Guardian Life Buys Mira Loma Building
Guardian Life Insurance Co. of New York acquired a 417,000-square-foot industrial building at 11455 Cantu-Galleano Ranch Road in Mira Loma from Invesco Realty Advisors of Dallas. Terms of the deal were not disclosed, but industry sources estimated the purchase price was approximately $16 million. Tom Pierik and Bill Heim of Lee & Associates represented Guardian. Jerry Nourse of CB Richard Ellis in Newport Beach represented Invesco.
Dorel Industries, a manufacturer of infant and juvenile products, signed a seven-year, $15.8-million lease for 623,630 square feet of industrial space at Shea Center in Ontario. The landlord, Shea Properties, was represented by Frank Geraci, Walt Chenoweth, Marc Burns and Dan de la Paz of CB Richard Ellis. The tenant was represented by Mark Latimer of Insignia/ESG.
Al Dickens bought a 52,000-square-foot medical office building at 301 S. Fair Oaks Ave. in Pasadena for $10.2 million from 301 South Fair Oaks LLC. Mary Ricks and Clifford Smith of Kennedy-Wilson International represented the seller. The buyer was represented by Tony Capalto of Whitehouse Properties.
Richard Wray and John R. Saunders purchased a 58,000-square-foot medical arts building at 11411 Brookshire Ave. in Downey for $7.7 million from Brookshire Medical Building Co. John Erthein of Marcus & Millichap represented the buyers. The seller was represented by Mike Lawrence of Marcus & Millichap.
Linksys, a manufacturer of computer networking equipment, signed a five-year, $4.2-million lease for 120,200 square feet of office space at 18582 Teller Ave. in Irvine. Phil Cohen of CB Richard Ellis represented the tenant. Dave Desper and Chip Wright of CB Richard Ellis represented the landlord, Cigna Insurance Co.
Brasstech Inc. of Newport Beach, a designer and manufacturer of plumbing fittings, signed a five-year, $3.6-million lease for 106,500 square feet of industrial space at 2001 Carnegie Ave. in Santa Ana. Chris Coyte and Jim Snyder of Lee & Associates represented the tenant and the landlord, Jaydee Enterprises.
Mikrotek, a manufacturer of computer scanners, bought a 50,000-square-foot industrial building at 16951 Keegan Ave. in Carson for $3.4 million from Educational Insight. Bud Meyers and David Prior of Klabin Co. represented the seller. Rudy Lara of Daum Commercial Real Estate Services represented the buyer.
CB Richard Ellis Inc. will move its Tri-Cities headquarters from 330 N. Brand Blvd. in Glendale to 10,000 square feet of office space at 505 N. Brand Blvd. in June. The 10-year, $2.7-million lease was negotiated by two brokers in the Glendale office, Doug Marlow and Nicole Wilson, who also represented the landlord, SP Glendale LLC.
