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COMMERCIAL REAL ESTATE

Deals

August 08, 2000

* Jacksonville, Fla.-based shopping center developer Regency Realty Corp. sold its newly redeveloped, 104,000-square-foot Hawthorne Plaza shopping center at Hawthorne and El Segundo boulevards in Hawthorne for $20.1 million to Hawthorne Plaza LLC. Regency spent $17.3 million on the redevelopment, which was completed in November, according to Brian Smith, Los Angeles-based managing director of investments for the company's Pacific region. The buyer and the seller were represented by David Lee of Faris Lee.

* Logistics company Pacer International signed a 10-year, $15.4-million lease for 292,653 square feet of industrial space at 9300 and 9350 Rayo Ave. in Commerce. Jack Cline and Danny Miller of Lee & Associates represented the tenant. The landlord, Goldrich & Kest, was represented by John McMillan, John Minervini, Erik Larson and Mike Sidney of Cushman & Wakefield.

* Calabasas-based Johnston Group bought two office buildings totaling 83,000 square feet at Westlake Boulevard and Townsgate Road in Westlake Village from Pacifica Real Estate Group for $11.9 million and sold its 42,000-square-foot Malibu Canyon Plaza retail/office project at 26500 W. Agoura Road to Ephram T. Nehme for $8.3 million. Michael Slater and Tom Dwyer of CB Richard Ellis represented the buyer and the seller in the purchase from Pacifica. In the Malibu Canyon Plaza sale, the buyer was represented by Ed Principe and Margie Jones of 222 Commercial Group; Johnston Group represented itself.

* Mandalay Sports Entertainment signed a five-year, $2.4-million lease for 20,000 square feet of space at 4751 Wilshire Blvd. in Los Angeles. The tenant was represented by Blake S. Mirkin and Steven M. Salas of CB Richard Ellis. The landlord, 4751 Wilshire LLC, was represented by Scott Dobbins of Hankey Investment Co.

* Fireworks Entertainment Inc./Seven Arts International, a Toronto-based film and television producer and distributor, signed a five-year, $1.8-million lease for 12,000 square feet of space at 421 S. Beverly Drive in Beverly Hills. The tenant was represented by Blake S. Mirkin and Steven M. Salas of CB Richard Ellis. The landlord, Astra Capital, was represented by Hunt Barnett and Rory Silver of CB Richard Ellis.

* A.B.S. Clothing Co., a Los Angeles-based maker of women's wear, has expanded its operations in Los Angeles by purchasing a 27,380-square-foot industrial building at 1655 E. 14th St. in Los Angeles' garment district for $1.8 million from Shiow-ER of Los Angeles. Bart Pucci of Grubb & Ellis represented the buyer. Chad Maxner of Maxner Real Estate represented the seller.

* Comm-Fab Inc., a metal fabrication company, purchased a 28,662-square-foot industrial building at 12240 East End Ave. in Chino for $1.8 million from Master Development Corp. of Chino. Comm-Fab is slated to occupy the building, which will house the company's corporate headquarters and metal cutting and fabrication operation, in September. Robin Dodson of Grubb & Ellis represented the buyer. Paul Earnhart of Lee & Associates represented the seller.

* Woodtec Inc. acquired a 47,570-square-foot building at 2100 E. Artesia Blvd. in Long Beach from 2100 LLC for about $1.7 million. The buyer was represented by Bob Colacion and Patrick Cornejo of Gateway Business Properties. Bill Townsend of Matlow Kennedy represented the seller.

* Action Ace.com, a designer of interactive games and entertainment software, signed a five-year, $1.7-million lease for 12,909 square feet of office space at 4130 N. Cahuenga Blvd. in North Hollywood. Cathy Scullin and Chuck Carmichael of NAI Capital Commercial represented the tenant. The landlord, 4130 Cahuenga LLC, was represented by Rob Erickson of Lee & Associates.

* RPM Transportation, a distribution warehousing company, has leased a 53,968-square-foot industrial building at 12435 McCann Drive in Santa Fe Springs for four years for $1.6 million. Steve Sprenger and Cameron Driscoll of Grubb & Ellis' Anaheim office represented the landlord, Los Angeles-based 12435 McCann Drive. Tim Cronin of Lee & Associates represented the tenant.

* John and Grace Hong acquired the 20,999-square-foot Mekong Center shopping center at 1360 E. Anaheim St. in Long Beach for $1.4 million from U-Haul Corp. The seller was represented by Richard A. Garcia of Sperry Van Ness. The buyer was represented by Kirby Larson of ReMax.

* Yun Bauhng, a Long Beach-based private investor, purchased a 6,366-square-foot retail property at 4426 Gage Ave. in Bell for $1.3 million from Buena Park-based Merona Enterprises. Mark Hong of Grubb & Ellis represented the buyer. The seller represented itself.

* The national distributor of the popular Zone Diet has leased space for its first West Coast office, an 8,000-square-foot West Los Angeles headquarters at 8982 National Blvd., according to Paul Feiwell of Coldwell Banker Commercial, who represented the distributor, Platinum Fitness Lifestyles Ltd. Platinum Fitness signed a 10-year, $1.3-million lease for the space, Feiwell said. The landlord, AGA Properties, was represented in-house by Dan Abrams.

* Star Custom Industry Inc. signed a five-year, $1.1-million lease for 62,140 square feet of industrial space at 1655 West 6th St. in Corona for its corporate headquarters. Steve Sprenger of Grubb & Ellis and Randy Coe of Seeley Co. represented the tenant. Steve Palmer, Kevin McCarthy and David Wheeler of Majestic Realty Co. represented the landlord, SCC Properties of Industry.

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