Deals
SRC has purchased 605 Firestone Shopping Center, a 50,788-square-foot complex on Firestone Boulevard in Norwalk, from Venture Partners for $8.25 million. The center is anchored by a Smart & Final, Chuck E. Cheese and a Social Security office. Joe Faris and Ken Scott of Faris Lee Investments represented the seller in the transaction.
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Mission Viejo investor Cook Enterprises has acquired a 54,000-square-foot industrial building in Tustin from Elias Properties for $3.1 million, according to Brad Christian of Seeley, which represented Cook in the deal. The building, which houses commercial baker Bungee Foods, sits on 2.6 acres of land at 15601 Mosher St.
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Efraim Trust of Los Angeles bought a 7,000-square-foot office building at 1323 N. Lincoln Blvd. in Los Angeles from Howroyd Trust of Glendale for $1.1 million, according to James Stanfill of Westmac Commercial Brokerage, who represented both buyer and seller in the deal.
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Hain Food Group, a manufacturing and distribution company, has signed a five-year, $2-million lease for 100,000 square feet of space at Los Angeles Industrial Center in Compton to expand the company’s West Coast regional headquarters.
According to Daniel B. Sibson, real estate manager for Investment Development Services, the lease includes approximately 10,000 square feet of office space. Sibson, Jeff Morgan and John Schumacher of CB Richard Ellis represented owner Equitable Life Insurance in the transaction. Travers/McKinney and Insignia Commercial Group represented Hain.
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Dental health maintenance organization Community Dental Services, which operates the SmileCare network of clinics, will expand and relocate its headquarters from the Lakeshore Towers office complex in Irvine to about 20,000 square feet on Sunflower Street in Santa Ana. The move from the “Class A” office building to a low-rise owned by European pharmaceutical company Codan International will reduce SmileCare’s rent by about half on a per-square-foot basis, said Robert Chavez of Metrospace, who negotiated the five-year, $5-million lease transaction on the tenant’s behalf. Community Dental, which continues to expand the SmileCare chain statewide, will join Codan as well as Nordstrom’s regional administration center at the site. CB Richard Ellis’ Chip Wright represented Codan in the lease negotiations.
