Deals
Park Center Associates of Irvine bought the 341,000-square-foot Moreno Valley Plaza at 23585-23965 Sunnymead Blvd. in Moreno Valley for $24.4 million from Lamar Cos. of Littleton, Colo. The buyer and seller were represented by Alan Krueger and Richard Longobardo of Marcus & Millichap.
Sun Family Trust acquired Abalone Square, a 4.86-acre parcel at the southeast corner of Carson and Abalone streets in Torrance, for $13.5 million. The purchase included entitlements to build a 58,000-square-foot retail building. Richard Rizika and Brent Cunningham of CB Richard Ellis Retail Services represented the seller, Regency Realty Group of Los Angeles. Sun Family Trust was represented by David Minck of California Retail Investments.
CCK Sports Foundation Inc. signed a 10-year, $10-million sublease for 51,500 square feet of office space at the former Home Savings headquarters in San Gabriel Valley Corporate Center at 4900 Rivergrade Road in Irwindale. CCK, a nonprofit foundation that works with youth sports organizations, was represented by Aaron Ely of Trammell Crow Co. The sublandlord, Washington Mutual, was represented by Jim Bannon of Tiarna Real Estate Services and Ron Heim of Trammell Crow.
* Pac San Management bought a 76-unit apartment complex at 8350-8356 Gardendale Ave. in Paramount for $6.1 million from McCam Properties. Dash Chopra of Sperry Van Ness represented the seller. The buyer was represented by William Raffin of Raffin Realty.
* Regency Realty, a real estate investment trust based in Ft. Lauderdale, Fla., purchased the 105,000-square-foot Garden Village Shopping Center at the northeast corner of Western Avenue and Westmont Drive in San Pedro for $5.1 million from Manulife USA of Los Angeles. Regency intends to demolish more than 50% of the shopping center to accommodate a major supermarket, and the balance of the shopping center will be renovated, said Richard Rizika, a member of a CB Richard Ellis team that represented the buyer and seller.
Concord Disc Manufacturing, a CD and DVD production, packaging and distribution company, signed a five-year, $4-million sublease to occupy Seagate Technology’s former 123,624 square-foot research and development facility at 3845 E. Coronado St. in Anaheim. Jeff Chiate and Rick Ellison of Cushman & Wakefield represented Seagate Technology and the building’s landlord, Ismos Investments. Concord was represented by Don Paul of Ashwill Associates.
* Nadler & Associates purchased a 24,562-square-foot medical building at 1250 La Venta Drive in Westlake Village for $3.6 million from the Community Medical Building partnership. John Hefferman of NAI Capital Commercial represented the seller. Nadler & Associates represented itself.
Minnesota Public Radio signed a 10-year, $3.5-million lease for 16,397 square feet of office space in Figueroa Courtyard, 261 Figueroa St. in downtown Los Angeles, where it is scheduled to move in February. Chris Runyen and David Lachoff of Grubb & Ellis represented the landlord, Los Angeles-based California National Bank. Carl Muhlstein of Cushman Realty Corp. represented the tenant.
* Horizon Media Inc. signed a seven-year, $3-million lease for 10,000 square feet of office space at 1940 Century Park East in Century City. The tenant was represented by Blake S. Mirkin and Steven M. Salas of CB Richard Ellis. The landlord, 1940 Century Associates, was represented by Neil Resnick, Jeff Pion and Dana Perel of CB Richard Ellis.
