GLENDALE, CALIF. – A 33,699-square-foot retail building in Glendale that is net leased to Jo-Ann Fabric and Craft has sold to Aria Investments LLC for $17.7 million. The building is located at 1000 South Central Ave. It was built in 1966 and renovated last year. Aria was represented by Sheila Alimadadian of Marcus & Millichap’s National Retail Group in Newport Beach.
Property Type
VENTURA, CALIF. – A 6,619-square-foot retail space in Venture that is occupied by Citibank has sold to Hull LQ Properties LLC for $4.5 million. The building is located at 1011 S. Victoria Ave. Hull was represented by Chuck Klein and Kevin Held of Cassidy Turley. The seller was CP Sunshine LLC.
SAN DIEGO – The 65-unit Sungarden Terrace senior housing facility in San Diego has received a $2.9-million refinance. The facility is located at 2045 and 2049 Skyline Drive in Lemon Grove. The property contains an assisted living facility with a memory care unit. The loan includes a 15-year term and 15-year amortization schedule. It was secured by Steve Hollisterof NorthMarq Capital’s San Diego regional officethrough the lender, a life insurance company, as a servicing mortgage correspondent.
SAN DIEGO – A 3,900-square-foot property in San Diego that is occupied by Coco’s Bakery restaurant has sold to Fairbanks Trail LLCfor $2.7 million. The property is located at 7398 Clairemont Mesa Blvd. Coco’s renewed its lease for 15 years in 2013. Justin Earley of Capital Real Estate Ventures, Inc. represented both parties, including the seller, USA Properties Inc., in this transaction.
POMPANO BEACH, FLA. — CBRE has arranged the sale of a fully leased, 285,000-square-foot FedEx Ground distribution center located at 2700 N.W. 25th St. in Pompano Beach. Christian Lee, Chris Riley, Brian Budnick, Compie Newman, Jose Antonio Lobon and Tom O’Loughlin represented the seller, Charlotte-based Ft. Lauderdale BTS LLC, in the transaction. TIAA-CREF purchased the asset, which features 30-foot clear heights, 90- to 160-foot deep truck courtyards, a conveyer system, trailer storage parking and a fully fenced perimeter.
CLEARWATER, FLA. — Stan Johnson Co. has brokered the sale of a 113,040-square-foot Sun Microstamping Technologies manufacturing facility in Clearwater for $8.7 million. Sun Microstamping provides metal stamping, injection molding and insert molding for the automotive sector. Camille Renshaw and John Rotunno of Stan Johnson’s New York office represented the seller, an investment fund, and the buyer, STORE Capital.
LOUISVILLE AND MURRAY, KY. — The Cooper Commercial Investment Group has brokered the $5.4 million sale of a portfolio of two CVS/pharmacy locations in Louisville and Murray. The assets both span 10,200 square feet and have five-and-a-half years remaining on the lease term. Dan Cooper of Cooper Commercial represented the seller, a private investment group based in New York, and procured the unnamed buyer in the transaction.
MINNEAPOLIS — Mid-America Real Estate – Minnesota LLC has arranged two leases for Starbucks in Minnesota. Starbucks signed a lease for 1,800 square feet at Woodbury Plaza in Woodbury, Minn., and a lease for 1,922 square feet at Crystal Gallery in Crystal, Minn. Woodbury Plaza is located at the corner of Commerce Drive and Woodbury Drive. Retailers at the 14,000-square-foot center include Target, Sam’s Club, Walmart, Staples, Goodwill and Ashley Furniture. Crystal Gallery is located at the corner of Bass Lake Road and West Broadway. Buffalo Wild Wings and Old Country Buffet are the anchors at the 92,098-square-foot center. Minneapolis-based Mid-America represented the tenant in both transactions.
BROOKLYN PARK, MINN. — WaterStone Bank has provided a $2.1 million CMBS loan to Pettibone Properties 5 LLC. The loan will refinance a 74,641-square-foot, multi-tenant industrial building in Brooklyn Park, a northwest suburb of Minneapolis. Paul Muldoon and Peter Austin of WaterStone’s Minneapolis branch originated the loan for the borrower.
ANN ARBOR, MICH. — Colliers International has arranged the lease of 14,440 square feet for Duo Security in Ann Arbor. The security company will occupy space located at 123 N. Ashley St. Duo Security is expanding and relocating their Ann Arbor office to this location and other multiple spaces. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented the tenant, Duo Security, and the landlord, Wickfield Properties, in the transaction.