The Los Angeles Times from Los Angeles, California • Page 170

i C14oc TUESDAY, JUNE 6, 2000 LOS ANGELES TIMES Commercial Real Estate Hispanic Broadcasting Finds New Home DEALS skepticism about its ability to attract tenants is now 99 leased a little more than a year after opening its doors. Rosey T. Miller of Julien J. Studley Inc. represented Hispanic Broadcasting in the search for a larger facility and in negotiations with Glendale Plaza's developers.

CB Richard Ellis' Doug Marlow and Nicole Wilson represented the development team, including Morgan Stanley Real Estate Fund II and Glendale-based Pac-Ten Partners. No financial details of the Hispanic Broadcasting lease were disclosed. However, one of the building's largest recent transactions, also for two upper floors, averaged $31.50 per square foot annually over a 10-year lease term. At a slightly higher rental rate, the Hispanic Broadcasting lease value would be in the range of $25 (101.1) and "love song" specialist KLVE-FM (107.5), which ranked first and third, respectively, in the latest quarterly survey from the Arbitron ratings service. The company, traded on the New York Stock Exchange, recently purchased KACE-FM (103.9) and KRTO-FM (98.3), and also owns KTNQ-AM (1020).

Hispanic Broadcasting now occupies about 20,000 square feet at the Hollywood Vine Plaza office tower in the heart of Tinseltown. But its recent growth created a need for more space to house some 175 employees involved in broadcasting, marketing and administration. The company signed a 15-year lease to occupy about 50,000 square feet encompassing Glendale Plaza's top two floors. The tower a speculative real estate development that had faced some The radio station owner signs a 1 5-year lease for about 50,000 square feet at the newly built Glendale Plaza tower. By BRAD BERTON SPECIAL TO THE TIMES Dallas-based Hispanic Broadcasting which owns two of the Los Angeles market's top three radio stations, will substantially expand and relocate its primary local operations center from a landmark office tower in the heart of Hollywood to the top two floors of the Southland's newest commercial high-rise, the 24-story Glendale Plaza in downtown Glendale.

Hispanic Broadcasting, the nation's biggest owner of Spanish-language radio stations, owns Spanish-language KSCA-FM Xerox Special Information Systems, a unit of Xerox signed a 15-year lease for a build-to-suit headquarters in Huntington Crossing, a commercial and entertainment area in Monrovia. Financial terms of the deal were not released, but it would total about $30 million at prevailing market rates. Christopher K. Cooper of Jones Lang LaSalle represented the Xerox unit. Samuelson Fetter of Monrovia, developer and owner of the new headquarters, represented itself.

Construction is scheduled to begin this month on the two-story building, on a fiacre parcel at 1218 S. Fifth near the 210 Freeway. Murphy Architecture Inc. of Sierra Madre is designing the building as well as a planned addition for future expansion. Gensler Architects Inc.

of Newport Beach will advise Xerox and design the project interiors. XSIS will move about 135 employees from Pasadena to its new headquarters when the building is complete in June 2001. The Los Angeles Unified School District signed a 15-year, $14-million lease for 148,800 square feet of office and warehouse space at 1330 W. Pico Blvd. in Los Angeles.

A. Dwight Hotchkiss of Cushman Wakefield represented both the school district and the landlord, 1330 Pico Associates. Hotchkiss said the school district will use the approximately 88,000 square feet of warehouse space at the site for general storage, with the 60,000 square feet of office space to be occupied by the district's security operations. Beacon Bay Holding of Newport Beach bought the 200-unit Cypress Cove Apartments at 260 N. Midway Drive in Escondido for $12.2 million from Midway 2000 of Encinitas.

Udi Y. Katz of Multi-Housing Realty represented the buyer and the seller. HRW Group bought two free-standing industrial buildings totaling 172,472 square feet at 8708 and 8728 Dice Road in Santa Fe Springs for $.11 million from Dice Road. The buyer was represented by Eric Herold of NAI Capital Commercial and Tom Baaden of Bus Shelger. The seller was represented by Gary Carter and Laird Perkins of CB Richard Ellis.

The law firm of Allen, Matkins, Leek, Gamble Mallory signed a 10-year, approximately $10-million lease for 26,000 square feet on the 18th floor of 1901 Avenue of the Stars in Century City. The landlord, Div-coWest Group, was represented by a CB Richard Ellis team that included Dana Perel, Jeff Pion, Lynn McCarthy and Deron White. Allen Matkins was represented in-house by Tony Natsis and John Tipton. Boone International, a maker of erasable boards, signed a 10-year, $10-million lease for 190,679 square feet of industrial space at Wild Rose Business Park in Corona. Larry Null of Lee Associates represented the landlord, Ridge Properties.

Boone International was represented by Ray Brandt of Brandt Co. Income Property Advisors Inc. bought a building at 21540-21622 Plummer St. in the Chatsworth Tech Center in Chatsworth for about $8.8 million from Lord Baltimore Properties. The buyer was represented by Ron M.

Pelleg of Pacific Equities Group. The seller was represented by Ken Ashen and Bennett Robinson of CB Richard Ellis. Reseda 100, a joint venture of Hanover Financial Co. of Los Angeles and Kennedy-Wilson International of Beverly Hills, sold a 100-unit apartment project at 6425 Reseda Blvd. in Reseda to the Lighthouse Group for about $6 million.

Reseda 100 represented itself. Lighthouse Group was represented by Melinda Russell of Hendricks Partners. Leon Neman acquired a industrial building at 3200 E. Slauson Ave. in Vernon for $3 million from the Burton A.

Burton Family Trust. David Hess of Cushman Waktfield represented the seller. The buyer was represented by Robin Bieker of the Donaty Group. HOT Services Inc. signed a five-year, lease for a industrial building at 760-780 Baldwin Park Blvd.

in Industry. The landlord, Shidler Group, was represented by Marc DiGennaro and Anthony Brent of Lee Associates. The tenant was represented by Erik Larson of Cushman Wakefield. Burke Real Estate Group of Santa Ana sold three buildings totaling nearly 21,000 square feet at its Grade Vista Business Park in Thousand Oaks for $2 million, according to Tony Principe of Westcord Commercial Real Estate Services. Principe and Jim Darin, also of Westcord, represented both Burke and the buyers, Modeno Investments, which acquired two buildings totaling 14,000 square feet, and Marshall Design, an interior design and flooring company that acquired a building.

Valencia Entertainment International, a provider of film and sound stages, has expanded its operations to 175,000 square feet by leasing an additional 52,000 square feet at 28309 Avenue Crocker in Valencia Business Centre, a campus within Valencia Industrial Center. Financial terms of the deal were not disclosed, but it would total an estimated $1.75 million at prevailing market rates. Jim Ebanks of Realty Advisory Group Inc. represented both the tenant and the landlord, Avalon Investment Co. Raytheon Co.

signed a five-year, lease for a warehouse and distribution facility fronting the 91 Freeway at 1253 E. Artesia Blvd. in Carson. Lee Segal of Klabln Co. represented the landlord, Glasgow Knoll.

The tenant was represented by Tom Cherry of Cushman Realty Corp. OH International, a designer and manufacturer of vision implants, signed a five-year, lease for 35,000 square feet of industrial space at 4290 E. Brickell St. in Ontario. Gary Kreft and Mark Kegans of Grubb Ellis represented the tenant.

The landlord, Capital Source Partners, was represented by Scott Ostlund of Lee Associates. Pacific Coast Entertainment a wholesale music distributor, purchased the Dorill B. Wright Cultural Center in Port Hueneme for $1.1 million from the city of Port Hueneme. Jeff Becker of Becker Group represented the buyer. Michael David and David Gladstone of Michael David Co.

Real Estate Services represented Port Hueneme. Historic Pasadena Bank Building Changes Hands Pacific Palisades-based Blue Real Estate Management has acquired the historic Pacific Southwest Trust Savings Bank building at 234 E. Colorado Blvd. in Pasadena for $11.5 million. The eight-story, building on the edge of Old Pasadena was the largest commercial building in the city at the time of its completion in the 1920s, according to Ross Wallach of Diversified Commercial Investments, who represented the buyer along with Douglas Can-cienne of Diversified.

Wallach said that the building, which has been renovated during the last decade, was designed in the renaissance revival style by the architectural firm of Curlett Beelman, with granite, brick and terra cotta exterior and an interior featuring marble, wood and Florentine-style painted surfaces. Blue Real Estate Management acquired the building on behalf of investor clients. The seller, YTC (USA) was represented by William Puget of Cushman Realty Corp. -BOB HOWARD New Look for Fashion Center Mall in Glendale Glendale Fashion Center has almost fully reopened after undergoing a $70-million renovation into an open-air shopping center, according to Jeff Axtell, project director at Phoenix-based Vestar Development which acquired the 35-year-old regional mall in 1997. The shopping center had suffered massive structural damage in the 1994 Northridge earthquake.

Strouds and Barnes Noble opened last month, with Nordstrom's off-price retail division, Nordstrom Rack, scheduled to open June 16. Almost all of the center's restaurants are now open, according to Axtell. The center at Glendale and California avenues has been opening in phases this year. Among the stores that have already opened are Ralphs supermarket, Longs Drugs, Michaels, Staples, Payless Shoes, Famous Footwear and Ross Dress for Less, Vestar also rebuilt the damaged parking structure adjacent to the project, with the help of a grant awarded to the city of Glendale by the Federal Emergency Management Agency. The parking facility is being leased to Vestar by the city.

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Motivated seller. Bkr.800801-1960 6840' nr Glendale. $675K sale 8Cap. wor wout bakery. Multi use, Pkg.

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100 Isd. Auto Zone, Popeye's Subway others. $3,999,999 ProAct Realty 310-792-3700 LAX SALELEASE BOW TRUSS, CONC.29 PKG. Bkr.3t0-390-7722x102 96U in unique hi growth location Call Chris Stone Realty NSTi LOTSACREAGE 99,694 sf Chats sublse. Xlnt.

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NeoRealEstate.com Reded! $3.4 Mil 626-580-4195 ING Owner-User Best Buy! 3sty. Up to 3m Sft. avail to use. Rents avg $1.40. Full serv $625K 3kr 714378 0909 LANCASTER: 044.44 dc 200th E.

Ave BSC. $3M 160 ac 260th St E. 1.25 160ac N.E. corner Ave LS 250th St 120ac nwc Ave and 230th St East. $1M ACTON: 2.57ac Sierra Hwy 500' S.of Crown Valley Rd.

For lease only Owner 760-325-7578 No. Hllywd. Laurel Cyn Saticoy; ret. crnr. $2,440,000 bldg; 48,000 sf lot.

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retofc. Anchors Vons Sav-On. Starting at NNN. Ownr 818 362-9411 or 31 0383-3266 WLA 5Ksf fully equip'd Commissary for Bakery Deli, state apprv'd, loading access, close to 405fwy. $250Krcnt (3101962-5660 Family Trust Orders HotelsMotels IIE Household income Parcel 1 Southeast Corner Pavillions Rite Aid Marshalis Sears Union Bank Blockbuster Payless Shoe Price $15,475,000 Parcel 2 Southwest Corner Kragen Post Tools Little Caesar's Radio Shack Fast Frame Century 21 Price $5,025,000 Parcel 3 Northwest Corner Ross Carl's Jr.

PETCO Block Kimco Price $10,140,000 Parcel 4 Northeast Corner Ortho Mattress Pizza Hut Church's Fried Chicken El Polio Loco Price $5,325,000 Contact: REZA ETEDALI Senior Vice President (949)2504100 ACCELERATED MARKETING DIVISION Todd L. Good, Director 75U BW historic beach city; So. Cal; Ltd.Svc. BW 950 score; 14 CAP 4.1xRm.Grs;$4.95M (bkr)818332-20S6 LI GrubbcEllis Office Building Sale Costa Mesa; 100 Occ; nr. 73, 405 fwys fronts 55 fwv; nr.

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