Deals
* Essex Property Trust Inc., a Palo Alto-based real estate investment trust, acquired the 501-unit the Crest at Phillips Ranch apartments at 500 Appian Way in Pomona for $56.8 million and the 90-unit Woodland Apartments at 501 E. Katella Ave. in Orange for $10.1 million. The seller of the Crest, Phillips Ranch Apartments, was represented by Jesse Goldstein and Dennis Danielin of PCI Properties. The seller of Woodland Apartments, 501 E. Katella LLC, was represented by Melinda Russell of Hendricks & Partners. Essex represented itself in both transactions.
* Harbor Regional Center has renewed and expanded its offices at Del Amo Business Plaza in Torrance via a 15-year transaction covering 84,789 square feet and valued at $30 million. Harbor Regional Center will occupy most of the two buildings at 21231 and 21307 Hawthorne Blvd. within the three-building complex. Kevin Shannon and Chris Sinfield of Grubb & Ellis represented the landlord, an affiliate of TA Associates Realty, while George Eshaghian of Cushman Realty represented the tenant.
* SBC Services, a San Antonio-based telecommunications firm, signed a 10-year, $27-million lease for a 150,000-square-foot industrial telecom building at 2681 Kelvin Ave. in Irvine. Bryon Ward and Scott Read of Grubb & Ellis represented the landlord, ISCO-Irvine North of Los Angeles. SBC Services represented itself.
* Skechers USA purchased the 66,835-square-foot Manhattan Beach Office Plaza at 225 S. Sepulveda Blvd. in Manhattan Beach for about $14.5 million. Kevin Shannon and Larry Daniels of Grubb & Ellis represented both Skechers and seller Pacifica Capital Group.
* An affiliate of FowlerFlanagan Properties acquired the 123,000-square-foot office building at 401 E. Ocean Blvd. in downtown Long Beach for about $12 million. Kevin Shannon and David Coe of Grubb & Ellis represented both FowlerFlanagan and Taiwanese seller Intex Realty Corp.
* AMB Property Corp., a San Francisco-based real estate investment trust, acquired the recently completed, 127,845-square-foot LAX Cargo Center at 12530 S. Prairie Ave. from J.P. Morgan for $11.5 million and signed freight company Forward Air to a five-year, $4-million lease for 86,879 square feet; MSAS Sky King subleased 40,966 square feet of the space from Forward Air for three years at $2 million. The tenants and the landlord were represented by Michael Ross, David Drummond, Garrison Parcells and Sean O’Donnell of Colliers Seeley International.
* SS Rainbow II LP purchased the new, 55,000-square-foot Art Institute of Los Angeles & Orange County headquarters facility at 3601 W. Sunflower Ave. in Santa Ana for about $10.8 million. Kevin Shannon, David Kinney and John Martin of Grubb & Ellis represented both the buyer and seller CarrAmerica Realty Corp.
* Platinum Associates of Beverly Hills purchased a 75,000-square-foot office building at 5900 Sepulveda Blvd. in Van Nuys for $8.2 million from Kennedy-Wilson International. Phil Seymour of Elite Properties Realty represented the buyer. Marc Heenan and Mary Ricks of Kennedy-Wilson represented the seller.
* The engineering firm of Syska & Hennessy signed a 10-year, $7.1-million lease for 24,100 square feet of office space at 11500 Olympic Blvd. in West Los Angeles. Christina Bellinghausen and Robert Chavez of Staubach Commercial represented Syska. Chris Strickfaden and Jim Bowers of PM Realty Group represented the landlord, Olympic Plaza Investment Group.
* Gardena Holdings, a San Diego investment group, bought a 62,714-square-foot office building at 1149 W. 109th St. in Gardena for $6.4 million from individual investor Harry Brown. Greg Ozimec of Voit Commercial Brokerage represented the seller. The buyer was represented by Mike Collins of Collins Commercial.
* Hutton Business Plaza Riverside acquired an office and industrial park at 1405, 1425, 1445, 1465 and 1485 Spruce St. in Riverside for $6.1 million from the Betty L. Hutton Title Holding Co. Jon Passafiume of Lee & Associates represented the buyer and the seller.
* Trammell Crow Residential Southern California acquired a 5.1-acre site at 19208 Nordhoff St. in Northridge for $5.1 million from the Iva Blalock Ltd. Partnership and plans to begin construction immediately on 140 luxury apartments. Mark Randall Tiger of Remax Town Center represented the buyer. The seller was represented by Hannan Binder of Century 21 All Properties.
* Asset Management Consultants Inc. of Mission Hills acquired a 75,000-square-foot office building at 6725 Sunset Blvd. in Hollywood for $4.6 million from Bar-K Inc. and intends to renovate the building into a “high-tech, state-of-the-art” structure, said Albert Shilton and Tanel Harunzade of Charles Dunn Co., who represented the buyer. Bar-K Inc. represented itself.
* Air-conditioning firm Econo-Air bought a 45,325-square-foot building at 3362 E. La Palma Ave. in Anaheim for $3.6 million from Anaheim-based developer American National Properties. Rob Socci and Brian Corrigan of Voit Commercial Brokerage represented the seller. The buyer was represented by Jim Tack of Tack & Associates.
* Lambda Research Optics bought a 35,340-square-foot industrial building at 1695 MacArthur Blvd. in Costa Mesa for $3.4 million from CI Designs and will move its headquarters there. Lambda was represented by Paul Caputo of Voit Commercial Brokerage. The seller was represented by Bill Garrett of Lee & Associates.
* T/Friendly, a movie production company, signed a 10-year, $3.3-million lease for 6,600 square feet of office space at the Clarity Building, 100 N. Crescent Drive, Beverly Hills. Paul Feiwell of Coldwell Banker Commercial represented the tenant. The landlord, Clarity Realty Partners, was represented by Bruce Rothman of Koar Institutional Advisors.
