West Sacramento Purchases 22.19 Acres for Corporation Yard

The city of West Sacramento purchased 22.19 acres of land in the Southport area for a new city corporation yard. Terms of the transaction were not disclosed. The property was sold by Sacramento-based Oates/Ramos/Massie.

The site is located at 2925 Ramco St. The city will be relocating its existing public works facilities, which are currently located along the Sacramento River, so those locations can be used for better uses. Work on the new corporation yard will begin this year with completion slated for 2006.

Herb Grabell, senior vice president of Grubb & Ellis' Sacramento office assisted the city of West Sacramento in the transaction. Jason Greemore of Buzz Oates Cos. represented the seller.

The city is growing tremendously with new homes and businesses, which has created the need for additional city services," Grabell said. "This new city corporation yard will help fill that need."

Jamison Properties Purchases MOB in Santa Ana

Jamison Properties, a Los Angeles-based private investment group, purchased Bristol Medical Center, a 52,311-sq.-ft. medical office building in Santa Ana. The transaction was valued at $7.25 million.

The single-story concrete and steel building, which was built in 1974, is located at 2720-2740 Bristol St. The asset was sold by San Mateo-based Rancon Income Fund.

Kevin Shannon of Grubb & Ellisp South Bay office and Jeff Hanson and Ryan Gallagher of the firm's Newport Beach office represented the buyer and the seller in the transaction.

Mammoth Equities Purchases Saddleback Financial Center in Laguna Hills

Mammoth Equities of Mission Viejo purchased Saddleback Financial Center, a 72,980-sq.-ft. office building in Laguna Hills, from Triple Net Properties of Santa Ana. The transaction was valued at $15.3 million or $210 per sq. ft.

The four-story, Class A office building is located at 24012 Calle De La Plata.

Jeff Hanson, senior vice president, and Ryan Gallagher, associate vice president, with Grubb & Ellis' Newport Beach Institutional Investment Group represented the seller in the transaction.