LOS ANGELES – A 12-unit apartment complex located at 11292 Brookhaven Ave. in Los Angeles has sold to 11296 Brookhaven Investors, LLC for $2.2 million. The community resides between Pico and National boulevards near the 405 and 10 freeways. The buyer was represented by Michael Irvine of Bulldog Realtors. The seller, KWP Investments, LLC, was represented by Michel Hibbert of Charles Dunn Company.
FRESNO, CALIF. — A 52,400-square-foot retail property in Fresno that is triple-net leased to El Super supermarket has sold to Super AB, LLC for $8.7 million. The property is located at 3190 East Tulare Street within the Heritage Square retail center. The buyer was represented by Matt Mousavi of Faris Lee Investments. The seller, Tulare & 1st Fresno, LLC, was represented by CBRE’s Art Flores.
LAKE OSWEGO, ORE. – The 113,910-square-foot Five Centerpointe office building in Lake Oswego has sold to Urban Renaissance Investment Partners Ifor an undisclosed amount. The center is located in the Kruse Way submarket. The office building is currently 85 percent leased.The buyer was represented by Buzz Ellis andAndrew Rosengartenof Jones Lang LaSalle. The seller, a pension fund, was also represented by Ellis.
SALEM, ORE. – The 48-unit Mountain View Apartments in Salem has received a $2.1-million refinance loan. The loan features a 10-year fixed-rate term and a 30-year amortization. The loan was originated by Dan Ross of Alliant Capital LLC.
SCOTTSDALE, ARIZ. — Regus Corporation has leased 16,324 square feet of office space at Promenade Corporate Center in Scottsdale. The center is located at 16427 N. Scottsdale Road. The Class A office buildings are 87 percent occupied. Regus was represented by CBRE’s Kevin Calihan. The landlord, Excel Promenade Office LLC, was represented by Jeffrey Wentworth and Sean Spellman of Cassidy Turley Arizona’s Office Group.
PANAMA CITY BEACH, FLA. — A joint venture of The St. Joe Co., Casto and Strategic Retail Advisors has received a $46 million construction loan from U.S. Bank to finance The Pier Park North Shopping Center. The 360,000-square-foot center will be located in Panama City Beach across from the Pier Park Lifestyle Center at the intersection of U.S. Highway 98 and State Road 79. Dick's Sporting Goods, Michaels, Pier 1 Imports and Kirkland's committed last fall to anchor the center. Additional tenants will include Bed Bath & Beyond, Mattress Firm, Men's Warehouse, PetSmart, Rooms to Go and Shoe Carnival. The Pier Park North Shopping Center will open in spring 2014. A Casto-affiliate, based in Sarasota, Fla., will develop the center.
MIAMI — Continental Real Estate Cos. (CREC) has been selected as the leasing agent for eight shopping centers in South Florida totaling 629,060 square feet. The retail properties include El Mercado, Clewiston Town Center, Polo Grounds Mall, #1 Marketplace, The Shops of Bird Road, Tropical Plaza, Gables Grand Plaza and Red Road Commons. The firm will also manage El Mercado and Clewiston Town Center. Carlos Guzman, Steven Henenfeld, Mitchell Boxer and Ruben Suarez of CREC will lead the retail leasing team.
NORTH MIAMI BEACH, FLA. — The Boulder Group has arranged the $11 million sale of a triple net-leased Walgreens property at 15050 Biscayne Blvd. in North Miami Beach. The 14,500-square-foot property was built in 2010 and the lease features a unique 11 percent rental escalation in the primary lease term. Walgreens has 22 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Montreal, Canada-based private partnership, in the transaction. The buyer was a Massachusetts-based limited partnership.
LEESBURG, VA. — Developer L4 Capital Partners has selected Cassidy Turley to lease the office component of Courthouse Square, a mixed-use development in downtown Leesburg. The project is slated to begin construction in the fourth quarter of 2013 and includes 110,560 square feet of Class A office and retail space. Bert Harrell, Anthony Chang and Chris Darlingof Cassidy Turley will market the property, which is located across the street from the Loudoun County Courthouse at the intersection of Church and Loudoun streets. The $45 million project is scheduled for completion in 2015. The office component will feature four outdoor terraces, green-roof systems, bicycle storage and a shower room. The development will also include 21,300 square feet of retail and restaurant space.
HOFFMAN ESTATES, ILL. — LPC Realty Advisors, on behalf of a pension fund client, has purchased Greenspoint Office Park, a three-building, Class A office portfolio, for $23.5 million. The office property, which spans 489,635 square feet, includes Barrington Pointe building, 148,385 square feet; Greenspoint I, 202,838 square feet; and Greenspoint III, 147,412 square feet. The properties are located at 2300 N. Barrington Road, 2800 W. Higgins Road and 2895 Greenspoint Parkway at the interchange of Interstate 90 and Barrington Road. HFF represented the seller, Multi-Employer Property Trust, in the transaction.