LOS ANGELES — Goldman Sachs Asset Management (GSAM) Private Real Estate has purchased a 161,610-square-foot distribution center in the Mid Counties submarket of Los Angeles for an undisclosed sum. The Class A facility is located at 12252 Whittier Blvd. The property is fully leased to one tenant. John Repstad and Mark Repstad of Realty Advisory Group represented both the buyer and seller, Terreno Realty Corp., in this transaction.
CUPERTINO, CALIF. — Harbor Group International (HGI) has purchased Torre Plaza, an 88,580-square-foot office complex in Cupertino, for $66.2 million. The Class A property is situated near the 280 and 85 freeways. It is fully leased. This is HGI’s second Cupertino acquisition in the past five months.
DENVER — Inline Distributing Co. has purchased its new 69,550-square-foot industrial facility at Crossroads Commerce Park in Denver. The building is situated along 52nd Avenue just west of Washington Street in unincorporated Adams County. Construction on the facility commenced last fall. It was completed in early June. Murray & Stafford was the general contractor, while Ware Malcomb acted as architect. JLL’s Nick Steitz represented the construction products supplier, while NKF’s Mike Wafer, Tim D’Angelo and Mike Wafer Jr. represented the seller, Trammell Crow Co., in this transaction.
FULLERTON, CALIF. — Morningside, a seniors housing community in the Orange County city of Fullerton, has completed a $1.6 million expansion of its outdoor amenities. Morningside added a pitch-and-putt golf course and a pickleball court on 4 acres of vacant land. The project included a $100,000 habitat restoration project through the California Department of Fish and Game and the Army Corps of Engineers. This is the most recent of several expansion and renovation projects at the community. The dining and kitchen areas were recently renovated, and the wellness center was expanded to include a spa and fitness area. The community room also underwent a $2 million redevelopment.
DENVER — Swisslog Healthcare has signed a 10-year lease for 29,731 square feet of office space in Denver. The space is situated within the 90-acre Circle Point Corporate Campus at Circle Point 2. The lease was part of Swisslog Healthcare’s goal to relocate its global headquarters from the Montbello industrial neighborhood to the tech-savvy Northwest Corridor. JLL’s Jason White, Billy Byrne and Mitch Zatz represented the material transport, medication management and supply chain management services and solutions provider. The company will take occupancy in January 2018.
SACRAMENTO, CALIF., AND LOS ANGELES — Decron Properties has traded a 264-unit multifamily property in Sacramento, plus some cash, to Sequoia in a direct exchange for a two-property, 504-unit apartment portfolio in Simi Valley. The combined value of the properties was estimated at $193 million. Decron acquired the 372-unit the Villas and the 132-unit Overlook for $141 million. Both communities are situated on Country Club Drive within half a mile of each other in the 4,000-acre Wood Ranch master-planned community. Sequoia took title to Broadstone at Strawberry Creek, a 264-unit apartment community in the Sacramento suburb of Elk Creek, for $52 million. Broadstone was Decron’s first investment in Northern California when they acquired the property in June 2012. Stan Jones, Philip Saglimbeni, Salvatore Saglimbeni, Gregory Harris, Kevin Green and Joseph Grabiec of Institutional Property Advisors represented both Decron and Sequoia in the transaction. The trade required more than 15 lawyers across five law firms.
PORTLAND, ORE. — Core Spaces has broken ground on The Collective on 4th, a 569-bed multifamily community located near Portland State University in Portland. The property will target students, as well as young professionals, families and empty nesters. The development is set to include studio, micro-, one- and two-bedroom units alongside two- and three-bedroom townhomes. Outdoor amenities will include bocce ball courts, fire pits, barbecues, private terraces and a fourth-floor terrace with a hot tub. A fitness center, business center, rooftop chef’s kitchen and lounge, Pilates/yoga space and sauna and steam room will also be included at the property. The project is scheduled for completion in summer 2019.
PARAMOUNT, CALIF. — Faris Lee Investments has brokered the sale of two freestanding, single-tenant retail buildings located on a 1.5-acre land parcel at 8819 Alondra Blvd. in Paramount. A private investor acquired the properties, which total 15,772 square feet, for $12.5 million. A 13,972-square-foot CVS/pharmacy and a 1,800-square-foot Starbucks Coffee occupy the buildings. Nicholas Coo and Joseph Chichester of Faris Lee Investments represented the seller, a private family company, while RE/MAX Premier Properties represented the buyer in the deal.
PORTLAND, Ore. — Senior Living Investment Brokerage has arranged the sale of Tabor Crest Memory Care, a 27-unit memory care community in Portland. The price was not disclosed. Tabor Crest was built in 2004 and expanded in 2008. Totaling 11,335 square feet on a 21,700-square-foot infill plot, the beds could potentially be expanded from 30 to 38. The buyer was an affiliate of Granite Investment Group. The new owner has leased the property to Avalon Health Care Group. This is the buyer’s first acquisition in Oregon with the plans to continue to acquire in the state. The seller was not disclosed. Jason Punzel and Brad Goodsell of Senior Living Investment Brokerage handled the transaction.
SAN DIMAS, CALIF. — Marcus & Millichap has arranged the sale of Bonita Canyon Gateway, a retail property located at 671 E. Bonita Ave. in San Dimas. An undisclosed developer sold the 7,860-square-foot property for $2.1 million. At the time of sale, the shopping center was 78 percent occupied. Richard Longobardo of Marcus & Millichap represented the seller. The name of the buyer was not released.