DEALS
* A joint venture of Brown/Colarusso & Associates Inc. of San Diego and the Netherlands’ ING Group has purchased the 57.5-acre Scripps Ranch Business Park-Phase III in San Diego from Allstate Insurance Co. for $37.4 million. According to broker Rick Sparks of CB Richard Ellis, who represented both buyer and seller along with fellow CB broker Brent Wright, the newly formed Brown/Colarusso-ING venture plans to sell lots and develop build-to-suit projects on the site.
* Koll Development of Newport Beach has purchased a 50,000-square-foot office building in Pasadena’s financial district for $6 million. Koll purchased the building at 199 S. Lake Ave. from Glendale Federal Bank. Its retail banking operations will remain in the building, occupying 6,400 square feet on the ground floor. Dick Schnell of Cushman Realty represented Glendale Federal in the deal.
* Enterprise Car Sales has signed a 20-year, $3.6-million ground lease for more than 87,000 square feet of vacant land at 28112 Camino Capistrano in Laguna Niguel. The rental company will use the land for car rentals and sales. Arthur Polacheck of Capital Commercial/NAI represented both Enterprise and landlord La Tierra Buena, an investment group.
* U.S. Business Bank has leased more than 15,000 square feet of space at 523 W. 6th St. in Los Angeles from L.A. Pacific Center Inc. for 10 years in a transaction valued at nearly $2.8 million. Bradley Luster of Major Properties represented U.S. Business Bank, while Kevin Housman and Mike Lee of Charles Dunn Co. represented L.A. Pacific Center.
* Amtrend Corp. of Anaheim, one of California’s largest manufacturers of seating for restaurants, casinos, commercial banks and retailers, has purchased a 49,500-square-foot industrial building at 1458-1464 S. Manhattan Ave. in Fullerton for $2.1 million from the Clifford Co. Amtrend was represented by Chris Migliori, associate vice president at the Anaheim office of Daum Commercial Real Estate Services. The Clifford Co. was represented by Louis Tomaselli.
* Haas Audio Video owners Jeff and Cindy Haas have purchased a 16,800-square-foot building at 5770 Uplander Way in Culver City from DRD Uplander Investments for $1.75 million. The seller was represented by John Bertram, Greg Sackler and David Thurman of Westmac Commercial Brokerage Co. Scott Word of the Seeley Co. represented the buyers.
* Super Alloy (USA) Ltd. has signed a five-year, $1.3-million lease for more than 52,000 square feet of industrial space at 15210 E. Nelson Ave. in the city of Industry to be used as a toy warehouse and distribution center. Marc DiGennaro and Anthony Brent of Lee & Associates represented the landlord, the Shidler Group, while Philip Reavis of Reavis Realty Corp. represented Super Alloy.
