Sagamore Sells Westlake Complex
Sagamore Realty Group sold the Westlake Plaza Centre 1 office complex at 2801 Townsgate Road in Westlake Village for $22 million to Dusengberg Investments Co. The buyer was represented by Brian Forester of Told Partners. Sagamore Realty Group represented itself.
J.B. Oxford & Co. renewed its 10-year lease on 22,502 square feet of office space at 9665 Wilshire Blvd. in Beverly Hills for $11.2 million. The tenant was represented by Jeff Cowan of Julien J. Studley Inc. The landlord, Arden Realty Inc., was represented in-house by Gayle Landes.
Continental Development of Culver City bought two shopping centers from Manhattan Beach-based MarketVentures: Eagle Rock Center at 4903-4945 Eagle Rock Blvd. in Eagle Rock for $8.3 million and Lynwood ValuPlus Marketplace at 10721 S. Atlantic Ave. in Lynwood for $7.5 million. Dixie Walker, Michael Randall, Kevin Shannon and Charley Simpson of Grubb & Ellis represented Market Ventures in both transactions. Scott Crane of NAI Capital Commercial represented Continental in both deals.
Pacific Toll Processing signed a 10-year, $7.5-million lease for 102,000 square feet of industrial space on 10.6 acres at 24724 Wilmington Ave. in Carson, according to Watson Land Co. Vice President Kirk Johnson, who with Lance Ryan represented the company in the transaction. Toll was represented by Mike Mitchell of CB Richard Ellis.
Hager Pacific Properties bought a 129,426-square-foot industrial property at 611 E. Cerritos Ave. in Anaheim for $6.3 million from Pacific Gulf Properties. Tom Dorman of CB Richard Ellis represented the seller. The buyer was represented by Gary Stache of CB Richard Ellis.
Royal Indemnity Co., a commercial insurance company based in Charlotte, N.C., renewed its lease and expanded its offices at 801 N. Brand Blvd. in Glendale in a five-year, $5.2-million lease. Bill Boyd of Grubb & Ellis represented the landlord, ASP Glendale LLC of New York. Wayne Saldana of Colliers Seeley International represented the tenant.
Roma Molding, a Canadian firm specializing in decorative wooden moldings, signed a 10-year, $3.3-million lease for 57,920 square feet of industrial space at 6230 N. Irwindale Ave. in Irwindale. Jim Center and Bob Moffatt of Grubb & Ellis represented the landlord, Los Angeles-based On Irwindale LLC. Sally Matthews of Caldwell Realty represented the tenant.
Stein Mart Inc. signed a 10-year, $3.3-million lease for a 35,000-square-foot retail store at La Verne West Center in La Verne, according to Wohl Investment Co., the center’s owner. Wohl was represented by Phil Berry of Commercial West Brokers. Stein Mart was represented by Chris Auer of Strategic Retail Advisors.
Flexi-Van Leasing signed a 10-year, $3.3-million ground lease for six acres at 2202 E. Sepulveda Blvd. in Carson. The landlord, Watson Land Co., was represented in-house by Kirk Johnson, Lance Ryan and Randy Smith. Flexi-Van represented itself.
REMC Enterprises, an executive suites firm based in Irvine, signed a 10-year, $3.1-million lease for 16,154 square feet of office space at 5150 E. Pacific Coast Highway in Long Beach. Dave Coe of Grubb & Ellis represented the tenant and the landlord, Park Tower Long Beach LLC of Irvine.
