Competitor Group Inc. has signed a seven-year, nearly $5.13 million lease expansion for 56,796 square feet of industrial space in Pacific Technology Park at 9477 Waples St. in San Diego. The company, which focuses specifically on endurance sports and running events, is expanding its space in the park by nearly 40%. Competitor Group previously occupied 34,951 square feet at 9401 Waples St., also in Pacific Technology Park. The lessor, Pacific Tech Property Inc., was represented by Cushman & Wakefield. Competitor Group Inc. was represented by Irving Hughes. Pacific Technology Park is a five-building, 542,776-square-foot multi-use park located in the Sorrento Mesa area of San Diego. The park currently offers space available from 22,000 to 44,000 square feet. Pacific Technology Park features fully improved office space and dock high and grade level loading for warehouse and distribution needs.
Tenant improvement construction has begun for the 56,700-square-foot office, R&D and manufacturing facility of Roka Bioscience Inc., located at 10398 Pacific Center Court in the Sorrento Mesa area of San Diego. Smith Consulting Architects is providing full space planning and interior design services for the building tenant improvements. The two-story building, formerly occupied by Nanogen, will encompass office and laboratory space and manufacturing areas to facilitate Roka Bioscience’s newly formed operations. Design and construction is being performed in two phases to expedite completion and allow Roka Bioscience to occupy the space by March 31. Full completion is targeted for June.
[IMGCAP(2)]Phoenix Group Information Systems has signed a 7,193-square-foot, 72-month lease at the Main Street Town Center, a 215,000-square-foot class A office building located at 2677 Main St. in Santa Ana. The lease is valued at more than $1 million. The Phoenix Group, which will join Aetna and Morgan Stanley as tenants, will take possession of the office space in April, 2010. As the exclusive leasing agent for the Main Street Town Center, David Girty and Steven Hogberg of Coreland Cos. represented the landlord, the Muller Co. of Laguna Hills, CA. Marshal Vogt and George Thompson of Lee & Associates of Orange represented the Phoenix Group. “After an exhaustive 12-month search, the Phoenix Group selected Main Street Town Center in order to relocate to a class A high-rise office building with first-class building ownership and management,” says Hogberg. “This lease brings us to over 87% occupied with less than 25,000 square feet of space remaining to lease at Main Street Town Center. Clearly, now more than ever, well-positioned assets with a strong amenity base make a difference, especially in a market currently challenged with a 20%-plus vacancy.”
Coreland Cos. of Tustin, CA negotiated a 20,362-square-foot, 10-year retail lease with Planet Fitness, a franchise-driven health club, at Euclid Shopping Center, located at the southeast corner of Euclid Street and Katella Avenue at 1620 W. Katella Ave. The lease transaction, which is valued at approximately $2 million, brings the 206,100-square-foot community center to 100% occupied. Planet Fitness, which is expected to open in June 2010, will join anchors Food 4 Less, Big Lots and CVS/pharmacy. As the exclusive leasing agent for Euclid Shopping Center, Matt Hammond of Coreland represented the landlord, Euclid Shopping Center LLC, a private family trust located in San Diego. Garrett Colburn and Steve McClurkin of Grubb & Ellis in Newport Beach represented the tenant. “There are still some very active retailers and categories doing deals in Southern California, and fitness is one of them,” notes Hammond. “And this is one of a handful of fitness deals we are currently working on.
Chateau Camarillo, a 48 unit Apartment property located in North Hollywood, CA, has sold for $8.4 million. Jeff Louks and Matt Ziegler, investment specialists in Marcus & Millichap Real Estate Investment Services’ Encino office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured and represented by Louks and Ziegler.
Valley Soup & Sandwich recently opened a 2,340-square-foot location at Lompoc Shopping Center, located on the southwest corner of North H Street (Highway 1) and West Pine Avenue in Lompoc, CA. Centro Properties Group is the owner of Lompoc Shopping Center and was represented by Dave Burstein with Centro Properties Group.
Paul and Joyce Nikolau leased 3,612 square feet of retail space for a month to month term at 27590 Jefferson Ave. in Temecula, CA from James and Mary Anne Ramsay, trustees of the Ramsay Family Trust. Grubb & Ellis