TUCSON, ARIZ. — Campbell Plaza, a 190,000-square-foot, grocery-anchored retail center in Tucson, has sold to Krausz Puente LLC and Krausz RC Properties One LLC for $32.3 million. The center is located on the northeast corner of Campbell Avenue and Glenn Street. It was 95 percent occupied at the time of sale. Notable tenants include Albertsons, Ace Hardware, Panda Express, Rubio’s Fresh Mexican Grill, T-Mobile, Jamba Juice, GameStop, Old Chicago Restaurant, Five Guys Burgers and Fries, and Sauce Pizza and Wine. The seller, Camelback Corporate Center Joint Venture LLC, was represented by CBRE’s Mike Sandahl, Nancy McClure and Bob Young.
Property Type
SCOTTSDALE, ARIZ. — A 127,750-square-foot office building in Scottsdale that houses the headquarters for Fender Musical Instruments Group has sold to Bruce Karsh for $29.8 million. The Class A building is located at 17600 N. Perimeter Drive. It was fully leased at the time of sale. The seller, WDP Partners LLC, was represented by Jim Fijan in CBRE’s Phoenix office.
PHOENIX — Hines U.S. Office Value Added Venture III has purchased 24th at Camelback I in Phoenix for an undisclosed sum. The 302,209-square-foot, Class A office tower is located in Phoenix’s Camelback Corridor submarket. The property also contains 27,209 square feet of ground-floor retail space.
SAN FRANCISCO — The Swig Company has purchased an 88,668-square-foot office building in San Francisco for an undisclosed sum. The four-story property is located at 901 Battery Street. The acquisition also includes a parking structure that resides at 998 Sansome Street. The fully leased building is home to KMD Architects, Viscira, MediaOne, Fox News and New Deal Design.The seller, a partnership that had owned the property for several decades, was represented by Tony Crossley and Erik Hanson of Colliers International. Mee Mee Kiong and Peter Nelson of HSBC Bank provided the acquisition financing.
POMONA, CALIF. — A 355,162-square-foot distribution center in Pomona has sold to CMC Dragon, LP for $28.4 million. It is located at 1388 W. Holt Ave. The furniture manufacturer and importer will be relocating from nearby Fontana. The facility will serve as CMC’s West Coast distribution center. The company will occupy 80 percent of the building. The remaining space will be leased to Nina Footwear, an existing tenant at the building. CMC was represented by Brian McLoughlin and David Fults of Voit’s Greater Los Angeles office. The seller, CH Realty III, was represented by Frank Geraci, Walt Chenoweth, Juan Gutierrez and Patrick Wood ofVoit’s Inland Empire office.
ALAMEDA, CALIF. – The 615-unit Summer House Apartments in Alameda has received $19.4 million in financing. This was a supplemental Freddie Mac loan that was added to the community’s existing financing. The loan was arranged for Kennedy Wilson by Berkeley Point Capital.
TAMPA, FLA. — A joint venture between Feldman Equities Inc. and Tower Realty Partners has acquired the 22-story, 387,477-square-foot Wells Fargo Center for $44.8 million in downtown Tampa. The Class A office building is located across from the Tampa Convention Center and includes anchor tenants Wells Fargo & Co., Phelps Dunbar and UBS. It is currently 77 percent leased. Larry Feldman of Feldman Equities Inc. will lease Wells Fargo Center and Tower Realty Partners will handle management responsibilities. Eastdil Secured represented the seller and HFF represented the buyer.
TAMARAC, FLA. — Marcus & Millichap has arranged the $15 million sale of 222 apartment units in the 291-unit Jasmine Condominiums in Tamarac. Tal Frydman, Derek Gibbs and Daniel Cunningham of Marcus & Millichap represented both the seller, an Israel-based private investment company, and the buyer, a real estate investment management group. Jasmine Condominiums is located at 8650 N.W. 61st St. and was built in 1987.
MIAMI — Marcus & Millichap has facilitated the $5 million sale of the 24,700-square-foot Colony Shops, a retail strip center at 5058 Biscayne Blvd. in Miami’s Midtown district. The property is 100 percent occupied with a mix of local tenants including a Bikram Yoga studio, doctor’s office and law firm. Ryan Shaw of Marcus & Millichap represented the unlisted seller, and Scott Sandelin of Marcus & Millichap represented the buyer, a Miami Beach, Fla.-based limited liability company.
STUART, FLA. — Amore Dementia Care, which provides its residents with services such as exercise classes designed to promote muscle group stimulation and cognitive function, has sold for approximately $2.4 million. The property is located at 1634 S. Kanner Hwy. in Stuart. Growth Capital Investments LLC purchased the healthcare property from Soleil Management Group LLC, which has operated the 19-unit, 38-bed facility since it was built in 2000. Trusted Seniors Care Inc., a seniors housing management company, will handle the day-to-day operations. Kenneth Carriero and Damien Carriero of Colliers National Seniors Housing Group facilitated the sale.