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PennWell leases in Regents Park

Leasing Notes are updated twice weekly and are now available in a fully searchable database format at www.sddt.com/databases/leasingnotes/.
Office: PennWell Corporation has leased 4,994 square feet of office space at Regents Park Financial Centre, 4180 La Jolla Village Drive, La Jolla 92037, from Regents Parks UTC LLC. The property, leased for 65 months at $815,000, will be used for general office functions related to a publishing company.

The lessee was represented by Mitch Clawson and Steve Rosetta, of Cushman & Wakefield. The lessor was represented by Eric A. Northbrook and Chris High, also of Cushman & Wakefield.

Regents Parks UTC, a joint venture of BCL Inc. of San Diego and Fargo Investments LP, acquired the five-story, 95,811-square-foot Regents Park Financial Centre in UTC (University Towne Centre) at the end of 2012 for $28.95 million.

BCL's principals are Paul LeBeau, Casey Brown and Steve Bollert.

Currently, the property is 93 percent leased.

In late 2011, TEK Systems Inc. renewed its lease on 9,677 square feet of office space for five years at $1.4 million.

TEK in early 2006 leased 9,677 square feet for 64 months at $1.76 million.

Earlier in 2011, Lavine, Lofgren, Morris and Engelberg leased 13,854 square feet for 98 months at $2.7 million.


Warehouse: Dent Wizard has leased 20,680 square feet of warehouse space at 8225 Mercury Court, San Diego 92111, from Bevash Trust.

The property was leased for 36 months at $486,000.

The lessee was represented by Josh Burland, of Burland Commercial. The lessor was represented by John McColl, of Trinity Capital Group.


Industrial: BSD Builders has leased 7,973 square feet of industrial space at 8825 Recho Road, San Diego 92121, from RE Hazard Contracting Company.

The property, leased for 24 months at $166,000, will be used for contracting and construction services.

The lessee was represented by Kyle Clark, of Cushman & Wakefield. The lessor was represented by Dean Asaro, of Cassidy Turley San Diego.


Retail: Ming Tran and Binti Wu, dba Top Ten Oriental Restaurant, have leased 1,150 square feet of retail space at Campus Plaza, 6165 El Cajon Blvd., Suite 1-A, San Diego, 92115, from Russo Properties Ltd. The property was leased for three years at $133,316.

The lessee represented itself. The lessor was represented by Bill Thaxton and Stewart Keith, of Flocke and Avoyer Commercial Real Estate.


Retail: Flight Mechanics has leased 1,470 square feet of retail space at The Shops at Scott Road, 27762 Scott Road, Menifee 92584, from Spathco.

The property, leased for three years at $75,411, will be used for a martial arts studio.

The lessee and lessor were represented by Brian G. Pyke, of Duhs Commercial.


Retail: Chris Youngblood has leased 950 square feet of retail space at 2750 Auto Park Way, Escondido 92029, from Smiser San Diego LLC. The property was leased for 60 months at $46,000.

The lessee was represented by Conor Boyle, of Colliers International. The lessor was represented by Kipp Gstettenbauer, of Cushman & Wakefield.


Editor's Note: Leasing Notes for publication must contain the names of the lessee and the lessor; address (including street name and number, city and zip code); square footage; length of lease; lease terms such as NNN; financial consideration; proposed use of space (if not evident from name of lessee); and the names of brokers and their firms representing both the lessee and the lessor.

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