Trust Buys Laguna Hills Office Plaza
Tomlinson Family Trust bought the 180,000-square-foot La Paz Office Plaza at 25200-25431 Cabot Road in Laguna Hills from Prime Real Estate Equities I. Terms of the deal were not disclosed, but industry sources believe the selling price was about $26 million. Josh Levy and Martin Cohan of Grubb & Ellis represented the buyer. Robert Smith, Michael Kane, Karen Scholte, Gary Stache and Mark Larson of CB Richard Ellis represented the seller.
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Regency Centers sold its 127,132-square-foot Plaza de Hacienda shopping center in La Puente to Plaza de Hacienda LLC for $18.1 million. Todd Goodman, Preston Setrow and Kirk Brummer of CB Richard Ellis represented the buyer and the seller.
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Birtcher Properties of Laguna Niguel purchased the 98,171-square-foot Market on the Lake retail center at Marguerite Parkway and Vista del Lago in Mission Viejo from the estate of James Campbell of Hawaii for nearly $14.8 million. Dixie Walker and Michael of Grubb & Ellis represented the buyer and the seller.
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JH Real Estate Partners of Newport Beach bought the 253-unit Carreon Villa apartment complex at 82-165 Doctor Carreon Blvd. in Indio for nearly $12.8 million from 7709 Lankershim Ltd. of Los Angeles. Alex Mogharebi of Marcus & Millichap represented the buyer and the seller.
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The law firm of Barton, Klugman & Oetting signed a 10-year, $4.5-million lease renewal for 15,000 square feet in Wells Fargo Center at 333 S. Grand Ave. in Los Angeles. The tenant was represented by Stephen L. Bay and Clay Hammerstein of Insignia/ESG. The landlord, MaguirePartners, was represented in-house.
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T. Courtney Dunbar bought a 50,800-square-foot industrial building at 12151 Monarch St. in Garden Grove for $4.3 million from Voit Development. The seller was represented by Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage. The buyer was represented by Jon Sweeney of Newmark of California.
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WCOP of West Los Angeles-purchased the 44,868-square-foot Cameron Office Park at 1700-1760 W. Cameron Ave. in West Covina from Thousand Oaks-based Silagi Development for $4.3 million. Kevin Shannon, Amy McNamara and Jim Wynne of Grubb & Ellis represented the buyer and the seller.
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Cardiovascular Medical Group of Southern California signed a five- year, $4.1-million lease renewal for 12,323 square feet at 414 N. Camden Drive in Beverly Hills. Luke Palmo of Coldwell Banker Commercial Westmac represented the tenant. The landlord, Douglas Emmett Realty Fund, represented itself.
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Sycamore Senior Village Partners of Los Angeles bought a 288,050-square-foot building on 10.4 acres at 333 N. F St. in Oxnard for $4 million from Orton Development Inc. of Emeryville, Calif., and has obtained approvals for a 300-unit senior housing project at the site. The building, previously occupied by a hospital, was vacant at the time of sale. Gregg Herbert and Jeff Hanson of Grubb & Ellis represented the buyer and the seller.
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Mission Hills-based Asset Management Consultants Inc. acquired a 38,400-square-foot office building at 501 Brookhurst St. in Anaheim for $3.9 million from Doug Stevens of San Luis Obispo. George Economos of NAI Capital Commercial represented the buyer and the seller.
