REBusinessOnline

MIG Real Estate Purchases 209-Unit Apartment Complex in Mesa, Arizona

MESA, ARIZ. — MIG Real Estate has acquired the 209-unit Trails at Harris Apartments in Mesa for $22.1 million. The community is located at 1653 S. Harris Drive. Trails at Harris Apartments was built on nearly 10 acres in 1983. All units include all-electric kitchens, walk-in closets, standing showers and linen closets. Outdoor balconies or patios and stackable washer and dryers are available in select units. The apartments are a value-add opportunity for MIG. Interior renovations will …

R.D. Olson Construction Completes $120M Marriott Hotel in Irvine, California

IRVINE, CALIF. — R.D. Olson Construction has completed the $120 million Irvine Spectrum Marriott hotel. The 271-room property is located at 7905 Irvine Center Drive. The Irvine Spectrum Marriott offers more than 9,000 square feet of indoor meeting facilities in up to seven room configurations. The 15-story building has one of the highest and largest rooftop lounges in Orange County with a full-service bar and 360-degree

Marcus & Millichap Arranges $10.3M Sale of Two-Story Retail Property in Los Angeles

LOS ANGELES — Marcus & Millichap has arranged the $10.3 million sale of La Brea Sunset Plaza, an 18,297-square-foot retail property in Los Angeles. Mike Malick and Aria Pournazarian of Marcus & Millichap arranged the transaction on behalf of the undisclosed seller and buyer. The two-story property was fully leased at the time of

MCA Realty Buys 137,465 SF Industrial Building in Moorpark, California

MOORPARK, CALIF. — MCA Realty has purchased a 137,465-square-foot industrial property in the Ventura County city of Moorpark. The two-building complex is located at 14399 and 14401 Princeton Ave. One of the buildings is leased to turbocharger manufacturer Turbonetics

Dollar General to Expand Distribution Operations by 240,000 SF Near Bakersfield

TEJON RANCH, CALIF. — Dollar General has expanded its presence at Tejon Ranch Commerce Center (TRCC) just south of Bakersfield with the addition of more than 240,000 square feet of warehouse space. The dollar store currently operates out of a separate building at TRCC. This expansion will allow retailer to increase its footprint by nearly 40 percent. Dollar General has used the Tejon Ranch Commerce Center as the hub of its California distribution operations for the last six years. With its …

Henley USA, Tower 16 Capital Partners Launch New Multifamily Brand in Las Vegas

LAS VEGAS — A partnership between Henley USA and Tower 16 Capital Partners has created Altura, a new brand of multifamily apartment communities in Las Vegas. The initial property under the new brand will be called Altura on Duneville and feature 228 apartments. A second property acquisition will be announced in May, with plans for additional acquisitions later this year. Each Altura property will be renovated to bring a modern, contemporary look and upgraded amenities to the community. Every …

Cushman & Wakefield Negotiates $22.9M Sale of Retail Property in West Hollywood

LOS ANGELES — Cushman & Wakefield as arranged the $22.9 million sale of a retail property located on Melrose Avenue in West Hollywood. Kazuko Morgan and Carine Mamann of Cushman & Wakefield arranged the transaction on behalf of the buyer, a joint venture between L3 Capital and Guggenheim Real Estate. David Ickovicks of Commercial Asset Group represented the seller, American Commercial Equities. The 11,295-square-foot property includes 18 parking spaces and is home to Theory, DASH …

MJW Investments Acquires Student Housing Community Near Arizona State

TEMPE, ARIZ. — MJW Investments has acquired ReNUE on Orange, a 110-unit student housing community located near Arizona State University in Tempe. The price was not disclosed. The property offers one- and two-bedroom units with shared amenities including a swimming pool, sundeck and courtyard. The company plans to make improvements to the property, including upgrading unit interiors and common areas, addressing deferred maintenance issues and rebranding the property as “Thrive Tempe,” …

Gild Property Group Brokers $4.3M Sale of Retail Building in Southern California

SAN DIEGO — Gild Property Group has arranged the $4.3 million sale of a retail building located at 1065 5th Ave. in San Diego. Tony Gild of Gild Property Group arranged the transaction on behalf of the seller, Maman Family Trust. 1065 5th Avenue LLC acquired the 20,000-square-foot

Location Matters Arranges $1.9M Sale of Vacant Restaurant Building in San Diego

SAN DIEGO — Location Matters has arranged the $1.9 million sale of a restaurant building located at 5351 Adobe Falls Road in San Diego. Davles LLC, an affiliate of Cohn Restaurant Group, acquired the 5,485-square-foot building, which was vacant at the time of sale. Mike Spilky of Location Matters arranged the transaction on behalf of the seller, L&L Acquisitions LLC. The building was constructed in the 1950s and originally housed Nicolosi’s Italian Restaurant. The former owners …