Safeco Insurance Signs 15-Year Lease at Shea Properties Project
Seattle-based Safeco Insurance signed a 15-year lease for 120,000 square feet of office space at the first phase of Shea Properties’ new Vantis project, a $350-million development on a 40-acre site at Laguna Hills Drive and Enterprise in Aliso Viejo Town Center. Financial terms of the lease were not disclosed, but it would be more than $50 million at anticipated asking rates for the Vantis space. Tim Joyce, Kathe Morgan and Oliver Fleener of Colliers Seeley International represented Shea Properties. Safeco was represented by Dennis Richardson and Rick Kaplan of Cushman & Wakefield.
FTB Civic, a West Los Angeles-based private investment group, purchased One Civic Plaza, a 127,894-square-foot office building at One Civic Plaza Drive in Carson, from Boston-based TA Associates Realty for $13.9 million. Kevin Shannon and Chris Sinfield of Grubb & Ellis represented the buyer and the seller.
Asset Management Consultants Inc. of Mission Hills sold a 12-story, 113,000-square-foot office building at 2700 N. Main St. in Santa Ana, known for the time-and-temperature sign on top, to House of Sportsman for $11.5 million. Al Pekarcik and Rob Mitchell of Voit Commercial Brokerage represented the buyer and the seller.
Passco Real Estate Enterprises Inc. sold the 95,000-square-foot Chicago Plaza Shopping Center at University Avenue and Chicago Avenue in Riverside to YTK Chicago for $11.1 million. Alan Krueger of Marcus & Millichap represented Passco and the buyer.
Irvine-based 71-81 Cowan Building LLC purchased the Cowan building, a 61,366-square-foot office building at 17771-17781 Cowan Ave. in Irvine, from Newport Beach-based Layton-Belling & Associates and its partner, AEW Capital Management, for $10.1 million. Kevin Shannon, Bryon Ward and Jack McNutt of Grubb & Ellis represented the seller. Michael Rademaker of MGR Inc. represented the buyer.
CIP Real Estate of Irvine sold the 173,467-square-foot La Habra Business Center, an industrial park on South Cypress Street near Imperial Highway in La Habra, to affiliates of Transtar Commercial Real Estate Services for about $9.4 million. The buyer and seller were represented by Michael Lawrence and Marcus Agoritsas of Marcus & Millichap.
Intercon Merchandising Source, a gift importer, signed a 7 1/2-year, $8.4-million sublease for 286,822 square feet of industrial space at 500 S. Seventh Ave. in Industry. Phil Lombardo of Trammell Crow Co. represented the tenant and the sublandlord, Volkswagen of America Inc.
First Industrial Realty Trust Inc. acquired a 115,702-square-foot industrial building at 21136 S. Wilmington Ave. in Carson for $8.2 million from Copley Pension Properties VI. David Hasbrouck and Scott Schumacher of Cushman & Wakefield represented the buyer and the seller.
Aslan Realty Group of Irvine acquired the 108-unit Village Crossing Apartments at 11838 Central Ave. in Chino for $6.5 million from Village Crossing Chino Ltd. The buyer and the seller were represented by Marjorie Malloy of Hendricks & Partners.
Pyramid Logistics bought a 2.9-acre industrial site at 14650 Hoover St. in Westminster for $5.4 million from Sares-Regis Group. The seller was represented by Brad Bierbaum, Bob Goodmanson, Brian DeRevere, Mark Lawson and Gary Stache of CB Richard Ellis. The buyer was represented by Sean Ahern of Lee & Associates.
The U.S. General Services Administration signed a 10-year, $5.4-million lease for 17,795 square feet of office space at Centrum North, 1120 W. La Veta Ave. in Orange. Sonya Dopp-Grech of Lee & Associates represented the tenant and the landlord, CRC Real Estate Corp.
Styles for Less, a clothing retailer, signed a 10-year, $5.3-million lease for a 77,640-square-foot industrial building at 12728 S. Shoemaker Ave. in Santa Fe Springs that will become the company’s corporate headquarters. Jack Faris and Alan Pekarcik of Voit Commercial Brokerage represented the tenant. The landlord, Golden Springs Business Park, was represented by Clyde Stauff of Colliers Seeley International.
Chris and Dia Andrews bought 31,411-square-foot Katella Center shopping mall at 1711-1731 W. Katella Ave. in Anaheim for almost $5 million from Independent Development Co. Rich Walter and David Lee of Faris Lee Investments represented the seller. The buyers were represented by Darell McKibban of Lee & Associates and Steve Cooper of Uptown Real Estate.
M. Block & Sons Inc., a Chicago-based wholesale distribution company, signed a four-year, $4.1-million sublease for a 285,600-square-foot industrial building at 5725 E. Jurupa St. in Ontario. Ron Washle of Grubb & Ellis represented the tenant. The sublandlord, Manhattan Beach-based Skechers USA, was represented by Lynn Knox of CB Richard Ellis.
Khuri Family Trust purchased a 15,000-square-foot retail property at 2828 Campus Parkway in Moreno Valley for $3.3 million from the Yates Family Trust. Martin B. Cohan and Joshua L. Levy of Grubb & Ellis represented the seller. Jamil Tams of Century 21 Alliance represented the buyer.
Office-supply company Staples Inc. signed a 15-year, $4-million lease for a 24,000-square-foot build-to-suit building at the northeast corner of Washington Street and Highway 111 in La Quinta. Jay Brun of Lee & Associates represented Staples. The landlord, Washington Plaza Associates, was represented by Fred Heichman and Wana Sims of Urban Retail Properties.
Bisco Industries, a marketer and distributor of electronic components, fasteners and circuit-board hardware, purchased a 39,043-square-foot industrial building at 1500 N. Lakeview Ave. in Anaheim for $3.7 million from Lakeview & Orangethorpe Business Center of Laguna Hills. Steve Bryant of Grubb & Ellis represented the buyer. Mike Hefner of Voit Commercial Brokerage represented the seller.
