PHOENIX — Pacifica Real Estate Group LLC has purchased a 108,287-square-foot distribution building in Phoenix for $6.25 million. The building was constructed in 1994 and is fully leased to Tharco. Joe Porter, Pat Feeney, Dan Calihan and Rusty Kennedy of CBRE’s Phoenix office, and Scott Schumacher and Kevin Shannon from the firm’s Torrance, Calif., office represented the seller, The Realty Associates Fund VI LP.
COLTON, CALIF. — Best Drilling and Pump has purchased 9.8 acres of industrial land in Colton for $2,338,934. The drilling and testing company plans to occupy about 5.3 acres of the land after it relocates from its current location in Bloomington, Calif. NAI Capital, which represented both the buyer and the seller, SRC Pellisier, has been retained to lease the remaining 4.5 acres. Teresia Knight of the firm’s Ontario, Calif., office worked directly with the parties on this transaction.
SAN DIEGO — IDS Realty JV II has purchased a 411,245-square-foot industrial/warehouse building in the Kearny Mesa submarket of San Diego for an undisclosed sum. The multi-tenant building is currently 85 percent leased. IDS was represented by IDS Real Estate Group in this transaction. CBRE’s Jack Fraker, Darla Longo, Barbara Emmons, Louay Alsadek, Rob Merkin and Brent Wright represented the seller, who was not named.
SAN DIEGO – The 18-unit Hamilton Apartments in the University Heights neighborhood of San Diego has sold to Beachfront II LP for $2,225,000. The complex was built in 1968 and is currently 100 percent leased. Beachfront was represented by ACI’s Dennis Leslie. The seller, Inter Vivos Trust, was represented by Dave Savage, also of ACI.
DECATUR, GA. — Cushman & Wakefield has negotiated the sale of the 122,000-square-foot 160 Clairemont, a Class A office building located at 160 Clairemont Ave. in Decatur. The building was 78 percent leased at the time of the sale. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield's Atlanta office represented Lexington Realty Trust, the seller, in the transaction. Miami-based Parmenter Realty Partners was the buyer.
CORAL SPRINGS, FLA. — The 21,200-square-foot Brookside Square, a Publix-shadow anchored retail property located at 10611 Wiles Rd. in Coral Springs, has sold for $2.42 million. Barry Wolfe of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, an individual/personal trust, in the transaction and procured the buyer, a limited liability company.
GASTONIA, N.C. — Calkain Cos. has arranged the $2.3 million sale of a 10,900-square-foot retail property, located in Gastonia. Andrew Fallon of Calkain Cos.' Bethesda, Md., office represented the buyer, a mid-Atlantic real estate investor, in the transaction. Simon Jonna and Raymond Jonna of Marcus & Millichap represented the seller. The property is leased to Rite Aid under a long-term, triple net lease.
CHARLOTTE, N.C. — Percival McGuire Commercial Real Estate Development has completed a $1.4 million, 9,100-square-foot Dollar General, located at 6542 Statesville Rd. in Charlotte. The ground-up development started in August.
ATHENS, GA. — Beech Street Capital has secured a $19.85 million refinance loan for the 352-unit Legacy Mill Apartments, located at 125 Jennings Mill Pkwy. in Athens. Chad Hagwood of Beech Street's Birmingham, Ala., office secured the 10-year loan with a 30-year amortization schedule.
CHICAGO — Canyon-Johnson Urban Funds and a joint venture between Vermillion Development Inc. and JFJ Development, will work together on a $106 million redevelopment of the mixed-used Harper Court in the Hyde Park neighborhood in Chicago. The two phase project will include the construction of a 150,000-square-foot office tower and more than 425 residential units. James McHugh Construction Co., the project's general contractor, has begun to mobilize the Harper Court site. The project is slated for completion in 2013.