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Commercial Real Estate


October 06, 1998

Private investors Jack and Elena Alcalay purchased Bermuda Dunes Plaza, a 29,608-square-foot shopping center at Washington Street and Country Club Drive in Bermuda Dunes, for $4.2 million from AIG Bermuda Dunes Partners of Laguna Beach. Roary S. Walsh of Grubb & Ellis, who represented the seller, said the center was 93% leased at the time of the sale. Phil Seymour of Elite Properties represented the buyers.

Bond Technologies, a maker and distributor of computer and electronics components, has signed a five-year, $2.5-million lease on 101,618 square feet of industrial space at West County Commerce Center in Huntington Beach. The move is part of an expansion at Bond Technologies, according to Bruce Bearer, a senior vice president at landlord Sares-Regis Group, who represented Sares-Regis in lease negotiations. Bond Technologies was represented by Brad Bierbaum and Brent Carroll of CB Richard Ellis.

Accurate Landscape & Maintenance acquired two industrial buildings totaling 35,000 square feet on 2.5 acres at 1150 W. Trenton Ave. in Orange for $2.3 million from the Urcis Family Partnership. Chris Migliori of Daum Commercial Real Estate Services represented both the buyer and seller.

Valencia Medical Center acquired a 39,000-square-foot shopping center and an adjacent 32,000-square-foot medical office building at Tournament Road and McBean Parkway in Valencia for $8.2 million from BRE Properties Inc., a real estate investment trust. Steve Miller of Steve Miller Co. represented both the buyer and the seller.

Eri Kroch/26th Street Associates bought a 14,573-square-foot office building at 1545 26th St. in Santa Monica for $3 million from Carlsberg Management Co. Bob Safai of Madison Partners represented both the buyer and the seller.

Joico Laboratories Inc. signed a five-year, $4.1-million lease for 173,200 square feet of industrial space at 341-345 Baldwin Park Blvd. in Industry. Matt Root of Shidler West Investment Corp. represented the landlord, Shidler Group. Barry Saywitz of Saywitz Co. represented Joico.

Investment partnership 2245 Valley acquired Contractor's Warehouse regional retail center at 2245 W. Valley Blvd. in Colton for $3.3 million from Black Sable Properties of Rancho Cucamonga. Stephen Grossman of Sperry Van Ness represented the buyer and Sperry's Fouy Lee and Mike Austin represented the seller. The property includes the 125,000-square-foot warehouse and 24 acres of land near Interstate 10 that will be developed for retail and industrial uses, the brokers said.

Maritz Marketing Research signed a five-year, $2.4-million lease on 27,152 square feet of office space at 3901 Via Oro Ave. in Long Beach. James D. Jandro of Cushman & Wakefield, who represented landlord Arden Realty Inc., said Maritz plans to establish a customer service center with approximately 135 employees at the Via Oro location. Maritz was represented in lease negotiations by David Coe of Seeley Co.

Micro Therapeutics signed a five-year, $2.4-million lease for 43,538 square feet of industrial space at 2-A Goodyear Ave. in Irvine Spectrum. Trent Walker and Sam Olmstead of Voit Commercial Brokerage, who represented landlord New Goodyear Ltd. of Los Angeles, said Micro Therapeutics, a medical technology firm, is relocating to the Irvine space from San Clemente. Gary Allen of Grubb & Ellis represented Micro Therapeutics in the transaction.

Advertising firm W.B. Doner & Co. leased 19,509 square feet of office space at 4675 MacArthur Court in Newport Beach in a transaction valued at $4.3 million. Lonnie Riddle, Alex Hayden and Jack McNutt of Grubb & Ellis represented Doner. The landlord, Irvine Co., represented itself.

Burke Real Estate Group acquired 7.69 acres of land along Calle Plano near Calle Carga and Calle Bolero for $1.8 million from the San Miguel Land Co. and plans to develop the site as Burke Camarillo Corporate Center, a 119,702-square-foot, 18-building complex of industrial buildings ranging from approximately 4,400 to 9,500 square feet. The developer plans to begin construction in December and complete the project in the summer of 1999, offering buildings for sale or lease. Bob Pettit of Bob Pettit Commercial Realty represented both parties in the transaction.

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