NEWPORT BEACH, CA-Turner Real Estate Investments has purchased a 30,000-square-foot, class-B office building here at 1300 Quail St. for an undisclosed price from an unnamed seller. The two-story, freestanding office building, located in the Airport submarket, was acquired for the Turner Real Estate Fund II portfolio. TREI plans to completely renovate the interior and exterior of the building, as well as common areas and vacant units, by the end of the third quarter. TREI's president and CEO worked with Brian Garbutt and Allen Basso of Lee & Associates, while Sean Ahern of Lee & Associates represented the seller in the transaction.

SAN BERNARDINO, CA-Rancon Realty Fund V (a California limited partnership) has sold Three Carnegie Plaza, a 85,846-square-foot, two-story office building at 735 E. Carnegie Dr. here, to 1250 Fairfax, LLC and 521 East 11^th St., LLC (a 1031-exchange partnership) for $8 million. The building was 64% occupied at the close of escrow. Canadian-based Avison Young principals Dan Vittone and Alan Pekarcik represented both parties in the transaction. The building is part of the Tri-City Corporate Centre, a 153-acre, master-planned mixed-use development that offers office and retail options totaling more than 1.2 million square feet.

RENTON, WA-First Citizens Bank & Trust Co. of San Diego has sold Chateau de Ville, a 47-unit apartment community marketed as an unpriced asset at 110 Williams Ave. S. here, for $7.8 million or $164,894 per unit, to Jade Investments LLC of Bellevue, WA. The transaction was negotiated by Kyle Hunt of the Seattle office of Hendricks-Berkadia.

CARMICHAEL, CA-Los Angeles-based Dylan Investment Properties has acquired St. George Medical Center, a multi-tenant, 52,677-square-foot, four-story medical-office building located at 6620 Coyle Ave. here, for an undisclosed sum from SA Challenger Inc. The center is situated adjacent to Mercy San Juan Medical Center, a 370-bed acute care hospital. NGKF Capital Markets represented the buyer in the transaction. In other NGKF news, the firm has completed the sale of 20050 S. Vermont Ave. in Torrance, CA, on behalf of R.C. Colyear Properties LLC, a local private investor, for an undisclosed sum. The one-story, 31,000-square-foot property situated on 5 acres was formerly occupied by ITT Technical Institute. NGKF senior managing directors Hook McCullough and Jim Jandro handle private-client investment sales. The new owner, Shalom Church of Southern California, plans to repurpose the building for religious use, and will conduct services in Korean for members of its congregation. Shalom Church was represented by James Kong of Coldwell Banker Commercial.

LEASES

INLAND EMPIRE, CA-The Saywitz Co. has negotiated three leases here totaling 151,273 square feet plus 8.5 acres of land for a total of $7 million. Barry Saywitz, president of the Saywitz Co., represented Halex Corp., a global manufacturer of flooring-installation products, in the relocation of its corporate headquarters and West Coast distribution facility from Pomona to 4200 Santa Ana St. in Ontario. The 63-month lease for 62,476 square feet is valued at approximately $2 million; Jim Koenig of CBRE represented the owner, CLP Industrial Properties. Saywitz also represented Western Express, a global transportation company, in a long-term lease agreement with Bowman Distribution, a national trucking, distribution and trailer transportation company, for the sublease of its facilities in Fontana. The six-year lease transaction is valued at approximately $2 million. Bowman represented itself in the transaction. Finally, Andrew Herron, SVP at the Saywitz Co., represented Chenbro Micom (USA) Inc., a global manufacturer and distributor of computer racking products, in the expansion of its US headquarters facility at 2800 Jurupa St. in Ontario to 88,797 square feet. The seven-year lease is valued at $3 million. Koenig represented owner Industrial Income Trust in the transaction. IRVINE, CA-Shur-Lok Co., a division of Precision Castparts Corp. and manufacturer of fasteners and fittings for the aerospace and defense industries, has signed a lease renewal at 2541 White Rd. here valued at more than $4 million. The Yahn Group, a commercial real estate brokerage team based in the Cushman & Wakefield Orange County office here, represented the tenant in the transaction.

SAN DIEGO-Bastyr University and HG Motorsports, existing tenants at Sorrento Pines, an office and industrial complex in the Sorrento Valley neighborhood here, have collectively leased 18,812 square feet in additional space. In addition, VWR International, a distributor of life-sciences and analytical products, renewed its nearly 8,000-square-foot lease. Matt Root, CEO of building owner Parallel Capital Partners, Inc., reports that the four-building complex is now 100% leased.

FINANCING

NEVADA-Artemis Realty Capital has closed a $6.8-million senior bridge loan to refinance a portfolio of three stabilized properties located throughout two Nevada markets. The portfolio includes a 124-unit multifamily community and a 121-unit property in Las Vegas, and a 77-unit multifamily rental property, which also included 6,750 square feet of ground floor retail, in Reno. The loan permitted the sponsor to effectuate a quick discounted note payoff, which was held by a regional bank, and covered 72% of the total acquisition cost. The client will seek to create additional value through capital improvements and increased occupancy and rates.

BEAVERTON, OR-U.S. Bank and C.E. John Co. have closed on an $11-million loan to finance the expansion and renovations of Cedar Hills Crossing shopping center at 3205 S.W. Cedar Hills Blvd. here. Over the coming weeks, C.E. John will be announcing a number of new tenants for the 24,000 square feet of new and remodeled improvements that are expected to be completed this fall. James E. John Construction is the general contractor for the project.