RANCHO CUCAMONGA, CALIF. — Inland Empire Health Plan (IEHP) has leased 207,000 square feet at the Atrium at Empire Lakes in Rancho Cucamonga. It will move into its new headquarter space in the second quarter of 2013. The company is relocating from San Bernardino. IEHP was represented by Studley’s Joshua Gorin, Steve Pisarik, Mark Sullivan, and Roi Shleifer and Tom Pierik of Lee & Associates. The landlord, Torchlight Investors/Kelly A. McLaren, was represented by Phil Woodford, John Oien and Vindar Batoosingh.
Property Type
SAN JOSE, CALIF. – Nutanix has subleased 31,000 square feet of space at 1740 Technology Drive in San Jose. The company had previously occupied about 15,000 square feet at neighboring 1735 Technology Drive. The new sublease will allow Nuatnix to expand its headquarters. The new space is located in a Class A, 206,876-square-foot office building. Nutanix was represented by Joe Brady and Mike Mordaunt of Cresa San Jose. The sub-landlord, Namco Bandai, was represented by Paul McNamus and John McMahon of Colliers International.
TEMPE, ARIZ. — Portillo’s has purchased a 2.38-acre parcel at the 1.3 million-square-foot Tempe Marketplace where it plans to open an outpost. The famous Chicago hot dog eatery will open a 7,000-square-foot location on the marketplace’s southwest corner in the summer of 2013.
EMERYVILLE, CALIF. — Public Market, a 272,000-square-foot, mixed-use development in the East Bay submarket of Emeryville, has received $42.5 million in financing. The acquisition financing was provided to a joint-venture between Angelo, Gordon & Co. and City Center Realty Partners, LLC. The non-recourse loan features a floating interest rate and a six-year term. It also allows for a one-year extension and a future funding component t cover property renovations, leasing commissions and tenant improvements. Public Market contains 153,000 square feet of retail space, including a 10-screen Regal theater. Other notable tenants include Urban Outfitters, Guitar Center, Peet’s Coffee & Tea, Regal Cinemas and In-Shape Health Club. It also contains a 119,000-square-foot, Class A office tower that is occupied by Random House, Silicon Valley College and Rocket Software, among others. The Bank of America loan was secured by HFF’s Peter Smyslowski and Kevin Redford.
TEMPE, ARIZ. – The 209-room Sheraton Phoenix Airport Hotel in Tempe has sold to Tempe Hospitality Ventures LLC for an undisclosed sum. The all-cash purchase includes a new 20-year Sheraton franchise. The hotel will undergo significant capital improvements starting next summer. The seller, JER Tempe Hotel LLC, was represented by Bill Murney of HREC Investment Advisors’ Phoenix office.
SAN MARCOS, CALIF. — The Golden Door Spa, a 41-room luxury spa resort in San Marcos, has sold to an unnamed buyer for $24.8 million. The acquisition also includes ownership of The Golden Door brand, as well as any future resort expansion opportunities. The seller was represented by Dan Peek, Bill Stadler, Scott Hall and Alexandra Lalos.
BURBANK, CALIF. – A joint venture partnership that includes KBS Strategic Opportunity REIT has purchased The Burbank Collection, a 39,428-square-foot retail property in Burbank. The purchase price was not disclosed. The Burbank Collection was built in 2008 and features 12 retail units. Notable tenants include Pinkberry, Barney’s Beanery, Verizon and Panera Bread.
TAMPA, FLA. — The 521-room Hyatt Regency at 211 N. Tampa St. in downtown Tampa has sold. Daniel Peek, Paul Hsu and Max Comess of HFF represented the seller, AREA Property Partners. Driftwood Hospitality Management LLC purchased the property for an undisclosed price. The hotel features a restaurant and bar, 30,000 square feet of meeting space, heated outdoor pool, rooftop sundeck, fitness center and gift shop. Following a renovation, the hotel will be converted to the Hilton brand.
GREENVILLE, N.C. — Charlotte, N.C.-based SYNCO Properties Inc., on behalf of Greensboro, N.C.-based Richardson Properties, has acquired the 280-unit Pointe at Wimbledon Apartments in Greenville for approximately $22.5 million. The buyer assumed two existing first mortgages, on the project’s Phase I and II, that were originated with GE Capital Corp. and Housing & Healthcare Finance LLC (HUD). The multifamily community is located at 1530 Wimbledon Dr. and was developed in two phases in 2001 and 2004. The Pointe at Wimbledon features one-, two- and threebedroom luxury apartments ranging in size from 700 to 1,420 square feet. Amenities include two clubhouses, two pools, a fitness center, billiards room, business center, volleyball court, lighted tennis court, basketball court and pet park. It is the initial entry into the Greenville market for SYNCO Properties and Richardson Properties.
ACWORTH, GA. — CNL Healthcare Trust, a real estate investment offering focused on seniors housing and healthcare real estate, will invest $21.5 million in the development of Dogwood Forest of Acworth, a seniors housing community planned in Acworth. Solomon Senior Living Holdings LLC will serve as the project’s developer, and Trinity Lifestyles Management, Solomon’s affiliated management company, will manage the community under a long-term agreement with CNL Healthcare Trust. Dogwood Forest of Acworth will be a three-story building totaling nearly 85,000 square feet with 46 assisted living units and 46 memory care units. This is the second seniors housing development project for CNL Healthcare Trust.