FREMONT, CALIF. – JC Paper has signed a 10-year lease extension for 214,809 square feet of warehouse space in Fremont. The space is located at 47422 Kato Road. The Kato Road complex was built in 1997. JC Paper was represented in-house by Mark Clarke. The landlord, Westcore Properties, was represented by its own Meghan Sandlin.
SANTA ANA, CALIF. – A 152,705-square-foot office building in Santa Ana has sold to Small Giant for $12.7 million. The nine-story building is located at 1200 North Main. It was 55 percent leased at closing. The property was built in 1971 and renovated in 1997. The seller, Positive Investments, was represented by Dan Vittone and Alan Pekarcik of Avison Young.
CARLSBAD, CALIF. – Lincoln Property Company has purchased a 68,392-square-foot R&D/office park in Carlsbad for $11.9 million. The park is located at 5993 and 5999 Avenida Encinas. It was 80 percent occupied at the time of purchase. This is Lincoln’s fourth purchase in North County over the past year. Rick Reeder and Aric Stark of DTZ represented both the buyer and unnamed seller in this transaction.
SALT LAKE CITY – Traeger Wood Pellet Grills has leased 28,740 square feet at Wilmington Gardens in the Salt Lake City submarket of Sugar House. The new mixed-use project will be located at 1215 East Wilmington Ave. It will contain 75,000 square feet of office and 25,000 square feet of retail, in addition to 100 condo and apartment units. It is expected to be completed this March. The developer is Wilmington Gardens Group, a partnership between Woodbury Corporation, Colmena Group and Dee’s Inc. Traeger was represented by Aaron Jones of Newmark Grubb Acres.
LOS ANGELES – Ramon Plaza, a 70,131-square foot retail property in the Los Angeles submarket of Cathedral City, has sold to an unnamed buyer for $9.1 million. The three-building property is located at 68100 Ramon Road. It contains a mix of medical, retail and office uses. The seller, a private investor, was represented by Pablo Rodriguez and Richard Vincent of Marcus & Millichap’s Ontario office.
MINNEAPOLIS AND ROSEVILLE, MINN. — NorthMarq Capital’s Minneapolis office has arranged $33 million in refinancing for two multifamily properties in Minneapolis and Roseville. The first property is ElseWarehouse Apartments, a mixed-use building that includes 116 apartment units and five commercial spaces. The property is located at 730 Washington Ave. N. in Minneapolis. NorthMarq arranged $21 million in financing for the borrower through its seller-servicer relationship with Freddie Mac. Cherrywood Pointe is the second property, which is a seniors housing property that includes 80 units. The property is located at 2996 Cleveland Ave. N. in Roseville. NorthMarq arranged $12 million in refinancing for the borrower through its seller-servicer relationship with Freddie Mac. Patrick Minea of NorthMarq arranged both of the loans.
OAKBROOK TERRACE, ILL. — Cohen Financial has arranged an $8.3 million acquisition loan for a mid-rise office building located at 2 Trans Am Plaza Drive in Oakbrook Terrace. The property is a 5-story office building adjacent to a Marriott Courtyard hotel. The property is leased to multiple tenants. Dan Rosenberg of Cohen Financial’s Chicago office secured the loan with American Capital Ltd., a publicly traded private equity firm and global asset manager. The borrower is American Landmark Properties, a commercial real estate owner/manager experienced in office properties.
EVANSTON, ILL. — Co-developers Fifield Cos. and Carroll Properties have opened E2, a luxury apartment project in downtown Evanston. The 356-unit development also includes 12 rental townhouses. Designed by FitzGerald Associates Architects, E2 consists of two buildings, a 16-story tower at 1881 Oak Ave., and a 14-story tower at 1890 Maple Ave. The two buildings are connected by a four-story structure that includes three floors of parking and a fourth-floor amenity deck. The building also contains 4,000 square feet of ground-floor retail space. Evanston-based Morgante Wilson Architects designed the common area interior at E2. Apartment tower residences range from 500 to 1,400 square feet and include studio, one-, two- and three-bedroom layouts. Prices range from $1,550 for a studio to $3,700 for a three-bedroom unit. The property also has 12 rental townhomes with private access from Emerson Street. The three-story E2 townhomes range in size from 1,750 to 1,875 square feet and have three bedrooms, two and a half baths and a third-floor deck. Pricing for townhomes begin at $4,200 per month.
COLUMBUS — Vineyard Vines, a clothing and accessories retailer, has opened a 3,000-square-foot store at Easton Town Center in Columbus. The retailer leased space at the property located at 160 Easton Town Center. The store is the brand’s third Midwest location after Chicago and St. Louis. The Georgetown Co. and Steiner + Associates developed Easton Town Center, a 1.7 million-square-foot shopping center that opened in 1999. Vineyard Vines plans to open 10 more stores in major markets throughout the U.S. by the end of 2015.
SAN ANTONIO — CBRE has secured $44.6 million in acquisition financing for Signature Ridge, a 612-unit, Class A multifamily community in San Antonio. The loan carries a 10-year floating-rate term, five years of interest-only payments and a 70 percent loan-to-value ratio. Fannie Mae provided financing. Jim Kirkpatrick of CBRE’s Houston office arranged the financing on behalf of the borrower, a joint venture between RailField Realty Partners and Artemis Real Estate. Located at 3711 Medical Drive, Signature Ridge is garden-style apartment community situated on more than 30 acres. The property is located within minutes of South Texas Medical Center and just southeast of USAA’s 4.2 million-square-foot campus.