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September 05, 2000

* Construction has begun on a 217,000-square-foot bakery building for York, Pa.-based Stauffer Biscuit Co., manufacturer of Original Animal Crackers, at Gateway Corporate Centre on Garry Avenue near the Santa Ana River in Santa Ana. Michael Hartel of Colliers Seeley represented the bakery in its 15-year, $21.5-million lease of the property. John Sutherland of Property Resources Inc. represented the landlord, Ewing Development Co.

* Pachulski Stang Ziehl Young & Brown has renewed and expanded its lease at 10100 Santa Monica Blvd. in Century City for 10 more years. The transaction, covering roughly 37,000 square feet in the 26-story tower known as Century City North, is valued at about $17 million. Gary Weiss of DLJ Realty Services represented the tenant. David Jordan of Hines Interests represented the property owner, a Florida public pension fund advised by the Hines group.

* Sagamore Equities bought the Clock Tower, a 55,000-square-foot office building and 15,000-square-foot retail space at 225 Santa Monica Blvd. in Santa Monica, from Amcal Partners of Los Angeles for $14.6 million. Sagamore plans to invest $5 million to renovate the building and repair the clock, which stopped working Jan. 17, 1994, when the Northridge earthquake struck, said Cushman Realty brokers Ryan Smith, Eric Olofson and Michael DeSantis, who represented the buyer and the seller.

* Interstate Equities Corp. acquired the 24,517-square-foot Marina Design Center at 4052 Del Rey Ave. in Marina del Rey for $5 million from Lincoln Del Rey Ltd. The seller was represented by Lloyd Bakan and Luke Palmo of Westmac Commercial Brokerage Co. The buyer was represented by Jeff Gershon of Told Partners.

* Travelers Insurance Co. signed a five-year, $4.5-million lease for 35,000 square feet of office space at 700 N. Central Ave. in Glendale and will move there from Van Nuys in October. The tenant was represented by Nico Vilgiate of Insignia/ESG and Tom Maloney of Cushman Realty Corp. The landlord, Westbrook Partners, was represented by Bill Boyd of Grubb & Ellis.

* Beverly Hills-based A&R Management & Development Co. and ARGC Partners acquired a 120,615-square-foot shopping center at 1120-1190 W. Foothill Blvd. in Azusa for $4.2 million from West Bountiful, Utah-based Price Enterprises Inc. The buyers were represented by Mark Bryant and Reza Etedaldi of Sperry Van Ness. Price Enterprises represented itself.

* Malibu-based 333 N. Lantana LLC bought a 37,000-square-foot office building at 333 N. Lantana St. in Camarillo for $2.5 million from the Carpenters Pension Fund. Tony Principe of Westcord Commercial Real Estate Services represented the buyer. The seller was represented by Chuck Engle, Tom Dwyer and Michael Slater of CB Richard Ellis.

* Kobe Katz Inc. bought a five-story, 40,000-square-foot office building at 801 S. Flower St. in Los Angeles from Dr. Jerry Kennett for $2.2 million. Bradley A. Luster of Major Properties represented the buyer and the seller. He said the buyer, a jewelry manufacturer, intends to occupy two floors of the building.

* Jack Siegman acquired a 33,107-square-foot industrial building at 420 W. Crowther St. in Placentia for $2.2 million from Wanda Long and Gary Turner. Randy Verdieck of Lee & Associates represented the buyer and the sellers.

* Boeing Co. signed a five-year lease for 165,000 square feet of space at 4801 Airport Plaza Drive in Long Beach. Joseph Vargas and James Jandro of Cushman & Wakefield represented the landlord, Long Beach Airport Business Park II. The tenant was represented by Bill Peters and Gregg Kirkpatrick of CB Richard Ellis. The parties did not disclose the value of the lease, but real estate industry sources estimated its value at about $15 million.

* Larkspur, Calif.-based F&F Partners bought the 148-unit City Villas Apartments at 13061 Lampson Ave. in Garden Grove for $14 million from JH Real Estate Partners of Newport Beach. Douglas Froehlke of Marcus & Millichap represented the buyer and the seller.

* Ganider Walreg of Chino acquired the 46-room Inn of Long Beach for $2.5 million from Alex Horowitz of Palos Verdes. The buyer and seller were represented by Gordon Allred, Mina Patel, Douglas Danny and Teina Tahauri of Marcus & Millichap.

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