SAN DIEGO — Moss Adams LLP has signed a 10-year lease for La Jolla Commons Tower I. The lease is valued at $9.4 million. The tower is located at 4747 Executive Drive in San Diego. The public accounting firm will occupy 18,611 square feet. Moss Adams will occupy its new space in the first quarter of 2015. The firm was represented by Duncan Dodd of Cassidy Turley’s San Diego office. The landlord, HSPF La Jolla Commons I Investors LLC, was represented by Matthew Carlson, Eric Northbrook and Chris High of Cushman & Wakefield.
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SAN DIEGO — Southrail Business Park, a 128,294-square-foot industrial park in the San Diego submarket of Chula Vista, has received a $4.1-million acquisition loan. The eight-building park is located at 664 Marsat Court, about 10 minutes from Downtown San Diego. The buildings are 98 percent leased to 26 tenants, including PowerSports Group, Toleeto Fasteners Intl, Delphius Engineering and Bay Bridge Brewery. The buyer was Focus Real Estate LP. The loan was arranged by HFF’s John Chun. The joint venture equity was placed with a regional joint venture equity fund.
LAS VEGAS — The Shops at Warm Springs, a 15,760-square-foot retail building in Las Vegas, has sold to an unnamed buyer for $3 million. The building is located at 7150 S. Durango Drive. It is occupied by Cricket Wireless, Title Max, Stacks & Yolks, Volcano Grill, Quick Draw Tattoo and Beyond Nails & Spa. The buyer was represented by Adam Malan of the Equity Group. The seller, PWDAF Warm Springs and Durango LLC, was represented by CBRE’s Charles Moore, Marlene Fujita Winkel and Ashley Kolaczynski.
PHOENIX – A 43,584-square-foot industrial property in Phoenix has sold to a corporation for $2.4 million. The building is located at 15002 North 25th Drive. It was originally built in 1983, when it was occupied by Safeway. The facility is currently occupied by a church, which will vacate in the next nine months. The buyer plans to use the facility for its own manufacturing and administrative needs. Neal Waldman of Marcus & Millichap’s Phoenix office and Paul Berkner of Colliers International represented both the buyer and seller, a family trust, in this transaction. Berkner was formerly with Marcus & Millichap.
SAN DIEGO – A 2,263-square-foot medical office building in the San Diego submarket of La Jolla has sold to EHOF La Jolla LLC for $2.2 million. The building is located at 7601 Draper Ave. It is currently occupied by La Jolla Animal Hospital. The hospital has occupied the building since 1975. The buyer plans to raze the building so it can develop a townhome complex on the site. The LLC was represented by Trenton Bonner of Trenton Bonner Coastal Real Estate. The sellers, two private individuals, were represented by CBRE’s Paul Lafrenz, Melissa Foster, Reg Kobzi and Brad Chelf.
AUSTIN — Capital One Multifamily Finance has provided two Freddie Mac, fixed-rate loans totaling $42.8 million for the acquisition of two Class A apartments in Austin. The apartments include the 5th Street Commons, a 150-unit property built in 2009, and the Pressler, a 168-unit property built the same year. Intercontinental Real Estate was the purchaser. The loans have a seven-year term with seven years of interest-only payments and 6.5 years of defeasance.
FORT WORTH — Marcus & Millichap has arranged the sale of Arbor View, a 15-unit apartment property in Fort Worth. Robert Denninger and Kevin Parrish with Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, an out-of-state private investor. Parrish also represented the buyer, an individual/personal trust. Arbor View is located at 4738 El Campo Ave. in the Arlington Heights submarket of Fort Worth. Built in 1949, the community includes 14 two-bedroom, one-bathroom units with 775 square feet. There is also one two-bedroom/two-bathroom unit with 1,550 square feet.
PLANO, TEXAS — West Plano Village, a mixed-use project under construction at the northeast corner of the Dallas North Tollway and Parker Road, is nearing completion. The project was first announced before the recession started, but is now months away from opening. Cencor Realty Services is developing the project, set to open in early 2015 with 90,000 square feet of retail space and 60,000 square feet of second-floor office space fronting the Tollway and Parker Road. Residential developer Amli Residential is constructing 264 apartments in a four-story configuration. The apartments are set to open later this year. When completed, the site’s restaurants will include Kona Grill, Princi Italia, Mi Dia From Scratch and Pakpao. Other tenants will include AT&T and Charles Schwab. Michelle Caplan with The Weitzman Group is handling retail and office leasing at West Plano Village. Dallas-based Hodges & Associates is the project’s architect.
LEWISVILLE, TEXAS — NorthMarq Capital’s Dallas office has arranged the $3.9 million refinancing of Victoria Heights, which consists of 37 newly constructed townhome buildings located at 290 Country Ridge Road in Lewisville. The transaction was structured with a 23-year loan term that is fully amortized. NorthMarq arranged financing for the borrower through its relationship with a life company.
GRAND PRAIRIE, TEXAS — NAI’s retail division has arranged the sale of the 148,272-square-foot Emerald Square shopping center at 2985 S. Highway 360 in Grand Prairie. Mike Smith of the NAI Robert Lynn Retail Division represented TriMarsh Properties, which plans a redevelopment of the area. Planned upgrades include a remodeled exterior façade and new LED signage. The property sits near Highway 20, providing close access to Arlington, Dallas and Fort Worth.