Western

Orinda Theatre Square in San Francisco Bay Area Changes Hands

by Nellie Day June 4, 2015

SAN FRANCISCO – Orinda Theatre Square, an eight-building, mixed-use property in the San Francisco Bay submarket of Orinda, has sold to an unnamed buyer for an undisclosed sum. The property is visible from Highway 24 and sits adjacent to the Orinda BART station. It was built in 1941 and expanded in 1986. Orinda Theatre features 47,610 square feet of office space and 42,927 square feet of retail space. The space is 98 percent leased to tenants like Starbucks, Serika Japanese Restaurant, Sweet Dreams Toy Store, Entourage Spa & Salon, Morgan Stanley Smith Barney, Wells Fargo Advisors and Chicago Title. The seller was represented by HFF’s Steven Golubchik, Nicholas Bicardo and Brandon Rogoff.

June 4, 2015

Colorado Industrial Western

Denver Industrial Property Sells for $5.5M

by Nellie Day June 4, 2015

DENVER – A 61,954-square-foot industrial property in Denver has sold to Parkhill Development Company for $5.5 million. The space is located at 3000 and 3201 Walnut Street. The seller, WSM Properties, was represented by DTZ’s Aaron Valdez, Alec Rhodes and Tyler Smith.

June 4, 2015

California Industrial Western

Gordon Brush Buys Industrial Facility in City of Industry

by Nellie Day June 4, 2015

CITY OF INDUSTRY, CALIF. – Gordon Brush Mfg. Co. has purchased a 182,853-square-foot industrial building in the Los Angeles submarket of the City of Industry for an undisclosed sum. The property is located at 3737 Capitol Ave. The industrial brush manufacturer plans to relocate to the building, which will allow it to consolidate its operations. The company will occupy 100,000 square feet and lease the remaining space. Gordon Brush was represented by Jeff Bethel and Jack Cline of Lee & Associates.

June 4, 2015

California Multifamily Western

San Diego Apartment Community Sells for $2M

by Nellie Day June 4, 2015

SAN DIEGO – An eight-bedroom apartment community in the San Diego submarket of Normal Heights has sold to Wang’s Growth LLC for $1.9 million. The community is located at 4640 Bancroft Street. The seller, Vaerus Utah LLC, upgraded the complex with all new interiors, including new kitchens, hardwood floors, bathrooms, heating, paint, lighting and appliances. The property also received new exterior paint, drought-tolerant landscaping, hardscape, exterior modern treatments, doors and new modern fencing. Vaerus was represented by Mark Morgan of ACI Apartments.

June 4, 2015

Arizona Office Western

Griffin Capital Buys Phoenix Office Building, Data Center for $91.5M

by Nellie Day June 3, 2015

PHOENIX – Griffin Capital Corporation has purchased a 513,361-square-foot office building and data center complex in Phoenix for $91.5 million. The complex is located at 3151 and 3202 West Behrend Drive. The property is fully occupied by American Express Travel Related Services Company. The company is a subsidiary of American Express. American Realty Advisors was represented by CBRE’s Jim Fijan and Chad Freese.

June 3, 2015

California Industrial Western

Magellan Breaks Ground on Industrial Park in Los Angeles

by Nellie Day June 3, 2015

LOS ANGELES – The Magellan Group has broken ground on a 501,270-square-foot industrial park in the Los Angeles submarket of El Monte. The $55 million Magellan Gateway will be located at 4127-4213 Temple City Blvd. Magellan purchased the 26.8-acre site one year ago. It was one of the largest infill industrial parcels left in Greater Los Angeles at the time, according to the firm. The company also notes Magellan Gateway is the first new large-scale industrial development in El Monte since 2008. The project will offer 14 units ranging in size from 10,905 square feet to 164,284 square feet. It is scheduled for completion during the fourth quarter of this year. Magellan Gateway will be designed by HPA Architecture. Robin Dodson, John Minervini, Erik Larson and Chris Tolles of Cushman & Wakefield will serve as the project’s leasing agents.

June 3, 2015

Multifamily Nevada Western

Bascom Group Acquires 183-Unit Community for $10.4M in Las Vegas

by Nellie Day June 3, 2015

LAS VEGAS — Private equity firm The Bascom Group has acquired the 183-unit Boulder Palms Senior Apartments at 4350 Boulder Highway in Las Vegas for $10.4 million. Debt financing was provided by One West Bank and arranged by Brian Eisendrath and Brandon Smith of CBRE Capital Markets. Doug Schuster and Vittal Ram of Newmark Grubb Knight Frank represented the seller on the transaction. Boulder Palms is a two-story seniors housing community housing 183 units. Completed in 1997, the property covers over four acres. Boulder Palms is Bascom’s eighth acquisition in the Las Vegas area over the last two years.

June 3, 2015

California Multifamily Western

Redwood City Apartment Building Sells for $13.1M

by Nellie Day June 3, 2015

REDWOOD CITY, CALIF. – A 48-unit apartment building in the San Francisco Peninsula submarket of Redwood City has sold to an unnamed buyer for $13.1 million. The community is located at 180 Buckingham Ave. It was built in 1964. Adam Levin and Robert Johnston of Marcus & Millichap’s Palo Alto office represented both the buyer and seller in this transaction.

June 3, 2015

Oregon Retail Western

Tigard Retail Property Sells for $2.5M

by Nellie Day June 3, 2015

TIGARD, ORE. – A 24,733-square-foot retail building in Tigard has sold to Hobo Properties LLC for $2.5 million. The building is located at 12230 SW Main Street in the downtown region. The center is fully occupied by Crown Carpets and Live Laugh Love Glass. Hobo Properties was represented by Joe Kappler of Macadam Forbes. The seller, 3DM Holdings, was represented by Scott Finney and Nick Chessar of Norris & Stevens.

June 3, 2015

Industrial Oregon Western

Harsch Investments Buys Teton Industrial Building in Tualatin

by Nellie Day June 2, 2015

TUALATIN, ORE. – Harsch Investments has purchased Teton Industrial Building, a 100,000-square-foot industrial property in Tualatin, for an undisclosed sum. The building is located at 20495 SW Teton Ave. It was formerly long occupied by Stanton Furniture. Harsch will immediately begin a renovation program that will include roof improvements, painting, parking lot and landscape upgrades, warehouse lighting upgrades and yard area re-grading. The transaction was executed by Stu Peterson of Macadam Forbes.

June 2, 2015

Newer Posts

Older Posts