YORBA LINDA, CALIF. – A 22,544-square-foot office building in Yorba Linda has sold to Robert and Pamela Moreno for $3.7 million. The building is located at 22860 Savi Ranch Parkway. The buyers were represented by Gary McArdell of Lee & Associates – Newport Beach. The seller, Savi Ranch Partners LLC, was represented by Chuck Wilson and Brian Chastain of Colliers International.
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LA VERNE, CALIF. — Broiler Express has acquired a 3,518-square-foot retail property in La Verne for $2.7 million. The space is located at 919 Foothill Blvd. Broiler Express was represented by Fred Encinas and Vicky Espinosa of NAI Capital’s Ontario office. The seller was La Verne Denn Inc.
LOS ANGELES – An 18-unit apartment building in Los Angeles has sold to Abady Holding Corp. for $2.6 million. The building is located at 1522 Hi Point Street. Abady was represented by Collin Brashears, Rob Zaharia and Tim Steuernol of NAI Capital’s West Los Angeles office.
GAINESVILLE, FLA. — Skanska has signed a contract to expand the UF Shands Cardiovascular/Neuroscience Hospital in Gainesville. The contract is valued at $225 million. The approximately 516,668-square-foot addition will constructed adjacent to the UF Health/Shands Cancer Hospital, which Skanska constructed in 2009. Construction on the expansion will begin either in the fall or winter of this year and wrap up in the fall of 2017.
NASHVILLE, TENN. — Sterling American Property Inc. has sold Service Source Tower, a 20-story, 266,000-square-foot office tower in downtown Nashville, for a reported $34 million. The property is located at the crossroads of 4th and Church streets. The buyer was Boston-based Albany Road Real Estate Partners. The seller recently completed a multi-million dollar renovation of the tower, including replacing the building’s mechanical systems. The property was 99 percent leased at the time of the sale to anchor tenant Service Source, as well as CapStar Bank, Kermit Stengel Co. and Andrew Byrd & Co. The building’s management and leasing agent is Rob Lowe of Cassidy Turley.
WASHINGTON, D.C. — Community of Hope has opened its new 50,000-square-foot, $26 million health center at 4 Atlantic St. S.W. in Washington, D.C.’s Ward 8 neighborhood. The property, known as the Conway Health and Resource Center, will feature 20 medical exam rooms, 11 dental chairs, six rooms for behavioral health and a large education room. The center received the majority of its funding from the local and federal governments. Architecture and design firm Perkins + Will designed the property.
WASHINGTON, D.C. — The Embassy Row Hotel in Washington, D.C., is slated to undergo a $15 million renovation to its guest rooms and common areas. Phase I of the project includes renovations to the hotel’s rooftop terrace and pool, which is slated to wrap up in June. Phase II will feature renovations to all nine floors and 231 guest rooms. Phase II will also include a new lobby, bar, barista station, meeting space and fitness studio. The entire renovation project is expected to be complete in March 2015.
MIAMI — HFF has brokered the $10.1 million sale of Eureka Plaza, a 66,142-square-foot grocery-anchored shopping center in Miami. The property is located at 18300 S.W. 137th Ave., south of Miami’s central business district. A 52,450-square-foot Winn Dixie anchors the shopping center. Other retailers include Pollo Tropical and McDonald’s. Danny Finkle and Luis Castillo of HFF represented the seller, EDENS, in the transaction. The buyer was Eureka Plaza Group LLC.
PLAINFIELD, ILL. — The Boulder Group has completed the $2.4 million sale of a single-tenant property leased to La Petite Academy in Plainfield. The childcare facility is located at 2345 S. Route 59, approximately 37 miles southwest of Chicago. La Petite Academy has more than five years remaining on its triple-net lease, which features a 9 percent rental escalation in November 2014. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private investor, in the transaction. The buyer was a high-net-worth individual located in the Midwest. The children’s learning center is the sole occupant of the 9,960-square-foot retail building, which is located on a 44,867-square-foot parcel. Learning Care Group Inc., the second largest for profit childcare provider in North America, owns La Petite Academy.
ELKHART, IND. — Tikijian Associates has arranged the sale of 100-unit apartment community in Elkhart for an undisclosed price to Romney Ventures, a Utah-based private investment/management firm owned by Josh Romney, the son of 2012 Republican presidential candidate Mitt Romney. La Casa Estates Apartments is located at 908 S. Main St. Tikijian represented the seller, Guaranty Bank. A court appointed Colorado-based Z2 Partners as the property manager of La Casa Estates in 2010, after the property’s owner filed for bankruptcy.