MARANA, ARIZ. — Ventana Medical Systems plans to occupy a 60,000-square-foot distribution facility in Marana. The built-to-suit building will be located in Tangerine Commerce Park on Tangerine Farms Road, just west of the Tangerine Road freeway interchange. The distribution facility is being built by Barker Morrissey Contracting and designed by Gromatzky Dupree and Associates. Construction will commence in the fourth quarter of 2014. It is scheduled for completion in the fourth quarter 2015. Ventana Medical Systems is a member of the Roche Group and is a leader in tissue-based cancer diagnostic solutions for patients worldwide. The company was represented by Dev Gupta of DTZ. The landlord, an affiliate of Cottonwood Properties, was represented by CBRE’s Bill Di Vito and Jesse Blum.
Property Type
CARLSBAD, CALIF. — Pacific Ridge Commerce Center, a 52,416-square-foot office and industrial park in Carlsbad, has sold to Sunwood Pacific Ridge LLC for $5.8 million. The center is located at 1945 and 1947 Camino Vida in the Carlsbad Airport Centre. The property will be renamed Sunwood Pacific Ridge. Marc Doyle of Cassidy Turley represented the buyer, which is also a subsidiary of Sunwood Ventures. The seller, Betty Ann Robinson Trust, was represented by Kent Moore of the same firm. Moore and Doyle will also serve as the property’s leasing agents. Property management will be provided by Eugene Burger Management Corporation.
DENVER – A 37-unit apartment building in Denver has sold to an unnamed buyer for $5.1 million. The community is located at 2860 W 32nd Ave. It was built in 1961. The Calame | Lewallen Team at Pinnacle Real Estate Advisors LLC represented both the buyer and unnamed seller in this transaction.
ALBUQUERQUE — Contrast Optical Design and Engineeringhas leased 4,051 square feet at the Uptown Building in Albuquerque. The building is located at 6100 Uptown Blvd. NE. The female-owned small tech business will be located on the fifth floor. Contrast was represented by CBRE’s Marguerite Haverly and Brent Tiano. The landlord, Rosemont Realty, was represented by CBRE’s Terri Dettweiler.
DALLAS — Rochon Family Office has signed a 9,446-square-foot lease with Dallas-based Harwood International. Rochon is moving its headquarters to the penthouse of the Frost Tower, which is scheduled to open in the spring of 2015. Jihane Boury and David Roehm of Harwood International worked on the lease along with Randy Cooper and Charlie Morris of Cassidy Turley and Ryan Mack of Rochon. The company is privately held, with operations in 40 countries.
CROWLEY, TEXAS — Marcus & Millichap has arranged the sale of All Star Self Storage, a 57,625-square-foot self-storage facility located in Crowley, just south of Fort Worth. Brandon Karr of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Karr also secured the buyer, a limited liability company. All Star Self Storage is located at 786 FM 1187 East. The property consists of 224 climate-controlled units, 214 drive-up units and two uncovered parking spaces on 3.8 acres. It was built in 2007 and was 78 percent occupied at the time of sale.
CARROLLTON, TEXAS — Lee & Associates has completed a lease renewal for a 127,506-square-foot industrial space at 1440 Lemay Drive in Carrollton, just north of Dallas. Adam Graham and Nathan Denton of Lee & Associates represented the landlord in the transaction. Carter Fournier of Concord Interest represented the tenant, SWS Re-Distribution Company Inc., a distributor of sanitation and housekeeping products.
AUSTIN — Atlanta-based ARA has arranged the sale of Northland at Stonehollow, a 606-unit apartment complex located in north-central Austin. Patton Jones of ARA represented the seller, Northland Investment Corp., in the transaction. The buyer, a real estate investment firm, is an affiliate of Heitman LLC. Built in 1996, the complex consists of one-, two- and three-bedroom units. Amenities include a clubhouse, gym, business center, media center, theater room and two pools. It was 95 percent occupied at the time of sale.
ATLANTA — Mission Capital Advisors LLC has arranged the sale of a $50 million loan secured by The Forum at West Paces, a nine-story trophy office tower in Atlanta’s Buckhead submarket. The 222,457-square-foot property is located within the 17-acre Piazza at Paces mixed-use development. Parkway Properties, a national REIT traded on the New York Stock Exchange, purchased the loan from an undisclosed seller. Will Sledge and Patrick Arnold of Mission Capital represented the seller in the transaction.
KNOXVILLE, TENN. — Southern Management and Development LP (SMD) has brokered the $26 million sale of the 520-unit Sunchase Apartments located at 790 N. Cedar Bluff Road in Knoxville’s Cedar Bluff neighborhood. Steven Levin led the SMD team that represented the seller, a limited partnership based in Tennessee, in the sale to a private fund. The apartment community was 94 percent occupied at the time of sale. Sunchase’s amenity package includes a clubhouse with indoor and outdoor swimming pools, a fitness center and tennis, basketball and volleyball courts.