Allianz of America Buys Warehouse

Allianz of America Inc. acquired a 755,137-square-foot warehouse and distribution building at 4250 Hamner Ave. in Mira Loma from Pacific Newport Properties Inc. Terms of the transaction were not disclosed, but real estate industry sources estimated the purchase price at nearly $29 million. The building is 100% occupied by Wal-Mart Stores Inc., said Kent Hindes of Cushman & Wakefield, who represented the seller with Heidi Phillips and David Hasbrouck, also of Cushman & Wakefield. Westport, Conn.-based Allianz represented itself.

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El Segundo-based Summit Commercial Properties Inc. acquired the six-story, 88,215-square-foot Marina Corporate Centre at 12655 W. Jefferson Blvd. in Los Angeles from Irvine-based Legacy Partners for $17.6 million. Michael Ross, Craig Meyer and Steve Solomon of Colliers Seeley International represented the buyer and the seller.

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Tustin-based Scantron Corp. signed a 10-year $13.7-million lease to occupy 110,000 square feet of a 126,000-square-foot building at the Irvine Spectrum. About 300 of the firm’s 600 employees worldwide will be housed at the new facility, according to Jeffrey Chiate of Cushman & Wakefield, who with Rick Ellison represented Scantron. The landlord, Northwestern Mutual Life Insurance Co., was represented by Trent Walker and Sam Olmstead of Voit Commercial Brokerage.

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Volkswagen of America Inc. signed a 10-year $12.4-million lease with landlord ProLogis for a 332,095-square-foot build-to-suit warehouse at 3095 Cedar St. in Ontario, which will be used to distribute Volkswagen and Audi parts throughout the West Coast. Phil Lombardo of Trammell Crow Co. represented Volkswagen. ProLogis, a real estate investment trust that specializes in distribution facilities, was represented in-house by Allen Jackel.

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Victoria Realty Investors bought a 119,576-square-foot business park at 105-161 Victoria St. in Long Beach from AP Victoria for $10.2 million. Mike Hefner of Voit Commercial Brokerage represented the buyer and the seller.

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A joint venture of Irvine-based CIP Real Estate and an investment fund of Alex Brown Realty Inc. acquired the 157,701-square-foot, 12-building Milliken Business Center at Milliken Avenue and Lowell Street in Ontario from Northwestern Mutual Life Insurance Co. for about $9.5 million. CIP Real Estate represented itself. Jerry Nourse of CB Richard Ellis represented the seller.