ELK GROVE, CALIF. — NRC Manufacturing is expanding its presence in Elk Grove by building a 230,000-square-foot manufacturing facility. This will be the electronic components prototype manufacturer’s second facility within the Sacramento submarket. The facility will eventually employ up to 2,500 manufacturing and management personnel for the Fremont-based company. Phase I is slated for completion by the end of 2017. NRC partnered with the Kamilos Cos. on this project. It will be the first major employer within the City of Elk Grove’s Southeast Policy Area, a 1,200-acre, master-planned area that includes more than 400 acres of fully entitled, development-ready corporate office and manufacturing land.
HILLSBORO, ORE. — Majestic Realty Co. has broken ground on a 303,000-square-foot spec industrial warehouse in Hillsboro. The project will be situated at the southeast quadrant of Highway 26 and Brookwood Parkway, 18 miles west of Portland. It is scheduled for completion in the third quarter of 2016. The new development will be the third building at the Majestic Brookwood Business Park. It will neighbor a 200,000-square-foot ViaWest data center, which opened its first phase in September 2015, as well as a 65,000-square-foot Top Golf entertainment complex scheduled to open this June.
LOS ANGELES — Bonnis Properties has purchased the 147,346-square-foot Foreman & Clark Building in downtown Los Angeles for $52 million. The 13-story building is located at 404 W. 7th St. The space was originally built in 1929 as a Foreman & Clark department store. It most recently served as a jewelry mart, but was vacated in mid-2015 when the space was slated to transform into a boutique hotel. Bonnis plans to rehabilitate and restore the historic core property. Redevelopment details are in the early planning stages. Derrick Moore of Avison Young represented the buyer. CBRE’s Phillip Sample and Chris Caras represented the seller, Dr. Kyung Ku Cho, in this transaction.
BEAVERTON, ORE. — Pacific Urban Residential has purchased the 137-unit Spyglass Hill apartment complex in Beaverton for $25.3 million. The community is located at 14305 S.W. Sexton Mountain Drive, just 11 miles southwest of downtown Portland. Spyglass Hill is 97.9 percent leased. It is situated near Nike and Intel. HFF’s Ira Virden represented the seller, Hamilton Zanze, in this transaction.
TUCSON, ARIZ. — Capital Square 1031 has acquired Galeria del Rio, a 101-unit townhome community in Tucson, for an undisclosed sum. The community is located at 5132 N. Prairie Clover Trail. It was completed in December 2014. Galeria del Rio is currently 94 percent occupied. Notable neighboring employers include Raytheon Missile Systems, Texas Instruments, IBM, Intuit, Honeywell and Universal Avionics.
LAS VEGAS — Harsch Investment Properties has purchased Patrick Airport Center, a 57,838-square-foot industrial property in Las Vegas, for an undisclosed sum. The business park is located at 2900 E. Patrick Lane, on the edge of McCarron International Airport. Joe Leavitt and Chris Lexis of Avison Young represented the undisclosed seller.
SAN DIEGO — Norm Blumenthal has purchased a seven-unit apartment complex in the San Diego submarket of Pacific Beach for $2.3 million. The community is located at 835-41 Agate St. Gary Urtiaga of Apartment Realty Group and Dylan Wright of ACRE represented Blumenthal. Dennis Leslie of ACI represented the seller, Stevens Family Trust – care of Elizabeth Dunn, in this transaction.
LAKEWOOD, CALIF. — Advanced Real Estate Services (ARES) has purchased the 149-unit Olivewood Apartments in Lakewood for $30.9 million. The community is located at 5800 South St. Olivewood Apartments was built in 1976. The property has never undergone a renovation. ARES plans to completely renovate and rebrand the community as The 5800 Apartment Homes. ARES assumed a loan worth approximately $16 million. The company plans to add $6 million in improvements to the property. Dean Zander of Berkadia executed the sale. The seller was Interstate Equities Corp.
SAN FRANCISCO — Dougherty Funding LLC has provided $22.8 million in financing for a 169-room Comfort Inn & Suites Hotel in San Francisco. The hotel is situated in south San Francisco, about three miles north of San Francisco International Airport. It was built in 1986 and was renovated last in 2010. About $2.4 million of the loan proceeds will be used to renovate the hotel. Dougherty Funding served as lead lender and servicer for the loan.
IRVINE, CALIF. — Saint Marina Coptic Church has purchased an 11,500-square-foot industrial property in Irvine for $2.8 million. The property is located at 3 Wrigley, within the Irvine Spectrum. Saint Marina Coptic Church will use the building for its administration operations. The church occupies space in an adjacent building as well. NGKF’s David Kluver represented the seller, Hunter Julian Properties, which was previously the owner-occupier.