Law Firm Preleases in Citrus Towers in $14M Deal
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RIVERSIDE, CA-The law firm of Best Best & Krieger has leased 35,000 square feet in the Citrus Tower in this city. The 10-year deal is worth $14.4 million. The lease fills roughly 25% of the six-story office building, which is the only office building currently under construction in the Inland Empire. Completion is expected in April 2012. Rich Erickson, Dave Mudge and Tom Pierik of Lee & Associates’ Riverside office represented the landlord, Regional Properties Inc. Aaron Wright and Andy Lustgarten of Studley Inc. represented the tenant.
HUNTINGTON BEACH, CA-Nordstrom Rack leased a 34,000-square-foot retail space at Edinger Plaza in this north Orange County city. The store is scheduled to open in fall 2012 at Edinger Plaza in Huntington Beach, CA. Neighboring tenants in Edinger Plaza include Dick’s Sporting Goods, Michaels and PetSmart. The center is owned and managed by Watt Cos., while Wilson Commercial Real Estate handling leasing.
LOS ANGELES, CA-The law firm of Danning Gill Diamond & Kollitz LLP leased 22,000 square feet for an undisclosed term at 1900 Ave. of the Stars in Century City. The law firm relocated from 2029 Century Park E., also in Century City. The law firm was represented by Mike Catalano of Studley’s West Los Angeles office. The owner, Duesenberg Investment Co., was repped by Topa Management Co.
INGLEWOOD, CA-High-end furniture and home furnishings maker J. Robert Scott inked a 78-month, $4.3-million lease renewal for its headquarters in the Airport Business Park. Doug Marshall of the Klabin Co./CORFAC International’s Los Angeles office, represented the tenant, while F. Ronald Rader of the same firm represented the landlord, Roxbury Property Mgt.
CONCORD, CA-Aucenco PSI leased 20,100 square feet at Concord Corporate Centre in this Northern California city. Representing the tenant was Scott Finegold of Finegold Commercial Real Estate, while the landlord, Westcore Properties, was represented by Tom Fehr of Cornish and Carey Commercial. Tenants of Concord Corporate Centre include Roundtable, Pacific Bell Directory and Pinnacle Capital.
HOLLYWOOD, CA-Cassil LLC, a rental equipment company, purchased a 4,026-square-foot industrial building in Hollywood for a little under $1.3 million. Kathleen A. Silver and Kay Thorpe, both based in Colliers International’s West Los Angeles office, along with Steve Tronson and John Tronson of Avison Young represented the seller, Cassil Management LLC, while buyer was repped by Avison’s Lori King.
ALISO VIEJO, CA-Commons 1 LLC of Laguna Niguel, CA bought a 32,000-square-foot retail center, Aliso Commons Center, for $14 million. The seller was Candy Grant, a principal of Newport Beach-based Real Estate Receiverships. Tenants in the retail center include Trader Joe’s market and five other merchants. Located next to Aliso Viejo Town Center, the property had been placed into receivership by American Security Bank.
TUSTIN, CA –In an owner-occupant sale, H2 Chambers LLC paid $7 million for a 60,000-square-foot building. The buyer was represented by Vince Kagawan of Pinnacle Real Estate, while Advanced Real Estate Services repped the seller, Straub Distribution Co. The company is the exclusive wholesaler of Anheuser Busch products in Orange County and parts of the Inland Empire.
In a separate transaction, Kosakura Inc., a manufacturer of retail displays, signed a five-year lease with a purchase option on a 74,000-square-foot facility in Irvine, CA owned by Straub. Kosakura was represented by Wade Tift of Grubb & Ellis, while ARES repped the owner.
MURRIETA, CA-Mon Mon LLC paid $8.5 million for a 60,000-square-foot shopping center on Murrieta Hot Springs Road in this Southern California city. This neighborhood shopping center is anchored by Fresh & Easy, and has eight retail suites ranging from 1,300 square feet to 10,700 square feet. Todd Holley of Voit Real Estate Services’ San Diego office represented the buyer, while the seller, MS Kearny CPB 3 LLC, was represented by John Read, Patrick Toomey and Phillip Voorhees of CB Richard Ellis.
PLEASANTON, CA- Axis Community Health bought a 24,188-square-foot office building in the Hacienda Business Park previously occupied by DirectBuy.com. Mark Triska of Colliers International represented the tenant, while the seller, Cathay Bank, was represented by Anton Qui with TRI Commercial.
ALAMEDA, CA-Alliant Capital LLC provided $1.12 million in refinancing to a 15-unit apartment complex in this north Bay Area city. The Fannie Mae DUS Small Loan refinancing carries a 4.14% interest rate and a 10-year, fixed-rate term with a 30-year amortization. Robert Feldman of Alliant’s San Francisco office arranged the loan.
REDLANDS, CA-The Kimberly-Clark plant in this Southern California city has installed one of the largest single rooftop solar power systems in the country. Expanding on a 100 kilowatt solar array installed in 2009, the 3.5 megawatt (AC), solar installation currently covers 350,000 square feet of roof space. The energy generated from the solar array is expected to produce up to 6.6 million kilowatt-hours annually, or enough electricity to power 925 Southern California homes for a year. Prologis, which owns the building as part of its Prologis Park Redlands #5, managed the construction of the solar facility. The project was designed and financed by Southern California Edison, which owns the solar equipment and plans to use the power to serve customers in the community. Kimberly-Clark is the building's sole tenant and receives power from the original 100-kilowatt solar installation.
EL SEGUNDO, CA-Annabelle Morris joined Griffin Capital as managing director of national accounts. In her new assignment, Morris will be responsible for leadership of the firm’s relationships with independent broker-dealers throughout the United States. Morris joins the firm from Behringer Harvard, where she was vice president. Also joining Griffin Capital are Jonathan Dease and Omar Limon, who are to serve as key account associates. The duo most recently served as national accounts managers with Grubb & Ellis Capital Corp.
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