SANTA ANA, CA-The real estate operating company plans to upgrade the property through exterior refurbishments. Encompassing 11,392 sf, the retail center is anchored by a Stater Brothers grocery store.

HUNTINGTON BEACH, CA-ARCS Commercial Mortgage Co. LP has closed two mortgage loans with a combined value of $21.4 million for the Huntington Beach multifamily properties.

ANAHEIM, CA-A 31-unit property is acquired by a Beverly Hills-based LP. The transaction, which is valued at $3 million, is the latest in a string of multifamily deals to occur in Orange County.

IRVINE, CA-The sale fetches $6.9 million. The seller is a joint venture consisting of Irvine-based Granite Investment Group and Los Angeles-based Hanover Financial Co. The buyer is RK Properties.

MISSION VIEJO, CA-The Mission Viejo retail complex encompasses 81,990 sf. It is anchored by TJ Maxx, Ralphs and Longs Drugs. The transaction follows on the heels of another Orange County retail sale. The Collection at Laguna was recently snapped up by Tide Lands Inc. for $6.5 million.

LAGUNA BEACH, CA-Tide Lands Inc. acquires the shopping center, known as The Collection at Laguna. The 17,664-sf property was 100% occupied at the time of sale.

ORANGE COUNTY, CA-Vacancy rates in the county's office and flex-tech sector jumped to 17.31% at the end of fourth quarter 2001, according to a recently published report by Lee & Associates. Office vacancy levels here have more than doubled since fourth quarter 2000.

COSTA MESA, CA-Alfred's Picture Frames inks a 27-month sublease for space formerly occupied by Q-Run Corp. The facility is part of Harbor Gateway.