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COMMERCIAL REAL ESTATE

Deals

July 13, 1999

Dallas-based GE Capital Realty Group Inc. purchased four retail centers in San Diego County totaling 420,272 square feet for $44.4 million from San Diego-based Burnham Pacific Properties. The four shopping centers are the 110,865-square-foot Weigand Plaza in Encinitas; the 92,684-square-foot Independence Square in Kearny Mesa; 74,060 square feet of Poway Plaza in Poway; and the 142,663-square-foot Mesa Shopping Center in Mira Mesa. Dixie Walker and Michael Randall of Grubb & Ellis represented the buyer and the seller in the transaction.

* Essex Property Trust, a San Francisco-based investor, acquired the 132-unit Loraine Apartments and the 83-unit Columbus Apartments, at 245 W. Loraine Ave. and 1136 N. Columbus Ave. in Glendale, respectively, from Chicago-based Elkor Realty Corp. for $21.1 million. Sean Deasy and Matthew Lawton of CB Richard Ellis represented both the seller and the buyer.

* NLP Holding Co. purchased a 136,500-square-foot office building at 1935 Buena Vista St. in Burbank for $21 million from Lowe Enterprises. Bob Safai of Madison Partners represented both the buyer and the seller.

* Henderson Investors purchased Rancho Corrales, a 229-unit apartment complex at 643 Country Club Drive in Simi Valley, from Consolidated Apartment Ventures for $20.1 million. Sean Deasy and Craig LaFollette of CB Richard Ellis represented both the seller and the buyer. The transaction was part of a $200-million, 11-property portfolio.

* FF Rosewood of San Diego acquired the 168-unit Rosewood Villas Apartments in Ontario for $10.8 million from U.E. California Six Partnership of Dallas. Robert Hateley of Anchor Realty Group represented the buyer. The seller was represented by Bill Casas of Casas Realty Advisors.

* Danjaq purchased Universal Court, a 72,283-square-foot office building at 4130 Cahuenga Blvd. in North Hollywood for $8.8 million from Universal Court Ltd. The seller was represented by Lynwood Fields and Craig Stevens of Madison Partners. Danjaq represented itself.

* TRC, an environmental engineering company, signed a 10-year, $7.5-million lease for 41,559 square feet of space at 21 Technology in the Irvine Spectrum. Dean A. Krieger of Lee & Associates represented TRC. The landlord, Irvine Co., represented itself.

* Cancilla Properties II acquired a 305,750-square-foot industrial complex on 20.2 acres of land at 2701 S. Harbor Blvd. in Santa Ana for $6.8 million from SPS Technologies. James Harrison and Robert Murray of Charles Dunn Co. represented the seller. The buyer was represented by Biff Smith of Collins Commercial.

* JHR Inc. acquired an 18,000-square-foot retail property occupied by a Rite-Aid drugstore at 1905 Pacific Coast Highway in Oceanside for $4.3 million from Boardwalk Development. Charles Kaplan of Los Angeles-based CJA Corp. represented both sides in the sale.

* UBS Printing purchased a 64,300-square-foot industrial building at 2557 Research Drive in Corona for $3.4 million from Cash Ltd. of Irvine to house its corporate headquarters. Tim Hawke of Grubb & Ellis represented the seller. Scott Read of Grubb & Ellis represented the buyer.

* Commonwealth Energy, a Tustin-based commercial real estate investment firm, signed a five-year, $2.5- million lease on 17,774 square feet of office space at 15991 Red Hill Ave. in Red Hill Business Center in Tustin. Lonnie Riddle of Grubb & Ellis and Alex Hayden, formerly of Grubb & Ellis, represented the tenant. Byrne Miller of Insignia/ESG represented the landlord, Warner Red Hill Associates of New York.

* Nashville-based Music City Optical Media signed a six-year, $2.4-million lease for a 40,000-square-foot West Coast headquarters at 5915 Rodeo Road in West Los Angeles. F. Ronald Rader and Baljit Nadler of Klabin Co. represented New Jersey-based Cytec Fiberite, which subleased the space to Music City. The tenant was represented by Ian Strano of First Property.

* Michael Hammer acquired two office buildings totaling 4,600 square feet at 1323 Ocean Ave. in Santa Monica for $2.1 million from Viken K. Momdjian Associates. Mitchell Stokes of Madison Partners represented the buyer. The seller was represented by Doug Econ of Metrospace.

* Millennium Equities acquired the 73-unit Dicksboro Apartments at 3918 Beverly Blvd. in Los Angeles for $2 million from 3918 Beverly Associates. Daniel Baird and Kitty Wallace of Sperry Van Ness represented the seller. The buyer was represented by Charlie Forrest of McCane & Forrest.

* R&R Enterprises acquired a 30,000-square-foot office building at 7301 Topanga Canyon Blvd. in Canoga Park for $2 million from Intercoastal Properties. Scott Silverstein of Charles Dunn Co. represented both the buyer and the seller.

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