It’s taken two years, but a homebuilder has finally consolidated some 32 acres of land and plans to build two residential communities. John Laing Homes acquired the Simi Valley property from 31 separate owners holding 18 parcels some vacant and some occupied for the construction of two planned communities with 200 single-family homes. The first community, Crossroads, will consist of 104 homes ranging in size from 1,937 square feet to 2,630 square feet. Homes in the Crossroads project will sell in the high $200,000 range. The second development, known as Milestone, will include 96 homes ranging from 1,795 square feet to 2,036 square feet that will sell in the mid-$200,000 range. John Laing’s parent company, WL Homes, acquired properties from Lennar Homes, which, in turn acquired sites from West Venture Homes, according to Gary Seaton, a broker with NAI Capital Commercial, who, along with Patti Felker of Oro Vista Realty represented the buyers and the sellers. Terms of the sale were not disclosed. Tarzana Sale A 10-story office building in Tarzana sold for $7.4 million. The 80,482-square-foot building at 18321 Ventura Blvd. was acquired by Tarzana Tower and TOIBB Enterprises. The new owners plan to renovate the class-A building, which sits on a two-acre parcel. Brian Forster and Lisa Louis of Told Partners represented buyers in the deal. Gift Firm Makes Deal A San Fernando Valley giftware company has acquired a 40,000-square-foot distribution and warehouse facility in Sylmar for $2.2 million. JIJ Design Inc., which distributes ceramic vases, sculptures and candelabras, will be relocating to the facility at 1288 Bradley Ave. from Sun Valley. The move reflects a doubling of its space capacity. The new headquarters will include 6,000 square feet of office space, along with parking for 80 cars. Ross Thomas at Delphi Business Properties represented JIJ Design, which acquired the property from Michael Siegel. ReMax Goes Commercial ReMax on the Boulevard has capped a six-month expansion into the commercial real estate market with a move into larger quarters. The residential brokerage has expanded into the second floor of its current Sherman Oaks site to accommodate 25 new agents handling apartment building investment sales. Jay Belson, owner of the brokerage, said the move into the commercial sector began when several brokers specializing in apartment sales joined the firm about six months ago. Through word of mouth, other brokers began to come on board. The brokerage has completed 368 apartment transactions since the launch of the commercial business, Belson said. Answer for Growth Answer Financial Inc., which operates an online insurance company, www.answercenter.com, subleased 28,000 square feet of office space in Encino to accommodate its growing needs, said Mike Catalano, managing director of the Los Angeles office of Julien J. Studley Inc., who represented the tenant in the deal. “Like many e-businesses, Answer Financial has experienced explosive growth over a very short period of time, forcing them to reevaluate their office requirements,” Catalano said. The new space at 15910 Ventura Blvd. was formerly occupied by Pinkerton Securities, which is subleasing the site after a move last year to Thousand Oaks. Answer Financial will move into the sixth and 14th floors of the building. Pinkerton was represented by Allen Trowbridge of Jones Lang LaSalle. Woodland Hills Sale A Los Angeles real estate investor has purchased an office and retail complex in Woodland Hills for $6 million. Royal Investors Group acquired The French Quarter complex, totaling 56,314 square feet, as a leased investment. The property at 20969 Ventura Blvd. currently houses three restaurants, Mo’s, Goia and Nicola’s, along with Rainmaker Advertising and other tenants. Bert Abel and Tom Festa with Grubb & Ellis represented the buyer and seller, WHCLA Real Estate Limited Partnership, in the transaction. Glendale Lease Liberty Mutual Insurance Co. leased 31,582 square feet of office space at 225 West Broadway Blvd. in Glendale to accommodate the expansion of its workers’ compensation, commercial and personal insurance operations. Seth Dudley and David Kimball at Julien J. Studley Inc. represented the tenant. The landlord, Layton-Belling Associates, was represented by Brad Feld of Cushman & Wakefield. Surgical Strike Doctors Surgery Center of Westlake leased 5,145 square feet of medical and office space in Moorpark. The seven-year lease is valued at $1.2 million. The site is located at 339 South Moorpark Road within Los Robles Professional Park, a seven-building complex that covers five acres. Cheryl Richmond and Corbett Richmond of NAI Capital Commercial represented the landlord, Los Robles Office Partners. Tamir Oheb represented the leaser. Staff reporter Shelly Garcia can be reached at (818) 710-2731, ext. 4316, or at [email protected].
