Ocean Beach Investors Buys Park Tower in Long Beach

Ocean Beach Investors of San Francisco bought the 115,407-square-foot Park Tower office building at 5150 Pacific Coast Highway in Long Beach from Southwest Value Partners of Los Angeles for $14.5 million. The seller was represented by Kevin Shannon, Robert Alperin, Robert Geary and Kim Wassick of Grubb & Ellis. Jack Ruban of Southpark Group represented the buyer.

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GDA Real Estate of Greenwood, Colo., purchased the 91,688-square-foot Village Faire office and retail property at Carlsbad Boulevard and Carlsbad Village Drive in Carlsbad for $12.7 million from Carlsbad Village Faire LLC of Rolling Hills Estates. Kevin Shannon, Jeff Hanson and Gregg Herbert of Grubb & Ellis represented the buyer and the seller.

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The Carson Cos. of Rancho Dominguez bought a 181,411-square-foot warehouse at Seventh Street and Toronto Avenue in Rancho Cucamonga from Panattoni Development of Irvine for $8 million. The buyer and seller represented themselves.

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The Hamilton Co. of Newport Beach purchased a vacant, 85,514-square-foot office building at 14511 Myford Road in Tustin for $7 million from Dallas-based Texas Instruments Inc. Bryon Ward of Grubb & Ellis represented the buyer, and Mike Smith of Staubach Co. represented the seller.

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Randy Kirshner and James Orr of VBC Investors bought the 63,000-square-foot Valley Business Center at 21021 Soledad Canyon Road in Santa Clarita for about $5.5 million. The buyers represented themselves. James Orr of Aspen Investments represented seller Pioneer Square Associates.

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Turner Development Corp. bought a 43,868-square-foot industrial building at 9835 Santa Fe Springs Road in Santa Fe Springs from Hermen L. Weiner for about $3.3 million. Scott Smith, Steve Batcheller and Pat Welsh of CB Richard Ellis represented Weiner. Clif Fincher of Lee & Associates represented the buyer.