OXNARD, CALIF. — The Johnston Group has purchased a 115,000-square-foot office building in Oxnard for an undisclosed sum. The building is located at 1000 Town Center, within the RiverPark community. The space is adjacent to the Collection, a new 700,000-square-foot, open-air retail center. The office building was 97 percent leased at the time of sale. The seller was Equity Office Properties. The Johnston Group owns five other office properties in Westlake Village, Thousand Oaks and Simi Valley.
IRVINE, CALIF. — Greenwave Systems has signed a full-floor lease for 22,150 square feet of office space at the new 200 Spectrum Center Drive in Irvine. The space is situated within the Irvine Spectrum submarket. The global software and services company will move into the 15th floor space this fall. It will allow the company to more than double its current space at the nearby Corporate Business Center. The new lease will bring the campus to 60 percent occupancy. Other notable tenants include Mazda North America Operations, Curse Inc. and WeWork. Irvine Co. owns the building.
SONOMA, CALIF. — Strategic Storage Trust II has purchased a 340-unit self-storage facility in Sonoma for an undisclosed sum. The facility is located at 19240 Highway 12. The property contains a total of 37,800 square feet on 1.97 acres. It is about 95 percent occupied. The space was built in 1984. Strategic Storage Trust II is sponsored by SmartStop Asset Management LLC.
SCOTTSDALE, ARIZ. — Desert Troon Cos., a Scottsdale-based real estate developer, has sold a 638,717-square-foot office portfolio within the 260-acre Perimeter Center business park in Scottsdale. The buyers, Wentworth Property Co. LLC (WPC) and Northwood Investors, purchased the Class A portfolio for $122 million. Desert Troon originally developed the five-building portfolio, which features Perimeter Gateway I, II, III and V, and Terra Verde. WPC plans to start renovations to the portfolio immediately, including upgrades to the lobbies and common areas of Perimeter Gateway I, II and V, as well as adding a cafe, tenant lounge and fitness center to Perimeter Gateway I that will be available to tenants of all four Perimeter Gateway buildings. WPC also plans to convert roughly 162,000 square feet of the portfolio into spec space, with each building having two or three spec office suites. In addition, WPC plans to build two new parking garages, with construction starting in the third quarter for an estimated 2017 completion. Tom Knoell Jr. represented Desert Troon internally in the transaction, and Jeff Wentworth, Chris Walker, Mike Beall and Sean Spellman of Cushman & Wakefield represented the buyers. “As one of the premier office portfolios in the state, it has …
LAS VEGAS — Westland Pine Village LLC has acquired the 275-unit Pine Village apartment complex in Las Vegas or $16 million. The community is located at 3011 Arville St. It was 96 percent occupied at the time of sale. Pine Village was built in 1973. The new owner plans to upgrade the unit interiors. The seller was Pine Village Apartments. Brian Anderson and Angela Powers of Berkadia executed the sale.
PHOENIX — Life Care Services and Westminster Funds have completed the $13.2 million addition of 60 units of skilled nursing and memory care to Sagewood, a continuing care retirement community (CCRC) in Phoenix. The expansion doubled the size of the community’s Acacia Health Center, adding 36,300 square feet. The project included the addition of a 20-bed memory care neighborhood and 40 skilled nursing suites totaling 78 beds. The expansion also added new amenities, including three neighborhood dining rooms, three activity kitchens, three neighborhood living areas and an expanded rehabilitative therapy center. The CCRC as a whole, which totals 292 units, is currently 90 percent occupied. The Weitz Company served as the general contractor for the Acacia Health Center expansion. Architecture firm Todd & Associates and interior designers Spellman Brady Co. designed the project.
SCOTTSDALE, ARIZ. — Arcadia Sky LLC has purchased Corporate Center @ Kierland, a 107,846-square-foot office development in the Scottsdale Airpark submarket, for an undisclosed sum. The Class A asset was 88 percent leased at the time of sale. Notable tenants include American Express Global Business Travel and Berkshire Hathaway Home Services. Trent Rustan and Josh Gosnell of Commercial Properties represented the buyer. CBRE’s Barry Gabel, Chris Marchildon, Kevin Shannon, Glenn Smigiel and Bob Young represented the institutional seller.
SAN LEANDRO, CALIF. — Arbor Lodging Partners has purchased a 119-room Hilton Garden Inn Oakland/San Leandro for an undisclosed sum. The hotel is located at 510 Lewelling Blvd. The hotel features one food and beverage outlet, 1,100 square feet of flexible meeting space, a fitness center and an indoor pool. Arbor Lodging plans to invest more than $4 million to update the property. NVN Hotels will manage the asset. JLL’s Mark Fraioli and Melvin Chu represented the seller, a consortium between Cypress Hospitality, KYD and Cornerstone Hotel Group, in this transaction.
ARVADA, COLO. — Pinnacle Real Estate Advisors LLC has arranged the $4.1 million sale of Indiana Marketplace, a 14,738-square-foot shopping center located in the Denver suburb of Arvada. The property is located at 14805-14807 W. 64th Ave. Jeff Johnson and Matt Ritter of Pinnacle represented the undisclosed 1031 exchange buyer in the transaction.
LIVERMORE, CALIF. — Align Real Estate has acquired Comcast Office Center, 219,631-square-foot office campus in Livermore, for $59 million. The three-building campus serves as the regional headquarters for Comcast. The space is located at 3011, 3055 and 3077 Comcast Place in the Tri-Valley region of the greater San Francisco Bay Area. Comcast Office Center features outdoor seating, and volleyball and basketball courts. HFF’s Michael Leggett, Scott Pertel and Gerry Rohm represented the buyer and seller, Gramercy Property Trust, in this transaction.