Western

Hanley Investment Group Arranges $3.2M Sale of Glenwood Square Near Bakersfield

by Nellie Day May 17, 2016

DELANO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $3.2 million sale of Glenwood Square, a 6,808-square-foot retail strip center located in Delano, just north of Bakersfield. The property is anchored by Starbucks Coffee, and is fully occupied by tenants including Subway, T-Mobile, Tutti Frutti and Select Staffing. Bill Asher of Hanley represented the seller, Glenwood Cecil LLC, in the transaction. Sean Daryani of RE/MAX represented the buyer, a Los Angeles-based family trust.

May 17, 2016

Montana Multifamily Student Housing Western

Grand Campus Living to Manage 46 North Apartments Near the University of Montana

by Nellie Day May 17, 2016

MISSOULA, MONT. — Farran Realty Partners has awarded Grand Campus Living management of 46 North Apartments, a 468-bed student housing community under development near the University of Montana in Missoula. The property will be the first purpose-built student housing community in Missoula. Community amenities will include dedicated study lounges and a study center, music practice rooms, a social lounge, fitness center, tanning lounge, bike storage and maintenance, ski tuning rooms, a cyber lounge, interior courtyards for community gardens and 6,500 square feet of street-level retail. The new development will offer a mix of studio, one-, two- and four-bedroom units with double occupancy available in select floor plans, alongside two levels of parking. The fully furnished apartments will feature modern appliances including full-size washers and dryers.

May 17, 2016

California Retail Western

NGKF Capital Markets Brokers $51M Sale of the Marketplace at Windingwalk in Chula Vista

by Nellie Day May 16, 2016

CHULA VISTA, CALIF. — NGKF Capital Markets has arranged the sale of the Marketplace at Windingwalk, a neighborhood retail center located in Chula Vista’s Eastlake submarket. Zurich Alternative Asset Management acquired the property from Shea Properties for $51 million. Built in 2008 and situated on 9.3 acres of land, the 104,206-square-foot property is located at 1754-2160 Eastlake Parkway. At the time of sale, the property was 96 percent occupied by tenants including Vons Supermarket, In-N-Out Burger, Wells Fargo and Bank of America. Pete Bethea, Rob Ippolito and Glenn Rudy of NGKF Capital Markets represented the seller in the deal.

May 16, 2016

California Office Western

Construction Begins for Santa Monica Gateway Office Project

by Nellie Day May 16, 2016

SANTA MONICA, CALIF. — Construction has commenced on Santa Monica Gateway, a 200,000-square-foot creative office campus in Santa Monica. The project will be located at 2834 Colorado Ave. The property offers 10,600- to 36,000-square-foot floor plates in a two-building, four-story campus with a three-level subterranean garage. The campus will be ready for occupancy in late 2017. DRDS and Gruen Associates are designing the project. JLL’s Carl Muhlstein and Tom Cherry are leading the leasing efforts. The firm is also handling project and development management.

May 16, 2016

California Industrial Western

LBA Realty Buys Distribution Building in Fremont for $28.5M

by Nellie Day May 16, 2016

FREMONT, CALIF. — LBA Realty has purchased a 177,041-square-foot manufacturing and warehouse distribution building in Fremont for $28.5 million. The facility is located at 5555 Auto Mall Parkway, directly across from Pacific Commons Shopping Center and one block from Interstate 880. Synnex Corp. occupies the space. The seller is Sean Pathiratne, owner of LS Auto Mall. Greig Lagomarsino and Nick Ousman of Colliers International and CBRE’s Brian Matteoni executed the transaction.

May 16, 2016

California Office Western

Former San Diego Daily Transcript Building Sells for $5.3M

by Nellie Day May 16, 2016

SAN DIEGO — SDPB Holdings LLC has purchased a 34,298-square-foot office property that formerly housed the San Diego Daily Transcript for $5.3 million. The three-building property is located at 2131 3rd Ave. The property was home to the San Diego Daily Transcript for more than three decades. The newspaper vacated the space in October 2015. The LLC plans to redevelop the property into a creative office complex. Paul Lafrenz, Marc Frederick and Tim Cowden of Colliers International represented The Transcript in the transaction.

May 16, 2016

California Loans Retail Western

NorthMarq Capital Arranges $3M in Acquisition Financing for Mixed-Use Property in Los Angeles

by Nellie Day May 16, 2016

LOS ANGELES — NorthMarq Capital has arranged $3 million in acquisition financing for 24th & Vermont, a 19,280-square-foot mixed-use property located at 451-467 N. Western Ave. in Los Angeles. The transaction was structured with a 10-year term with three years of interest-only payments, followed by a 27-year amortization schedule. David Blum of NorthMarq arranged the financing for the borrower through a regional bank.

May 16, 2016

Arizona Multifamily Western

Signature Place Condominiums in Tempe Sells for $40M

by Nellie Day May 13, 2016

TEMPE, ARIZ. — Western Wealth Capital has purchased the 300-unit Signature Place Condominiums in Tempe for $40 million. The community is located at 4715 N. 32nd St. It is situated near Discovery Business Campus, ASU Research Park and Chandler’s Price Technology Corridor, known as the Silicon Valley of the Desert. Doug Lazovick, Eddie Chang, Alon Shnitzer, John Kobierowski and Rue Bax of ABI Multifamily represented both the buyer and the seller, Mercury Investment, in this transaction.

May 13, 2016

California Loans Retail Western

NorthMarq Capital Arranges $6M Refinancing for Skyline Center in Thousand Oaks

by Nellie Day May 13, 2016

THOUSAND OAKS, CALIF. — NorthMarq Capital has arranged the $6 million refinancing of Skyline Center, a 36,900-square-foot retail property located in Thousand Oaks. The 10-year, non-recourse loan features a 30-year amortization schedule and a seven-year fixed rate that will switch to floating for the last three years. Joe Giordani of NorthMarq’s Los Angeles office secured the financing for the undisclosed borrower.

May 13, 2016

California Industrial Western

Noble House Home Furnishings Leases 741,458 SF Distribution Center in Ontario

by Nellie Day May 13, 2016

ONTARIO, CALIF. — Noble House Home Furnishings has leased Prologis Mission Distribution Center, a 741,458-square-foot industrial distribution center in Ontario. The Class A center is located at 3655 S. Philadelphia St. It was built in 2001 and acquired by Prologis in 2007. The center was completely vacant prior to this lease. Peter Castleton of Voit represented the national residential furniture manufacturer in the transaction.

May 13, 2016

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