THE DEAL SHEET
| LEASING |
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| HomeGoods inked a 10-year, 24k SF lease at the Sher Lane Shops in Huntington Beach. Present Value Properties VP Sharon Courtway(pictured with her husband Mike) repped Sher Lane Shops, while HomeGoods was repped by the Clover Co’s Anthony Mansour. HomeGoods will join Men’s Wearhouse, Stone Hedge Tiles, and Vitamin Shoppe at Sher Lane Shops, a 45k SF community center, in the spring of 2013, occupying the former Office Depot space at 7742 Edinger Ave. This will be HomeGoods' fourth standalone location in Orange County.***Pacific World Corp, previously located in Lake Forest, is relocating its HQ to Summit Office Campus in Aliso Viejo, leasing 31k SF. Stream Realty Partners co-managing partners Colby Annett and Blaine Annett repped landlord RREEF, while Guardian Commercial Realty prez Robert Chavez repped Pacific World Corp. *** Other tenants who've inked leases recently at Summit Office Campus include law firm Palumbo Bergstrom (9,800 SF), home builder the New Home Co (8,800 SF), physician recruiting agency Pacific Cos (5,800 SF), law firm Walraven & Lehman (3,200 SF), and insurance brokerage Barney & Barney (3,100 SF). Colby and Blaine repped the landlord in all those deals as well. *** |
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| Pacific Trust Bank renewed its lease in Irvine Towers at 18500 Von Karmen Ave and expanded its space in the property by 50%, an additional 21k SF. That brings the bank’s total occupancy at Irvine Towers to almost 63k SF. Transwestern’s David Giglio and Lori Smith, both in the company’s Orange County office, repped the bank. The building owner, the Irvine Co, was repped in-house by Mike Hodges. |
| SALES |
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| Rangar West bought a 125k SF industrial building at 12101 Western Ave in Garden Grove for $12.8M. The building is on a 6.2-acre site and features 14 dock doors. Tim Arguello of Lee & Associates’ Newport Beach office repped the seller, 12101 LLC, while Voit Real Estate Services’ Peter Castleton and Kidder Matthews’ Todd Clarke repped the buyer. “Because market activity is strong on buildings of this size range, there were multiple parties interested in leasing or purchasing the facility,” notes Tim.***Penwood Real Estate Investment Management, through one of its value-added investment vehicles, acquired a 345k SF industrial building at 1683 Sunflower Ave in Costa Mesa. The two-tenant building was purchased with a 112k SF vacancy. Mitch Zehner of Voit Real Estate Services’ Anaheim metro office and Michael Hartel of Voit’s Irvine office repped the buyer. BUSINESS Grand Bank of Hamilton, NJ, inked a deal to sell its ICON Residential Lenders unit—a national wholesale mortgage originator and servicer in Irvine—to Rushmore Loan Management Services for undisclosed sum. Simultaneously, Grand Bank named Andrew Pollock CEO of ICON Residential Lenders, a position that was previously vacant. |
| EXECUTIVE MOVES |
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| The Saywitz Co promoted Aaron Roberts to manager of brokerage services. He will oversee daily operations of the firm’s brokerage and business development divisions, managing the individual brokers and administrative staff. Aaron has been with the firm since '08. The company also hired Tyler Edminsten-Garcia as associate in the firm’s Newport Beach office. Previously, Tyler was with Verizon Wireless and Adecco in biz dev, customer service, and client relations. Another new associate joining Saywitz is James Dionicio. Before joining the company, he worked for a M&A firm providing financial analysis and client relations.*** |
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| Trumark Homes, a diversified developer and builder, hired Phil Wagner as its new director of land development. Based in the company’s Newport Beach office, Phil will be responsible for all aspects of land development, including sourcing, underwriting, and entitling new opportunities. Before joining Trumark, Phil worked at Lennar Homes of California, where he managed the acquisition and disposition of real property assets. *** Aliso Viejo-based Harcourts USA tapped Imran Poladi director of franchise development. Imran will focus on New Zealand-based Harcourts' expansion throughout the US, with an initial focus on California. |
