In that Irvine transaction, M2 sold the five condominiums at Von KarmanCenter totaling 19,245 sf for $5.5 million to Lisa Farmer and Fred Totah. The condos are located at 16782 Von Karman Ave., according to Walter Frome and Bill Livesay of Voit's Irvine office, who represented the seller. Tom Taylor and Gary McArdell of Grubb & Ellis Co. represented the buyers.
In a transaction in Anaheim, Windstar Group, a subsidiary of the San Diego-based commercial development company Nexus properties, sold a 23,904-sf industrial property at 1900 and 1904 E. Wright Circle in Anaheim to Rey and Janis Harju for $4.3 million. The property is located at the intersection of the Interstate 5 Freeway and the Route 57 Freeway in the Platinum Triangle of Anaheim. Windstar was represented by Mitch Zehner, Louis Tomaselli and Seth Davenport of Voit's Anaheim office, with the buyers represented by Henry Hung of Centemac Realty.
In Cerritos, the Fong Family Trust sold a 22,214-sf industrial building at 16429 Berwyn R. near the 5 and 91 freeways to John Chang for $3 million. The seller was represented by Cameron Driscoll and Luke McDaniel of Voit's Anaheim Metro office, with the buyer represented by Janet Chang.
The other three transactions ranged from just under $1.1 million to $2.7 million and involved buildings ranging from 6,000 sf to more than 11,300 sf in Costa Mesa, Lake Forest and Fullerton. The recent spate of closings illustrates what major brokerages reported in their first-quarter surveys of the Orange County industrial market: Orange County's industrial market has held onto much of the momentum of earlier periods in the first part of this year, in contrast to the county's office market, which is reeling under the burden of loads of space vacated by mortgage-related businesses. Reports from Cushman & Wakefield, Voit Commercial Brokerage and CB Richard Ellis show an industrial market where vacancy edged up slightly in the first quarter but remains quite low, and rental rates are holding on.
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