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Commercial Real Estate


November 21, 2000

* John R. Saunders Trust acquired a 122,225-square-foot flexible office campus at 9701/9703 Jeronimo Road in Irvine Spectrum from CEP Investors for $16 million. The buyer was represented by Philip Cohen of CB Richard Ellis. The seller was represented by Ted Snell, Chip Wright and John Desper of CB Richard Ellis.

* Beacon Properties, a Boston-based investment firm, bought a 118,000-square-foot industrial building at 17421 Von Karman Ave. in the Irvine Business Complex for $15.4 million and plans to convert it to a telecommunications facility, according to John Martin of Grubb & Ellis, who represented the seller, Von Karman Realty of New York. The price per square foot of $130 is the highest paid for an industrial building in Orange County, according to Martin, who said the figure reflects the high prices industrial buildings are commanding for conversions to telecommunications uses.

* The law firm of Pircher, Nichols & Meeks signed a 10-year, $14.3-million lease for 35,396 square feet of office space in Watt Plaza at 1925 Century Park East in Century City. Hunt Barnett of Insignia/ESG represented the tenant. The landlord, Watt Management Co., was represented in-house by Kathy McKay and Ed Collins.

* SeeBeyond Software Technology signed a five-year, $7-million lease for 57,000 square feet of space at 181 W. Huntington Drive in Monrovia. The tenant was represented by Douglas Econn and Jerry Porter of Cresa Partners and Matthew May of Sacshe Real Estate. The building owners, Samuelson & Fetter, represented themselves.

* Perkin Elmer Inc. signed a 10-year, $7-million lease for 85,773 square feet of industrial space at 11240 Warland Drive in Cypress. Kevin M. Turner and Matthew Homer of Colliers Seeley represented Perkin Elmer. Murray Smith of Klabin Co. represented the landlord, Warland Drive II LLC.

* Vintage Design Inc., a home design center for builders, bought two buildings totaling nearly 50,000 square feet at 22880 Savi Ranch Road and 22895 Eastpark Drive in Yorba Linda for $5.3 million from Clifford Cos. of Newport Beach. Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage represented the buyer and the seller.

* Internet Wire, an Internet-based distributor of business news releases, financial announcements and other information, leased 41,285 square feet of office space at Airport Spectrum at 5757 Century Blvd. in Los Angeles for seven years for $5.1 million. It is expected to move in March. Andrew P. Rifkin of Grubb & Ellis represented the tenant. The landlord, Decron Management of Van Nuys, represented itself.

* Ethentica, a designer of user-identification products for computer security, signed a six-year, $4-million lease for 33,915 square feet of office space in Town Center Corporate Park at 26940 Laguna Hills Drive in Aliso Viejo to house its corporate headquarters. Doug Mathews and Gary Allen of Grubb & Ellis represented the landlord, Aliso Viejo-based Shea Properties. Jeff Manley and Randy Teteak of Staubach Co. represented the tenant, which will be relocating from Lake Forest.

* Sylvan Learning Centers, a Baltimore-based provider of educational services, signed a five-year, $3.1-million lease for 30,600 square feet of office space at 12975 Coral Tree Place in Los Angeles. The space will house the company's western corporate headquarters. Marty Barkan of Grubb & Ellis represented the tenant. Kent Jakobsen of Trammell Crow Co. represented the landlord, AMC Associates of Los Angeles.

* HW-Dye, a Newport Beach- based developer, acquired 5.3 acres of land at Dyer Road and the 55 Freeway in Santa Ana from Sanderson J-Ray Development for $3 million. Kevin M. Turner of Colliers Seeley represented the buyer and seller.

* Lagasse Bros. Inc., a New Orleans-based distributor of janitorial supplies, has leased 109,685 square feet of industrial space at 8880 Rex Road in Pico Rivera for five years for $2.9 million. Jim Center of Grubb & Ellis represented the tenant. The landlord, Industry-based Majestic/AMB Pico Rivera Associates, represented itself.

* Revolution Eyewear bought a 29,769-square-foot industrial building at 997 Flower Glen St. in Simi Valley from Hillside IV LLC for $2.6 million. Craig Weisman of Told Partners represented Revolution. The seller was represented by Tim Tucker of Mid Valley Properties.

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