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COMMERCIAL REAL ESTATE

February 27, 2001

Frome Investments purchased 16 multi-tenant office and industrial buildings in the Garden Grove Commerce Center in Garden Grove totaling 218,036 square feet for about $14.8 million. The properties comprise three office buildings totaling 28,640 square feet at 7411-7461 Garden Grove Blvd. and 13 industrial and flex buildings at 12755-12891 Western Ave. totaling 189,396 square feet. Louis Tomaselli, Mitch Zehner and Robert Socci of Voit Commercial Brokerage represented the buyer and the seller, Voit GGCC.

* Financial Statement Services of Santa Ana signed a 10-year lease valued at more than $13.6 million for 164,398 square feet of industrial space at 3300 S. Fairview Ave. in Santa Ana. Chip Wright of CB Richard Ellis represented the tenant. Dave Desper of CB Richard Ellis represented the landlord, LAPCO Industrial Parks.

* West Coast Liquidators Inc. sold its 266,000-square-foot building at 2430-2456 Del Amo Blvd. in Carson to San Francisco-based A&B Property Corp. for $12.4 million. Jim McLaughlin and George Eshaghian of Cushman Realty Corp. represented the seller, which is a subsidiary of Consolidated Stores Corp. A&B represented itself.

* Reliance Steel & Aluminum Co. signed an 11-year, $10-million sublease for 44,847 square feet of office space at Two California Plaza at 350 S. Grand Ave. in Los Angeles. Thomas G. McDonald of Cushman Realty Corp. represented the sub-landlord, Aames Financial Corp. The tenant was represented by Joseph Faulkner and Bart Pucci of Grubb & Ellis.

* Lehman Bros. signed a seven-year, $9.2-million sublease for 25,139 square feet of office space at 10880 Wilshire Blvd. in Westwood, said J.D. Cook, managing director of CSFB Realty Corp., the real estate brokerage arm of Credit Suisse First Boston Corp. The sub-landlord, Credit Suisse First Boston, was represented by Cook as well as CSFB's Alan Carmichael and Raj Vakharia. Clay Hammerstein of Insignia/ESG represented Lehman Bros.

* Airline food caterer Hacor Inc. acquired a 55,000-square-foot industrial building at 8506 Osage Ave. near Los Angeles International Airport from AEW for $5.8 million and plans to convert the structure into a catering kitchen for international airlines. Jim Sullivan and Harvey Beesen of Klabin Co. represented the seller. Beesen and Ken Simpson of Klabin represented the buyer.

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