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Deals

July 21, 1998

* More than 16 buyers lined up to make offers on a 30,000-square-foot mini-mall at 5531-5593 W. Manchester Ave. in Westchester that Regency Savings Bank, based in Chicago, sold for $2.5 million to Beverly Hills-based Manchester Mini-Mall, according to broker David Lachoff. Lachoff, Tom Lagos and Ken McLeod of Grubb & Ellis represented both the buyer and seller.

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Anaheim-based American National Properties has acquired two vacant parcels totaling 6.97 acres at 1516 W. Embassy St. in Anaheim from Union Pacific railroad for $2.4 million. David Knowlton of Knowlton Commercial Real Estate, who represented Union Pacific, said American National plans to build four industrial buildings for sale on the site. J.R. Wildermuth of Associated Commercial Brokers represented American.

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Newport Beach-based Layton-Belling Associates, a real estate investment and development firm, bought the 103,000-square-foot Metroplex II office building at 2401 E. Katella Ave. in Anaheim for $15.1 million from Pittsburgh.-based USX Realty Development, a division of U.S. Steel Group. The six-story building was 95% leased at the time of the sale, according to Grubb & Ellis Co. brokers Ken Johnson and John Swallow, who represented both parties in the deal.

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Kittrich Corp., one of the country's largest manufacturers and distributors of decorative vinyl, has signed a 10-year, $10-million lease for approximately 240,000 square feet of industrial space at 14555 Alondra Blvd. in La Mirada. Jedd Zaun and Jerry Gillman of Grubb & Ellis Co., who represented Kittrich, said the building will house the company's corporate headquarters, manufacturing and distribution operations, which it will relocate from Los Angeles in August. The landlord, Chicago-based Westmark Realty Advisors, represented itself.

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