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EL MONTE, CA-Portland’s Scanlan Kemper Bard Cos. made its second major foray into Los Angeles area investment properties in less than a month, spending $17.7 million for the mixed-use Arbor Courtyard office and industrial park on the heels of its $34-million acquisition of the CNN building in Hollywood, also known as Sunset Tower.Arbor Courtyard Business Park is a 182,352-sf development at 9420-9500 E. Telstar here, approximately 12 miles east of Downtown Los Angeles. SKB acquired the property from F&F Flair Associates, a San Francisco-area company, with Bill Palmer, John Sedar and John Hollingsworth of the Palmer Team of CB Richard Ellis in Sacramento brokering the transaction. The property consists of five buildings, two of them 100% office space, with the remaining three buildings used as office and industrial warehouse/light manufacturing space. The business park was 95% leased at the time of the sale, which SKB principals Bob Scanlan and Todd Gooding attribute to the area’s strong demographics and to Arbor Courtyard’s overall project qualities and location. It is one of the only business parks in the El Monte submarket offering dock-high and grade loading, and the project also attracts tenants looking for a combination of office space with distribution and light manufacturing capabilities, Gooding notes.The SKB purchase was among three newly closed deals reported recently in the Los Angeles area, including the $4.7 million purchase of a 62,840-sf manufacturing facility on nearly 4.9 acres in Santa Fe Springs by the William and Shirley Lunney Trust. The trust bought the property, which is at 13538 Excelsior Dr., from Excelsior Adams LTD, with George Hapsic of Voit Commercial Brokerage representing the buyer and Luke McDaniel and Bradon Weber of Cushman & Wakefield representing the seller. The building will be the new home of Gaylord’s Kustom Truck Lids Inc., originally located in Long Beach, which sought a larger facility to implement a new manufacturing process. The third deal was the $1.2-million purchase of a 14,000-sf industrial building at 1031 Kirkwall Road in Azusa by Basha Bros., a jewelry manufacturer.Grubb & Ellis reports that Basha will be occupying a portion of the new building and will be leasing back a portion of the space to a tenant. Basha, which relocated from leased office space in the Jewelry District in Downtown Los Angeles, was represented by Ryan Campbell and Rick Sheckter of the San Gabriel Valley office of Grubb & Ellis, with the seller, a private investor, represented by Lynn Knox of CB Richard Ellis.

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