In the $12.9 million off-market deal, Phil Cohen of the Irvineoffice of Lee & Associates reports that the Jack MarkovitzTrust bought a 44,123-sf office building called Red Hill CorporatePlaza at 15501 Red Hill Ave. in Tustin. Cohen, who represented boththe buyer and the seller, John R. Saunders of Red Hill LLC, reportsthat the deal traded at a 7% cap rate and that the buyer acquiredthe property in a 1031 exchange for cash flow purposes.

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"In today's economy, this was a good investment for the buyerbecause of the good cap rate, and a very attractive loan that wasassumed as part of the transaction," Cohen notes. The 44,123-sfoffice building was built in 1984 and is the headquarters ofOncotech, a company that provides molecular oncology testingservices to more than 1,000 hospitals throughout the US and Europe.The company also assists doctors in the care and management oftheir cancer patients.

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[IMGCAP(2)]In another transaction also on Red Hill Avenue,senior vice president Mike Hartel of the Irvine office of VoitCommercial Brokerage reports that a group of private investorscalled 15771 Red Hill LLC has acquired a 79,756-sf industrialproperty at 15771 Red Hill Ave. from SK Red Hill Properties LLC for$12 million. Hartel, who represented the buyer, says that "acompelling financing package" was one of the reasons that the dealwent through despite the uncertain capital markets environment.Thanks to the investor's close relationship with his lender, Bankof America, and "the hard work of its representatives, Jason Pakand Melanie Smith," Hartel says, "the lender was able to provide acompelling financing package to motivate the buyer to continue withthis transaction."

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Hartel also credits the quality of the real estate and theefforts of others involved in the deal with bringing thetransaction to fruition. He cites "the hard work of therepresentatives from CB Richard Ellis, Bank of America andLandAmerica Title/Escrow, as well as extensive cooperation fromboth the buyer and the seller." The seller was represented by GreggHaley and Kelly Kayl of CB Richard Ellis.

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The 79,756-sf building is situated on six acres of land andfeatures 36,000 sf of new office space. The property is 50% leasedby a single tenant, Cookie Lee, which sells jewelry directly tocustomers through a network of independent consultants.

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In the third transaction, the $10 million portfolio includedthree medical office buildings totaling 46,441 sf, according toJohn Bosko and Bob Bush of NAI Capital's Newport Beach office, whorepresented the buyer, KAMF Tustin LLC. The first property is a14,023-sf assset known as the Tustin Medical Arts building, at13422 Newport Ave. Bosko and Bush also represented the seller,Tustin Medical Arts.

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Another 20,450 sf of the portfolio included buildings at 13362and 13372 Newport Ave. The seller, Selcasnan Limited Partnership,was represented by Gary Stache and Pat Scruggs of CBRE.

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The third part of the package was an 11,968-sf building on45,302 sf of land at 1101 Bryan Ave. The seller was Bryan MedicalLLC, which represented itself.

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Bosko and Bush will also be the leasing brokers for two units ofapproximately 3,000 sf each in the 1101 Bryan Ave. building. Boskonotes that the new owner will be implementing a new landscape planand will be completing substantial tenant improvements at thevacant suites.

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