MURRIETA, CALIF. – The 60,390-square-foot Margarita Center in Murrieta has sold to Mon Mon, LLC for $8.5 million. Mon Mon plans to lease the center’s remaining vacant space. The company was represented by Todd Holley in Voit’s San Diego office. CBRE’s John Read, Patrick Toomey and Phillip Voorhees represented the seller, MS Kearny CPB 3 LLC.
BELLEVUE, WASH. – The Avalon Meydenbauer Shopping Center in Bellevue has received $6.8 million in financing. The mixed-use development was built in 2007 and contains a North Building and a South Building. The North Building features 9,601 square feet of retail, while the South Building boasts 9,837 square feet of retail for a total of 19,438 square feet. The center also features a 55,000-square-foot Safeway and five levels of apartments atop the retail. Neither was included in this collateral. Financing was arranged by John M. Stewart and Brock Yaffe out of NorthMarq’s Denver office for the California-based borrower.
SAN BERNARDINO, CALIF. — Grant & Bowman have signed a 36-month lease for a 141,200-square-foot industrial space at 1050 Orange Show Road in San Bernardino. The company was previously located in nearby Ontario. It was represented by Jeff Smith of Lee & Associates’ Ontario office. The landlord, Investment Building Group, was represented by Herrick Johnson of Lee & Associates’ Riverside office.
WASHINGTON, D.C. — A joint venture between New York City-based The Rockefeller Group and New York City-based Mitsubishi Estate New York has acquired a 347,608-square-foot office building, located at 1100 First St. NE in Washington, D.C., from Eastdil Secured. According to CoStar, the sale price was $180 million. The 12-story building is LEED Gold certified, and is 95 percent leased to tenants including the Department of Veterans Affairs, the Federal Energy Regulatory Commission and Mathematica Policy Research. Both parties were self-represented in the transaction.
WOODLAWN, MD. — The 363,674-square-foot Rutherford Business Park, a 13-building office portfolio located in Woodlawn, has been sold for $32.5 million. The buildings include 7102, 7104, 7106, 7108, 7125, 7127, 7129, 7131 and 7210 Ambassador Rd.; 15, 17 and 21 Governor's Ct.; and 7152 Windsor Blvd. Jonathan Carpenter and James Wellschlager of Cassidy Turley's Baltimore office represented the seller, Columbia, Md.-based Corporate Office Properties Trust, in the transaction. The buyer, a joint venture between Chicago-based Blue Vista Capital Partners and Maryland-based CSG Partners, was self-represented.
SPRING HILL, TENN. — San Diego-based Excel Trust has purchased the 496,604-square-foot Crossings of Spring Hill, located at the intersection of U.S. Highway 31 and Saturn Parkway, from Brentwood, Tenn.-based GBT Realty Corp. for $31 million. Tenants include SuperTarget, Kohl's, Bed Bath & Beyond, PetSmart, Ross Dress For Less, Books-A-Million, Dollar Tree, maurices, Hibbett Sports, Moe's Southwest Grill, Kirkland's, O'Charley's, Olive Garden, Logan's Roadhouse and Cracker Barrel. Doug Hazelbaker and Ryan Shore of HFF's Dallas office represented the seller in the transaction.
LARGO AND WINTER SPRINGS, FLA. — Cole Whitaker and Hal Warren of Hendricks & Partners' Orlando, Fla., office have arranged two multifamily sales for a total of $30.6 million. The 278-unit Waterchase, located at 401 Rosery Rd. NE in Largo, sold for $14.75 million. Whitaker and Warren represented Largo Westmarc LP., the seller, in the transaction. The buyer was Chicago-based Westdale Investment Partners. The 208-unit Chatham Pines, located at 1020 Chatham Cir. in Winter Springs, sold for $15.85 million. Whitaker and Warren represented Chatham Pines Apartments LLC, the seller, in the transaction. Seminole-Winter Springs Associates purchased the property.
WAKE FOREST, N.C. — Marcus & Millichap has negotiated the $3.62 million sale of the 21,860-square-foot Shoppes of Heritage, located at 3325 Rogers Rd. in Wake Forest. The center is fully leased to tenants including Little Caesar's, O'Dwyer's Pub, Triangle Dry Cleaning, Davinci's Pork Store, Wine 101, State Farm Insurance, Sunset Rayz, Wine & Design, Amy Nails and Hair 180. Andrew Margulies of Marcus & Millichap's Raleigh, N.C., office represented the seller, a Raleigh, N.C.-based private partnership, in the transaction. The buyer was a Chapel Hill, N.C.-based private investor.
CHICAGO — A joint venture between AJ Capital Partners and an affiliate of Chicago-based Walton Street Capital has purchased the Sutton Place Hotel in Chicago for an undisclosed amount. The 22-story property includes 246 rooms, a restaurant and bar and 7,160 square feet of meeting space. Peter Greene, Bill Stone, Deborah Borotsik and Mark Sparrow of CBRE Hotels represented the seller, Chicago Grande Inc., in the transaction.
SOUTH BEND, IND. — The Boulder Group has completed the $1.1 million sale of a triple net-leased Dollar General property, located at 4123 Western Ave. in South Bend. The 9,014-square-foot building is leased on a 15-year triple net basis to Dollar General. Randy Blankestein and Jimmy Goodman of the Boulder Group represented the buyer, a Chicago-based individual investor, in the transaction. The seller was a Midwest developer.