BEVERLY HILLS, CALIF. — An 18,205-square-foot retail and office building in Beverly Hills that is fully leased to Giorgio Armani was sold to Jenel Management for an undisclosed sum. The building is located at 9533 Brighton Way between Rodeo and Camden driveswithin the city’s Golden Triangle district. The seller, GLL Real Estate Partners, was represented by Michael Zietsman and Patrick Inglis of Jones Lang LaSalle.
NAPA, CALIF. – A two-property multifamily portfolio in Napa has sold to Ridge Capital Investors, LLC and Redwood Real Estate Partners for $39.5 million. The properties included in this acquisition were the 124-unit Saratoga Downs Apartments and the 54-unit Sheveland Ranch Townhomes. The contiguous Class A properties are located just south of downtown Napa. The combined assets have been rebranded as Saratoga Downs at Sheveland Ranch. They represent the newest apartment product in the Napa market. The new property will be managed by FPI Management. Vince Schwab of Marcus & Millichap’s San Francisco office represented both the buyers and the unnamed seller in this transaction.
NORWALK, CALIF. — Ameripak Industries has signed a 62-month lease for a 72,000-square-foot building in Norwalk. The lease is valued at about $2 million. The space is located at 15500-15510 Blackburn Ave. The company will be relocating from nearby Pico Rivera. Ameripak was represented by CBRE’s Philip Christian, David Ellis, Josh Bonwell and Rick McGeagh. The landlord is Majestic Realty.
CHANDLER, ARIZ. — Gold Medal Gymnastics Academy has signed a seven-year lease for 24,492 square feet of office and warehouse space at Warner Commerce Park. The space is located at 455 E. Warner Road in Chandler. The new lease will bring the center to full occupancy once the academy opens in August. Gold Medal Gymnastics was represented by Andy Kroot and Christina Biagiolo of Velocity Retail Group in Phoenix. The landlord, Dalfen America Corp., was represented by Evan Koplan and Mike Parker of CBRE’s Phoenix office.
PINELLAS PARK, FLA. — Capital Advisors has arranged $33.5 million in construction financing for The Spa and Residences at Gateway Centre, a 320-unit, Class A apartment complex, located at 3115 Grand Ave. in Pinellas Park. Cooper Willis of Capital Advisors arranged the mini-perm loan on behalf of the borrower, Gateway Centre LLC, through a regional bank. The seven-year loan includes 36 months of interest-only payments and a 30-year amortization schedule. The Spa and Residences at Gateway Centre will be constructed on a 39-acre site.
FRANKFORT, KY. — Lyons Magnus Inc. plans to expand operations in Frankfort, adding 50 jobs and investing $5 million in the project. The company, which develops and markets products in the food service industry, plans to purchase land to build a new facility for food processing, warehousing space and shipping. The Kentucky Economic Development Finance Authority has approved the company for tax incentives up to $400,000. The news follows other major project announcements in Kentucky. Last week, Southern Air said it would move its global headquarters to Northern Kentucky, adding 150 jobs in Florence. ZoomEssence announced that it plans to invest $3 million in a research and development location in Hebron, and Baluff Inc. has broken ground on the company's new U.S. headquarters in Independence.
OCALA, FLA. — A 109-room Hampton Inn & Suites in Ocala has sold to a limited liability company from Michigan for $5.8 million, or $53,211 per room. The hotel is located directly off I-75 on Highway 484, just minutes from Ocala's Florida Horse Park. Ahmed Kabani and Jonathan Gerszberg of Marcus & Millichap represented the seller, a Miami bank, in the transaction. David Greenberg of Marcus & Millichap represented the seller.
ATLANTA — Medtech College has signed an 11-year lease for 16,000 square feet at 2800 Century Parkway in Atlanta, part of the Century Center office park. Medtech, a medical training school with locations in the Southeast and Midwest, currently has two Atlanta-area campuses. The space was previously occupied by AT&T before its recent consolidation. Dale Lewis of Cassidy Turley represented Medtech in the relocation of its Tucker campus to Century Center. Medtech can now provide training programs to the entire northeast Atlanta area. Jim Legg of Highwood Properties represented the landlord.
RIVERSIDE, MO. — Yanfeng USA Automotive Trim Systems, a Michigan-based subsidiary of Yanfeng Visteon, has announced its plans to construct a $45 million production facility in Riverside, a northern suburb. The new facility is expected to create 263 new local jobs. Construction on the 258,000-square-foot plant is set to start next month, and the facility is scheduled to become operational in early 2014. The manufacturing operation supplies parts to General Motors Co. and Chrysler Corp. The Riverside plant will manufacture interior trim components, such as door panels, floor consoles and instrument panels for the General Motors plants in Wentzville, Mo. and Fairfax, Kan.
NEW HOPE, MINN. — NorthMarq Capital has arranged $11.5 million in first mortgage refinancing for Broadway Village Apartments, a 252-unit, market-rate multifamily property located at 6020-7240 Broadway Ave. in New Hope, a northwest suburb of Minneapolis. Financing was based on a 10-year term and a 30-year amortization schedule. Daniel Trebil of NorthMarq arranged the loan for the borrower through its seller-servicer relationship with Freddie Mac.