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Commercial Real Estate | DEALS

Lend Lease Buys Apartment Complex for $23.2 Million

August 28, 2001

Lend Lease Real Estate Investors of San Francisco acquired the 245-unit Rancho Valencia Apartments at 9155 Central Ave. in Garden Grove for $23.2 million from Bascom Group of Irvine. Baron Jones, Jerry Giglio, William DuBrowa and Arlan Murata of Grubb & Ellis represented the buyer and the seller.

San Marcos Plaza LLC of Irvine bought the 160,567-square-foot San Marcos Plaza at 330-340 Rancheros Drive in San Marcos for almost $8.5 million from Island Realty of La Jolla. Frank Kosi of Sperry Van Ness represented the buyer. Louay Alsadek of Business Real Estate Brokerage represented the seller.

Hydra Warehousing & Consolidation Inc., a Sacramento-based third-party logistics firm, leased a 155,992-square-foot industrial building at 14255-317 Lomitas Ave. in La Puente for 10 years for $8.4 million. Jim Center of Grubb & Ellis represented the landlord, Lomitas LLC of Anaheim. Paul Dutra of CB Richard Ellis represented the tenant.

Art & Architecture Books of the 21st Century signed a 10-year, $5.4-million lease for the entire 14,300 square feet of the former Toronto Dominion Bank Building at 9430 Wilshire Blvd. in Beverly Hills. Phil Seymour of Elite Properties Realty represented the landlord, Consolidated Capital Investment Group. The tenant represented itself.

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