DEALS
* Cleveland-based Applied Industrial Technologies will move to Fontana from Corona and expand its operations under terms of a recently signed 10-year, $7-million lease on a 165,300-square-foot build-to-suit distribution center in the 141-acre Vintage Industrial Center at Marlay and Mulberry avenues in Fontana.
Operation Engineers Trust Fund, owners of the industrial center, plan to break ground later this month on the building and complete construction in January, according to broker Kevin McKenna of the Inland Empire office of Seeley Co., who represented the engineers trust fund along with David Consani of CB Richard Ellis. Seeley broker Peter McWilliams and Rhonda Siegrist, the company’s vice president of corporate services, represented Applied Industrial Technologies, which is a distributor of bearings and other industrial products.
* RJR Development Inc. of Stockton has acquired Capistrano Surf Center, a combination shopping center and office suites in Capistrano Beach, for $5.6 million from the Hall Family Trust of Capistrano Beach. Faris Lee Investments of Costa Mesa represented the seller in the all-cash transaction. Maverick Apartment Investments of Los Angeles represented RJR Development.
* Calhac Inc., a division of American Honda Motor Co., has leased a 130,620-square-foot building at 1765 W. Penhall Way in Anaheim from Rancho Dominguez-based Carson Cos. in an eight-year, $5-million deal.
Patrick Hanrahan, a senior vice president in the asset management division of Carson Cos., said Calhac, which packages air conditioning systems for Honda vehicles, will move into the new facility this summer in a consolidation of its operations at locations in Cerritos. Calhac was represented by Seeley Co. and Carson Cos. by CB Richard Ellis in the transaction.
* An investor doing business as 11058 Santa Monica Blvd. has purchased a 10,743-square-foot shopping center at the southeast corner of Santa Monica and Sepulveda boulevards in West Los Angeles for $2.4 million from Amresco.
Lloyd Bakan and John Bertram of Westmac Commercial Brokerage Co., who represented Irvine-based Amresco, said the one-story center, built in 1982, is 100% occupied and drew more than 200 inquiries from potential buyers. The buyer was represented by Greg Sackler of Westmac.
