SEATTLE – Thomas Company has opened a new office in Seattle. It has also hired net lease expert Adam Christoffersen to oversee the region. Christoffersen was previously with Gibraltar, LLC and CBRE. Thomas Company, which specializes in the single-tenant, net leased assets, was originally founded in Newport Beach, Calif.
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SAN DIEGO — Lockheed Martin Corporation has renewed its lease for 111,972 square feet at Horizon Tech Center in San Diego. The 157,884-square-foot tech center is located just east of Scripps Ranch Road and 0.5 miles east of I-15 in the Scripps Ranch submarket. The center is owned by KBS Real Estate Investment Trust II.
LOS ANGELES – Grandbridge has provided $26.5 million in first-mortgage financing to a pair of Los Angeles area apartment buildings. They include a 205-unit community in Canoga Park and a 128-unit complex in Simi Valley. The former property received $14.2 million, while the latter received $12.2 million. Both non-recourse loans were provided by Lincoln National Life Insurance Company. They contain 15-year terms and 30-year amortization schedules with interest-only features. Financing was originated by Shelley Magoffin and Perry Colligan of Grandbridge. They worked on behalf of a West Los Angeles investor.
GARDEN GROVE, CALIF. – An affiliate of CT Realty Investorshas acquired a 210,000-square-foot industrial building in Garden Grove for $26 million. The facility is located at 12131 Western Ave. within the master-planned Garden Grove Business Center. It is fully leased to direct marketing company Money Mailer LLC. This is CT’s ninth industrial acquisition this year. The company represented itself in this transaction, while the unnamed seller was represented by Michael Hartel and Mike Bouma of Voit’s Irvine office.
LOS ANGELES – A 32-unit apartment building in Venice has sold to Mastraili, LLC for $3.5 million. The community is located at 1210 Venice Blvd. in the Los Angeles submarket. It was built in 1988. Michel Hibbert and Dan Johnson of Charles Dunn Company represented both the buyer and the seller, Coastal Property, in this transaction.
NASHVILLE, TENN. — Miami-based Parmenter Realty Partners has sold Nashville City Center, a Class A, 27-story office building in downtown Nashville. The 482,407-square-foot tower houses tenants such as Waller Lansden and First Tennessee Bank. Prior to the sale, Parmenter renovated the lobby and floor common areas. Additionally, there is currently a 499-space underground parking garage under construction in close proximity to the office building.
PETERSBURG, VA. — Rendina Cos. has completed the new Southside Regional Medical Arts Pavilion, a two-story, 32,500-square-foot medical office building located in Petersburg. The new property is located on the campus of Southside Regional Medical Center, a Community Health Systems Hospital located at 200 Medical Park Blvd. The new property houses a cancer center, digital women's imaging center and general medical and obstetrical office space for physicians. The design team for the new facility includes Norfolk, Va.-based general contractor VIRTEXCO Corp. and Nashville, Tenn.-based architect Davis Stokes Collaborative.
TAMPA, FLA. — PinPoint Commercial LP and Thrive Senior Living have begun construction on The Legacy at Highwoods Preserve, a new assisted living and memory care facility in north Tampa. The 164-bed will feature telemedicine suites, oversized rooms, libraries, gaming areas, shops, beauty salons and multiple courtyards. PinPoint and Thrive's partnership with LG, a global technology corporation, will allow the facility to feature high-tech equipment to care for residents. The new facility is slated to wrap up construction in the fall of 2014.
BRADENTON, FLA. — CBRE has arranged the sale of a single-tenant, triple-net leased retail property located at 6521 State Road 64 in Bradenton. The buyer, Charlotte, N.C.-based Bayrock Investment Co., purchased the 1,816-square-foot property, which is leased to Starbucks Coffee, for approximately $1.9 million. CBRE's net lease property group represented the seller, HB Retail SR64, in the transaction.
AUGUSTA, GA. — Transwestern has brokered Bennett Distribution Services LLC's 237,500-square-foot lease renewal at 922 Molly Pond Road in Augusta. The tenant is an affiliate of McDonough, Ga.-based Bennett International Group LLC and operates more than 1.1 million square feet of warehouse/distribution space in Augusta. Buddy Hill of Transwestern represented the tenant in the lease deal. Scott Atkins of Meybohm Commercial Properties represented the landlord.