LOS ANGELES — Rexford Industrial Realty has purchased a 1.2 million-square-foot industrial facility in the South Bay submarket of Los Angeles for an undisclosed sum. The facility is located at 20001-20021 Rancho Way and 2301-2399 E. Pacifica Place in Rancho Dominguez. The master-planned park was built between 1987 and 1989. It includes five industrial buildings and one flex building, each residing on its own parcel. Known as Rancho Pacifica Park, the facility was 99 percent leased at the time of sale. Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Nico Napolitano of Cushman & Wakefield represented the seller in this transaction.
SAN FRANCISCO — Bridgeton Holdings has sold The Pioneer Building, a 37,104-square-foot office building in San Francisco’s Mission District, to American Realty Advisors for $34 million. The building is fully leased to Musk Industries, a venture backed by Elon Musk. The new lease with Musk Industries is for a 10-year term with space delivered in “as-is” condition. NKF’s Kyle Kovac, Michael Taquino and Daniel Cressman represented Bridgeton Holdings in this transaction.
LA MESA, CALIF. — Anchor Health Properties has purchased Fletcher Parkway Medical Center, an 82,024-square-foot medical office building in the San Diego suburb of La Mesa, for an undisclosed sum. The building is situated adjacent to Sharp Grossmont Hospital, just north of the Interstate 8/California 125 interchange. Sharp HealthCare anchors the center. The asset features services like Surgical Care Affiliates (SCA) surgery center, radiology, laboratory, diagnostics, cardiology, pediatrics, ophthalmology, rehabilitation and hospice. HFF’s Evan Kovac, Andrew Milne and Trent Jemmett represented the seller, The Abbey Company, in this transaction.
GRESHAM, ORE. — Capital One has provided a $12 million fixed-rate HUD 232/223(f) loan to refinance Regency Gresham, a 128-bed skilled nursing facility in the Portland suburb of Gresham. Regency Gresham was built in 1960 and expanded in 1976. The owners recently converted four-person rooms and semi-private rooms to private ones. The sponsors will use proceeds of the loan to extend their renovation program to other areas of the facility, modernize the building’s infrastructure, improve common area appearance, and enable additional therapy services. Joshua Rosen originated the transaction.
SAN DIEGO — An undisclosed buyer has acquired the 63-room Rodeway Inn San Diego for $7.5 million. The hotel is located at 5399 Adobe Falls Road, near Qualcomm Stadium. Joshua Yammer, Sarhan Mheni and Walter Brauer of Marcus & Millichap represented the seller, a partnership, in this transaction.
COLLEGE PARK, GA. — BMW will develop a new technical training center on the Georgia International Convention Center (GICC) campus in College Park, roughly two miles from Hartsfield-Jackson International Airport. The facility will span 4.1 acres and will bring approximately 10,000 BMW professionals annually for corporate training. The BMW training facility joins other new developments in College Park including ThePad on Harvard, a multifamily community; the expansion of the Federal Aviation Administration Region IV Headquarters; the creation of a multipurpose arena at the GICC that will become the future home of the Atlanta Hawks Development League team; and plans for expansion of the Chick-fil-A corporate headquarters.
FREDERICKSBURG, VA. — ARA Newmark has arranged the $100.5 million sale of two Class B apartment communities in Fredericksburg: the 200-unit Madison Falls Run and the 476-unit Madison England Run. Centrally located between Richmond, Va., and Washington, D.C., the properties were acquired by Newport News, Va.-based Chandler Management. Drew White, Mike Marshall and Jim Pope of ARA Newmark represented the seller, Philadelphia-based Equus Capital Partners, in the transaction. Constructed in 1989, Madison Falls Run includes a mix of one- and two-bedroom floor plans. Madison England Run, built in three phases in 1991, 1999 and 2001, features a mix of one-, two- and three-bedroom units. Together, the portfolio features amenities including a swimming pool, fitness center, tennis courts and sundecks. Both properties were 95 percent occupied at the time of sale.
CUTLER BAY, FLA. — Marcus & Millichap has brokered the $30 million sale of Cabana Club, a 332-unit, Section 42 Low Income Housing Tax Credit community for seniors in Cutler Bay, roughly 20 miles south of Miami. The independent living community features a pool, fitness center and a clubhouse. Evan Kristol and Felipe Echarte of Marcus & Millichap represented the seller, a New York-based investment group, and procured the undisclosed buyer.
JONESBORO, GA. — Big V Capital LLC has purchased Crossroads South, a 207,404-square-foot shopping center located at 7965 Tara Blvd. in Jonesboro, roughly 17 miles south of Atlanta. The center was 91 percent leased at the time of sale to tenants including Kroger, Badcock Furniture, Planet Fitness, Roses, Subway, UPS and H&R Block. Big V Properties, the property management affiliate of Big V Capital, will manage the retail center. The sales price and seller were not disclosed.
MARIETTA, GA. — Ziff Properties Inc. has acquired Burnt Hickory Village, a 56,640-square-foot retail center located in Marietta, roughly 20 miles north of Atlanta, for $8.7 million. Robby Pfeiffer of Marcus & Millichap facilitated the transaction. The seller was not disclosed. Chicken and the Egg, a farm-to-table restaurant, is housed in the center.