RANCHO CUCAMONGA, CALIF. — San Antonio Regional Hospital has acquired a 127,000-square-foot office building in Rancho Cucamonga for $22.2 million. The building is located at 11000 Eucalyptus St. San Antonio Regional Hospital is an Upland-based regional healthcare provider that will convert the asset into medical office space. Graham Gilles of the Hoffman Company represented the buyer in the transaction. Gary Goodgame, Jeremy Dee and Max Browne of Kennedy Wilson Brokerage represented the seller, Mercury Casualty Co.
Acquisitions
Wilshire Capital Partners Divests of 70,964 SF Vacant Office Building in Irvine, California
by Jeff Shaw
IRVINE, CALIF. — Wilshire Capital Partners has sold a 70,964-square-foot office building in Irvine to an owner-user for an undisclosed sum. The vacant, Class A building is located at 17900 Von Karman in the Irvine Business District (IBD) submarket. The new owner plans to occupy the property after making renovations. Anthony DeLorenzo, Gary Stache, Bryan Johnson, David Dowd and Jennifer Whittington of CBRE represented the seller in the transaction.
NEWBURY PARK, CALIF. — NEXGEN has acquired a 23,919-square-foot industrial life sciences/laboratory facility in Newbury Park for $6.2 million. The facility is located at 3615 Old Conejo Road within the USA Business Park in the Conejo Valley industrial market. Century 21 represented NEXGEN in the transaction. Matt Ehrlich and Marcos Villagomez of NAI Capital Commercial represented the seller, Dao Bui Holdings. Ehrlich and Villagomez spent more than a year on the project, facilitating the lease termination and departure of the former tenant and assisting as de facto property managers.
SIMI VALLEY, CALIF. — NAI Capital Commercial has brokered the $2 million sale of a 5,708-square-foot restaurant building in Simi Valley. Situated within Woodlands Plaza, Cocos formerly occupied the now-vacant property. The new owner plans to open and operate a breakfast restaurant in the space. Michael Schiff of NAI represented both the buyer, SSA California Properties LLC, and the seller, Barsky Family Limited Partnership, in the transaction.
HOUSTON — Locally based brokerage firm Cypressbrook Co. has arranged the sale of Richmond Design Center, a 25,441-square-foot shopping center in West Houston’s Greenway/Upper Kirby submarket. According to LoopNet Inc., the property was built on 1.6 acres in 1958 and renovated in 2003. John Hornbuckle of Cypressbrook Co. and Rick Hazard of Realty Services Group represented the Seller, America Equifinance Corp., in the transaction. Joe Foty of The Blue Ox Group represented the buyer, HRD Interests.
PASADENA, TEXAS — Locally based brokerage and investment firm Baker Katz has acquired a 22,241-square-foot, retail building that sits on a 2.9-acre site at 5445 Fairmont Parkway in Pasadena, an eastern suburb of Houston. The freestanding building most recently housed a Pep Boys auto parts store. Mark Raines of JLL represented the undisclosed seller in the transaction. Ben Brown represented Baker Katz, which plans to implement a value-add program, on an internal basis.
BATTLE CREEK, MICH. — Friedman Real Estate has brokered the sale of Health Park South, a 35,858-square-foot medical office building in Battle Creek, about 25 miles east of Kalamazoo. The sales price was undisclosed. Located at 2845 SW Capital Ave., the property is home to Ascension Borgess Hospital, Bronson Health Internal Medicine and Fresenius Kidney Care. Andrew Bower of Friedman represented the undisclosed buyer.
EAST LONGMEADOW, MASS. — New York City-based ShopOne Centers REIT Inc. has acquired Heritage Park Plaza, a 117,337-square-foot retail property in East Longmeadow, located in Hampden County in western Massachusetts. Grocer Stop & Shop anchors the property, which was 98 percent leased at the time of sale. Other tenants at Heritage Park Plaza include Petco, orangetheory Fitness, Panera Bread, Dollar Tree, Pure Barre, 99 Restaurant & Pub and H & R Block. ShopOne Centers acquired the asset in a joint venture with Pantheon Group and an undisclosed institutional investor. The seller was also not disclosed.
NORTH ATTLEBOROUGH, MASS. — Marcus & Millichap has arranged the $7 million sale of a 48,000-square-foot industrial property in North Attleborough, located outside of Providence in the southern part of the Bay State. The property was built on seven acres in 2006 and features clear heights of 19 to 21 feet, 16 drive-in doors and 68 car parking spots. At the time of sale, the property was leased to tenants such as Tri-Alpha Gymnastics, Fastenal Co., Autopart International and Red Herring Motion Picture Lighting Inc. Harrison Klein and James Manning of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
IRVING, TEXAS — Locally based brokerage firm Wellington Realty has arranged the sale of Cielo Azul, an apartment community in Irving that was originally built in 1985 and totals 320 units, according to Apartments.com. The property offers one- and two-bedroom units and amenities such as a pool, fitness center, business center, playground and outdoor grilling and dining stations. David Shaffer, Caleb Jones, Will Miller and Charles Larkam of Wellington Realty brokered the deal. The buyer and seller were not disclosed.