SAN DIEGO – A 38,419-square-foot office building in San Diego has sold to Dehghani Properties, LLC for $5.5 million. The property is located at 5151 Murphy Canyon Road. It was fully leased at the time of sale. Dehghani represented itself in the sale, while Paul Lafrenz, Paul Komadina and Melissa Foster of the CBRE San Diego Private Capital Group and Scott Kincaid, also of CBRE, represented the seller, Barrington Corp.
ANAHEIM, CALIF. – A 26,033-square-foot industrial building in Anaheim has sold to DG Performance for $3.3 million. It is located at 4100 E. La Palma Ave. DG Performance plans to occupy the entire building. Seth Davenport and Mitch Zehner of Voit’s Anaheim office represented the buyer. The seller, Simon Ozkan, was represented by Derek Paul of Ashwill Associates.
DENVER – A 40-unit apartment complex next to the University of Denver campus has sold to DU Intrados, LLC for $3.25 million. The community is located at 1961-1967 S. Josephine Street. Kevin Calame and Matt Lewallen of Pinnacle Real Estate Advisors, LLC represented both the buyer and the seller, Larry Kane, in this transaction.
BOSTON — Boston-based STAG Industrial has acquired a six-property industrial portfolio for $30.6 million. The buildings, which total more than 772,000 square feet, are located in Connecticut, Florida, North Carolina, South Carolina, New York and Texas. The properties include three warehouse and distribution facilities and three light manufacturing buildings and are fully leased to three tenants. The acquisition is the first transaction resulting from STAG's recent agreement with Columbus Nova Real Estate Acquisition Group to source sale-leaseback transactions for the company.
KNOXVILLE, TENN. — Knoxville-based Ruby Tuesday has sold 10 of its restaurants to three buyers for a total of $22 million. A Southern California-based private investor purchased six properties in Georgia, South Carolina, North Carolina and Virginia for $12.8 million. Two Virginia properties sold to private individuals for $1.99 million and $2.09 million, and California-based Mare Living Trust acquired properties in Delware and North Carolina for $2.1 million and $2.7 million, respectively. Matt Mousavi of Faris Lee Investments represented the seller in all transactions, as well as Mare Living Trust.
FAIRFAX CITY, VA. — NAI KLNB has arranged the $4.1 million sale of a 19,000-square-foot office building, located at 4010 University Drive in Fairfax City. The property is fully leased to a variety of professional service companies including law practices and accounting firms. Josh Simon and Marc Tasker of NAI KLNB represented the buyer, 4010 University LLC. Also, Bill Prutting of CBRE represented the seller, Extra Billy Smith Partnership.
WEST PALM BEACH, FLA. — The two-building Flagler Center has completed a $2 million renovation. The properties include a 90,000-square-foot office tower located at 501 N. Flagler Drive and a 155,000-square-foot tower located at 505 N. Flagler Drive in West Palm Beach. The interior renovation included an overhaul of the lobbies with new lighting, Italian marble floors, custom artwork and contemporary furniture. The exteriors received lush new landscaping, an updated outdoor patio area and granite bistro tables. A second $1 million renovation is planned to update the chiller plants to improve energy efficiency.
RIVERVIEW, FLA. — Alliant Capital has arranged $14.5 million in refinancing for the 204-unit Park at Kensington Apartments, a garden-style complex located in Riverview. The 10-year, fixed-rate loan has a 30-year amortization schedule.
CHICAGO — Jones Lang LaSalle has completed three industrial lease transactions totaling more than 225,000 square feet in Chicago's western suburbs. CoreCentric Solutions inked a lease for 106,731 square feet at 1575 Hunter Rd. in Hanover Park, Ill. Dominic Carbonari and Frank Griffin of Jones Lang LaSalle represented the building's owner, Cabot Properties, in the transaction. Carbonari and Griffin also represented Cabot in the lease of 51,500 square feet to Cary Co. The 101,640-square-foot building is located at 1005 W. Republic Dr. in Addison, Ill. Additionally, Carbonari, Griffin and Jones Lang LaSalle's Keith Stauber arranged the lease of a 67,932-square-foot industrial building at 888 N. Central Ave. in Wood Dale, Ill., to St. George Warehouse Co. The team represented the building's owner, ML Realty Partners, in the deal.
NORTHFIELD, ILL. — Summit Design + Build will construct a 16,000-square-foot office and warehouse build-out for OfficeNation Inc. at 500 N. Central Rd. in Northfield. OfficeNation is a mail order/direct deal for computer products and will be relocating from its current operations in Northbrook, Ill., to the new Northfield location. Construction plans include the build-out of a large open office area, conference rooms, employee lounge and loading dock. Stuart Cohen & Julie Hacker Architects will provide architectural services for the project. Completion is scheduled for the third quarter of this year.