Chatsworth Business Park Sold to Investors
CT Realty Corp. of Newport Beach sold the eight-acre, 230,000-square-foot Chatsworth Business Park to Chatswood Investors and Chatswood Associates of Los Angeles for $32 million, said Robert M. Campbell, president of CT Realty. The business park is at 21415 and 21615 Plummer St. in Chatsworth. CT Realty was represented by Carl Muhlstein, G. Ryan Smith, Ted Simpson and Fred Cordova of Cushman Realty Corp. The buyers were represented by David Margulies of Urban Residential Partners.
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Lennar Partners and Werdin Corp. sold the 94,000-square-foot Redhill Technology Center at 2850 Redhill Ave. in Santa Ana to P.J. Livingston & Co. of Fremont for $17 million. The sellers were represented by Robert Smith, Michael Kane, David Desper and Bob Davis of CB Richard Ellis. The buyer was represented by John Kuhl of John Kuhl & Associates.
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San Francisco-based 24 Hour Fitness signed a 20-year, $7.5-million lease for 42,000 square feet of retail space in Masi Plaza at the southwest corner of Rochester Avenue and Foothill Boulevard in Rancho Cucamonga. Marc Piron of Grubb & Ellis represented the tenant. The landlord, Masi Commerce Center Partners of Rancho Cucamonga, represented itself.
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Steadfast Lakeview Terrace acquired the 128-unit Lakeview Terrace Apartments at 12326 Foothill Blvd. in Pacoima for $7.3 million from an affiliate of Spieker Cos. of Palo Alto. Dean Zander of Hendricks & Partners represented the seller. The buyer was represented by Mark McDonald, also of Hendricks & Partners.
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Contact lens maker Bausch & Lomb Inc. will consolidate its Irvine and Claremont surgical division operations into a 58,181-square-foot office in the Via Verde Corporate Plaza in San Dimas. Wohl Property Group of San Juan Capistrano completed the three-building, 155,904-square-foot business park at 140-180 E. Via Verde last year in partnership with Prudential Real Estate Investors. Principals declined to disclose the transaction’s financial terms, but San Gabriel Valley real estate sources estimated the five-year lease is valued at about $7 million. Cushman & Wakefield’s John Minervini, Robin Dodson and Erik Larson represented the developers as well as the tenant.
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Catholic Healthcare signed a five-year, $5.5-million lease for 35,000 square feet of office space at 330 N. Brand Blvd. in Glendale. The landlord, TIAA-CREF, was represented by Shaun Stiles, Hayden Eaves and Kinden Mitchell of Colliers Seeley International. The tenant was represented by Peter London and Jeff Manly of Staubach Co.
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Strock Hermosa of Palo Alto purchased the 24,635-square-foot Hermosa Center office project at 2447 Pacific Coast Highway in Hermosa Beach for $5.4 million from Hermosa Center LLC of Torrance. Kevin Shannon of Grubb & Ellis represented the buyer and the seller.
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Boise Cascade Corp. signed a five-year, $3.9-million lease for a 145,000-square-foot industrial building at 8900 Rex Road in the Majestic/AMB Pico Rivera Business Center. Rob Socci and Louis Tomaselli of Voit Commercial Brokerage represented the landlords, Majestic Realty and AMB Property Corp. Paul Earnhart of Lee & Associates represented Boise Cascade.
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Marina Medical Billing signed a seven-year, $3.2-million lease for 26,082 square feet of office space at 18000 Studebaker Road in Cerritos. The tenant was represented by Dave Coe, David Giglio, Greg Farier and Lori Smith of Grubb & Ellis. The landlord, Krausz Enterprises of San Francisco, represented itself.
