31 one-bedroom/one-bath units, a fitness center, a clubhouse, an on-site laundry facility and a swimming pool. Rick Raymundo of Marcus & Millichap represented the buyer; Chris Malcolm of Coldwell Banker represented the seller, 6125 Fulton Apartments LLC, in the transaction.
CALIFORNIA AND NEVADA — Menomonee Falls, Wis.-based Kohl’s Corp. has closed on the acquisition of five former Mervyns stores in California and Nevada. Sold by Developers Diversified Realty, the properties are located at Northridge Plaza in Northridge, Calif.; College Grove Shopping Center in San Diego; Nellis Crossing in Las Vegas; Pear Tree Center in Ukiah, Calif.; and Grand Canyon Shopping Center in Las Vegas. Details of the transaction were not disclosed. The locations are part of the 31 Mervyns store leases that Kohl’s purchased in a bankruptcy court auction. Hayward, Calif.-based Mervyns LLC is liquidating after filing bankruptcy in July 2008.
SEATTLE — An undisclosed private investor has purchased 6000 Northwest, a 11-unit multifamily property in Seattle. Located at 6000 24th Ave. Northwest, the property sold for $2.7 million. Built in 1967, the asset features four one-bedroom/one-bath plus den units, four two-bedroom/one-bath units, two two-bedroom/one bath plus den units and one three-bedroom/two-and-a-half bath plus den units. Daniel Swanson and Blake Rodgers of Marcus & Millichap’s Seattle office represented the undisclosed seller; Swanson also represented the buyer in the transaction.
CORONA, CALIF. — Peter and Thelma Karagines have purchased an 8,128-square-foot industrial property, which is located at 2047 Cecilia Circle in Corona. Golden West Enterprises LLC sold the property for $1.2 million. Walter Frome and Bill Livesay of Voit Commercial Brokerage, a member of CORFAC International, represented the seller in the transaction.