WEST COVINA, CALIF. – The 65-unit West Covina Senior Villas has received a $3.2-million refinance loan. The loan on this newly built property features a 5 percent fixed interest rate, a 30-year term and a30-year amortization schedule. The funds were arranged by Dale Holzer of Alliant Capital LLC.
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RIVERSIDE, CALIF. – A 39,900-square-foot distribution center in Riverside has sold to Dmitriy Burkovskiy, owner of Mile Transport, for $3.2 million. The center is located at 1075 Mt. Vernon Ave. Burkovskiy was represented by John Seoane of Lee & Associates Ontario. The seller, Cornerstone Realty Advisors, was represented by Voit Real Estate Services.
LEHI, UTAH — Perry & Associates will develop Traverse Ridge Center I, a 70,000-square-foot office building in Lehi, in March 2013. The building will be built near the new Adobe Campus, Cabela's and the Outlets at Traverse Mountain as part of a 22-acre, mixed-use campus. Construction is scheduled for completion in May 2014. Eric Smith, Kreg Peterson, James Mecham and Jessmine Kim of CBRE will serve as the leasing agents.
OAKLAND, CALIF. – A 520,000-square-foot high rise office building in downtown Oakland that serves as the headquarters for Clorox has been purchased by Westcore Properties, dba Westcore City Center LLC. The purchase price was not disclosed. Clorox has occupied and owned the building since 1988. It is located at 1221 Broadway. Clorox has another 15 years remaining on its lease with options to renew for an additional 15 years. It occupies 57 percent of the building. The remaining space will be marketed by Cushman & Wakefield. The sales transaction was executed by Craig Zodikoff and Brad Metzger of Cresa and Brett Holden of Lee & Associates.
RIALTO, CALIF.– The Shoppes at Creekside, a 17,480-square-foot retail center that is anchored by Fresh & Easy and Walgreens, has sold to a private LLC for $5.1 million. It is located at 2019 North Riverside Ave. Other notable tenants include Fitness 19, Corky's Bakery and Sal y Limon. Rick Raymundo of Marcus & Millichap represented the buyer in this transaction.
OVIEDO, FLA. — Central Florida Regional Hospital, an affiliate of Hospital Corp. of America, has broken ground on a $9.7 million freestanding emergency department on 26 acres at the intersection of Red Bug Lake Road and State Road 417 in Oviedo. The 11,000-square-foot, state-of-the-art satellite facility will operate as a full-service emergency room providing 24/7 emergency care for both pediatric and adult patients. It will also offer comprehensive emergency services including a dedicated trauma room as well as laboratory and imaging services. The single-story emergency care center will include 12 private patient care rooms, a waiting area, nurse station, restrooms and support areas. It will open next fall and employ 35 full-time staff and four emergency care physicians. Charles Perry Partners Inc. (CCPI) is the healthcare project’s construction manager. CCPI specializes in healthcare, institutional, educational, government and commercial construction.
VIRGINIA BEACH, VA. — Pacolet Milliken Enterprises Inc. and Republic Station LLC have entered into a joint venture to own the new Whole Foods Market in the Hilltop area of Virginia Beach. The 40,000-square-foot freestanding grocery store is located at 1800 Laskin Rd. and opened this past October. The joint venture purchased an ownership interest from the developer, S.J. Collins Enterprises. It is the 14th addition to Pacolet Milliken Enterprises’ grocery store portfolio in the past 26 months.
CHARLOTTE, N.C. — Charlotte-based SYNCO Properties Inc., on behalf of Associated Realty Investors/500 East Morehead Limited Partnership, has sold 500 East Morehead Street, a 43,000-square-foot office building in Charlotte’s Midtown submarket. An entity sponsored by Charlotte-based Beacon Partners acquired the property for $5.25 million. The three-story building was built in two phases in 1960 and 1963. It fronts East Morehead Street adjacent to the Dowd YMCA. SYNCO Properties and its investing partners purchased 500 East Morehead Street in 1982 for $1.3 million. Tim Hose of SYNCO Properties represented the seller, and Mike Harrell of Beacon Partners represented the buyer.
LARGO, FLA. — The 37,574-square-foot Champions Center shopping center has sold for $2.65 million at 3690 E. Bay Dr. in Largo. Mike Milano and Ron Schultz of Colliers International Tampa Bay represented the seller, JPMCC 2005-CIBC13 East Bay Drive LLC. The buyer, Cantor Spellman Family Partnership LLP, represented itself. The center was 66 percent occupied at the time of the transaction. Outback Steakhouse is Champions Center’s major tenant. Other tenants include Kut Doctors Barbershop, Color Pages, Miracle Ear, Vitamin Outlet, Select Staffing, Next Step Rehab, Allstate and West Shore Pizza.
GREENWOOD, S.C. — Greenville, S.C.-based Carolina Holdings has sold the two-tenant Shops at Westwood on Highway 72 Bypass in Greenwood. The property is fully leased to Mattress Firm and Aspen Dental. Carolina Holdings developed the retail property, which is situated in front of Walmart, and will continue to serve as manager on behalf of the new ownership. McMillan Pazdan Smith was the project architect and Caldwell Construction was the general contractor.