LOS ANGELES — Tishman Speyer has purchased a 1.7-acre creative office campus in downtown Los Angeles’ Arts District for an undisclosed sum. The campus is situated along the Los Angeles River at Bay and Sacramento streets. The site features the 38,000-square-foot world headquarters of transportation technology company Hyperloop One. The campus is near the new SoHo House location, just two blocks from Warner Music Group’s new West Coast headquarters at the Ford Factory. The seller was Lion Real Estate Group and the Borman Group.
CONCORD, CALIF. — A joint venture between Long Market Property Partners LLC and Paragon Commercial Group LLC has acquired Shops at Todos Santos, a full city block of retail located in downtown Concord, for an undisclosed price. The 40,000-square-foot property is fully occupied by tenants including Peet’s Coffee, The Old Spaghetti Factory, CREAM Inc., Capriotti’s, Bollinger Nail Salon, Naan ’n’ Curry, Half Price Books and Chevron. Forrest Gherlone, Mike Zylstra, Keith Marr and Zachary LeBeouf of Newmark Cornish & Carey handled the disposition on behalf of the seller, an undisclosed private family.
SAN DIEGO — NAI San Diego has arranged the sale of a retail/office property located at 2176-2180 Chatsworth Blvd. in San Diego’s Ocean Beach/Point Loma neighborhood. Fig Tree LLC acquired the 10,000-square-foot property from Wilson Trust for $2.2 million. Built in 1943, the property is currently occupied by a gym/martial arts studio, an English-style tea shop, an acupuncturist, nail and hair salons, a real estate office and a residential unit on the upper floor. Michael Glickstein of NAI San Diego represented the seller in the transaction.
CHICAGO — KIG has brokered an $86 million portfolio sale of six vintage office buildings and three land sites in downtown Chicago. R2 Cos. purchased the properties, located throughout the West Loop, Greektown, River North and Printers Row. Built between 1883 and 1904, the properties are collectively 90.8 percent occupied, with an average of 3.9 years remaining on existing leases. The properties included the Pontiac Building; 118 S. Clinton St.; 130 S. Jefferson St.; 901 W. Jackson Blvd.; 641 W. Lake St. and 445 W. Erie St. The land sites included are Randolph/Desplaines, 708 W. Wayman St. and Peoria/Green. Susan Tjarksen of KIG represented the seller, Chicago-based Loft Development Corp.
CHICAGO — Baker Development Corp. has begun construction on ELEVATE Lincoln Park, a mixed-use luxury apartment building in the heart of Lincoln Park. A groundbreaking ceremony was held on Nov. 1. The former Lincoln Centre complex was demolished for the new project, which consists of 191 apartments on top of 16,300 square feet of retail space located at 2518-36 N. Lincoln Ave. Residents will be able to choose from a wide array of floor plans. The first move-ins are scheduled for late 2017. The project is the first luxury apartment building and transit-oriented development (TOD) on Lincoln Avenue. SCB is the architectural firm and McHugh Construction is the general contractor. Financial partners include USAA, Fifth Third Bank, First Midwest Bank and FirstMerit Bank/Huntington National Bank. Luxury Living Chicago Realty is the exclusive leasing brokerage.
WOODSTOCK, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 13,915-square-foot multi-tenant retail center in Woodstock for $1.8 million. The retail center is located at 11620 Catalpa Lane. The property is 80 percent occupied by national and regional tenants including Great Clips, Benjamin F. Edwards & Co., Anytime Fitness and Lucky Bernie’s. Chad Firsel of Quantum Real Estate Advisors represented the seller, a Chicago-based investment group. A private real estate investor based in the northern suburbs of Chicago was the buyer.
DES PLAINES, ILL. — Bradford Allen Realty Services has arranged a 12,096-square-foot office lease renewal at 999 E. Touhy Ave. in Des Plaines, a suburb of Chicago. Precision Research, a data collection company, moved into the building in 2004 and will be occupying the space for three more years. 999 East Touhy is a 145,000-square-foot Class B building. Other tenants include Emergency24 and Sterno Group. Joel Berger of Bradford Allen represented Precision Research in renewing the lease. Janet Mrowka of Siete 7 LLC represented 999 East Touhy.
ST. LOUIS, MO. — Hilliker Corp. has brokered the sale of a 5,000-square-foot retail property at 1716 S. Broadway in the Soulard area of St. Louis for $400,000. Grateful Pets purchased the property for its daycare facility, pet training area and grooming room. Rebecca Suen of Hilliker Corp. represented the buyer. Dan Lesinski and Brandon Wappelhorst of Sansone Group represented the seller, 1716 S. Broadway LLC.
BOSTON — CBRE/New England has arranged the sale of Rockingham Glen, an affordable apartment community located in Boston’s West Roxbury neighborhood. Beacon Communities acquired the 143-unit property for an undisclosed sum. Built in 1974, the community features one studio apartment, 94 one-bedroom units and 48 two-bedroom units, with an average size of 786 square feet. Simon Butler and Biria St. John of CBRE/NE represented the seller and procured the buyer in the deal.
SAN ANTONIO — Dougherty Mortgage has closed a $9.3 million Fannie Mae loan for the acquisition of Ridge at Southcross, a 212-unit multifamily property located in San Antonio. The borrower was 4700 Stringfellow LLC. The 12-year loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va., office. The loan features a 30-year amortization schedule and three years of interest-only payments.