SAN DIEGO — Bruce Kleege has acquired a six-unit apartment community in the San Diego submarket of Crown Point for $2.2 million. The community is located at 3847-63 Sequoia St. It is situated half a block from Mission Bay and Crown Point Park. The property was built in 1955. It was fully occupied at the time of sale. The buyer represented himself, while Ciara Trujillo, David Santistevan and Gunder Creager of Colliers International represented the seller, Sequoia Street Apartments, in this transaction.
LONG BEACH, CALIF. — Pet Food Express has opened its newest location in California. Located at 4220 Long Beach Blvd., the store is the company’s fifth location to open in Southern California, along with the 52 stores in Northern California. The new location will feature an indoor dog park; permanent state-of-the-art cat adoption center; permanent event rooms for adoptions, dog training and dog birthday parties; newly designed self-service pet wash stations with organic shampoos; and a wellness center, provided by VIP Pet Care with services like annual physicals, diagnostic testing, vaccines and nail trims.
LITTLETON, COLO. — Vestar has acquired Bowles Crossing, a 409,457-square-foot regional shopping center in the Denver suburb of Littleton, for $76.1 million. The 53.8-acre Bowles Crossing is one of the area’s top regional shopping destinations in the southwest Denver metro area. Tenants at the center include Trader Joe’s, DSW Warehouse, Ross Dress for Less, Gordmans and a newly renovated AMC Theatre. The center is located at 8055 W. Bowles Ave., at the northeast corner of Wadsworth Boulevard and Bowles Avenue. Vestar plans expand the shopping center, adding new retail, restaurants and a multifamily component. “Over the past 12 months, Vestar has acquired five retail centers valued at $670 million throughout the Western states,” says Clint Marchuk, the firm’s vice president of acquisitions. “Our goal is to continue acquiring strategic centers in key markets with strong demographics.” Vestar also recently acquired the 623,205-square-foot, open-air retail and entertainment portion of The Gateway, a retail, residential and office complex in downtown Salt Lake City. Phoenix-based Vestar is a privately held real estate company that specializes in the acquisition, management and development of commercial real estate, particularly retail. The company owns and manages more than 25 million square feet of retail assets in the …
NORTHGLENN, COLO. — Starlight Investments Acquisition has purchased the 228-unit Carrick Bend apartments for $47.8 million. The community is located at 11525 Community Center Drive, just north of Denver. It was built in 2014. CBRE’s Dave Potarf, Dan Woodward and Matt Barnett represented the seller, Keller Holland Northglenn Investors, in this transaction.
SPARKS, NEV. — Shopoff Realty Investments has acquired Iron Horse Shopping Center, a 186,000-square-foot retail center located in the Reno suburb of Sparks, for an undisclosed sum. Shopoff has committed more than $1 million for improvements to the property. The retail center was 33 percent occupied at the time of sale by tenants including Dollar General, Subway, Payless Shoes, Sizzler, Jack in the Box and El Pollo Loco. The center is anchored by a Save-Mart, which was not included in the purchase.
SANTA CLARA, CALIF. — Telenav has relocated its office space from Sunnyvale to Santa Clara. The wireless, location-based services company has sublet 54,635 square feet from Avaya. It signed a five-year lease that will commence April 1. The new space is located at 4655 Great America Parkway. It is situated within a 318,000-square-foot, Class A office building that sits adjacent to the new Levi’s Stadium. Doug Sugimoto and Scott Dever of Cushman & Wakefield represented Avaya, a global provider of business collaboration and communications solutions.
AUBURN, WASH. — CenterPoint Properties has acquired a 152,155-square-foot distribution facility in Auburn for an undisclosed sum. The facility is located at 3702 C St. NE. It will be leased to FedEx Ground and will serve as one of the firm’s primary Western Washington distribution and sorting facilities. Matt Wood, Andy Miller and Todd Battison of Kidder Mathews represented both CenterPoint and the unnamed seller in this transaction.
COLORADO SPRINGS, COLO. — Computer Science Corp. has signed a five-year lease for 4,948 square feet of space at Platte Airpark Center in Colorado Springs. The 137,900-square-foot, Class A office complex is located at 320-480 N. Wooten Road. The center is now 95 percent leased. CBRE’s Brad Bird, Martin Johnson and Jared May serve as the center’s leasing agents. The landlord is Fairbridge Properties.
LOS ANGELES — A joint venture between Douglas Emmett and the Qatar Investment Authority has purchased a 1.7-million-square-foot office portfolio in the Los Angeles submarket of Westwood for $1.3 billion. The portfolio contains four Class A office buildings within the Westwood Wilshire office corridor. Douglas Emmett plans to retain 20 percent to 30 percent of the joint venture equity. The remaining interest will be held by institutional partners. The JV obtained a $580 million, non-recourse, interest-only loan with a seven-year term. This acquisition will allow Douglas Emmett to control 74 percent of the Westwood Wilshire office corridor. The firm’s portfolio now contains a total of 66 office properties with 17.2 million square feet of space.
AVONDALE, ARIZ. — Parkmeed Properties has acquired the 314-unit Ashton Pointe apartments in Avondale for $42.5 million. The community is located at 12175 W. McDowell Road, just a mile from the Coldwater Depot Logistics Center. Notable employers in the area include Nike Golf, Ogio International, Eddie Bauer, Red Kap, Bulwark and New Era. Steve Gebing and Cliff David of Marcus & Millichap represented both the buyer and seller, P. B. Bell Companies, in this transaction.