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Sales and Leases



SALES

An affiliate of Makar Properties LLC, a Newport Beach commercial real estate company, purchased 17 acres in La Jolla from Washington-based Polygon Shelter Inc. for an undisclosed amount.

The parcel is located on the northwest corner of La Jolla and Executive drives. The property is entitled for a 32-story, 115-unit condominium tower; 15-story, 327-room hotel; 30,000 square feet for science and research facilities; and 20-story, 450,000-square-foot office tower.

As part of the deal, Polygon Shelter has agreed to repurchase for an undisclosed sum the 3-acre site entitled for the 20-story office tower.

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Kimco Realty Corp., a New Hyde Park, N.Y.-based retail real estate investment trust, purchased two retail centers from Wall Street Property Co. of Del Mar for $53.6 million.

The retail centers acquired are Black Mountain Village in Mira Mesa and one in Sparks, Nev.

Pete Bethea of Burnham Real Estate’s Retail Advisory Team acted as adviser of the transaction.

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Buena Altura Apartments on Alturas Road in Fallbrook sold for $960,000. The 10-unit building consists of six one-bedroom units, four two-bedroom units, laundry facilities, storage and 15 parking spots.

The buyer was Manuel Garcia. The seller was Buena Altura LLC. Al Hackman and Chuck Wise of GVA IPC Commercial Real Estate represented the seller and Diana MacKenzie of Golden West Properties represented the buyer.

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Sandakan LLC purchased a 15,100-square-foot industrial building in Booth Business Park at 5075 Ruffin Road for $4.1 million.

Burnham Real Estate’s Matt Kelly represented the seller, Coley Enterprises, and Kelly and Glenn Arnold of Grubb & Ellis|BRE represented the buyer.

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An 8,700-square-foot office building on Duke Street in the Sports Arena area of San Diego sold for $2 million. The property is zoned for dental, medical, office and support retail uses.

The buyer was Duke Street LLC and the seller Alexander Court Properties LP. Charles Currey of GVA IPC Commercial Real Estate represented the buyer in the transaction and Lou Bulte and Jay Dodge of Coldwell Banker Commercial represented the seller.


LEASES

Emerging Information Systems Inc. signed a seven-year lease for 12,800 square feet of office space in Ventana Real, a Class A office development at 2177 Salk Ave. The lease was valued at more than $3 million. EISI develops fully integrated financial software, Internet service and training and support programs.

Tenant improvements have begun and construction should be completed by July 1.

Overall construction of phase one of Ventana Real, a three-story, 82,000-square-foot office building and two-story, 62,000-square-foot building should be completed by June 30.

Mark Avilla, Justin Halenza and Norm Kerlin of Grubb & Ellis|BRE Commercial represented the landlord, Newport National Corp. of Carlsbad, and David Marino of San Diego’s Irving Hughes represented EISI.

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Six tenants signed leases for office space in 610 West Ash, a 19-story high-rise. The six deals totaling 48,000 square feet and $13.3 million in value bring the building to fully leased status.

Pascal Aubry-Dumand, Lynn LaChapelle and Ron Miller with Burnham Real Estate represented the building owners, Glenborough LLC, on lease transactions.

General Services Administration has signed a $6 million lease for 12,000 square feet of space. Jeffrey Ingham and Jessica Kokish of Jones Lang LaSalle represented GSA.

Eset LLC signed a $4.25 million lease for 25,000 square feet of space. Craig Irving of Irving Hughes represented Eset.

Environmental Protection Agency signed a $2.3 million lease for 5,400 square feet of space. Herb Hafter of CB Richard Ellis represented the EPA.

Davis Group – Architecture and Planning signed a $325,000 lease for 2,100 square feet of space. Hans Strom of San Diego-based Strom Commercial Real Estate represented Davis Group.

Public Policy Strategies signed a $250,000 lease for 21,200 square feet of space. Brad Berry of Cushman & Wakefield Alliance represented Public Policy Strategies.

Western Wealth Management signed a $200,000 lease for 1,800 square feet of space and represented itself in the lease transaction.

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KD Nuqui Inc. signed a $600,000 lease for 1,500 square feet of space in Grossmont Trolley Center on Fletcher Parkway in La Mesa. The space was leased from CCRT Properties LP for 10 years and will be used as a Quiznos Sub location.

Kathleen Luci, of San Diego-based Gateway Property Management, represented CCRT in the lease agreement.

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Master Manuals Inc., an Escondido developer of document and information management solutions for homebuilders, signed a 60-month lease for 18,300 square feet of office space in the Via Frontera Complex at 10965 Via Frontera in Rancho Bernardo.

The lease is for an undisclosed sum.

The lessor, The Shidler Group, with an office in San Diego, was represented by Bill Dolan and Chris Pascale of CB Richard Ellis. Master Manuals was represented by Robert Pew and Don Zech of CDC Commercial.

, Michelle Mowad

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