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COMMERCIAL REAL ESTATE

Deals

October 31, 2000

* Kennedy-Wilson Inc. and Los Angeles-based Hanover Financial, through the joint venture 7600 Manchester LLC, acquired a 292-unit apartment complex at 7600 Manchester Ave. in Playa del Rey for $24 million from Playa Holdings. Kennedy-Wilson was represented in-house by Robert Hart. Mary Friedman of Diversified Investment Brokerage represented the seller.

* Moss Adams signed a 10-year lease for 46,556 square feet of office space at the Landmark II building at 11766 Wilshire Blvd. in Los Angeles. The parties did not disclose the value of the lease, but it would be more than $18 million at the average rent in the building calculated by CoStar Group Inc. The tenant was represented by Clayton S. Hovivian of Cushman Realty Corp. The landlord, Douglas Emmett & Co., was represented in-house by Susan Loranger.

* Foremost Business Park acquired a 134,518-square-foot industrial park on 8.1 acres at 4875 E. La Palma Ave. in Anaheim from Catellus Commercial Group for$10.1 million. Bob Griffith and Jeff Chiate of Cushman & Wakefield represented the seller. The buyer was represented by Al Pekarcik of Voit Commercial Brokerage.

* FDK Enterprises of Orange bought the 104-unit Bascom Square Apartments at 222 N. Muller St. in Anaheim for $7.8 million from 222 N. Muller Apartments LLC of Irvine. Ken Morgan and Jay Skenderian of Morgan Skenderian Investment Real Estate Group represented the buyer and the seller.

* Multilink Technology Corp. of Somerset, N.J., signed a five-year, $5.6-million lease that will expand its offices from 9,677 square feet to 29,601 square feet of office space at 2850 Ocean Park Blvd. in Santa Monica Business Park. Mark Berman and Scott Carr of Westmac Commercial Brokerage Co. represented the tenant. The landlord, Spieker Property, was represented in-house by Gail Goldstein and Craig Schwartz.

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