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Brokerage Does Huge Business on One Property

April 05, 1987

One property in Irvine has been a real moneymaker for the brokerage that handled 10 transactions involving it in 18 years.

All leases and purchases, valued at $33 million, were made through the Newport Beach and Santa Ana offices of Coldwell Banker Commercial Real Estate Services.

According to Jeff Reese, a sales agent with the firm, Kawasaki Motor Corp. U. S. A. acquired 12 acres fronting the Newport (55) Freeway on McGaw Avenue in four transactions between 1968 and 1972.

The company's 107,000-square-foot building and land was sold to the Hamilton Co. in 1985, when Kawasaki acquired 22 acres in Irvine Spectrum II in a three-way deal and built a new headquarters building there.

The Hamilton Co. sold the building a year later to Ricoh Development cf California Inc., and then built a 55,000-square-foot building which it leased to Far West Savings & Loan and the Ultimate Corp.

The latest transaction occurred March 25 when that building was sold to Shuwa Investment Corp. of Los Angeles for $8.3 million.

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