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COMMERCIAL REAL ESTATE

Deals

February 20, 2001

* A partnership led by Sanderson J. Ray Development Co. of Irvine bought 151,445 square feet of the Santa Margarita Town Center in Rancho Santa Margarita for $22 million from Koll-Santa Margarita Retail Venture II, a partnership of Koll Co. and Metropolitan Life Insurance Co. Bob Criell of Lee & Associates represented the buyer. The seller was represented by Michelle Schierbeil and David Lowry of Grubb & Ellis.

* HC Fullerton, a joint venture of Los Angeles-based Hanover Financial Co. and Clifford Co. of Newport Beach, acquired about 400,000 square feet of industrial space in eight buildings at 2300-2330 Raymer Ave. in Fullerton for about $19.4 million from Trust Co. of the West. The buyer and seller were represented by Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage.

* Glendale-based 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 headquarters there in the spring. Executive Software plans to occupy 45,000 square feet and lease the remaining 27,000 square feet, said Brian Metcalfe and Don Ferris of Cushman & Wakefield, who represented the buyer 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 about $10.3 million from Beta West/PHL OPCO. The seller was represented by Rick Putnam, Jeff Cole, Scott Crawshaw and Carl Anderson of Trammell Crow. The buyer was represented by R. Scott Martin of Charles Dunn Co.

* Pacific Property Co. bought the 168-unit Valley Country Club Apartments at 15353 Weddington St. in Sherman Oaks for $9.9 million from Lou Kestenbaum. Chris Thompson of Investment Real Estate Associates represented the buyer. The seller was represented in-house.

* The Orange County Social Services Department signed a seven-year, $8.2-million lease for 77,950 square feet of office space at 6100 Chip Ave. in Cypress. Brian DeRevere, Bob Goodmanson and Brad Bierbaum of CB Richard Ellis represented the tenant and the landlord, Warland Investments.

* Pacific Prime Properties sold its 130,000-square-foot South Bay Studios complex at 20434 S. Santa Fe Ave. in Carson to South Bay investor Courtney Dubar for about $6.1 million. Howard Schwimmer and Chuck Brill of Daum Commercial Real Estate represented the seller. The buyer was represented by Jon Sweeney of Matlow-Kennedy.

* Creative Domain Inc. signed a seven-year, $5.8-million lease for 28,440 square feet of office space in TV Guide Hollywood Center at 6922 Hollywood Blvd. The tenant was represented by Mark Berman of Coldwell Banker CommercialWestmac. The landlord, CIM/Hollywood, was represented by John Eichler and Brad Feld of Cushman & Wakefield.

* Schwartz Torrance Co. acquired the 47,432-square-foot Pic 'N Save Plaza at 955 W. Sepulveda Blvd. in Torrance from PSN99 for $5.4 million. Ronald Harris and Matthew Sullivan of Marcus & Millichap represented the seller. Kenneth Hitchcock, also of Marcus & Millichap, represented the buyer.

* PacSan Management acquired the 64-unit Portofino Apartments at 13202 Downey Ave. in Paramount from McCam Properties for $5.3 million. Dash Chopra of Sperry Van Ness represented the seller. The buyer was represented by Bill Raffin of Raffin Realty.

* Parkway Motors, a Valencia-based automobile dealer, bought 2.76 acres on Magic Mountain Parkway for $3 million from Newhall Land & Farming Co. for a new dealership. Ray Bayat, Bert Abel, Mitch Bayat and John Cserkuti of Grubb & Ellis represented the buyer and the seller.

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