EL CAJON, CALIF. — A 43,480-square-foot retail building in El Cajon has sold to Securities Real Estate Fund 2012, LLC for $5.95 million. The property is located at 1571-1641 Magnolia Ave. The buyer was represented by Eileen Schuler of Schuler Commercial Real Estate. The seller, CCMS 2005-CD1 El Cajon Retail, LP, was represented by Joe Yetter, Mike Clark and Brent Williams of Cassidy Turley San Diego.
VISTA, CALIF. — Select Supplements has leased a 39,672-square-foot industrial space within OakRidge Business Center III in Vista. The center is located at 2390 Oak Ridge Way. Isaac Little and Marko Dragovic of Lee’s North San Diego County office represented both the tenant and the landlord, SR Commercial, in this transaction.
MESA, CALIF. — Mitel Networks Corporation has signed a 5.5-year lease for 38,157 square feet of warehouse space at Broadway 101 Commerce Park in Mesa. The warehouse is located at 2160 W. Broadway Road. Mitel plans to use the space as its warehouse distribution center. The company will relocate from its current facility in Tempe this fall. Mitel was represented by Robert Stephens and Tricia Gumulka of Newmark Grubb Knight Frank. The landlord, Lincoln Property Company, was represented by Mike Haenal and Mark Tuite of Cassidy Turley in this transaction.
SOUTH LAKE TAHOE, CALIF. — The 262-room Best Western Plus Timber Cove Lodge in South Lake Tahoe has sold to Urbana Realty Advisors for an undisclosed sum. The seller, the property’s original developer, was represented by Tom Sommer and Mike Armstrong of HREC Investment Advisors.
AUBURN, ALA. — Hull Storey Gibson has acquired the 523,948-square-foot Village Mall in Auburn. Belk, Dillard's, JC Penney and Sears anchor the center. The buyer plans to enhance the appearance and shopping experience of the mall by making gradual improvements and reconfigurations, such as displaying historical photographs that celebrate the history of the area.
TEMPLE HILLS, MD. — Rockville, Md.-based The Donaldson Group has finished a $6 million renovation of the 459-unit Heather Hill, an apartment community located at 5837 Fisher Road in Temple Hills. The new amenities include a fitness center, business center and a youth education/activity room. The refurbished apartments have modern kitchens, updated bathrooms with water-conserving features, new carpeting, individual washer-dryer units, new windows, sliding doors and new balcony railings. The Donaldson Group acquired the property with equity partner, New York-based Angelo, Gordon & Co. in 2010.
YULEE, FLA. — The Roseview Group has announced the sale of the 33,707-square-foot Amelia Station and a 13.62-acre development tract located at the intersection of State Road 200 and Amelia Concourse in Yulee, for $2.8 million. Purchased by a California-based investor, the tract has development rights for an additional 108,000 square feet of retail or office space. Winn-Dixie anchors the center, which contains a Domino’s Pizza, Dollar Store and many local restaurants. The property is 71 percent leased. Cliff Taylor of CBRE Group represented the seller, The Roseview Group’s bank client, in the transaction.
BALTIMORE — Lexington Realty Trust has arranged a $55 million loan for the 476,000-square-foot Transamerica Tower, an office building located in Baltimore. The mortgage loan carries a fixed interest rate of 4.32 percent. The Transamerica Tower is 95 percent leased.
CHATTANOOGA, TENN. — Beech Street Capital has closed on a $23.5 million FHA-insured loan to refinance the 316-unit Carriage Parc Apartments, a multifamily complex located in Chattanooga. The fixed-rate loan has a 35-year term with a 35-year amortization schedule. Chad Thomas Hagwood from Beech Street’s Birmingham, Ala., office originated the loan.
BALLWIN, MO. — Ramco-Gershenson Properties Trust has purchased Central Plaza, a 175,143-square-foot shopping center in Ballwin, for $21.5 million. Central Plaza is located along Manchester Road and is anchored by buybuy Baby, Ross Dress for Less, JoAnn and Office Max. Additional retailers include Tuesday Morning, Five Below and Famous Footwear. Ben Wineman of Mid-America Real Estate Group-Missouri LLC and Scott Seyfried of Pace Properties represented the seller, Pace Properties, in the transaction. The buyer was self-represented.