NORTH HOLLYWOOD, CALIF. — Marcus & Millichap has arranged the acquisition of a four-building retail/office property located at 11305-11335 Magnolia Blvd. and 5215 Bakman Ave. in North Hollywood. Elijah 27 LLC acquired the 20,139-square-foot property from a family trust for $7 million. Martin Agnew, Jessica Kelley and Ryan Rothstein-Serling of Marcus & Millichap represented the buyer, while Scott McCauley of Corporate Realty Services represented the seller in the 1031 exchange.
LONG BEACH, CALIF. — CBC Advisors Orange County has arranged the $3.5 million sale of Orange Plaza, a 19,840-square-foot retail strip center located in Long Beach. Daniel Tyner and Scott Hook of CBC represented the undisclosed seller in the sale of the property to a private, all-cash buyer. Tenants at the center include Subway and Domino’s Pizza.
ESCONDIDO, CALIF. — Lee & Associates has arranged the purchase of a gas station station site located at 2825 Auto Parkway in Escondido. ASAP Investments acquired the 28,750-square-foot lot, which includes a 1,050-square-foot retail/service station, for $2 million. The buyer plans to rebrand the site, which was formerly a Valero, as an independent gas station. Trent France of Lee & Associates – North San Diego and Kent Moore of Palomar Commercial represented the buyer, while Mack Langston and Kris Boehmer of Pacific Coast Commercial represented the seller, KGD Enterprises, in the deal.
NATIONAL CITY, CALIF. — Pacific Coast Commercial arranged the acquisition of a drive-thru building and lot located at 1825 Highland Ave. in National City. Sire Trust acquired the 800-square-foot building and 10,125-square-foot site from Officer Family Partnership for an undisclosed price. Weinerschnitzel restaurant occupies the building. Martin Alfaro of Pacific Coast Commercial represented the buyer, while Steve Rotsart of Coldwell Banker West represented the seller in the deal.
VANCOUVER, WASH. — Prestige Care, a Vancouver-based operator of seniors housing communities in the West, has acquired six seniors housing communities in Washington and Idaho from industry pioneer Carl Campbell. The price was not disclosed. Prestige expects the sales to close this fall. The communities will be rebranded as: Prestige Senior Living at Colonial Vista, independent and assisted living, Wenatchee, Wash. Colonial Vista Post-Acute & Rehabilitation Center, skilled nursing, Wenatchee, Wash. Prestige Senior Living at East Wenatchee, independent and assisted living, East Wenatchee, Wash. Prestige Senior Living at Hearthstone, independent and assisted living, Ellensburg, Wash. Prestige Senior Living at Karcher Estates, independent and assisted living, Nampa, Idaho Karcher Post-Acute & Rehabilitation Center, skilled nursing, Nampa, Idaho
TUCSON, ARIZ. — Core Spaces has opened Tucson II, a 104-unit student housing community located a few blocks away from the University of Arizona campus in Tucson. Tucson II offers studio, two-, three-, four- and five-bedroom, fully furnished apartments with custom designed furniture, floor-to-ceiling windows and 42-inch flat-screen televisions. Community amenities include a fitness center; spa featuring sauna and tanning beds; rooftop sundeck with pool, oversized hot tub, lounging and gaming areas and private, poolside cabanas; outdoor terrace with fire pits and custom barbecue grill; executive business center with computers and printers; and free, building-wide wi-fi.
SEATTLE — Ziegler, a specialty investment bank, has priced $130.3 million in fixed-rate bonds for Presbyterian Retirement Communities Northwest (PRCN), a nonprofit operator of three continuing care retirement communities (CCRCs) in Seattle. The bonds, which are expected to close in October, will refinance $98.9 million in existing bonds. The remaining funds will be used for renovations at Park Shore and Fred Lind Manor, two of the company’s CCRCs.
TOLLESON, ARIZ. — The Siegel Group Nevada has purchased a 442-unit Legacy Suites hotel in Tolleson for $16.6 million. The hotel was built in 2010. It will be renamed Siegel Suite Tolleson, This is the third Legacy Suites location the Siegel Group has acquired in the past 14 months. The other properties are located in Phoenix and Casa Grande.
DENVER — CommercialTribe has leased 10,473 square feet of office space in Denver’s LoDo (Lower Downtown) district. The space is located at the Guaranty Bank Building at 1331 17th St. An oil and gas firm formerly occupied the space. JLL’s Ken Gooden and David Shirazi executed this lease transaction.
MINOT, N.D. — Investors Real Estate Trust, a publicly traded REIT based in Minot, has entered into six separate sales agreements with Edgewood Senior Living and its affiliates. The deals will result in Edgewood buying 26 IRET-owned seniors housing communities and one standard multifamily community for $236 million. Edgewood already operates 25 of the 26 seniors housing communities. The deal is expected to close before the end of the year. The six separate transactions are organized like so: IRET will sell five seniors housing properties containing 386 rentable units, located in Cheyenne, Casper, and Laramie, Wyo., for a total of $53 million. IRET will sell two seniors housing properties containing 256 rentable units, both located in Hermantown, Minn., forapproximately $36.8 million. IRET will sell four seniors housing properties containing 220 rentable units, located in Virginia, Minn.; Kalispell, Mont.; and Omaha and Hastings, Neb. For approximately $32.3 million. IRET will sell five seniors housing properties containing 514 rentable units, located in East Grand Forks and Brainerd, Minn.; Bismarck and Fargo, N.D.; and Rapid City, S.D., for approximately $71 million. IRET will sell nine seniors housing properties containing 278 rental units, located in North Dakota, South Dakota, Nebraska and Montana, for approximately $28.8 …
