DEALS
* Unisource Worldwide Inc. has purchased a 420,000-square-foot industrial building in La Palma for $17.25 million. Georgia-based Unisource will consolidate three existing Los Angeles facilities into one that will be used for warehousing and distributing paper products. The property was sold by G.I.P.-CA. Steve Sprenger and Rick Hill of Grubb & Ellis and David O’Neill of Colliers represented the seller. Laird Perkins and Jeff Morgan of CB Richard Ellis represented the buyer.
* David Lee acquired a 242,000-square-foot office building at 3333 Wilshire Blvd. for $16 million, his 24th building purchase in the Wilshire District, according to brokers from Julien J. Studley Inc. who represented Lee and the seller of the building, CORE Investment Group. The Studley team included Phillip Sample, Chris Caras and Maury Gentile. Sample said the building at 3333 Wilshire is about 75% occupied. Tenants include the County of Los Angeles Department of Human Resources, the American Cancer Society and Startpath.com.
* Administaff Services has signed a 10-year lease valued at $12.2 million for 50,000 square feet of space at Trenton Corporate Center in Diamond Bar. The company will locate 200 employees in a service center in the office project near the intersection of the 57 and 60 freeways. Taylor Ing of CB Richard Ellis and Greg Brown of Cushman & Wakefield represented the landlord, Trenton Group. George Jones of CB Richard Ellis represented Administaff.
* Watkins & Shepard Trucking Inc. of Missoula, Mont., purchased four industrial buildings totaling 238,100 square feet in Santa Fe Springs for $11.6 million, according to Jim McFadden of Grubb & Ellis, who represented the buyer and the seller, MCBC of Newport Beach. The purchase included 206,030 square feet at 13827 S. Carmenita Ave. and additional space at 14101, 14103 and 14106 S. Pontlavoy Ave. Watkins & Shepard will use part of the space to house its Southern California terminal and keep the balance as leased investments. The company, which is relocating from La Mirada, is slated to occupy 148,645 square feet of the building on Carmenita and 9,600 square feet at 14101 S. Pontlavoy in August.
* Ocean View Tower, a Long Beach-based private investor, purchased a 107,920-square-foot office building adjacent to the proposed Queensway Bay retail and entertainment development in Long Beach for $9.4 million from AEW Capital Management of Boston, according to Terry Reitz and Jim Biondi of Grubb & Ellis, who represented the seller. The building, at 200 Ocean Blvd., is part of Pike Properties, a 13-acre site across the street from Long Beach City Hall in downtown Long Beach and next to the site of the 500,000-square-foot retail and entertainment complex planned by DDR Oliver McMillan. The offices are 100% leased to GTE. Bob Daniels of Paul Calvo Co. represented the buyer.
* M.S. Industrial Sheet Metal Inc. has purchased a 32,000-square-foot industrial building in Corona for $2 million. The building on Pomona Road was sold by the Dowdy Family Trust. The trust was represented by Trammell Crow Cos. The buyer was represented by Chris Migliori of Daum Commercial Real Estate Services.
