BURLINGTON, WASH. — Monmouth Real Estate Investment Corp. has purchased a 210,445-square-foot industrial building in Burlington for $30.6 million. The building is net leased to FedEx Ground Packaging System for 15 years. It is located at 2000 S. Walnut St.
SAN FRANCISCO — Dunkin’ Donuts has signed multi-unit store development agreements with four franchise groups for a total commitment of 29 new restaurants throughout California over the next several years. The development plans include: • New franchisee Golden Gate Restaurant Group LLC plans to develop 12 new restaurants in the San Francisco Bay area within Contra Costa County. Led by Matt Cobo, this team’s first restaurant is scheduled to open in 2016. • New franchise group Far North Ventures LLC plans to develop 10 new restaurants in Chico, Redding, Yreka and Eureka. Led by partners Pietro Saviotti and Rick Lavezzo, the group’s first restaurant is scheduled to open in 2017. • New franchisees Mohammed and Shanaz Hussain plan to develop two new Dunkin’ Donuts in Upper Lakes and Ukiah. The husband and wife duo’s first restaurant is scheduled to open in 2016. • New franchisees Glen and Kirsten Tharp of Coastal Foods Group Inc., alongside partner Payman Khania, plan to develop five new restaurants in Santa Barbara and San Luis Obispo counties. The team’s first location is scheduled to open in 2017.
BAKERSFIELD, HANFORD AND CLOVIS, CALIF. — Retail California, a division of Pearson Realty, has arranged three retail leases totaling 29,936 square feet. In the first transaction, Panda Express signed a lease for 26,136 square feet of retail space at 4925 E. Brundage Lane in Bakersfield from Equity Retail LP. Lewis Smith of Retail California represented the tenant, while Bo Lundy of JBL Commercial represented the landlord in the deal. In the second transaction, Dunkin’ Donuts leased 2,000 square feet of retail space at 1695 W. Lacey Blvd. in Hanford from Passco Hanford Mall LLC. Smith represented the landlord, while Trampis Chandler of Commercial West represented the tenant in the transaction. In the third deal, Sprint Store by Wireless Lifestyle inked a lease for 1,800 square feet of space at Trading Post Shopping Center in Clovis from DN Clovis LLC. Smith and Peter Orlando of Retail California represented the landlord, and Ariel Fox of Retail West represented the tenant in the transaction.
LAS VEGAS — Crate & Barrel has signed a lease to open a store at Downtown Summerlin, a 106-acre fashion, dining and entertainment development located in the Summerlin master-planned community. This will mark the first Nevada location for the retailer. Since opening in October 2014, Downtown Summerlin estimates that 17 million people have visited the development. It has opened 115 retailers in the first phase, which includes 1.4 million square feet of mixed-use development on 106 of the property’s 300 developable acres.
GLENDALE, ARIZ. — 3rd Ave Investments has purchased the 260-unit Sonoma Terrace Apartments in Glendale for $15.3 million. The community is located at 5220 W. Northern Ave. It was built in 1979. Trevor Koskovich, Bill Hahn and Jeff Sherman, all with Colliers’ Phoenix office, represented both the buyer and seller, Mentor Properties, in this transaction.
HOLLADAY, UTAH — ExtraSpace has leased 42,197 square feet of space at 5580 S. Van Winkle Expressway in Holladay. The lease is for 50 years. The space is under construction. When completed, it will be a double-deck, climate-controlled storage facility. ExtraSpace Storage is the second largest indoor storage company in the USA, with 1,350 locations. Chris Monson and Brett Palmer of Mountain West Commercial Real Estate represented the landlord in the transaction.
LOS ANGELES, NORTH HOLLYWOOD AND SANTA CLARITA, CALIF. — illi Commercial Real Estate has arranged three leases totaling 3,264 square feet. In Los Angeles, Wing Factory leased 1,234 square feet of space at 2454 W. Pico Blvd. Gregg Offsay and Dimas Rangel of illi Commercial arranged the leased. In North Hollywood, Kids & Teens Medical Group signed a lease for 1,440 square feet of space at 7544 Laurel Canyon Blvd. Mike Payne of illi represented the tenant, while Sunil Felician De Silva represented the undisclosed landlord in the transaction. In Santa Clarita, Farmers Insurance leased 590 square feet of space at 26256 Bouquet Canyon Road. Jonathan Daniels of illi represented the tenant, while Realty Executives Valencia represented the undisclosed landlord in the deal.
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.