Deals
* Bascom Group, an Irvine-based investment partnership, acquired the 152-unit Parkview Village Apartments at 20707 Anza Ave. in Torrance for $12 million from Great Anza Investments Inc., according to Scott McClave, acquisitions manager for Bascom. Baron Jones of Grubb & Ellis represented the buyer. The seller was represented by Dee Chang of Dee’s Realty. McClave said Bascom will spend $2.8 million on renovations and remodeling of the property.
* Bascom Group acquired the 160-unit Cypress Grove Apartments at 9950 Juanita St. in Cypress for $9.4 million from Cypress Grove Partnership. Peter Hauser of the Charles Dunn Co. represented both the buyer and the seller. Scott McClave, acquisitions manager for Bascom, said the company plans more than $1.4 million in renovations and remodeling of the complex.
* Shaw Industrial Property Services, a Newport Beach-based developer, purchased eight acres of land on Goddard Street near the intersection of Irvine Center Drive and Lake Forest Drive in the Irvine Spectrum for approximately $6 million from Irvine Co. and plans to develop a 110,000-square-foot industrial project on the site. Mike Hartel of Seeley Co. represented Shaw. Stan Mullin and Jim Cunningham of Grubb & Ellis represented the Irvine Co. in the transaction.
* David Zaslow of Los Angeles acquired the 76-unit Monrovia Villas Apartments at 340-410 W. Duarte Road in Monrovia for $4.7 million from Arroyo Seco Enterprises Ltd. of Monrovia. Ken Morgan and Jay Skenderian of Morgan Skenderian Investment Real Estate Group represented the buyer. The seller was represented by John Walsh of Walsh & Co.
* Rim Pacific Investors Portfolio, an Irvine-based investment group, purchased a 64-unit apartment complex at 1313 Memory Lane in Santa Ana for $4.3 million from Memory Lane Associates. Peter Hauser and David Elliott of the Charles Dunn Co. represented both the buyer and the seller.
* PFC Enterprises, a San Jose-based private investor, purchased Parkridge Meadows, an 88-unit apartment complex at 221 E. Parkridge Ave. in Corona, from Cupertino-based Parkridge/JMA Apartment Fund for $4.2 million. John Kalmikov of Grubb & Ellis represented the buyer. Bill Roblero of Grubb & Ellis represented the seller.
* Forward Air Inc., an air freight company, signed a five-year, $3.5-million lease on 85,000 square feet of industrial space for a new distribution center at 12530 S. Prairie Ave. in Hawthorne, where it will relocate from 60,000 square feet in Redondo Beach. David Drummond and Sean O’Donnell of Seeley Co. represented the tenant. Drummond and O’Donnell also represented the landlord, L.A./Hawthorne Realty, along with Seeley’s Garrison Parcells.
* Principals of auto parts distributor Performance Products, doing business as Melron, acquired a 57,859-square-foot industrial building at 8000 Haskell Ave. in Van Nuys for $3.2 million from the Ruth Lieberman Trust in a move that will triple the size of Performance’s headquarters. Scott Caswell of Delphi Business Properties, who represented the seller, said Performance will employ about 80 people at the facility, which formerly was occupied by Sun Litho and Litton Industries. Ron Feder of R.J. Feder & Associates represented the buyers.
* West Coast Gasket Co. bought a 46,513-square-foot industrial building at 300 Ranger Ave. in Brea from Angelica Corp. for $2.9 million. John M. Minervini and Erik J. Larson of Cushman & Wakefield represented the seller. The buyer was represented by Jeff Chiate and Rick Ellison of Cushman & Wakefield.
* Lynch Entertainment acquired a 30,000-square-foot television and film production building at 5900 Blackwelder St., near La Cienega and Washington boulevards in Culver City, for $2.8 million from J. Sally Dayness. Daniel Merrit of Goodglick Co. represented the seller. The buyer was represented by Tom Cherry of Cushman Realty Corp.
* Sares-Regis Group acquired 16 acres of land at 1300 Holt Ave. in Pomona for $2.8 million from Simpson Paper and Attyah Trust. Bruce Bearer, a senior vice president at Sares-Regis Group’s Commercial Property Group in Irvine, said the company plans to develop a $13.5-million project called West Pomona Distribution Center on the site. Bruce Haas of CB Richard Ellis represented both the buyer and the sellers.
* BJF Enterprises bought a 57,800-square-foot industrial building at 7110 Jackson Ave. in Paramount from Naturade Inc. for $2.4 million. John M. Minervini and Erik J. Larson of Cushman & Wakefield represented both the buyer and the seller.
* Petco Inc., a San Diego-based retailer of pet products, signed a 10-year, $2.3-million lease for 15,000 square feet of retail space at 6735 Westminster Blvd. in Westminster. Mark Baziak of Grubb & Ellis represented the landlord, El Segundo-based Summit Commercial. Robert Remor of Pentz & Partners represented the tenant.
* North American Pet Products, a Placentia-based pet-products company, acquired a 41,820-square-foot industrial building at 1240 Quarry St. in Webb Site Business Center in Corona for $2.1 million from Corona II. Troy Williams and Scott Read of Grubb & Ellis represented the buyer. Larry Null of Lee & Associates represented the seller.
* Investment group 7th Street Partners purchased a 19-unit apartment building at 1110 W. 10th St. in San Pedro for $2.1 million from California Federal Bank. Keith Hagaman of Renaissance Realty Advisors represented both the buyer and the seller.
* Park East Investors, a Los Angeles-based partnership, acquired the 44-unit Buffalo Califa Apartments at 13617 Califa St. in Van Nuys for $2 million from Buffalo-Califa Partners. Dean Zander of Hendricks & Partners represented both the buyer and the seller.
* St. Mary’s Ethiopian Orthodox Church acquired an 18,000-square-foot church at 5707 Shenandoah Ave. in Los Angeles for $1.4 million from Ladera Church of the Brethren. The buyer was represented by Nolan Lam of Klabin Co. The seller was represented by Leonardo Wilborn of L.V. & L.B. Wilborn Real Estate Management.
* HR & GK Inc. acquired a 24,345-square-foot industrial building at 13740 E. Nelson Ave. in Industry for $1.3 million from SB Transportation. The seller was represented by Shan Lee of Daum Commercial Real Estate Services. The buyer was represented by Andrew Clark, also of Daum.
* Jack Crouse of Redondo Beach acquired the 22-unit Rancho Apartments at 941 N. Walnut St. in La Habra for $1.2 million from Susan Knox of Anaheim. Ken Morgan and Jay Skenderian of Morgan Skenderian Investment Real Estate Group represented the buyer. The seller was represented by Guy Torelli of Torelli Realty.
* Beach Front Properties Inc. of Lomita acquired the 22-unit Olinda Lane Apartments at 3444 W. Olinda Lane in Anaheim for $1.1 million from Edward Evans. Charlie Kennedy and Sandra Sellani of Sperry Van Ness represented the buyer. The seller was represented by Gary Pesner and Luis Vazquez, also of Sperry Van Ness.
