DEALS
* Ortel Corp., a manufacturer of laser and fiber-optic devices used in the cable television industry, signed a 10 1/2-year, $35-million lease for 186,000 square feet of space at San Gabriel Valley Corporate Center at 4900 Rivergrade Road in Irwindale. Ortel was represented by John Ghiselli and Scott Katcher of Julien J. Studley Inc. San Gabriel Valley Corporate Center was represented by Jonathan Larsen and James Bannan of Trammell Crow Co. Larsen said Ortel, which is expanding from a facility in Alhambra, will relocate about 500 employees to its new space.
* Kearny Real Estate Co. sold 6330 San Vicente Blvd., a five-story, 100,000-square-foot office building in Los Angeles, to Beverly Hills-based Lexington Commercial Holdings for $15 million. Kearny acquired the property in December 1997. The buyer was represented by Joel Frank of First Properties. Kearny represented itself.
* Citizen Watch Co. of America, the New Jersey-based watchmaker, signed a 15-year, $14.7-million lease for a 129,556-square-foot industrial building at 1000 W. 190th St. in Los Angeles. Citizen is relocating from elsewhere in Los Angeles. Jeff Smart of Grubb & Ellis represented the tenant. Jeff Morgan and Bill Peters of CB Richard Ellis represented the landlord, Pac Trust Realty Inc. of Portland, Ore.
* Furst Enterprises acquired the 121,750-square-foot Five Points Plaza shopping center at 11910-11990 Garvey Ave. in El Monte for $8 million from Monte Mac No. 1. The seller was represented by Scott Hook of Marcus & Millichap. The buyer was represented by Hook and Michael Woolbright, also of Marcus & Millichap.
* FSC Realty acquired the 82-unit Fuller Martel Plaza Apartments at 1443 N. Fuller Ave. in Hollywood for $6.6 million from Fuller Hollywood Ltd. Karoline H. Sauls of Sperry Van Ness represented both parties.
* STK International Inc. signed a five-year, $5.3-million lease for 235,000 square feet of distribution space at 5500 E. Olympic Blvd. in Commerce, where the company is consolidating operations from Vernon. CB Richard Ellis brokers John Privett, Jeff Stephens and David Fults represented the landlord, the East Los Angeles Community Union. STK was represented by Greg Stanton of CB Richard Ellis.
* Metro Information Systems of Los Angeles signed a 10-year, $4.5-million lease for 16,070 square feet of office space at the Plaza at 2141 Rosecrans Ave. in El Segundo. The tenant was represented by Vincent E. Pellerito of Cushman Realty Corp. The landlord, Continental Development Corp., represented itself.
* USC’s new Institute for Creative Technologies, which develops technologies for the military and the entertainment industry, signed a five-year, $3.7-million lease for 23,311 square feet of space at Lincoln Boulevard and Fiji Way in Marina del Rey. Micheal S. Geller and Jeffrey E. Resnick of First Property Realty Corp. represented the owner, Marina View Building. USC was represented by Howard Feuerstein of Travers Realty.
* Graybar Electric Co., a St. Louis-based distributor of electrical and communications products, signed a five-year, $2.9-million lease for a 140,380-square-foot industrial building at 383 Cheryl Lane in Industry. Rick Sheckter of Grubb & Ellis and Bob Kaczor of TRF Real Estate represented the tenant. Tom Taylor of Seeley Co. represented the landlord, San Francisco-based Catellus Development Corp.
* JIJ Design Inc., a designer and importer of home furnishings, acquired a 40,000-square-foot industrial property on 1.5 acres at 1288 Bradley Ave. in Sylmar for $2.2 million from Michael Siegel. JIJ is moving its headquarters to the facility from Sun Valley, according to Ross Thomas of Delphi Business Properties, who represented the buyer. The seller was represented by Doug Sonderegger and Craig Peters of CB Richard Ellis.
* Global Link and Happy Express, two related freight companies, signed a 10-year, $2-million lease for 21,000 square feet of space at 720 S. Hindry Ave. in Inglewood. Harvey Beesen and Luke Staubitz of Klabin Co. represented the tenant and the landlord, Robert Burg.
* Los Angeles County signed a 10-year, $2-million lease for 13,500 square feet of office space at 14540 Haynes St. in Van Nuys. Cathy Scullin and Chad Gahr of NAI Capital Commercial represented both the tenant and the landlord, Stockdale Holdings.
* Arcadia Assets acquired an 18-unit apartment building at 1345 N. Fuller Ave. in Los Angeles for $1.8 million from 1345 Fuller Ltd. of Los Angeles. Melinda Russell of Hendricks & Partners represented the buyer and seller.
* American Products Co., a distributor of automotive aftermarket products, signed a five-year, $1.8-million lease for 72,092 square feet of industrial space at 252 Granite St. in Corona. The tenant was represented by Kevin Chapin of NAI Capital Commercial. The landlord, CT Realty, was represented by Larry Null of Lee & Associates.
* Eye Candy Post signed a 4 1/2-year, $1.7-million sublease for 20,743 square feet of office space at 10 Universal City Plaza. The tenant was represented by Ari Waldstein of NAI Capital Commercial. The tenant subleased the space from Equiva Services, which was represented by W. Lawson Martin III of Travers Realty.
* Ramesh and Hansa Bhagat bought 106-unit Sunset Inn at 15824 Western Ave. in Gardena for $1.7 million from Western Gardena Hotel Co. Park Weaver of Marcus & Millichap represented the buyer and the seller.
* Mahnaz Daneshforoz purchased a 19,039-square-foot research and development building at 7 Chrysler in the Irvine Spectrum for $1.6 million from Chrysler/Fleming Partners. The buyer was represented by Gregory Ozimec of Voit Commercial Brokerage. The seller was represented by Jeff Cannon of Cushman & Wakefield.
* Alice Chang acquired an eight-unit apartment building at 908 S. Golden West Ave. in Arcadia for $1.1 million from Inter-Astrea Inc. The buyer was represented by Kevin Lutz of Sperry Van Ness. The seller was represented by John Barker of Century 21.
* American Diversified Investments Inc. bought Sandy Beach Apartments at 1078 E. Ocean Ave. in Long Beach for $1 million from 1078 E. Ocean Inc. Don Whitehurst of Marcus & Millichap, who represented both parties in the sale, said the buyer plans to redevelop the property as luxury oceanfront condominiums.
* Saturn Freight Systems bought a 10,000-square-foot industrial property at 704 S. Isis Ave. in Inglewood for more than $1 million from Coppersmith Inc. Luke Staubitz of Klabin Co. represented the seller. The buyer was represented by Courtney Bell, also of Klabin.
* Freeman Products, a manufacturer of trophies, signed a five-year, $1-million lease for 40,000 square feet of industrial space at 10637 Hathaway Drive in Heritage Business Park in Santa Fe Springs. The landlord, Shidler Group, was represented by Rick McGeagh and Scott Smith of CB Richard Ellis. Freeman Products was represented by Vince Manchee of Cushman & Wakefield.
