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COMMERCIAL REAL ESTATE

Deals

September 26, 2000

* GE Capital Realty Group bought the eight-building, 189,879-square-foot Warner Commerce Center complex on 11 acres between DeSoto and Variel avenues in Woodland Hills for $21 million from Commerce Park Associates. Lynwood Fields of Madison Partners represented the buyer and the seller.

* Boston-based Hart Advisors acquired a recently renovated and expanded 276,000-square-foot industrial building at 1600-1650 N. Kraemer Blvd. in Anaheim for $18 million from Brentwood-based Proficiency Capital. Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage represented the buyer and the seller.

* New York-based law firm Dewey Ballantine signed a 10-year, $15-million lease for 50,000 square feet of office space at Wells Fargo Tower North at 333 S. Grand Ave. in Los Angeles and is scheduled to move in to the new space in May 2001. Cushman Realty Corp.'s John C. Cushman III, Christopher C. Rising and Andrew R. McDonald represented the tenant. The landlord, Maguire Partners, was represented in-house by Tony Morales and Patrick McRoskey.

* West Los Angeles-based Thomas Safran & Associates acquired a 200-unit Department of Housing and Urban Development subsidized senior housing complex at 401 W. 1st St. in Santa Ana for $11.7 million from Mitsui Real Estate Sales of Torrance. Safran has chosen to preserve the property as HUD-subsidized senior housing, according to Bruce Furniss of Grubb & Ellis, who represented Safran and Mitsui along with Grubb & Ellis brokers David Casper, Baron Jones and Bill DuBrowa.

* Dallas-based Crow Family Holdings purchased 53 acres of land at the southwest corner of Arrow Highway and Irwindale Avenue in Irwindale from Los Angeles-based CalMat Properties for $9 million for the second phase of Irwindale Business Center, a 116-acre business park the company is developing. Jim Center, Bob Moffatt and Cathy Moffatt of Grubb & Ellis represented the buyer and the seller. The brokers said the property will be used for speculative industrial development.

* Liberty Office Partners acquired a 45,235-square-foot office building at 6 Liberty in Aliso Viejo for $8.8 million from Liberty Commercial Properties. Chris Deason and Dave Alderman of Voit Commercial Brokerage represented the buyer and the seller.

* Nexus Properties, a Newport Beach-based real estate development company, purchased a 100,000-square-foot industrial building at 1920 Maple Ave. in El Segundo for $7.3 million from Redondo Beach-based Douglas Furniture and has leased the facility to Santa Clara, Calif.-based Exodus Communications, which is slated to occupy the building in November. Terry Reitz, Jim Biondi and Gerald Kim of Grubb & Ellis represented the seller. George Reilly of CPS represented the buyer.

* ATI Systems International, an armored transport service, signed a five-year, $7-million lease for 13,450 square feet of office space at its corporate headquarters at 3280 E. Foothill Blvd. in Pasadena. R. Todd Doney and Nico Vilgiate of Insignia/ESG represented the tenant. The landlord, Spieker Properties, represented itself.

* House of Blues Entertainment has expanded its corporate headquarters to a total of 75,000 square in the Sunset Media Tower at 6255 Sunset Blvd. in Hollywood by signing a nine-year, $6.4-million lease for an additional 27,000 square feet of office space. Mitch Stokes and Bob Safai of Madison Partners represented the landlord, Archon Group. The tenant was represented by Craig Jablin and Seth Dudley of Julien J. Studley Inc.

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