SPOKANE, WASH. — DPGB-WA-1 LLC has purchased the Red Lion Headquarters Building, a 100,362-square-foot office building in Spokane, for $12.3 million. The property is located at 201 W. North River Drive. It is situated along the Spokane River’s north bank. David Peterson of Goodale & Barbieri and Chris Johnson and MaryKay West of NAI Norris, Beggs & Simpson represented the sellers, 201 North River LLC and Red Lion Hotels LP. Peterson also represented the buyer.
SCOTTSDALE, ARIZ. – A 17,711-square-foot facility in Scottsdale that houses the Arizona School of Real Estate & Business has sold to Arc Construction and MacDonald Development for $7.7 million. The school is located at 7142 E. 1st Street in the downtown region. The sale also includes an adjacent parking lot on 40,623 square feet of land. Bill Gray, the school’s original founder, was represented by Jon Rosenberg and Keri Davies of LevRose Commercial Real Estate.
PHOENIX – The Better Business Bureau (BBB) has purchased the McMurry Buildings in Phoenix for $4.3 million. The center is located at 1002-1010 E. Missouri Ave. It includes two office buildings with a total of 25,918 square feet. The space was previously occupied by McMurry/TMG, an online marketing, advertising and print publishing company. BBB was represented by Kevin Lange of Keyser. The seller, McMurry Properties, was represented by Bill Blake and Colton Trauter of Lee & Associates.
LAS VEGAS – Pathfinder Partners has acquired 64 condominium units at Sky Las Vegas on the Las Vegas Strip. The 42-story, 409-unit luxury condo community is located at 2700 Las Vegas Blvd. South. The units were purchased from the property’s original developer, who had previously sold 345 units and was operating the remaining unsold units as rentals. The transaction was executed by CBRE’s Charles Moore and Marlene Fujita.
LOS ANGELES – The 33-unit El Dorado Villas in the Los Angeles submarket of Sherman Oaks has sold to an international buyer for $19.5 million. The community is located at 4510 Murietta Ave. The community contains individually deeded condos that can be sold separately in the future. The buyer owns other properties in the area and wanted to expand his portfolio with this purchase. The Florida-based seller built the property in 2008. It was represented by Brent Sprenkle of Berkadia.
EL SEGUNDO, CALIF. – A 119,484-square-foot office building in El Segundo has sold to a partnership between Roxborough Fund I and Montana Avenue Capital Partners for an undisclosed sum. The property is located at 1700 East Walnut Ave. It is 99 percent leased. The partners plan to reposition the property. It is their first acquisition.
SCOTTSDALE, ARIZ. — A joint venture between Security Properties and Intercontinental Real Estate has acquired the 539-unit Pillar at Scottsdale apartment community for $95.8M. The property is located at 17212 North Scottsdale Road in Scottsdale. The community was built in 1999. It is situated across from TPC Scottsdale, home of the PGA’s Waste Management Phoenix Open, as well as from the Fairmount Princess Resort. Pillar at Scottsdale was 96 percent occupied at the time of sale. The seller was Private Portfolio Group. The transaction was executed by CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch.
ENGLEWOOD, COLO. — CH2M has renewed its lease for a 370,485-square-foot office facility in the Denver submarket of Englewood. The space is located at 9191 S. Jamaica Street. The global engineering and project delivery company has leased the three-building property since 2007. This represented the largest office lease in Denver so far this year, according to Savills Studley, which represented CH2M. Monty Harris and Rob Link worked on behalf of the firm. The landlord, Columbia Property Trust, was represented by Jamie Gard and Jeff Castleton of Newmark Grubb Knight Frank.
WESTMINSTER, COLO. — The 444-unit Cascade Village apartment complex in Westminster has sold to a joint venture between Phoenix Realty Group and Real Estate Corporation for an undisclosed sum. The community is located at 6880 W. 91st Court. Cascade Village is situated just half a mile from the 105-acre Westminster Mall master-plan redevelopment that will add 1 million square feet of commercial office space to the area, along with 1.1 million square feet of retail and entertainment venues, and high-density multifamily and residential properties. The unnamed seller was represented by Shane Ozment, Terrance Hunt, Doug Andrews and Jeff Hawks of ARA Newmark.
PERRIS, CALIF. — IDI Gazeley has leased more than 1 million square feet at the Stratford Ranch development in Perris. The international home improvement retailer will occupy Building A of the development. The new space will serve as a storage, warehousing and distribution center for IDI Gazeley’s products. The firm was represented by Bill Heim and Michael Chavez of Lee & Associates. The landlord was represented by CBRE’s Joey Sugar.
