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Commercial Real Estate | DEALS

CT Realty Sells Apartments to Invesco Client

July 17, 2001

CT Realty Corp. of Newport Beach sold the 280-unit Village Oaks Apartments at 15773 High Knoll Drive in Chino Hills for $30.4 million to a pension fund client of Invesco Realty Advisors. The buyer and the seller were represented by Mary Ann King and Scott David of Moran & Co.

Santa Monica-based Liberty Livewire Corp., a provider of technical and creative services to the entertainment industry, sold a 3.5-acre site on Colorado Avenue at 11th Street in Santa Monica to M&K Real Estate for about $14.5 million. The seller was represented by Christopher Houge, Rick Buckley and R. Todd Doney of Insignia/ESG and Raymond Horn of Liberty Livewire. The buyer was represented by Len Nadler and Mark Sullivan of Julien J. Studley Inc.

Tom Redfern acquired the 86-unit Glenoaks Apartments at 5412 and 5424 Sepulveda Blvd. in Sherman Oaks for $6 million from Burbank-Hazeltine Associates. The seller was represented by Tony Azzi of Marcus & Millichap. Greg Harris, also of Marcus & Millichap, represented the buyer.

Legacy Farms signed a six-year, $5-million lease for an 84,000-square-foot cold storage building at CommerceCentre at Buena Park, a 55-acre distribution center under development by Overton Moore Properties. David Norrie and Art Rasmussen of CB Richard Ellis represented the tenant and Overton Moore. Scott Smith of CB Richard Ellis also represented the tenant. The project is bounded by Knott Avenue, Fullerton Creek and Caballero Boulevard.

HA Cahuenga LLC, a joint venture of Los Angeles-based Hanover Financial Co. and Asset Management Consultants of Mission Hills, sold a 35,300-square-foot office building at 3151 Cahuenga Blvd. in Los Angeles to Leifer Family Trust for about $4.9 million. The buyer and seller were represented by Brian Hennessey of Grubb & Ellis.

Wohl Investment Co. of Irvine bought the 30,000-square-foot Barclay Plaza shopping center at the southwest corner of Newport Boulevard and 17th Avenue in Costa Mesa for $4.5 million from Herman Barros. The buyer and seller were represented by Carol Springstead of Pentz & Co.

The Ninos I partnership purchased three buildings, at 420, 460 and 480 Lambert Road in Brea, from Brea Towers C for $3.4 million. Rob Socci of Voit Commercial Brokerage represented the buyer and seller.

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