Pension Fund Advisor Buys Complex in Industry
Chicago-based RREEF, a real estate advisor to pension funds, acquired the Towers Industrial Park in Industry from an institutional investment fund managed by AEW Capital Management. Rick Putnam, Jeff Cole and Phil Lombardo of Trammell Crow Co. represented the buyer and the seller. Terms of the deal were not disclosed, but real estate industry sources estimated it at about $32 million.
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Voit Development Co. acquired Birtcher Business Park, a 20-building, 246,825-square-foot office and industrial park in Laguna Niguel, for $30 million from Birtcher Niguel. Rob Socci, Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage represented the buyer and the seller.
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InfoNet acquired the four-story, 126,000-square-foot Grand Avenue Corporate Center at 2151 Grand Ave. in El Segundo from Opus West for $25 million. David Drummond, Eric Lastition and Craig Meyer of Colliers Seeley International represented Opus West. InfoNet was represented by Steve Cramer, also of Colliers Seeley.
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The Barros Family Trust bought the 98,004-square-foot Hawthorne Plaza retail center at 12620-12770 Hawthorne Blvd. in Hawthorne from Hawthorne Plaza LLC for nearly $22.7 million. The buyer was represented by Carlos Diaz and Joseph Miller of CB Richard Ellis. The seller was represented by Dean Curci of CapRate Properties.
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Newmark Merrill and Rubin Pachulski purchased the Janss Marketplace at Moorpark Road and Hillcrest Drive in Thousand Oaks for more than $20 million from Merged Centers LP of Los Angeles. Dixie Walker and Michael Randall of Grubb & Ellis represented the buyer and the seller.
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Bascom Group of Irvine bought the 300-unit Verde Mont Villas Apartments at 6155 Palm Ave. in San Bernardino for $17.7 million from Roy and Elda Hearrean. Bascom was represented in-house by Scott McClave and by Frank D’Avanzo of Sunwest Investments, who also represented the buyer.
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Meridian Healthcare Management signed a 71/2-year, $17-million lease for office space at 6200 Canoga Ave. in Woodland Hills. Meridian was represented by Brian Forster of Told Partners. The landlord, TrizecHahn, was represented in-house by Scott Chalmers and Brett Rocheleau.
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Security Properties Inc. bought the 112-unit Hollywood Place Apartments at 7400 Hollywood Blvd. in Hollywood from the Kor Group for $14.75 million. Albert Shilton of Charles Dunn Co. represented the buyer and the seller.
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Hager Pacific Properties acquired the 280,000-square-foot Commonwealth Industrial Park at 2401-2425 W. Commonwealth Ave. and 2410-2440 Artesia Ave. in Fullerton from Sherbourne Properties for about $8.5 million. Robert Tuller and Tom Baginski of BT Raike Commercial Real Estate represented both parties.
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Fowler Flanigan Partners purchased the 148-unit Hasterwood Apartments at 111 W. Orangewood Ave. in Anaheim from Manu Enterprises for $12.9 million. The seller was represented by Paul Marengo of Century 21 Beachside. The buyer was represented by Dash Chopra of Sperry Van Ness.
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Duesenberg Investment Co. bought a 41,397-square-foot office building at 200 N. Westlake Blvd. in Westlake Village from Pacifica Real Estate for $9.5 million. Brian Forster of Told Partners represented both the buyer and the seller.
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Liberty Glove Inc. signed a 10-year, $8-million lease for warehouse space at 433-439 Cheryl Lane in the Catellus Commerce Center in Industry. The tenant was represented by David Lin of Kotai Realty. The landlord, Catellus Development Corp., was represented by Tom Taylor and Steve Bellitti of Colliers Seeley International.
