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COMMERCIAL REAL ESTATE

Deals

October 17, 2000

* Hawaii-based A&B Properties Inc. bought the 895,000-square-foot Ontario Distribution Center at 5400 to 5450 E. Francis St. in Ontario, for $26.7 million from Prudential Real Estate Investors. Darla Longo and Barbara Emmons of CB Richard Ellis represented the buyer and the seller.

* Newport Federal, a Newport Beach-based real estate company, acquired the 67,669-square-foot Tokai Bank Building at 18831 Von Karman Ave. in Irvine for $14 million from Martin Von Karman LLC. Rob Mitchell, Alan Pekarcik and Tyson Theel of Voit Commercial Brokerage represented the buyer. The seller was represented by Mike Meisenbach of Lee & Associates.

* Gruma Corp., a food production company, signed a 10-year, $12.3-million lease for 200,000 square feet of industrial space at 5505 and 5533 E. Olympic Blvd. in Commerce. David Hasbrouck, John McMillan and Jeff Sanita of Cushman & Wakefield represented the landlord, Southern California Industrial Fund. The tenant was represented by Watt Chenoworth of CB Richard Ellis and Randy Kutler of Colliers Seeley.

* Newport Beach investor John Saunders acquired a 77,165-square-foot office building at 3187 Red Hill Ave. in Costa Mesa for $12.2 million from Newport Beach-based Capital Pacific Holdings. Rob Mitchell, Alan Pekarcik and Tyson Theel of Voit Commercial Brokerage represented the buyer and the seller.

* San Francisco-based AMB Property Corp. purchased a 201,450-square-foot industrial building on 11.9 acres at 2661-2665 E. Del Amo Blvd. in Rancho Dominguez for $10.1 million from Clifford Rancho Dominguez. Todd Taugner and David Prior of Klabin Co. represented the buyer and the seller.

* Irvine-based Bascom Group acquired the 136-unit Raintree Apartments at 3699 Barnard Drive in Oceanside for $9.5 million from Oceanside Raintree Apartments LP. The buyer was represented in-house by Scott McClave and Diane Miramontes of Business Real Estate. The seller was represented by Robin Hemingway of Hemingway Agency.

* Irvine-based Bascom Group purchased the 102-unit Orange Grove Apartments at 777 W. Covina Blvd. in Covina for $7.9 million from L.A. Recovery Fund. The buyer was represented in-house by Scott McClave and Robin Ossenbeck of Hendricks & Partners. The seller, L.A. Recovery Fund, represented itself.

* Lumos Technologies signed a six-year, $6.5-million sublease for 28,500 square feet of office space at 2401 Colorado Ave. in MGM Plaza in Santa Monica, according to John Kaufman of Kaufman Group, who represented the tenant. Lumos subleased the space from Interpacket Networks Inc., which was represented by Roy Longman of Cresa Partners.

* Ashley Furniture Co. of Arcadia, Wis., bought 45.5 acres of land on Cooley Drive at the 10 and 215 freeways in Colton for $6.5 million from East Valley Land Co. of San Bernardino. Ashley plans to build an 800,000-square-foot assembly and distribution facility at the site, according to Rick John and Kent Hindes of Collins Commercial, who represented the buyer and the seller.

* Damac Products Inc. signed a seven-year, $4.1-million lease for 112,946 square feet of industrial space at 14489 Industry Circle in La Mirada. Damac was represented by Cameron Driscoll and Luke McDaniel of Cushman & Wakefield. The landlord, Cabot Industrial Trust, was represented by Patrick Remolacio of Colliers Seeley.

* Indian Wells Town Center LLC bought the 26,604-square-foot Indian Wells Town Center at 45-110 Club Drive in Indian Wells for $3.4 million from Jim Killion and his wife and Ella Mae Wright. Scott R. Wilson of Wilson Johnson represented the buyer and the seller.

* HW Dyer Technology Park, a joint venture between Los Angeles-based Hanover Financial Co. and Newport Beach-based Werdin Corp., acquired a 5.3-acre parcel of industrial land adjacent to the 55 Freeway and Dyer Road in Santa Ana for about $3.2 million from ITT Industries. The partnership has submitted plans to the city of Santa Ana to develop a roughly 102,000-square-foot project in six buildings. Charlie Winn of Collins Commercial represented the buyer; Kevin Turner of Colliers Seeley represented the seller.

* Battery maker Totex Manufacturing Inc. acquired a 36,800-square-foot industrial building at 2927 Lomita Blvd. in Torrance for $3.1 million from Industrial Dynamics. The buyer was represented by Todd Taugner and Jeff Turek of Klabin Co. The seller was represented by Mike Sidney of Cushman & Wakefield.

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