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COMMERCIAL REAL ESTATE

Deals

March 21, 2000

* The law firm of D'Amato, Brisbois & Bisgaard signed a seven-year, $15.4-million restructured lease for 98,285 square feet of office space at 221 N. Figueroa St. in Los Angeles. Craig McKenna, Bruce Schuman and Onno Zwaneveld of Julien J. Studley Inc. represented the tenant. The landlord, Insignia/ESG, was represented in-house by John Ollen.

* Irvine-based Bascom Group bought 197-unit University Village Apartments at 1660 Kendall Drive in San Bernardino for $11 million and the 142-unit Virgil Tower & Virgil Square Apartments at 411-414 S. Virgil Ave. in Los Angeles for $9.8 million from Fairfield Residential. Bascom said it plans capital improvements of approximately $1.1 million at the San Bernardino property and $700,000 at the Los Angeles property. David Le Beau of Fairfield Residential represented the buyer and seller in both transactions.

* HK Realty Inc. acquired a 224-unit apartment building at 200 E. Avenue R in Palmdale for $7 million from Randall Realty. The buyer and seller were both represented by John P. Walsh of Walsh & Co.

* Satellite communications firm PanAmSat Corp. signed a 10-year, $6.5-million lease for 18,000 square feet of office space at Media Center at Raleigh Studios Manhattan Beach, on Rosecrans Avenue just west of the San Diego Freeway. The company is one of five that recently signed leases totaling nearly 57,000 square feet of space at the 60,000-square-foot project, according to Mark Rosenthal, president of landlord Raleigh Enterprises. The other new tenants include MXG Media Inc., which signed a five-year, $2.5-million deal for 17,000 square feet of space, and Yahoo Inc., which signed a five-year, $1.4-million lease for 9,000 square feet of space. Raleigh was represented in all of the leases by Bob Healey, John Ayoob and Rob Waller of CB Richard Ellis. PanAmSat was represented by Grafton Tanquaray III of CB Richard Ellis. MXG Media was represented by Bill Bloodgood of CB Richard Ellis, and Yahoo was represented by David Tipton of Cresa Partners in San Jose.

* Robert Leonard bought a 24,076-square-foot retail building occupied by Office Depot at Colorado Boulevard and Wilson Avenue in Pasadena for $6.5 million from GRAE Ventures of Century City. The seller was represented by Richard Rizika and Brent Cunningham of CB Richard Ellis Retail Services. The buyer was represented by Bob Leonard III of Los Angeles-based Pacifica Holdings.

* InterPacket, a satellite-based Internet service, signed a six-year, $6-million sublease for 28,500 square feet of office space at MGM Plaza Building A, 2401 Colorado Ave. in Santa Monica. Tim Byrne of Coldwell Banker represented InterPacket. The sub-landlord, Rysher Entertainment, was represented by Roy Longman of Cresa Partners.

* Advanced Fresh Concepts, a supermarket sushi bar operator, purchased a pair of industrial buildings totaling 80,000 square feet on eight acres at 19205-19335 S. Laurel Park Road in Rancho Dominguez for $5.3 million. The buildings will house the company's corporate headquarters in a relocation from Compton in May. Bill Dolan and Henry Kang of Grubb & Ellis represented the buyer. Ted Tapfer of Cushman & Wakefield Inc. represented the seller, ASC Inc. of Southgate, Mich.

* Seville Classics, a Gardena-based import-export company, purchased two lots totaling 7.6 acres at the 170-acre Harbor Gateway Center at 190th Street and Harborgate Way in Los Angeles for $4.6 million and plans to build a 150,000-square-foot corporate headquarters there. The company expects to break ground in the second quarter of this year and complete the project early next year, according to Jim Biondi and Terry Reitz of Grubb & Ellis, who represented the seller, Boeing Realty Corp. The buyer was represented by Rudy Lara of Daum Commercial Real Estate Services.

* Winston Tires bought a 32,998-square-foot office building at 1501-1545 S. Victory Blvd. in Glendale from Baskin-Robbins USA for $4.5 million. Barbara Emmons and Dave Harding of CB Richard Ellis represented both the buyer and seller.

* REMC, an executive-suite firm based in Irvine, signed a 10-year, $4.1-million lease for 18,368 square feet of office space in the Greater L.A. World Trade Center at One World Trade Center in Long Beach. Dave Coe of Grubb & Ellis represented the tenant. Robert Garey of Matlow-Kennedy represented the landlord, CDI West of Monterey Park.

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