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JH Real Estate Buys Unit in Palm Desert

January 01, 2002

JH Real Estate Partners of Newport Beach acquired the 512-unit San Tropez Apartments at 73373 Country Club Drive in Palm Desert from Irvine-based Beauchamp Realty Investors for $40 million. The seller was represented in-house by Tom Henschen. JH Real Estate represented itself.

San Diego-based ACK Pacific Petroleum Inc. bought the 120,167-square-foot Southridge Plaza at 11613-11683 Cherry Ave. in Fontana for $14.5 million from Kensington Southridge LP of Tustin. Gregory Brown and Edward Hanley of Marcus & Millichap represented the buyer and the seller, along with Tom Robinson of NTC Commercial.

Almost Cypress LLC of Palos Verdes bought the 102-unit Cypress Gardens Apartments at 21600 Bloomfield Ave. in Cypress for $8.5 million from the Bascom Group of Irvine. The buyer and seller were represented by Jay Skenderian and Ken Morgan of Morgan Skenderian Investment Real Estate Group and Gary Tolfa of Investment Property Group.

Ed Cerna of San Francisco bought the 88-unit Cypress Village Apartments at 6343 Lincoln Ave. in Cypress from Bascom Lincoln Avenue Apartments of Irvine for nearly $8.3 million. The buyer and seller were represented by Ken Morgan and Jay Skenderian of Morgan Skenderian Investment Real Estate and Gary Tolfa of Investment Property Group.

Advanced Real Estate Services bought the 74-unit Glassell Gardens Apartments at 1491 Glassell St. in Orange from David Tsoong for nearly $7.7 million. Cray Carlson and Kevin Struve of Marcus & Millichap represented the buyer and the seller.

Lee Kum Kee (USA) Inc., a manufacturer of sauces and condiments, signed a 10-year, $5.6-million lease for a 110,929-square-foot industrial building at 14841 Don Julian Road in Industry. The tenant was represented by Steve Bellitti and Tom Calhoun of Colliers Seeley International. The landlord, Bechler Corp., was represented by Ted Carpenter of Carpenter & Associates.

Griley Freightlines signed a 10-year, $6-million lease for a 103,000-square-foot industrial building at Watson Industrial Center South in Carson. Don Smith of Lee & Associates represented the tenant. The landlord, Watson Land Co., was represented in-house by Kirk Johnson and Lance Ryan.

Avenue Crocker Investors of Los Angeles purchased a 90,000-square-foot industrial building at 28340 Avenue Crocker in the Valencia Industrial Center in Valencia from Earle Properties of Agoura Hills for $5.6million. Jim Linn, Nigel Stout and Chris Jackson of Grubb & Ellis represented the buyer and the seller.

HC Fullerton LLC, a joint venture of Los Angeles-based Hanover Financial Co. and Newport Beach-based Clifford Cos., sold an 87,474-square-foot industrial building at 2356 Morre Ave. in Fullerton to Bixby Land Co. for $5.1 million. The seller and the buyer were represented by Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage.

Properties LLC acquired the 217,800-square-foot Van Nuys Plaza at 7100 Van Nuys Blvd. in Van Nuys from Fu Ta Partners for $4.8 million. Stephen Lampe of Marcus & Millichap represented the buyer. The seller was represented by Frank Whang of Pacific International Properties.

Wyrefab Inc., a manufacturer of welded wire products, signed a 10-year, $4.8-million lease for 82,500 square feet of industrial space at 15777 S. Broadway in Los Angeles. Gary Blau of Goodglick Co. represented the tenant. The landlord, Western States Technologies, was represented by Jack Karp of National Properties Group.

Shandwick USA, a public relations firm, signed a three-year lease to expand by 5,927 square feet to a total of 40,062 square feet at 1888 Century Park East in Century City. The tenant was represented by Steven Kolsky and Scott Panzer of Newmark & Co. Real Estate Inc. The landlord, Bental 1888 LLC, was represented by Mickey Isen of Kennedy Wilson. Financial terms of the lease were not disclosed, but industry sources estimated it at $4.5 million.

Ventura Gaviota LLC purchased a 32,000-square-foot office building at 16001 Ventura Blvd. in Encino from Newell & Associates for $4.3 million. The buyer was represented by Bob Scullin and Michael Zugsmith of NAI Capital Commercial. The seller was represented by Cathy Scullin and Art Waldstein of NAI Capital Commercial.

Metro International Trade Services Inc., a warehousing and logistics provider, signed a four-year, $3.8-million lease for a 169,040-square-foot building in Watson Industrial Center South in Carson. The landlord, Watson Land Co., was represented in-house by Kirk Johnson and Lance Ryan. Metro International represented itself.

General Cable Corp., a manufacturer and supplier of cable and wire products, signed a five-year, $3.5-million lease for a 165,000-square-foot industrial building at the Majestic Spectrum development in Chino. Kris Bjorson, Mike Smith and Jonti Bacharach of Staubach Co. represented General Cable. The landlord, Majestic Realty, was represented in-house by Kevin McCarthy, Trent Wylde and Dave Wheeler.

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