POMONA, CALIF. — Garey Tech Center in Pomona, a 134,500-square-foot tech facility in Pomona, has sold to an Orange County private investor for $16 million. The center is located at 2771 N. Garey. The space is home to aerospace and defense contractor Hamilton Sundstrand. The contractor is now part of UTC Aerospace Systems, a division of United Technologies Corporation. It has occupied the building as both an owner and tenant since it was built in 1962. The buyer was represented by Clyde Stauff of Colliers, as well as Mike Hartel and Mike Bouma of Voit. The seller, a joint venture between Lincoln Property Company and Morgan Stanley Real Estate Fund, was also represented by Stauff, along with Bret Hardy, Rick Putnam and Tony Phu.
Office
ANN ARBOR, MICH. — Colliers International has arranged the lease of 14,440 square feet for Duo Security in Ann Arbor. The security company will occupy space located at 123 N. Ashley St. Duo Security is expanding and relocating their Ann Arbor office to this location and other multiple spaces. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented the tenant, Duo Security, and the landlord, Wickfield Properties, in the transaction.
SCOTTSDALE, ARIZ. — CBRE has brokered the sale of two office buildings in Scottsdale totaling 223,131 square feet for a combined $44.2 million. The properties include the 106,931-square-foot Scottsdale Gateway I, which is located at 9201 E. Mountain View Road; and the 116,200-square-foot 92 Mountain View, which is located at 10001 N. 92nd St. Constructed in 1998, Scottsdale Gateway I is a two-story, Class A facility that was 91 percent leased to five tenants at the time of the sale. Built in 1996, 92 Mountain View is also a two-story, Class A facility and is fully leased to CVS Caremark. Barry Gabel, Chris Marchildon, Kevin Shannon, Ken White and Michael Moore of CBRE represented the sellers, TR Scottsdale Gateway I Corp. and TR 92 Mountain View Corp., in the transaction. Jenifer Ratcliffe, Erin Curry and David Krumwiede of LPC Realty Partners Ltd. also assisted in the transaction. Equus Capital Partners purchased the two assets and has retained CBRE to manage the properties. Bryan Taute of CBRE will lease the buildings.
CARSON, CALIF. — NAI Capital has brokered the sale of a 50,078-square-foot flex property in Carson for $7.3 million. Constructed in 1972 and renovated in 2002, 2009 and 2012, the structure features a mix of office, conference and open/bullpen space, as well as heavy power and ground-level loading capabilities. Located on 3.1 acres at 16941 Keegan Ave., the facility is in proximity to the 91, 110 and 405 freeways. Timec Co. Inc., a provider of asset management, maintenance and small project services for the energy and food industries, fully occupies the facility on a triple-net basis. Ryan Campbell of NAI Capital, along with Tony Naples of Lee & Associates, represented the buyer, a private investor. Colliers International represented the seller, Microtek Inc.
SAN DIEGO — Colliers International has brokered the sale of the Torbati Building, a 223,000-square-foot office tower in downtown San Diego. Constructed in 1925, the 14-story building is located at 625 Broadway. Tim Cowden of Colliers represented the buyer, 625BWSD9 Owner LLC, which is a partnership formed by Hammer Ventures, a locally based real estate development company. The seller, 625 Broadway Holdings LLC, had no representation in the transaction.
MISSION VIEJO, CALIF. — Avison Young has brokered the sale of HighPark Corporate Center, a 37,579-square-foot office building in Mission Viejo, for $6.7 million. Built in 1986, the two-story, Class A structure is situated on nearly two acres at 23351-23361 Madero, within the 112-acre, master-planned HighPark business park. The property was 93 percent leased at the time of the sale, and Holt Integrated Circuits was the largest tenant, occupying 58 percent of the facility. Dan Vittone and Alan Pekarcik of Avison Young, along with Trent Walker of Voit Real Estate services, represented the seller, Madero LLC & Wyocal LLC. Bratun Real Estate represented the buyer, CK HighPark LLC, which completed a 1031 tax-deferred exchange. The sales price reflects a cap rate of 7.25 percent.
SCHAUMBURG, ILL. — NAI Hiffman has arranged the lease renewal of a 13,700-square-foot office space in Schaumburg, located in northwest suburban Chicago. Mitsubishi Materials will occupy space at 1300-1320 N. Plum Grove Road. Los Angeles-based Mitsubishi Materials is a manufacturer and supplier of cutting tools for the metalworking industry. Mitsubishi’s Schaumburg location houses the firm’s marketing, sales, and engineering office. The company has been located at its Schaumburg property for more than five years. Michael Flynn and Jason Wurtz of NAI Hiffman represented the landlord, Sun Life Assurance Co. of Canada, in the transaction. Tak O’Haru of White Cube LLC represented Mitsubishi Materials.
FARMINGTON HILLS, MICH. — NAI Farbman has arranged the lease of a 14,240-square-foot office building in Farmington Hills for Schneider Resources Inc., a national provider of truckload, logistics and intermodal services. Schneider will occupy space in the 696 Centre located at 27555 Farmington Road. 696 Centre is a 266,000-square-foot, newly renovated Class A office building that features a full-service gym and cafeteria. Schneider Resources plans to utilize the space as a regional corporate sales office. Ninety employees will work out of Schneider’s new location. Jeff Cavazos and Laney Cavazos of NAI Farbman represented the tenant. Farmington Road Office Building LLC is the landlord.
SCHAUMBURG, ILL. — CBRE has arranged the lease of a 10,681-square-foot office space in Schaumburg for Trelleborg Sealing Solutions, a global supplier of polymer-based critical sealing solutions. The company will occupy space in the Woodfield Preserve Office Center located at 20 N. Martingale Road. The firm is relocating its Midwest sales office from a site in Hanover Park, Ill. Bill Saviski of CBRE represented Germany-based Trelleborg Sealing Solutions in the transaction. Rob Graham of CBRE represented the landlord.
PALO ALTO, CALIF. — Cohen Financial has arranged a $29.8 million loan for the refinancing of a 50,000-square-foot office building in Palo Alto. Located at 130 Lytton Ave., in proximity to Palo Alto Caltrain station, the four-story structure is fully leased to Amazon subsidiary A9. Paul Schroeder of Cohen Financial originated the fixed-rate, seven-year loan through Sun Life of Canada. According to the Silicon Valley Business Journal, Rockwood Capital purchased the asset in November 2013.