SANTA ANA, CALIF. – A 20,556-square-foot industrial buildingin Santa Ana has sold to Wendy Chai for $2.06 million. It is located at 1513 E. Saint Gertrude. Chai was represented by Matthew Christianson of Jones Lang LaSalle. The seller, Vincent Servin, was represented by John Collins and Kevin Thomas of Lee & Associates’ Newport Beach office.
AURORA, COLO. – The 320-unit Vistas at Saddle Rock apartment community in Aurora has sold to Advenir for $45.2 million. This is the highest price per unit ever paid for a multifamily asset in Aurora, according to ARA, which represented the seller, Bascom Group, in this transaction. The community was built in 2002 and updated in 2009 and 2010. It is currently 95 percent leased. Bascom was represented by principals Terrance Hunt, Shane Ozment, Doug Andrews and Jeff Hawks.
RIVERSIDE, CALIF. – A pair of distribution buildings in Riverside have received a forward commitment of $17.7 million. The properties contain a total of 850,000 square feet spread out among four tenants. The funding was arranged by Carl Fuller of the Alison Company through a correspondent life insurance company. The seven-month forward commitment is for a 10-year loan with a 25-year amortization period.
SONORA, CALIF. – Downtown Sonora Plaza, a 40,600-square-footshoppingcenter, has sold to Dwares Group for a little more than $3 million. The center is currently 94 percent leased. Notable tenants include anchor Save Mart, along with a regional pharmacy and community bank. Dwares plans to renovate the property. The company was represented by Patrick Follett and Jon Gianulias of Core Commercial. Follett also represented the unnamed seller.
LOS ANGELES – Ultimate Off Price has signed a 10-year lease for 41,328 square feet in Downtown Los Angeles. The space is located at 1615 E. 15th Street in the city’s garment district. The lease, which will commence in January 2013, is valued at $3.56 million. Ultimate Off Price was represented by Jerry Sackler of Daum Commercial’s Downtown office. The landlord, Western States Technologies, was represented by Jeff Thompson of the same office.
ATLANTA — Boca Raton, Fla.-based Crocker Partners has acquired the 18-story, 432,000-square-foot Class A Prominence office building in Atlanta’s Buckhead submarket for $105 million. Crocker Partners owns and manages approximately 2.5 million square feet of office space in the Atlanta market. “Our strategy focuses on top-tier assets in second-tier cities,” says Tom Crocker, managing partner with Crocker Partners. TIAA-CREF and Equity Office Properties sold the property, which was under contract this past summer.
LADY LAKES, FLA. — Orlando, Fla.-based CNL Healthcare Trust and Vero Beach, Fla.-based Harbor Retirement Associates (HRA) have broken ground on the $21.6 million HarborChase of Village Crossing, an assisted living community on Route 441 across from The Villages Regional Hospital in Lady Lakes. The community will include a two-story building with 96 units and approximately 91,000 square feet of space. HRA will provide management services upon the community’s completion in late 2013.
LEXINGTON, VA. — Nelson Street Realty LLC, an affiliate of Charlotte, N.C.-based Morgan Property Group, has sold 3.14 acres of land on East Nelson Street and U.S. Route 11A in Lexington for $2.1 million. Altoona, Pa.-based Sheetz Inc., a family owned and operated convenience store chain, has signed a ground lease for the development of a convenience store. The City of Lexington approved the land for construction late last summer. Marcus & Millichap represented Nelson Street Realty and Marstellar Realty represented the unlisted buyer.
LAKE WORTH, FLA. — An 18-acre parcel of land at 4411 S. Congress Ave. in Lake Worth has sold for $2 million to Morguard Coral Lakes LLC, an affiliate of Kenner, La.-based Morguard Management Co., that is approved for 169 townhouses. FCB Palm Beach Holdings LLC, an affiliate of Florida Community Bank, sold the site that is located west of Palm Beach State College and north of JFK Medical Center. Fort Lauderdale, Fla.-based Brenner Real Estate Group’s Reese Stigliano represented Morguard Coral Lakes and the seller was self-represented.
CHICAGO — HFF has arranged a $47 million loan for 77 West Huron, a 25-story apartment tower with ground-floor retail space in Chicago's River North neighborhood. Matthew Schonefeldt led the HFF team that negotiated the 10-year loan through New York Life Insurance Co. 77 West Huron features luxury units that range in size from 536 to 2,862 square feet. Amenities include doorman service, a laundry room, bicycle storage and 192 parking spaces. The borrower, L&B Realty Partners, is currently renovating and upgrading the property.