YOU ARE HERE: LAT HomeCollections

Commercial Real Estate


May 18, 1999

* Cabot Industrial Trust acquired Glendale Gateway Center, a 474,286-square-foot, 21.7-acre mixed-used industrial and retail center at 3332-3550 San Fernando Road, for $33.6 million from an industrial real estate fund managed by Boston-based AEW Capital Management. Darla Longo and Barbara Emmons of CB Richard Ellis represented both parties in the transaction. The brokers said the center, consisting of six industrial and two retail buildings constructed between 1965 and 1992, was 100% leased at the time of the sale.

* Warehouse Technology Inc., a third-party logistics firm, signed a 10-year, $13.3-million lease for a 315,000-square-foot warehouse at 14210 Telephone Ave. in Chino. Bob Dipre and Rudy Lara of Daum Commercial Real Estate Services represented the tenant. The landlord, Majestic Realty, was represented in-house by Steve Palmer, Kevin McCarthy and Dave Wheeler.

* IRP Muller Associates, an Irvine-based investment group, purchased a 135,269-square-foot industrial building at 14930 E. Alondra Blvd. in La Mirada for $7.1 million from Boston-based AEW Capital Management. Jim McFadden of Grubb & Ellis represented both buyer and seller.

* Sportswear firm John Paul Richard Inc. signed a 10-year, $7.1-million lease for a soon-to-be-completed 57,916-square-foot industrial building at 26800 Agoura Road in the Lost Hills Business Center in Calabasas. Michael Tingus of Seeley, who along with Seeley's John DeGrinis represented both the tenant and landlord Cypress Land Co., said the new facility will more than double the space now occupied by the sportswear manufacturer.

* Western Union Corp. signed a 10-year, $6.5-million lease for 39,000 square feet of office space at Cerritos Corporate Tower at 18000 Studebaker Road in Cerritos. Jay Krigsman of Krausz Cos. and Craig de Miranda of CB Richard Ellis represented Cerritos Corporate Tower. Manuela Amerzcua of Kaufman Group represented Western Union, a wire-transfer company that specializes in transferring funds between the United States and Mexico.

* Silagi Family Trust, a Thousand Oaks-based investor, has purchased a 115,635-square-foot office building at 1501-1521 W. Cameron Ave. in West Covina for $6.5 million from TR Brell Cal of Illinois. Amy McNamara, Aaron Ely and James Wynne of Grubb & Ellis represented the buyer in the transaction. Chris Houge of CB Richard Ellis represented the seller.

* Pacifica Real Estate bought a 41,037-square-foot office building at 200 N. Westlake Blvd. in Westlake Village for $6.2 million from John Hancock Insurance. Pacifica was represented by Brian Forster of Told Partners. The seller was represented by Richard Plummer, Stephen Somer and Jim Shehady of Cushman & Wakefield.

* Bill Silverman and Jeffry Scapa acquired the 96-unit Pennsylvania Villas Apartments in La Crescenta for $5.8 million from Joe Stitick and Claire St. John. St. John was represented by Patti Page Kroener. The buyers represented themselves.

* GK Investments purchased a 90,000-square-foot industrial building at 1400 Manhattan Ave. in Fullerton for about $5 million from Shawd Development. Jeff Chiate of Cushman & Wakefield represented both buyer and seller.

* Dunlap Real Estate of Fullerton acquired a 70-unit apartment complex, the Palms at South Coast at 1331 W. Central Ave. in Santa Ana, for $3.9 million from Stocker Investments Ltd. of Glendale. Ken Morgan and Jay Skenderian of Morgan Skenderian Investment Real Estate Group represented the buyer. Jennifer Schultz of David Schultz Inc. represented the seller.

* Amkotron acquired a 51,450-square-foot warehouse at 16200 Bloomfield Ave. in Cerritos for $3 million from the Calhac division of American Honda. Mike Austin of Sperry Van Ness represented the buyer; the seller was represented by Pat Remolacio of Seeley.

* Rail Delivery Services signed a five-year, $3-million extension of its sublease of 137,700 square feet of industrial space at 16222 Phoebe Ave. in La Mirada. John Murphy of Collins Commercial represented Rail Delivery in the transaction. Sunclipse, which subleased the space to Rail Delivery, was represented by Jerry Gillman of Grubb & Ellis.

* Tom Turner of Palos Verdes Estates purchased a 46-unit apartment building at 7100-7152 Fenway Drive in Westminster for $2.4 million from Jean Berlowitz. Paul Marengo of Century 21 Beachside in Huntington Beach represented the seller. The buyer was represented by Sam Sant of Renaissance Realty Advisors Commercial.

* California Metal Systems of Orange and Delamar Doors of Garden Grove jointly purchased a 42,000-square-foot industrial facility at 7180-7250 Hazard Ave. in Westminster for $2.1 million. Each company will occupy one building of the two-building project, according to Matt Bovee and Tom MacKinnon of Commercial Pacific Real Estate Services, who represented both the buyers and the seller, 7250.

* Weiss Family Trust acquired a 57-unit apartment building at 340 S. Normandie Ave. in Los Angeles for $2 million from 340 S. Normandie. Darin Beebower of Renaissance Realty Advisors represented both the buyer and the seller in the transaction.

* Platinum Investment Group bought a 37-unit apartment building at 10612-10642 Knott Ave. in Stanton for $2 million from the Eggink Family Living Trust. Paul Marengo of Century 21 Beachside in Huntington Beach represented both the buyer and the seller.

Los Angeles Times Articles