MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building in Moreno Valley occupied by Coast Dental office and TitleMax, which sold for $3.3 million. Ed Hanley and Bill Asher of Hanley represented the seller, MV-Perris LLC. It was sold to TC Enterprise Group LLC, represented by Charles Wong of CCRE Capital Commerce Inc.
SCOTTSDALE, ARIZ. — Arizona-based marketing agency Leavitt Digital has launched its Senior Living Division and hired Kim Tranmer, a 25-year industry veteran, as managing director. Leavitt Digital’s new division focuses on increasing the online presence, search engine optimization (SEO), review monitoring, and press releases distribution in the seniors housing industry. Tranmer’s career in seniors housing includes sales, marketing, consulting and management prior to joining Leavitt Digital. Her primary role will be business development and relationship management, presenting Leavitt Digital’s platform to owners, managers and consultants in the industry.
TEMECULA, CALIF. — The Praedium Group has acquired The Vineyards at Paseo Del Sol, a 288-unit apartment community in Temecula, for $69.6 million. The community is located at 31901 Campanula Way. The property was built in 2014. Paseo Del Sol is the only LEED Gold-certified apartment community in Temecula. It is currently 87 percent leased. CBRE’s Curtis Palmer, Peter Sherman and Paul Runkle represented the seller, the Dinerstein Companies. Brian Eisendrath and Annie Rice of CBRE Capital Markets’ Debt & Structured Finance team secured $43.3 million in financing for the acquisition.
LAS VEGAS — Security Properties has purchased the 275-unit Verona Apartment Homes in the Las Vegas submarket of Henderson for $40 million. The community is located at 6765 Tulip Falls Drive. Security Properties-affiliate Madrona Ridge Residential will manage the Class A asset, which was built in 2007. Verona was purchased through Security’s Multifamily Fund II. It is the fund’s second purchase within the Las Vegas market.
LAGUNA HILLS, CALIF. — Cruzan has purchased Lakehills Corporate Park, a 223,467-square-foot office campus in Laguna Hills, for $40 million. The park is located at 23332-23422 Mill Creek Drive and 24411-24461 Ridge Route Drive. This is Cruzan’s first Orange County purchase. The company will redevelop Lakehills into a modern office campus. CBRE’s Kevin Shannon, Paul Jones, Bob Smith and Blake Bokosky represented the seller, AEW Capital Management. AEW sold the property on behalf of one of its separate account clients.
SAN DIEGO — An affiliate of Maxxam Enterprises has purchased the William Penn Building, a mixed-use property in downtown San Diego’s Gaslamp District, for $10.2 million. The building is located on the corner of 5th Avenue and F Street. It was built in 1913. The property contains 18 residential units and 10,795 square feet of commercial space, with Maloney’s Tavern as the anchor tenant. The building is designated as historical on the San Diego Register and the National Register of Historic Places. CBRE’s Jim Neil, Eric Comer and Merrick Matricardi represented the seller, Penn LLC.
GLENDALE, ARIZ. — DCL Investments LLC has acquired Arrowhead Lakes Marketplace, a 22,280-square-foot retail center in Glendale, for $6 million. The center is located at 20329 North 59th Ave. It is 92 percent leased. Arrowhead Lakes Marketplace is part of a larger shopping center anchored by Albertsons. Steve Gonzalez, Marcus Muirhead and Greg Guglielmino of Colliers International represented DCL. The seller represented itself in this transaction.
SACRAMENTO, CALIF. — Clevron Commercial has closed escrow on three sites located in Sacramento, Fairfield and Danville. The company plans to develop new retail centers on each site, with groundbreakings set to occur in the next 30 to 40 days. The properties include 1229 Howe Ave., a former TGI Fridays, in Sacramento; a vacant lot at 2700 N. Texas Ave. in Fairfield; and a site at the intersection of Railroad Avenue and Church Street in Danville. Ariel Fox at Retail West is handling leasing for the Sacramento and Danville locations, while Adria Giacomelli of Newmark Cornish and Carey will handle leasing for the Fairfield project. Clevron Commercial is a co-venture of Urban West, Tate Diversified Development and Pegasus Development.
LOS ANGELES — 11305 West Moorpark LLC has purchased a 9,689-square-foot retail center in Los Angeles for $4.1 million. The center is located at 5581 Huntington Drive North. It is situated on 25,807 square feet of land. Andrew Awaida of Re/Max Optima represented the buyer. Randy Stevenson, Stephen M. Baker and Kris Hons of Stevenson Real Estate Services represented the seller, Sandale LLC.
PHOENIX — Bixby Land Co. has purchased the Tharco Freeport Distribution Center, a 108,287-square-foot industrial distribution center in Phoenix, for $8.1 million. The institutional-quality center is located at 640 S. 51st Ave. The building is fully leased to Tharco, one of the largest manufacturers and suppliers of unprinted corrugated stock boxes in the U.S. It was built in 1994. DTZ’s Will Strong, Mike Haenel, Andy Markham and Phil Haenel executed the transaction.