Law Firm Signs 10-Year Lease, Expands Space in KPMG Tower

Law firm McCutchen, Doyle, Brown & Enersen renewed its lease and expanded its space by one-half to occupy a total of 76,470 square feet in KPMG Tower at 355 S. Grand Ave. in Los Angeles. The 10-year lease is valued at approximately $25 million. Clay W. Hammerstein and Stephen L. Bay of Insignia/ESG represented the tenant. Landlord Maguire Partners was represented in-house by Tony Morales and Pat McRoskey.

Regent Properties Inc. bought a nine-building portfolio of apartment complexes totaling 195 units for approximately $19 million from the William H. Hannon 1983 Trust. The buildings are located east of Pershing Drive, just south of Manchester Avenue in Playa del Rey. Albert R. Shilton of Charles Dunn Co. represented the seller. Craig Stevens of Kosmont Realty Corp. and Jose Fein and Tom Spear of Property Management Associates represented the buyer.

F&F; Placentia Associates, a Burbank-based real estate syndicate, purchased a 103,789-square-foot office complex at 701-781 Kimberly Ave. and 600-660 S. Placentia Ave. in Placentia for $11.1 million from IRP Muller Associates of Laguna Hills. Kevin Shannon and Jon Swallow of Grubb & Ellis represented the buyer and the seller.

Westwood-based Cypress Land Co. purchased 18.62 acres of land at the Conejo Spectrum Business Park in Thousand Oaks from Los Angeles-based Investment Development Services and plans to build a 300,000-square-foot speculative project, including industrial and research and development space at the site, according to Brian Harvey, founder and general partner of Cypress Land. The principals did not disclose the purchase price, but industry sources said it was about $9 million. Cypress expects to begin construction early next year on the project at Conejo Spectrum Drive and Rancho Conejo Boulevard. The buyer and seller were represented by John DeGrinis of Colliers Seeley International.

Los Angeles-based Hanover Financial Co. and Santa Monica-based JSM Construction Co. have formed a joint venture called JSM Palermo that will build 32 apartment units, 12,000 square feet of office space and 9,000 square feet of retail space on two parcels at the southwest corner of Green Street and South Fair Oaks Avenue in Old Pasadena, said Michael H. Lowinger, a managing partner of Hanover. The cost of developing the project was not disclosed, but industry sources estimated development costs at about $8 million, including the $2.1 million JSM Palermo paid for the land it acquired from the Ward Family Trust.

MB Investment, a Calabasas-based private investment group, purchased an 85,300-square-foot office building at 2 Coral Circle in Monterey Park for $6.5 million from Pacifica/Arka/Monterey Park LLC of Marina del Rey. Kevin Shannon of Grubb & Ellis represented the buyer and the seller.

EnPointe Technologies signed a five-year, $5.2-million lease for 36,090 square feet of office space at Pacific Corporate Towers, 100 N. Sepulveda Blvd. in El Segundo. Eric Lastition and Geoff Ludwig of Colliers Seeley International represented the tenant. Grafton Tanquary of CB Richard Ellis represented the landlord, Pacific Corporate Towers LLC.

J&A; Investments bought the 36,877-square-foot Greenleaf Square office building at 7200 Greenleaf Ave. in Whittier for $4.3 million from Greenleaf Equities. Mike Austin and Ken Lai of Sperry Van Ness represented the buyer. The seller was represented by Mike Lawrence of Marcus & Millichap.

Newport Apparel Co. purchased a 57,664-square-foot industrial building at 1215 E. Walnut St. in Compton from Bloomfield, Conn.-based Kaman Music Corp. for $3.3 million and has relocated from Paramount. Brian Held and Dennis Ingram of Grubb & Ellis represented the seller. James Kong and Andrew Kim of JM Commercial represented the buyer.

Conexant Systems of Newport Beach bought a 43,600-square-foot industrial building at 711 Mitchell Road in Thousand Oaks from the Stone Family Trust for $3 million. John DeGrinis of Colliers Seeley International represented the buyer. The seller was represented by Jack Dwyer of NAI Capital Commercial.