DEALS
Internet communications company CNM Network Inc. signed a seven-year, $14-million sublease for 136,000 square feet of office space formerly occupied by Nortel Networks Inc. at 4100 Guardian Way in Simi Valley and has relocated its headquarters to the space. Dennis Slattery and Robert Stover of Charles Dunn Co. represented CNM. Sub-landlord Nortel was represented by Chris Joyner of Fischer & Co.
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Scantron, a data collection firm, signed a 10-year, $13.8-million lease on 110,000 square feet at 34 Parker in Irvine. Sam Olmstead and Tim Walker of Voit Commercial Brokerage represented the owner of the building, Northwestern Mutual Life Insurance Co. The tenant was represented by Rick Ellison and Jeff Chiate of Cushman & Wakefield.
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Jiangs Valley of Temple City purchased the 89,535-square-foot Union Bank Building at 601 Potrero Grande from Arka Properties and Pacifica Capital of Beverly Hills for $10.6 million. Kevin Shannon and Amy McNamara of Grubb & Ellis represented the seller. The buyer was represented by Jennifer Chiang of Coldwell Banker.
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Los Angeles County expanded its facilities at its Alhambra office campus by 24,441 square feet in a $10.5-million, 15-year lease that will increase its space to 206,000 square feet. Tom Sheets and Eric Hinkelman of Trammell Crow Co. represented the owners of the Alhambra campus. The county was represented internally by Charles P. Best.
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Triple Net Properties of Santa Ana bought two properties from El Segundo-based Kilroy Realty for $10.5 million. The purchases included a 77,582-square-foot building at 41093 County Center Drive in Temecula for $5.4 million and a 102,948-square-foot building at 1840 Aerojet Way in north Las Vegas for $5.1 million. In both sales, Alan Pekarcik, Rob Mitchell and Mike Bouma of Voit Commercial Brokerage represented the buyer. Kilroy represented itself.
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Triple A Containers Inc., a manufacturer of corrugated cartons, signed a 10-year, $6.3-million lease for 109,000 square feet of industrial space at 16069 Shoemaker Ave. in Cerritos to house the firm’s corporate headquarters and manufacturing and distribution operations. Steve Sprenger of Grubb & Ellis and Randy Coe of Colliers Seeley International represented the tenant. Ted Carpenter and Mike Carpenter of Carpenter & Associates represented the landlord, Bechler Corp. of Long Beach.
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Oaktree Capital Management expanded its lease by 25,000 square feet to occupy a total of 100,000 square feet at Wells Fargo Center in downtown Los Angeles. Oaktree, which now occupies floors 27 through 30, was represented in the $5-million, 71/2-year expansion by Stephen L. Bay and Clay Hammerstein of Insignia/ESG. Josh Wrobel and Tony Morales represented landlord MaguirePartners.
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Green Bay, Wis.-based Schneider Resources Inc., a logistics provider, signed a 10-year, $5-million leased for about five acres at 1950 E. Washington Blvd. in Los Angeles for a vehicle maintenance and parking facility.
Steve Sprenger and Bart Pucci of Grubb & Ellis and Mark Gibbs and Jim Kemmerer of Burr & Temkin represented the tenant. Mike Meraz of Magnum Properties represented the landlord, Central L.A. Transfer Inc.
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Dove Canyon Plaza LLC bought the 105,000-square-foot Hunter Business Park at 1110-1120 Palmyrita Ave. in Riverside for $4.9 million from Arden Realty. Frank Kosi of Sperry Van Ness represented both the buyer and the seller.
