$1.3 Million Awarded in Building Dispute

A jury this week awarded more than $1.3 million in damages to the owner of a pizza restaurant chain stemming from a legal dispute over the sale of a Santa Ana apartment building. Alex Meruelo, owner of the La Pizza Loca chain in Buena Park, was awarded damages against Marcus & Millichap Real Estate Investment Brokerage Co., the nation’s largest real estate investment brokerage firm. Meruelo had alleged in a 1997 lawsuit that one of the Palo Alto-based firm’s former sales agents had made misrepresentations that prevented him from buying the 30-unit apartment building at 1501 N. Ross St. The jury’s verdict came at the conclusion of a trial that began June 1 in Orange County Superior Court. The panel voted 9 to 3 to award more than $1.2 million in punitive damages to be paid by Marcus & Millichap and $95,000 in compensatory damages to be paid by the firm and former agent Phillip Dodge, who was fired after an internal investigation of the deal. Dodge denied that his termination was related to the dispute. Marcus & Millichap officials said Friday that they will ask the judge to throw out the award, which they believe is excessive. If they are unsuccessful, they will appeal.