NORTH HOLLYWOOD, CALIF. — Two North Hollywood apartment buildings have sold to MKJS Enterprises. The apartment buildings were part of an eight-property, 256-unit portfolio. They include the 26-unit Valley Laurel located at 7733-7739 Laurel Canyon Blvd. and the 24-unit Ellen Laurie located at 7725 Laurel Canyon Blvd. They sold for $2,550,000 and $2,397,000, respectively. Both transactions were executed by Chris Malcolm and David J. Harrington on behalf of both the buyer and seller, Ellen Laurie Limited / Valley Laurel, LTD.
SAN DIEGO — A 26,676-square-foot, single-tenant office buildingin San Diego has sold to NBTK Holdings LP for $6,012,325. It is located at 1843 Hotel Circle South. The building is fully leased by TASC, a defense contractor. Chuck Wasker and Mark McEwen of Colliers International represented both the buyer and the seller, Marcopoulos Venture Fund III. Mike Paeske of CFI and Jeff Ryan of Ryan Real Estate Advisory assisted in this transaction.
SAN DIEGO — Layfield Environmental Systems Corporation has signed a seven-year lease for 67,344 square feet of industrial space in the East County submarket of Spring Valley. It is located at 2500 Sweetwater Springs Blvd. Layfield will be expanding and relocating from El Cajon. This was the largest industrial lease signed in East County in the past five years, according to Cassidy Turley San Diego, which represented Layfield. Kerry Schimpf and Cameron Czubernat led the Cassidy Turley team. The landlord, Rancho San Diego Industrial Center LLC, was represented by CBRE’s Ron Bement.
HICKORY, N.C. — Charlotte, N.C.-based Selwyn Property Group has acquired the 70,000-square-foot Hickory Plaza, a retail center located at the intersection of Highways 321 and 70 in Hickory. Roses anchors the center, which is 70 percent leased. Bill Simerville of Cassidy Turley represented Faison, the seller, in the transaction. The buyer was self-represented.
MIAMI — Link Construction Group has finished the $2.9 million, 15,000-square-foot Olga Maria Martinez Senior Center, located near Kendall Drive and SW 152nd Avenue in Miami. The two-story facility will provide adult daycare services and features classrooms, activity rooms, a main gathering hall, a lunch meal site and supporting office spaces. Little Havana Activities and Nutrition Center developed the property with a series of state and local grants. Vidal Architects designed the center.
ST. PETERSBURG, FLA. — Marcus & Millichap has arranged the $1.82 million sale of the 50-unit Crescent Lake, a multifamily property located at 1801 5th St. N. in St. Petersburg. Michael Donaldson of Marcus & Millichap's Tampa, Fla., office represented both parties in the transaction.
JACKSONVILLE, FLA. — Jax Hotel has sold the 112-room Hampton Inn East, located at 1021 Hospitality Lane in Jacksonville, to Sun Coast Hospitality. The buyer plans to renovate the hotel. David Mumford of Mumford Co.'s Newport News, Va., office, along with Steve Kirby of the firm's Atlanta office, represented the seller in the transaction.
WILMINGTON, N.C. — Grandbridge Real Estate Capital has secured $6.5 million in first mortgage financing for two office buildings located on the Miller-Motte College campus in Wilmington. The buildings total 80,595 square feet, and include classrooms, laboratories, a library, student lounge and offices. Robert Hukill of Grandbridge arranged the 12-year, fully amortized loan through Coastal Federal Credit Union.
CHICAGO — Wells Core Office Income REIT has purchased Four Parkway North, a five-story office property in Chicago, for a reported $40.9 million. John Buck Co.'s JBC Fund III was the seller. Built in 1999, the 172,000-square-foot building is located just off of Interstate 94 and the Tri-State Tollway. The property is fully leased to four tenants: CF Industries Holdings, Lundbeck, Randstad Pharma and Amgen USA. Wells Core was self-represented by Peter Mitchell in the transaction.
ELGIN, ILL. — Inland Real Estate Acquisitions has paid $25 million to buy South Elgin Commons, a 128,000-square-foot shopping center in Elgin. The property is fully leased and anchor tenants include Ross Dress For Less and Toys “R” Us. The purchase also includes an undeveloped lot next to Ross Dress For Less that could add an additional 11,000 square feet to the retail center. Inland Real Estate was was self-represented in the transaction by Lou Quilici. Inland reports the average income within a three-mile radius of the center is $123,000 per year.