DEALS
Capstone Turbine Corp. signed a 10-year, $8.5-million lease for nearly 100,000 square feet of space in Northpark Industrial Center at 21211 Nordhoff St. in Chatsworth. Both Capstone and Northpark Industrial Center were represented by Michael Tingus and John DeGrinis of Colliers Seeley.
* TV Guide Networks signed a 10-year, $8-million lease for 26,720 square feet of office space at 6922 Hollywood Blvd. in Hollywood. The tenant was represented by Jeff Pion, Doug Marlow and Neil Resnick of CB Richard Ellis. The landlord, CIM/Hollywood Inc., was represented by John Bertram and Luke Palmo of Westmac Commercial Brokerage.
* Lowe’s HIW Inc. acquired an 11.2-acre site at the southwest corner of Bouquet Canyon Road and Newhall Ranch Road in Valencia for more than $6 million from Newhall Land & Farming Co. as a site for a Lowe’s Home Improvement Warehouse store. Lowe’s was represented by David Goldman of Goldman Retail Associates. Newhall represented itself.
* Mobile Park Investment Inc. acquired a 96,347-square-foot office building at 4820 McGrath St. in Ventura for $5.6 million from WHUIB Real Estate. The buyer and seller were both represented by Bram White of Daum Commercial Real Estate Services, along with Carlo Brignardello and Rick Pearson of Cresa Partners.
* Magnolia Court, a Los Angeles-based investment group, purchased River Glen Apartments, a 128-unit complex near Tyler Mall in Riverside, for about $5 million from Los Angeles-based Southland. John Kalmikov and Bill Roblero of Grubb & Ellis represented the seller. Kalmikov represented the buyer.
* Chatsworth-based MRV Communications, a maker of switching and routing equipment for computer networks, signed a five-year, $4.6-million lease for 38,795 square feet of space at 8383 Fallbrook Ave. in West Hills that will be headquarters for MRV’s Zuma Networks. MRV was represented by Scott Caswell of Delphi Business Properties. The landlord, Corporate Pointe, was represented by Mark Leonard of Trammell Crow Co.
* DDS Distribution Services signed a five-year, $3.2-million lease for 116,327 square feet of industrial space at 8550 Chetle Ave. in Whittier. The tenant was represented by John Minervini and Erik Larson of Cushman & Wakefield and Kimm Brand of South Bay Co.
* Universal Framing Products, an importer of picture frame materials, purchased a 48,500-square-foot industrial building at 12432 Foothill Blvd. in Sylmar for about $2.7 million from the Kapadia Family Trust of Chatsworth. Richard Kyler and Nigel Stout of Grubb & Ellis represented the seller. Ross Thomas of Delphi Business Properties represented the buyer.
* Petersen Properties bought a 16,000-square-foot office building at 11650 Riverside Drive in North Hollywood for $2.1 million from law firm Rosato & Samuels to house Petersen’s Sports Afield magazine. Petersen was represented by Michael Fowler of Colliers Seeley. The seller was represented by Ken Simons of North American Realty.
* Imperial Pipe Services, a pipe fabrication and supply company, bought 23 acres of land on the east side of Brown Avenue in the Agua Mansa Industrial Center in Riverside for $1.6 million from Seattle-based Washington Mutual Bank. Jim Center and Ron Washle of Grubb & Ellis represented the buyer. Kevin McKenna of Seeley Co. represented the seller.
* Hyundai Market, a Korean grocery store, signed a nine-year, $1.1-million lease for 33,290 square feet of retail space for a store at 1080 S. Mt. Vernon Ave. in the Colton shopping center in Colton. Vicki R. Donkin and Herbert M. Andrews of Grubb & Ellis represented the tenant and the landlord, Property Development Associates/Vons Cos. of Arcadia.
* Unigraphics Solutions, a St. Louis-based producer of computer-aided design software, signed a three-year, $1-million lease for 19,289 square feet of office space at 5856 Corporate Ave. in Cypress. Lonnie Riddle, David Shammas, Chad Carlberg and Chris Sinfield of Grubb & Ellis represented the landlord, IRP Muller Associates of Laguna Hills. Jeff Williams and John Griffin of Voit Commercial Brokerage represented the tenant.
