Passco Buys Chino Shopping Center
Passco Real Estate Enterprises Inc. of Santa Ana purchased Rolling Ridge Plaza, an 85,500-square-foot neighborhood shopping center at 2959 Chino Ave. in Chino, for $13.5 million from Kennsington. Gary Aminoff of Aminoff Co. represented Passco. Tom Robinson of NTC Commercial Real Estate represented the seller.
Insurance brokerage Arthur J. Gallagher will expand and relocate its regional headquarters from Warner Center in Woodland Hills to 505 N. Brand Blvd. in Glendale under a 15-year, $12-million lease the company signed for 46,000 square feet of office space. Clayton Hovivian of Cushman & Wakefield represented the tenant. Doug Marlow of CB Richard Ellis represented the landlord, SP Glendale.
Technip USA, an oil refinery design and engineering concern, signed a 10-year, $10-million lease for 79,800 square feet of office space at 555 W. Arrow Highway in Claremont, where it will relocate its corporate headquarters in May from San Dimas. Josef Farrar of Julien J. Studley Inc. represented the tenant. Natalie Bazarevitch of CB Richard Ellis represented the building owner, Keck Graduate Institute of Applied Life Sciences.
Ocean Park Apartments LLC purchased a 30-unit apartment building at 2427 4th St. in Santa Monica for $5 million from 2427 4th Street LLC. Phil Seymour of Elite Properties Realty represented the seller. Farah Lavi of Audrey Max represented the buyer.
The Capra Family Trust bought 28,540-square-foot Meridian Plaza shopping center at 10923-10985 Meridian Drive in Cypress for nearly $4.9 million from the Wu Family Trust. The seller was represented by Gregory Brown and Edward Hanley of Marcus & Millichap. The buyer was represented by Jack Holly of Marcus & Millichap.
Los Angeles Neighborhood Housing Services sold 70,000 square feet of land at 3100 S. Figueroa St. in Los Angeles to Shammas Group for $4.9 million. The property includes five lots, a small office building and a vacant apartment building. The buyer and seller were represented by Bradley Luster of Major Properties.
The Tomlinson Family Trust purchased the 43,922-square-foot Brea Executive Plaza office building at 259 S. Randolph St. in Brea from Grove Investments for $4.5 million. Joshua Levy and Martin Cohan of Grubb & Ellis represented the buyer. Michael Lawrence and Landon Wright of Marcus & Millichap represented the seller.
Beech Street Corp., a health-care preferred-provider organization, expanded its facilities at 25510 Commercecentre Drive in Lake Forest by 36,000 square feet in a five-year, $4-million lease. Stephen L. Bay and Kevin Bender of Insignia/ESG represented Beech Street. John Harty of Trammell Crow Co. represented the landlord, Riggs Bank.
Moulton Logistics Management signed a five-year, $3.8-million lease to relocate its North Hollywood headquarters to 7850 Ruffner Ave. in the Van Nuys Airport Business Park. The move combines four different facilities into one building totaling 108,000 square feet. Moulton was represented by Bennett Robinson of CB Richard Ellis. The landlord, AMB Property, was represented by Brad Koehler of Trammell Crow Co.
Calvary Chapel of Laguna Beach bought a 25,026-square-foot industrial building at 45 Tesla in Irvine from Tesla Associates LLC for $3.75 million. Dave Kluver of Grubb & Ellis represented the buyer. John Marchiorlatti and Chris Bates of CB Richard Ellis represented the seller.
