MONROVIA, CA-Noble Holdings LLC of Los Angeles has purchased a 20,656-sf retail building for $3.2 million and a tenant in Thousand Oaks has signed for 8,166 sf of retail space in a $2.2 million lease, according to Sperry Van Ness and NAI Capital Commercial. In the sale, Noble Holdings acquired its new asset from SBMC Monrovia LLC of Beverly Hills, with Fariba Kavian of Sperry Van Ness representing the buyer and the seller being represented internally. The property is at 729 E. Huntington Drive. Kavian says the buyer was looking to invest in a retail property located in a densely populated area. The property that Noble bought was built in 1980 and is in a densely developed area of Monrovia. The single-tenant property is occupied by Michael’s Arts & Crafts and is part of a larger center that includes such tenants as Albertson’s market, Kragen Auto and 24 Hour Fitness.In the Thousand Oaks lease, Italian restaurant Buca di Beppo signed for 15 years, according to Michael Schiff of NAI Capital Commercial, who represented the tenant. Schiff reports that Buca di Beppo will be expanding into the Thousand Oaks market with a new Southern Italian style restaurant that will be open for dinner in fall 2004. The restaurant’s newest location is in the 456,000-sf Janss Marketplace, which is located at the intersection of Moorpark and Hillcrest. Buca di Beppo has more than 100 restaurant locations throughout the country. The landlord, Newmark Merrill Cos., represented itself.

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