DEALS
* A group composed of some owners of Ricon Corp. and other investors acquired the company’s 200,000-square-foot headquarters at 7900 Nelson Ave. in Panorama City for $12 million from S&V; Associates. Ross Thomas of Delphi Business Properties, who represented the buyers and is one of the new owners, said the transaction marked the first sale of an industrial building at The Plant, a 65-acre development at the former General Motors assembly plant. Seller S&V;, a partnership of The Plant developers Selleck Properties and Voit Cos., was represented by Mike Clark, David Hasbrouck and Merv Kirshner of Cushman & Wakefield.
* Allstate Insurance Co. signed a 10-year, $9-million lease for 55,000 square feet of additional space at 21810 E. Copley Drive at Gateway Corporate Center in Diamond Bar, where Allstate signed a deal for 70,000 square feet in December. Gateway developer Opus West was represented in-house by Jeff Hill, who said Allstate will operate a 24-hour customer service center at the site. Allstate was represented by Dean Chandler and Jeff Morgan of CB Richard Ellis.
* Hillside Village Apartment Investors of Glendale acquired the 1,129-unit Hillside Village Apartments at 4343 Ocean View Blvd. in Montrose for $7.1 million, according to Peter Hauser of Charles Dunn Co., who along with Dunn’s David Elliott represented both the buyer and the seller, Hillside Village Partnership of London. .
* Hertz Group acquired Wilshire Square I, a 12-story, 142,565-square-foot office building at 3345 Wilshire Blvd., for $7 million from the Philippine National Bank. The seller was represented by Daron Campbell of Remax Commercial. Hertz Group represented itself.
* Chandler Real Properties, a Santa Ana-based investment group, has purchased a 101,840-square-foot industrial park at Bandilier Circle and Ellis Avenue in Fountain Valley for $6.5 million from QBM Cos. of Costa Mesa, according to Bryon Ward of Grubb & Ellis Co., who represented the seller in the transaction. Jim Snyder and Tom Torabi of Lee & Associates represented the buyer.
* Island Studios Inc. bought a 51,400-square-foot industrial building at 1845 W. Empire Ave. in Burbank for $5 million from Empire Burbank Studios. Ron Kassan and Bill Birtell of Beitler Commercial Realty Services represented both buyer and seller in the deal.
* Investment partnership 27 Pico Boulevard acquired a 20,00-square-foot shopping center at 8205-8139 W. Manchester Ave. in Playa del Rey and a retail site at 8360 W. Manchester Ave. for $4.1 million from the Fritz B. Burns Foundation. Michel Hibbert of Charles Dunn Co. represented the buyer. The seller was represented by Richard Dunn of Charles Dunn Co.
* AVG Partners acquired the offices of the Ventura County Star at 2595 Thousand Oaks Blvd. in Thousand Oaks for $3 million from BRV Inc., the parent company of the newspaper, which is moving its operations to other locations. George Eales of Daum Commercial Real Estate Services represented the newspaper in the sale, while Daum’s Stuart Scott represented the buyer. The brokers said AVG plans to use the property for a new fitness center.
* Crown Prince Seafood, an Industry-based distributor of seafood products, has purchased a recently completed 45,000-square-foot industrial building at 18581 Railroad St. in Industry for $2.9 million from Newport Beach-based Turner Development, according to Robin Dodson of Grubb & Ellis Co., who represented Crown Prince in the transaction. The building will house Crown Prince Seafood’s corporate headquarters and distribution operation. Brent Enright of CB Richard Ellis represented the seller.
* Viking Electronics, an aerospace industry manufacturer, acquired a 42,575-square-foot facility at 5455 Endeavor Court in Moorpark for $2.85 million from Beverly Hills-based Westamerica to relocate and expand Viking’s headquarters from the San Fernando Valley. John DeGrinis and Michael Tingus of Seeley Co. represented Viking in the purchase. Westamerica was represented by Bram White and Mitch Conlee of Daum Commercial Real Estate Services.
* Burke Real Estate Group acquired Edinger Eldorado, a 63,255-square-foot industrial park in Santa Ana, for $2.6 million from Harlan C. Erickson. Tom MacKinnon of Commercial Pacific Real Estate represented both buyer and seller in the transaction.
* NexCoil Inc., a distributor of steel coil, signed a six-year, $2.5-million lease for 113,327 square feet of industrial space at 1495 Columbia Ave. in Riverside’s Hunter Columbia Business Park. Chris Hauso and John Boyer of Capital Commercial/NAI represented the landlord, Iowa Riverside. Gary Blum of Lee & Associates represented NexCoil.
* Investor Donald Cavalletto acquired a 32,000-square-foot industrial building at 250 Turnbull Canyon Road in Industry for $1.6 million from F. Schumacker Co., according to Kerry Cole of Daum Commercial Real Estate Services, who represented the buyer. Scott Schumacker of Cushman & Wakefield represented the seller.
* Los Angeles Unified School District bought a 65,000-square-foot land parcel on West 7th Street between Parkview and Grandview streets for $1.5 million from the International Brotherhood of Electrical Workers Local 11. Robert Niccum, director of real estate for the district, said it plans to build a facility for children from kindergarten through second grade on the site. John E. Alle and Carole Walker of John Alle Co. represented both sides in the transaction.
* Fred and Roya Broukhim of Laguna Hills acquired a 14-unit apartment complex at 513-518 Bernard St. in Costa Mesa for $1.3 million from Andre Bakhtiari of Costa Mesa. Grant Hahn of Morgan Skenderian Investment Real Estate Group represented the buyer. The seller was represented by Sharoo Khastoo of Prudential Management.
* Main Street Properties sold a 14,129-square-foot office/warehouse building at 1890 Main St. in Orange for $1.2 million to John Jory Inc. Gary Marquis of 1st Option Commercial Real Estate represented the seller. The buyer was represented by Chris Migliori of Daum Commercial Real Estate Services.
* New York-based Epoch Films signed a 10-year, $1-million lease on 4,200 square feet of space at 9292 Civic Center Drive in Beverly Hills Media Tech Center. John Alle of John Alle Co. represented both Epoch Films and the building owner, Meyer-Pacific.
