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TODAY'S REGIONAL NEWS - West


WEST

PENTA TO BUILD $42 MILLION SCHOOL FACILITY
RENO, NEV. — The PENTA Building Group has been awarded the contract to construct the $42 million Davidson Mathematics and Science Center at the University of Nevada, Reno. Located on the southeast corner of the campus, the 105,000-square-foot facility will feature a 14,000-square-foot auditorium, a new dean’s office, chemistry and biology laboratories, state-of-the-art classrooms and major site improvements. Designed by Hershenow and Klippenstien, the project is slated for completion in December 2009.


COVEWOOD MANOR ACQUIRES 62,438-SQUARE-FOOT INDUSTRIAL BUILDING
EVERETT, WASH. — Los Angeles-based Covewood Manor LLC has acquired a 62,428-square-foot, Class A industrial building, which is located at 830 and 834 80th St. in Everett, for $8.85 million. At the time of acquisition, the property was fully occupied by triple-net tenants such as Diabold and Tyco. Barry Rothstein of NAI Capital’s Encino, Calif., office represented the buyer; Richard Peterson of NAI Puget Sound Properties represented the seller, Sound Venture Nine LLC, in the transaction.


NBS ARRANGES $11.3 MILLION LOAN FOR INDUSTRIAL/WAREHOUSE FACILITIES
CLACKAMAS, ORE. — Todd Harding and Blake Hering Jr. of NBS Financial represented both the lender and the borrower on the financing of a $11.3 million loan for two buildings at Clackamas Commons. Located at 12480-82 SE Capps Rd., the buildings total 145,300 square feet. The borrower, Clackamas Commons II LLC, received a 72 percent loan-to-value ratio on a 5-year term, 30-year amortization loan, which was provided by State Farm Bank FSB.


 PENNBRIDGE CAPITAL ACQUIRES 107-ROOM HOTEL PROPERTY
GUNNISON, ORE. — Pennbridge Capital has acquired the Holiday Inn Express Hotel & Suites in Gunnison from Teco Corp. for an undisclosed price. Located on Tomichi Avenue, the hotel, which was built in 2006, offers 84 standard rooms and 23 suites. Josh Lewis of Lee & Associates LA North/Ventura Inc. was the sole broker involved in the transaction and arranged the acquisition on behalf of the buyer.




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