NORCO AND WESTMINSTER, CALIF. — Coldwell Banker Commercial Alliance has brokered the sales of two retail properties located in Norco and Westminster. In the first transaction, a private investor acquired a 2,474-square-foot Carl’s Jr. property with Vandermolen Center on Hamner Avenue in Norco. The single-tenant asset sold for $1.2 million. In the second deal, a private 1031 exchange buyer acquired single-tenant Taco Bell property at the intersection of Magnolia Street and Edinger Avenue in Westminster. The 760-square-foot asset, which sits on a 13,681-square-foot parcel, sold for $1 million. Daniel Tyner and Scott Hook of Coldwell Banker Commercial Alliance brokered the transactions.
PALMDALE, CALIF. — Rally Auto Group has acquired a vacant auto dealership located at 421 Auto Center Drive within Palmdale Auto Center in Palmdale. Charman 25 LLC sold the 26,000-square-foot asset for $2.2 million. The buyer plans to use the site for Rally Hyundai, a new Hyundai dealership slated to open third quarter 2016. Jodi Meade of Avison Young represented the seller and buyer in the transaction.
FREMONT, CALIF. — A private investor has purchased a 34,272-square-foot industrial building in Fremont for $5.2 million. The property is located at 48351 Lakeview Blvd., within the Bayside Business Park. The facility is situated near Tesla’s manufacturing plant. Rick Bland, Garrett Drew and Andrew Stoddard of Lee & Associates Oakland represented the seller, Cenco Investment LLC, in this transaction.
TUCSON, ARIZ. – MCFT Holdings LLC has acquired the 70-unit San Simeon apartments in Tucson for $3.7 million. The community is located at 6091 E. Golf Links Road. It was built in 1963 and underwent a large-scale renovation in 2013. MCFT Holdings acquired the asset as a long-term investment and plans to implement general property upgrades.The LLC represented itself in this transaction while Bill Hahn, Jeff Sherman and Trevor Koskovich of Colliers International represented the seller, Corey Peterson.
MADERA, CALIF. — Newmark Grubb Pearson Commercial has arranged the lease of 2,760 square feet of retail space at 1460 E. Yosemite Ave. in Madera. Mountain Mike’s Pizza Restaurant has inked a deal with Q/S Tozer Avenue LLC to occupy the space. Craig Holdener and Troy McKenney of Newmark Grubb Pearson Commercial and Jeanette Woerman Mason of Brekke Real Estate negotiated the transaction.
NAPA, CALIF. — BevMo! Has opened a new location at 3325 Jefferson St. in Napa. The beverage retailer will occupy 7,567 square feet of the Staples building along the Trancas Boulevard. Matt Alexander of SRS Real Estate Partners represented BevMo! in the lease transaction.
GARDENA, CALIF. — AutoZone, an auto parts retailer, has signed a 10-year lease for 7,000 square feet of end-cap retail space on Crenshaw Boulevard in Gardena. The location is located within a 26,000-square-foot community shopping center. Geoff Grossman and Aaron Guido of Centers Business Management represented the undisclosed landlord in the transaction.
DENVER — Pearlmark has received a $55.1 million loan to refinance the 202-room Ritz-Carlton in Denver. The full-service, AAA Five-Diamond hotel is located at 1881 Curtis St. The Ritz-Carlton originally opened in 2008. It underwent $9.3 million in capital improvements between 2013 and 2015. The property includes a Ritz-Carlton Club Level, Elway’s Restaurant, the Ritz-Carlton Spa, a recently renovated fitness center with adjacent salon, and an adjacent TruFit Athletic club with lap pool, Olympic weights and an indoor climbing wall. The hotel also offers 12,383 square feet of meeting and event space. HFF’s Eric Tupler and John Bourret arranged the floating-rate loan with the Canadian Imperial Bank of Commerce.
SAN BERNARDINO, CALIF. — Hillwood has announced a new tenant has signed a 1.1 million-square-foot lease to fully occupy AllianceCalifornia Gateway South Building 3 in San Bernardino. The distribution building is located at 555 E. Orange Show Road. The new tenant has not been named. Gateway South Building 3 is currently the largest speculative building in Southern California, according to Hillwood. The building sits on 50 acres just north of Interstate 10. AllianceCalifornia is a 2,000-acre trade and logistics center. It is one of Hillwood’s largest developments to date, totaling more than 13 million square feet. The property has another 414,000 square feet under construction that should be delivered in the second quarter of 2016.
FARGO, N.D. — A locally based private real estate investor has acquired a two-property hospitality portfolio in Fargo for $30 million. The portfolio includes the Holiday Inn and a Holiday Inn Express that contain a total of 387 units. The hotels are situated at the intersection of Interstate 29 and 13th Avenue South, directly across from West Acres Mall, the state’s largest regional mall. The Holiday Inn has undergone more than $10 million in renovations since 2000, including a complete guest room remodel in 2006. Both hotels come with 15-year licenses that expire in 2030. Shane Skubis of Marcus & Millichap represented both the buyer and seller, a Los Angeles-based private equity group, in this transaction. Craig Patterson is Marcus & Millichap’s broker of record in North Dakota.