Glenborough Realty Buys LNR Plaza
Glenborough Realty Trust of San Mateo bought LNR Newport Plaza, a 106,902-square-foot office building at 895 Dove St. in Newport Beach, from Lennar Partners for $26.5 million. The seller was represented by Gregg Herbert, Jeff Hanson, Mike Dorsey and Dave Kinney of Grubb & Ellis, along with Bill Smith of Lennar Partners. Steve Mooradian and Joe McKay of Lee & Associates represented the buyer.
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The Bascom Group of Irvine bought the 165-unit Pinetree Townhomes apartment complex at 9200 Monte Vista Ave. in Montclair for nearly $14.7 million from Jonathan’s Landing. The Bascom Group was represented in-house by Scott McClave. The seller was represented by Neil Schimmel of Investors Management Group.
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L.A. Records Management Inc., a document storage and retrieval company, signed a 10-year, $8-million lease for a new, 108,288-square-foot industrial building at 15624 Roxford St. in Gateway Industrial Park in Sylmar. Chuck Carmichael of NAI Capital Commercial represented the tenant. The landlord, World Oil Corp., was represented by Barbara Emmons of CB Richard Ellis and Chris Sullivan of Daum Commercial Real Estate.
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Burke Real Estate Group acquired five industrial buildings totaling 70,088 square feet at 26361, 26362, 26381, 26382 and 26401 Via de Anza in the Capistrano Business Park in San Juan Capistrano from Carnegie Construction Co. for $6.2 million. John Sullivan of Lee & Associates represented the seller. The buyer was represented by Mike Baker and Guy La Ferrara, also of Lee.
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EDCO USA, a New York-based telecommunications firm, signed a 15-year, $4.8-million lease for 10,000 square feet of office space to house a telecommunications data center at 611 W. 6th St. in downtown Los Angeles. William H. Atha II, Timothy C. Macker Jr. and Joseph T. Faulkner of Grubb & Ellis represented the landlord, 611 West Sixth Street Associates. Warren Sorgen of Helmsley-Spear Inc. represented the tenant.
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Mark Dessey of Rolling Hills bought the 27,000-square-foot Clare Micronix office building at 145 Columbia in Aliso Viejo for $4.6 million from RJN Properties of Newport Beach. Mike Austin of Sperry Van Ness represented the seller. The buyer was represented by Bob Jackson of ICP.
