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COMMERCIAL REAL ESTATE

Deals

May 09, 2000

* Pacific Coast Feather Co. has leased 335,000 square feet at 8500 and 8550 Rex Road in Pico Rivera in a 10-year, $16.8-million deal. Landlord Majestic Realty Co. was represented by Louis Tomaselli and Rob Socci of Voit Commercial Brokerage. Representing the tenant were Ken Coward and Scott Heaton of Seeley Co.

* Pan Pacific Retail Properties, a Vista-based real estate investment trust, has purchased Weigand Plaza I, a 122,473-square-foot neighborhood shopping center in Encinitas, for $11.85 million. The property at 110 North El Camino Real was sold by MRES-America Fund of Torrance. Dixie Walker, Michael Randall and George Garvin of Grubb & Ellis represented both the seller and buyer.

* A 60,000-square-foot office building at 5959 Topanga Canyon Blvd. in Woodland Hills has been purchased for $8.5 million. The buyer, KREC, was represented by Lynwood Fields of Madison Partners. Seller Calpac Enterprises was represented by John Sabourin of Lee & Associates.

* Propaganda Films has signed a 10-year, $8-million lease for a 30,000-square-foot office building at 1741 N. Ivar Ave. in Hollywood. The entertainment firm will consolidate its four existing Hollywood locations there in the early fall. Mark Robinson, Arlene Sommer and Robert Caviola of Julien J. Studley Inc. represented Propaganda in the transaction. Landlord Meringoff Equities was represented in-house by Rob Langer.

* Ranch Apartment Co. of Cypress has purchased the Ranch, a 72-unit apartment complex at 14515-14583 Stage Road in La Mirada, for $6 million from Schroeder Stage Road Associates. Gary Tolfa of Newport Beach-based Investment Property Group represented both parties.

* MRES Lakewood Property Fund of Torrance has sold the Washington Mutual building in Lakewood to Beverly Hills-based Pacific Development Partners for $5.2 million. The 47,000-square-foot office property is at 4909 N. Lakewood Blvd. Tom J. Lagos, Ken McLeod and Baron Jones of Grubb & Ellis represented both parties.

* 99 Cents Only Stores signed a 10-year, $2.5-million lease for 50,000 square feet of retail space at 442 W. Ave. P in the Palmdale Promenade, a 300,000-square-foot retail center anchored by Wal-Mart and Home Depot in Palmdale. The tenant was represented by Ray Bayat of Grubb & Ellis. Mary Escherich of GMS Realty represented the landlord, K/B Properties of Newport Beach.

* Accounting firm RSM McGladrey Inc. signed a six-year, $2.4-million lease for 15,305 square feet of office space at 251 S. Lake Ave. in Pasadena. The landlord, UBS Brinson Investors Common, was represented by Carlton Maese of Insignia/ESG. The tenant was represented by David Anastos of Bayshore Partners.

* Trident Data Systems has restructured and renewed its headquarters lease for 33,684 square feet at 5933 W. Century Blvd. in Los Angeles. David Kluth of Julien J. Studley Inc. represented Trident in the five-year, $2.4-million transaction. Building owner Haseko Corp. was represented in-house by John Troll.

* Encino-based Pacific Industrial Partners, through an affiliate, acquired a 63,500-square-foot manufacturing and warehouse building at 4040 Capitol Ave. in Industry from 4040 Capitol Ave. Inc. for $2.1 million, according to Robert Neal, executive vice president of Pacific Industrial. The buyer and seller were represented by Robert Socci and Brian Corrigan of Voit Commercial Brokerage.

* M & M Real Estate of Maplewood, N.J., acquired a 35,277-square-foot industrial building at 230 Carob St. in Compton for approximately $2 million from Harlen Metal Products. Steven Zellinger and Howard Schwimmer of Daum Commercial Real Estate Services represented the buyer. The seller was represented by Jeff Smart of Grubb & Ellis.

* Publishing firm Imagine Media signed a five-year, $2-million lease for 11,904 square feet of office space at Wilshire Bundy Plaza at 12121 Wilshire Blvd. in West Los Angeles. Mitch Stokes and Bob Safai of Madison Partners represented the landlord, Lowe Commercial Enterprises Group. The tenant was represented by Rick Gold of Capital Commercial/NAI.

* Nikko Importers Inc. signed a 7 1/2-year, $1.8-million lease for 45,000 square feet of industrial space at 4455 Sheila St. in Commerce. The landlord, Sheila Properties, was represented by Peter Bacci of Lee & Associates. The tenant was represented by Mike Tsparian of A & M Asset Management.

* International Laser Group signed a five-year, $1.4-million lease for 29,260 square feet of industrial space at 6022 Variel Ave. in Woodland Hills. Tim Foutz of NAI Capital Commercial represented the landlords, Raj and Mirmal Anand. The tenant was represented by John DeGrinnis of Seeley Co.

* Acromedia Systems Inc. bought a 21,025-square-foot industrial building at 1480-1488 W. 178th St. in Corona for $1.1 million from 178 Partnership. The seller was represented by Bob Colacion and David Denitz of Gateway Business Properties. The buyer was represented by Jim Sullivan and Harvey Beason of Klabin Co.

* I-Adarp, a counseling center, signed a 10-year, $1-million lease for 8,251 square feet of office space at 6740 Kester Ave. in Van Nuys. The landlord, Safeco Life Insurance Co., was represented by Lynn LaRocque of Daum Commercial Real Estate Services. The tenant was represented by Eric Bordo of Citadel Commercial Real Estate.

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