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Commercial Real Estate

Deals

February 06, 2001

* EGL Eagle Global Logistics, a Houston-based provider of logistics services, will relocate its Los Angeles facility from Hawthorne to a 305,400-square-foot industrial building in Harbor Gateway Commerce Center at 19600 Western Ave. in Los Angeles after signing a 10-year, $22-million lease. EGL will relocate its 370-employee domestic airfreight operations in March. Bret Quinlan and David Cook of Cushman & Wakefield represented EGL. The landlord, investment advisor RREEF, was represented by Eric Knirk of Fremont Associates, which developed Harbor Gateway on behalf of RREEF.

* APW Enclosure Systems Inc. signed a seven-year, $11-million lease for 321,600 square feet of industrial space at the Plantation business park at Grand Avenue and Valley Boulevard in Industry. Steven Bellitti, Thomas Taylor and Clyde Stauff of Colliers Seeley International represented the landlord, the Plantation Portfolio, whose principals are Sares Regis Group of Irvine and Great Point Investors of Boston. The tenant was represented by Rick Sheckter of Grubb & Ellis.

* Glendale-based software developer Executive Software acquired a 72,000-square-foot office building on 3.9 acres at 7590 N. Glenoaks Blvd. in Burbank from Elie J. Moreno for $10.7 million and plans to move its corporate headquarters there in the spring. The buyer was represented by Brian Metcalfe and Don Ferris of Cushman & Wakefield, along with Ray Lepone of Grubb & Ellis. Metcalfe and Ferris also represented the seller.

* Stivers Investment Co. acquired an 83,500-square-foot office building at 1333 Mayflower Ave. in Monrovia for approximately $10.3 million from Beta West/PHL OPCO. R. Scott Martin of Charles Dunn Co. represented the buyer. Rick Putsman of Trammell Crow represented the seller.

* Plantation Portfolio sold a 164,760-square-foot industrial building at the Plantation business park in Industry to Ringwood Avenue Portfolio for $9 million. Steven Bellitti, Thomas Taylor and Clyde Stauff of Colliers Seeley International represented the seller. The buyer was represented by Chris Bonney of Lee & Associates.

* CNA Trust, an employee pension and trust administration specialist, signed a five-year, $7.5-million lease renewal for 55,000 square feet at South Coast Corporate Center, 3080 Bristol St., Costa Mesa. The landlord, MetLife, was represented by Barry Gail and Richard Essen of Cushman & Wakefield. CNA Trust was represented by Steve Barker of Julien J. Studley Inc.

* Lucky Brand Dungarees, a national manufacturer and retailer of denim clothing, signed a 10-year, $7-million lease for a 123,445-square-foot industrial building at 5233 Alcoa Ave. in Vernon and is scheduled to occupy the building in the spring. The facility will house the company's corporate headquarters as well as design, manufacturing and distribution, said Bart Pucci of Grubb & Ellis, who represented the tenant. The landlord, Xebec of Commerce, represented itself.

* MMC Inc., a human resources company specializing in the health-care industry, purchased a 21,730-square-foot office building at 8150 Beverly Blvd. in Los Angeles from Salick Health Care for $5.2 million. The building will house MMC's corporate headquarters, according to David Lachoff and Kathleen Silver of Grubb & Ellis, who represented the seller. Thomas Patriarca of Grubb & Ellis and Yasmine Kashani of ReMax represented the buyer.

* United Stationers Supply Co. has expanded its facilities in Industry, signing a five-year, $4.9-million lease for 214,177 square feet of industrial space at 21508 Ferrero Parkway in the Grand Avenue Distribution Center, said Jim Center of Grubb & Ellis, who represented the tenant. United Stationers will occupy about 495,000 square feet. Vonda Reeves, Kent Stalwick and Darla Longa of CB Richard Ellis represented the landlord, Grand Avenue Venture, a joint venture of Wohl Property Group of San Juan Capistrano and Prudential Insurance Co.

* Walker Bros. Machinery Moving Inc., an Anaheim-based transporter and warehouser of machinery, purchased a 67,500-square-foot industrial building at 3839 E. Coronado Ave. in Anaheim from Acacia Properties Inc. of Newport Beach for $4.5 million. Steve Sprenger of Grubb & Ellis and Randy Coe of Colliers Seeley International represented the buyer. Jeff Read of Grubb & Ellis represented the seller.

* M.A.S. Investments purchased the 29,757-square-foot Old Town Irvine retail center at 14988 Sand Canyon Ave. in Irvine for $4.2 million from Irvine Old Town LLC. The seller was represented by Gene Shook of ITC Real Estate Group. The buyer was represented by Michael Steiner of Steiner Investment Co.

* General Precision Inc. bought a 69,878-square-foot research and development building at 24911 Avenue Stanford in Valencia Industrial Center from NK Instruments for $4.1 million. The buyer was represented by Jim Ebanks of Realty Advisory Group. The seller was represented by Craig Peters and Doug Sonderegger of CB Richard Ellis.

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