Investment Venture Buys Arrow Park
Arrow Business Park Associates, an investment venture of Laguna Niguel-based Birtcher Realty and an affiliate of New York-based Praedium Group, purchased Arrow Business Park, a nine-building industrial campus on 21.9 acres at 9th Street and Arrow Route in Rancho Cucamonga, for $17.3 million from Aetna Life Insurance Co. of Hartford, Conn. Scott Ost-lund, William Heim and Michael Chavez of Lee & Associates represented the buyer and the seller.
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Westwood Financial bought 82,000-square-foot Gateway Center on Alicia Parkway in Mission Viejo from Farallon Gateway Ltd. for $15 million. Dennis Vaccaro of Faris Lee Investments represented the buyer. The seller was represented by Jim Fisher of Barry Powell & Associates.
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Kaiser Permanente acquired a 220,000-square-foot manufacturing building at 3400 E. LaPalma Ave. in Anaheim from compact disc manufacturer Cinram for $14.5million. The new owner will raze the building to construct a health-care facility, said Rob Socci of Voit Commercial Brokerage, who represented the seller. The buyer was represented by Mike Finley, Mike Merk and Bob O’Neill of Grubb & Ellis.
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Sport Chalet signed a 10-year, $12-million lease for a 325,000-square-foot warehouse and distribution building at Haven Gateway Center at 2250 S. Sequoia Ave. in Ontario. Kent Stalwick of Insignia/ESG represented the tenant. Haven Gateway Center was represented by Rob Fuelling of Investment Development Services and by Chuck Belden of Cushman & Wakefield.
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Continental Graphics will combine its Culver City and Santa Ana offices in 63,235 square feet at 6141 Katella Ave. in the 200 Warland Cypress Business Center in Cypress in a 10-year, $11.4-million lease. Brian DeRevere and Laird Perkins of CB Richard Ellis represented the landlord, Warland Investments Co. of Santa Monica. Josef Farrar of Julien J. Studley represented the tenant.
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Silagi Development & Management of Thousand Oaks acquired a 180,000-square-foot office park at 1130 Research Drive in Redlands from Guardian of New York for about $8.5 million. Tom Pierik, Dave Mudge and Larry Taylor of Lee & Associates represented the buyer and the seller.
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The Goodwin and Danzig family trusts bought the 45,872-square-foot Linens ‘n Things portion of Santa Margarita Marketplace at 30501-30505 Avenida de Las Flores in Mission Viejo from K&G; Marketplace LLC for nearly $8.3million. Dennis Vaccaro and David Lee of Faris Lee Investments represented the seller. Bryan Holker of BD Holdings represented the buyer.
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Hyundai Motors of America purchased 7.4 acres on the northeast corner of Bake Parkway and Irvine Center Drive in the Irvine Spectrum from Irvine Co. for about $8 million for the new site of its Hyundai/Kia Design Center. Donald Yahn of Cushman & Wakefield represented Hyundai Motors, and Irvine Co. represented itself.
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Iron I acquired the 37,371-square-foot Staples portion of Santa Margarita Marketplace at 30511-30515 Avenida de Las Flores in Mission Viejo for $7.2 million from K&G; Marketplace LLC. Dennis Vaccaro and David Lee of Faris Lee Investments represented the seller. The buyer was represented by Roger Clark of Clark Cos.
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Wardlow Center Partners bought the 75,150-square-foot El Dorado Shopping Center at 8111 E. Wardlow Road in Long Beach from Milco Investments for $6.8million. Reza Etedali of Sperry Van Ness represented the buyer and the seller.
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CT Realty Corp. of Newport Beach acquired the 53,000-square-foot former Callaway Golf Co. headquarters at 5931 Priestly Drive in Carlsbad from Callaway for $4.9 million. CT Realty plans to convert the property to a multi-tenant building, said Dave Ball, a company vice president. Lannie Allee and Doug Simpson of Coldwell Banker Commercial represented CT Realty and Callaway.
