Makar Affiliate Purchases Cerritos Corporate Tower
An affiliate of Makar Properties acquired the 187,000-square-foot Cerritos Corporate Tower at 18000 Studebaker Road in Cerritos from the Krausz family of San Francisco for $26.5 million. Rob Mitchell and Peter Castleton of Voit Commercial Brokerage represented the buyer and the seller.
Oracle Communities Corp., a Los Angeles-based investment group, purchased the 200-unit Citrus Gardens apartment complex at 8600 Citrus Ave. in Fontana from Huntington Beach-based Ishino Real Estate for $10.4 million. John Kalmikov and Bill Roblero of Grubb & Ellis represented the buyer and the seller.
The Los Angeles County Department of Public Social Services signed a 10-year, $22.5-million lease for 163,000 square feet of office space at 9320 Telstar Ave. in El Monte. Landlord Crown Realty recently purchased the 258,600-square-foot building from Avnet Corp. of Phoenix for $17.6 million. Clyde Staff and Tom Taylor of Colliers Seeley International, along with Ron Heim of Trammell Crow Co., represented the landlord. Los Angeles County represented itself.
New York-based Lend Lease Real Estate Investment acquired the 120,000-square-foot office building at 200 S. Los Robles in Pasadena from an investment group that includes affiliates of Insignia Financial Group and Citigroup. Financial terms weren’t disclosed, but real estate sources estimate the price at about $22 million. Insignia/ESG’s David Doupe and Larry Krasner brokered the sale.
Imagine Fulfillment Services signed a 10-year, $8.2-million lease for 117,217 square feet of industrial space and corporate headquarters at 20100 S. Vermont Ave. in Torrance. John Lasiter and Frank Hillebrand of Grubb & Ellis and Kathy Tillson of Coldwell Banker represented the tenant. Lasiter, Hillebrand and Jeff Smart of Grubb & Ellis represented the landlord, New York-based Guardian Life Insurance Co.
Marshall Vinyl Windows Inc., a Corona-based manufacturer and distributor of vinyl windows, bought a 127,802-square-foot industrial building at 235 Radio Road in Corona from Rexco of Orange for $7.2 million. Tim Hawke of Grubb & Ellis represented the buyer and the seller.
Potloc bought the 78-unit Jade Gardens apartments at 109 South Almansor St. in Alhambra for $6.8 million from Jade Gardens LLC. Seth Polen of Marcus & Millichap represented the buyer. The seller was represented by Greg Harris, also of Marcus & Millichap.
Dr. Kwo-Tai Richard Sun purchased a 45,548-square-foot medical center at 612 W. Duarte Road in Arcadia for about $6.6 million from the 612 Medical Building Partnership. Michael Dettling and Christopher Bonbright of Ramsey-Shilling Co. represented the seller. The buyer was represented by Judy Chow of Anca Realty Corp.
Medical insurance company Word & Brown signed a five-year, $6.5-million lease for 54,717 square feet of space in a renewal and expansion of its offices at 701 Parker St. in Orange. The tenant was represented by Mike Russell of Mohr Partners. The landlord, Arden Realty Inc., was represented in-house by Mike Latham.
