Charter Communications Buys Irwindale Properties
Charter Communications acquired two office buildings totaling 210,000 square feet at 4777 and 4781 Irwindale Ave. in Irwindale for $20 million from Trammell Crow Co. in a build-to-suit purchase and has consolidated its regional operations there. Charter was represented by Josef Farrar, David Kluth and Brian Fennelly of Julien J. Studley Inc. Trammell Crow was represented in-house by Phil Lombardo.
*
Paul Garrett of the Temecula-based Garrett Group acquired 172,000 square feet of office and industrial buildings in Temecula from Arden Realty for $18.5 million. The portfolio included three office buildings at Rancho California and Ynez roads and two industrial properties at Winchester Road and Country Center Drive. Bob Crisell and Mary Piper of Lee & Associates represented the buyer and the seller.
*
Yacoel Properties bought the 72,000-square-foot Gateway Village Plaza shopping center at 800-810 Avenida Pico in San Clemente from Tsuma Pico LP for $13 million. Reza Etedali of Sperry Van Ness represented the buyer and the seller.
*
Salomon Smith Barney will move in October to 36,000 square feet of offices at Citibank Center, 444 S. Flower St. in downtown Los Angeles, from 333 S. Grand Ave. under terms of a 10-year, $8.5-million lease. Salomon Smith will sublease the space from Arco for the first nine years of occupancy, and then go into a direct lease with building owner Meijiseimei/Pacific Freeholds at the beginning of the 10th year, according to Rosey T. Miller of Julien J. Studley Inc., who represented the tenant. Hayden Eaves and Kinden Mitchell of Colliers Seeley International represented Arco in the sublease portion of the lease, while Stephanie Abel of Insignia/ESG represented the building owner in the one-year direct lease.
*
Manchester Development acquired a land parcel in the 8000 block of Manchester Boulevard in Playa del Rey for more than $8 million. The buyer plans to raze existing commercial buildings on the property to build a 203-unit apartment complex, according to John Walsh of Marcus & Millichap, who represented the buyer. The sellers, who represented themselves, included Hannon Realty Co. and the Winifred S. Cockey 1988 Trust.
*
Back Bay Center Ltd. bought the 164,657-square-foot Back Bay Center at 2651 Irvine Ave. in Costa Mesa from American Maxim for $7.3 million. The seller was represented by Reza Etedali and Mehran Foroughi of Sperry Van Ness. The buyer was represented by Rod Apodaca, also of Sperry Van Ness.
*
The Allen Family Trust bought the 15,120-square-foot Walgreen’s retail property at 1028 San Fernando Road in Burbank from Crown Alameda Associates for approximately $5.9 million. Peter P. Ioannou of Marcus & Millichap represented the buyer. The seller was represented by Don Emas and Kevin Boeve, also of Marcus & Millichap.
*
USA Wireless Technologies Inc. signed a five-year, $3.7-million lease for 98,840 square feet of space at 8000 Woodley Ave. in Van Nuys. The tenant was represented by Ross Thomas of Delphi Business Properties. The landlord, Prudential Insurance Co., was represented by Dave Hasbrouck and Mike Clark of Cushman & Wakefield.
*
Acey Decy Lighting bought a 58,000-square-foot industrial building at 200 Parkside Drive in San Fernando’s Parkside Industrial Center for $3.5 million from S&C; Co. Ross Thomas of Delphi Business Properties represented the seller. The buyer was represented by Chuck Eickhoff of Daum Commercial Real Estate Services.
