BOTHELL, WASH. – The 524-unit Northcreek Apartments in Bothell has sold to Grosvenor Americas for an undisclosed sum. The community is located at 11401 3rd Ave. about 20 miles northeast of Seattle. The seller was represented by Pete Shelton and Kim Grant of Cushman & Wakefield.
PHOENIX – The 30-unit Indigo multifamily community in the Phoenix submarket of Ahwatukee has sold to Goodman Real Estate for $4.2 million. The fractured Class A condominium is located at 16160 S. 50th Street. Though 17 of Indigo’s units had previously sold as condos, the new owner plans to pursue these assets as well. The community can also hold an additional 78 units, which Goodman plans to develop soon. The seller, Sabal Financial Group, was represented byJohn Cunningham and Charles Steele of the Jones Lang LaSalle Phoenix Capital Markets Team.
LOS ANGELES — Premier Business Centers has leased the 12th floor at The Wilshire Landmark I building in the Los Angeles submarket of Brentwood. The building is located at 11755 Wilshire Blvd. The office space and executive suites operator will occupy 28 executive suites and office spaces, two meeting rooms, a kitchen, business lounge and reception area.
SANTA CLARA, CALIF. – Nvidia has announced plans to expand its Santa Clara campus by adding a new 500,000-square-foot office building. The project will be developed in two phases, with the first phase commencing in June. It will be built on the south side of a24-acre parcelthat was purchased by the visual computing technologies company in 2008. It will contain two levels of office and lab spacethat will accommodate up to 2,500 people. Nvidia’s Santa Clara operations already contains a 12-building, 1.1-million-square-foot campus. The project will be built by Webcor, designed by Gensler and managed by SRGNC CRES, LLC, a division of Sares Regis Group of Northern California.
SAN FRANCISCO — Anchor Brewing has announced plans to develop a 212,000-square-foot facility at Pier 48, making it the first major tenant to sign onto San Francisco’s new $1.6-billion Mission Rock development. The new waterfront brewery will allow the craft brewer to quadruple its operation. Its annual production capacity is expected to increase from 180,000 barrels to 680,000 barrels. The company’s original facility in Potrero Hill will remain in operation. Anchor Brewing is known for its Anchor Steam Beer, which has been brewed in San Francisco since 1896. The new facility will feature brewing, distilling, packaging, storing and shipping production facilities, as well as a restaurant, museum and educational facility. Construction will begin in late 2014.Anchor Brewing will occupy 22 percent of the new Mission Rock project, which is being developed by the San Francisco Giants. The mixed-use project will contain up to 1,500 residential units, up to 1.7 million square feet office space, and up to 250,000 square feet of retail, restaurants and public amenities. Pier 48 is part of the Port’s Embarcadero Historic District.
PHOENIX – The 24-unit Cobalt apartments in Phoenix has sold to Goodman Real Estate for $5.6 million. The Class A community is located at 32nd Street and Union Hills. The acquisition includes land that could be used for a 66-unit expansion. John Cunninghamand Charles Steeleof the Jones Lang LaSalle Phoenix Capital Markets Teamrepresented the seller, Sabal Financial Group, in this transaction.
SAN JOSE, CALIF. – The San Jose Evergreen Community College District has purchased a 36,363-square-foot office building in Downtown San Jose for $4.3 million. The building is located at 40 South Market Street. The district will soon relocate its administrative services to the new facility from its southeast San Jose office on San Felipe Road. The building was 60 percent vacant at the time of sale. The district will occupy more than 22,000 square feet of this vacant space. It plans to absorb additional space once the remaining leases expire. The seller, Sleepy Hollow Investment Management, was represented by Michael Speers of Cassidy Turley, and Duffy D’Angelo and Dave Schmidt of Colliers International.
TUSCALOOSA, ALA. — Chance Partners has started construction on Green Bear Lofts, a 53-bed luxury apartment community at the intersection of Greensboro Avenue and Bryant Drive in Tuscaloosa. The project will also include 3,985 square feet of street-level retail space. Green Bear Lofts will offer one-, two- and three-bedroom units. Amenities will include on-site parking, a residents-only clubroom and a pocket park with water features. Rents will start in the low $700's per bed, per month. The project team includes The Preston Partnership, APEX Construction Services LLC and Walker & Associates Inc. Asset Campus Housing will manage the property.
JACKSONVILLE AND ORLANDO, FLA. — Crocker Partners has acquired two recently foreclosed Florida office parks, adding more than 1.3 million square feet to the private equity company's portfolio. The company acquired Freedom Commerce Center, a 752,000-square-foot, seven-building complex in Jacksonville, for $28 million. Crocker also picked up Orlando University Center, a 386,000-square-foot, five-building center, for $33.5 million. Crocker Partners previously owned the assets and sold them in 2005 to a private equity firm. The buyer plans to reposition the assets.
BOWLING GREEN, KY. — Meridian Design Build has completed the construction of an 85,000-square-foot Staybridge Suites Hotel in Bowling Green. The three-story, 124-unit hotel includes studio, one-, and two-bedroom layouts with fully-equipped kitchens. Hotel amenities include a fitness center, outdoor pool and on-site meeting rooms to accommodate the needs of business travelers and other extended-stay guests. The project team also included Adkisson & Associates Architects, Arnold Consulting Engineering Services and Dellisart LLC.