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FULLERTON, CA-JK Main has sold an 80,220-sf industrial building here to the Grody Co. for $4.2 million, according to CB Richard Ellis, and in a separate transaction in Cypress a Newport Beach developer has acquired land for an industrial condo project, according to NAI Capital Commercial.

Bob Goodmanson of the Anaheim office of CB Richard Ellis says the freestanding building that was sold in Fullerton occupies just under five acres at 4325 Artesia Ave. Goodmanson was part of a CB Richard Ellis team that represented the seller. Other members of the team were Brian DeRevere, Brad Bierbaum, and Ian Britton, all of CBREs Anaheim office. The buyer was represented by Cliff Fincher of the Anaheim office of Lee & Associates.

The building at 4325 Artesia is of single-story, concrete tilt-up construction and had been owned by the seller for two years.

In the Cypress transaction, Cypress Business Center LLC has purchased just over two acres of vacant land at 10810-10880 Walker St. from Vertex Standard USA for more than $1.8 million. Neil Miyazaki and Junko Masubayashi of NAI Capital Commercial represented both sides in the transaction.

Acacia Real Estate Group, a Newport Beach based developer, plans to build a two-building, eight-unit industrial condominium complex on the property that will be known as the Cypress Business Center. Each building will consist of four units with two-story office and warehouse space and ground level loading. The condominium sizes will range from approximately 3,900 sf to 7,000 sf, with prices ranging between the high $600,000s to approximately $1.2 million. Occupancy of the new center is scheduled for late spring 2004.

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