Verizon Renews Building Lease for $10 Million
Verizon Communications of California signed a $10-million lease renewal for a 65,000-square-foot office building at 11333 Sepulveda Blvd. in Mission Hills. The tenant was represented by Lee Black, Richard Bright and Ray Howden of Cushman & Wakefield. The landlord, Farmers Insurance Group, was represented by Steve Zaccagnini and Jeff Ingham of Jones Lang LaSalle.
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Law firm Murchison & Cumming signed a 10-year, $7.6-million lease to remain at 801 S. Grand Ave. in Los Angeles, where it has occupied 42,612 square feet for 81/2 years. Thomas G. McDonald of Cushman & Wakefield represented the tenant. The landlord, Shuwa Investments, was represented by Tom Kibler of Shuwa Leasing Corp.
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First Anaheim Hills Properties, an Encino investor, purchased the Anaheim Medical Center at 500 S. Anaheim Hills Road in Anaheim from CT Realty of Newport Beach for $6.3 million. Jeff Hanson and Gregg Herbert of Grubb & Ellis represented the buyer. John Pierce and John Griffin of Voit Commercial represented the seller.
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Parsons Brinckerhoff engineering firm signed a 10-year lease for about 14,000 square feet at Citibank Center at 444 S. Flower St. in downtown Los Angeles. Terms of the deal were not disclosed, but the value would be worth about $3.3 million at average asking rates for the building. John Ollen of Insignia/ESG represented the landlord, a partnership co-owned by British real estate firm Grosvenor. Parsons Brinckerhoff represented itself.
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Leo Danihels of Woodland Hills purchased the 72-unit Century House Apartments at 5307 Sepulveda Blvd. in Sherman Oaks from Sepulveda Apts. of Glendale and Canada for $6.2 million. Dean Zander of Hendricks & Partners represented the seller, and Jim Moore of J. Moore Associates represented the buyer.
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Ashby Enterprises bought a 49,703-square-foot industrial building at 32951-32967 Calle Perfecto in San Juan Capistrano from Capistrano Real Estate Partners for $4.4million. The buyer was represented by David Cox and Tad Garabedian of Ashwill Associates. Rob Socci, Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage represented the seller.
