San Diego

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Bixby Land Co. has acquired a 50,000-square-foot research anddevelopment facility in San Diego, for $9.2 million. The property,which was purchased from LBA Realty, increases Bixby's totalportfolio to more than six million square feet. With thisacquisition complete, the REIT is shifting its acquisition focus toa value-add investment strategy based on changing market dynamicsin 2010. "We believe we can identify investment opportunitiessuitable for our REIT from distressed sellers needing to dispose oftheir properties," says Bill Halford, president and CEO of BixbyLand Co. "The existence of these opportunities will have asignificant influence on our acquisition strategy as we look toexpand our REIT portfolio." The single-tenant research anddevelopment building constructed in 1991 is located at 6325 LuskBlvd. in the Sorrento Valley sub-market of San Diego. The buildingis occupied by Quantum Designs, a manufacturer of integrated,automated systems for characterizing scientific research materialsover a broad range of temperatures and applied magnetic fields.Harry Stone of Voit Commercial Brokerage represented both Bixby andLBA in the transaction.

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Latham & Watkins LLP leased 28,726 square feet of officespace for three years, eight months at 12636 High Bluff Dr., Suite300 and 400, from Arden Realty Inc. for $3.3 million. Tony Russell,Joe Anderson and Brooks Campbell of Cassidy Turley BRE Commercialrepresented the lessor in the transaction. Jerry Keeney of CassidyTurley BRE Commercial represented the lessee.

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DataQuick Information Systems Inc. has signed a 36-month, $1.5million lease renewal for 26,897 square feet of office space inEastgate Technology Park at 9620 Towne Centre Dr. in San Diego. Thelessee was represented by Cushman & Wakefield Inc. The lessor,the Irvine Co. LLC, represented itself. Eastgate Technology Park, a14-building, 734,000-square-foot office park, is located nearUniversity Town Centre.

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Douglas E. Barnhart purchased 12,760 square feet of office spaceat 10803 Thornmint Rd. from Mission Federal Credit Union for $3.5million. Brian Driscoll, Rick Reeder and Brian Starck of CassidyTurley BRE Commercial represented the seller in the transaction.The buyer's representation was undisclosed.

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In an all-cash transaction, PacVentures Inc. has purchased 16 of27 units in the nine-story Metrowork class-A office condominiumdevelopment at 1350 Columbia St. in Downtown San Diego for anundisclosed price. The property was acquired as an REO asset fromKey Bank, and closing was completed in less than five days fromexecution of the purchase agreement. PacVentures bought theproperty through its PV Opportunity Fund I LP, the third investmentfor the Fund in 2009. PacVentures now owns 35,700 net rentablesquare feet in the building, which amounts to approximately 64% ofthe building's 56,000 square feet of office condominiums. The firsttwo floors are occupied by a retail tenant.

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Orange County

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[IMGCAP(2)]RB Dwyer Co. has signed a seven-year lease on a104,000-square-foot industrial property in Anaheim, CA for $5.4million. The property is located at 2891 East Miraloma Ave. and isclose to where the 57 Freeway intersects with the 91 Freeway. Thelessor, MS Partners, a real estate investment company, wasrepresented by Voit Real Estate Services. CB Richard Ellis Inc.represented the lessee. "We understood our client's needs and wereable to negotiate a new long-term lease that not only preserved aquality tenant on a long term basis, but also created anopportunity for the ownership to satisfy its refinancingrequirement" says Mike Hefner, executive vice president of Voit'sAnaheim Metro office. "Preemptively modifying existing lease termsin exchange for a longer term tenant commitment is a strategy beingimplemented by many property owners who want to proactively avoid avacancy in today's market." RB Dwyer is the leading converter andsupplier of various heat shrink packaging materials such as cutflat bands, printed labels and seamless and seamed roll stock.

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[IMGCAP(3)]Edward B. Hanley and Eric P. Wohl of HanleyInvestment Group Real Estate Advisors represented Los Angeles-basedWestwood Financial in the sale of a multi-tenant retail stripcenter in Tustin, CA. The purchase price was nearly $3 million,representing $312 per square foot. The 9,597-square-foot retailcenter, known as Walnut Newport Center, is located at 13842 NewportAve. The four-tenant strip center is anchored by Blockbuster Videoand is situated on a 0.74 acre parcel of land. Built in 1986,Walnut Newport Center was 100% occupied at the time of sale. "Dueto the property's excellent location and surrounding demographics,we experienced a great deal of interest," says president Hanley.The sale was an all cash transaction. The buyer, Lee Family Trustof Orange County was represented by Chuck Hathoot of PrudentialCalifornia Realty based in Laguna Niguel, CA.

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SCIF Fullerton LLC has sold five industrial buildings totaling31,175 square feet in Fullerton, CA for $4.5 million. The fivebuildings are part of a newly developed 221,253-square-footindustrial business park, the Valencia Business Center, which iscomposed of 25 buildings ranging in size from 5,117 square feet to23,816 square feet. Voit Real Estate Services represented theseller and two of the four total buyers in the transaction. TheValencia Business Center is located at the intersection of EastValencia Drive and Sally Place, close to the Fullerton AmtrakStation Platform and with access to the 91, 57 and 5 freeways. Thefive properties included in the recent sales are: 1456 & 1476E. Valencia Dr., an 11,117-square-foot industrial property, wasacquired by Phillip Dionne for $1.6 million; 1372 E. Valencia Dr.,a 7,818-square-foot industrial property, was acquired by TerryFleming for $1.1 million; 1432 E. Valencia Dr., a 6,590-square-footindustrial property was acquired by Kyong Son for $950,000; and1424 E. Valencia Dr., A 5,650-square-foot industrial property wasacquired by Joe Yoon for $800,000.

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Los Angeles

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[IMGCAP(4)]TPMC California, a subsidiary of TPMC Realty Corp.,has completed a $5-million redevelopment of 12301 Wilshire Blvd., asix floor, 107,000-square-foot class-A office building in West LosAngeles. The 1970's era building underwent a completetransformation at the ground level, including installation of a newmodern glass façade and a complete renovation of the building'slobby and outdoor plaza.

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Las Vegas

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Total Renal Care Inc. signed a nearly $3.4-million, 180-monthlease of 11,995 square feet of medical office space fromMeadows-Zim LLC. The property is located at 150 S. Valley ViewBlvd. in Las Vegas. CB Richard Ellis Inc.'s Bruce Follmer and CarlaCole represented the lessee.

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Joeker LLC dba HobbyTown USA has signed a 120-month lease. The4,000-square-foot retail property is located at 4590 W. SaharaAve., Ste. 103. The total value of the transaction was $828,000.David A. Grant of Colliers International represented the lessor,McLaren Las Vegas LP.

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Denver

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Bank of the West sold 5055 E. 48th Ave., a 43,000-square-footindustrial building, to Premier RE Holdings for an undisclosedprice. Grubb & Ellis Co. and Acquire Real Estate representedthe seller in the transaction. CB Richard Ellis Inc. representedthe buyer.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.