Western

24 Hour Fitness Building in Monrovia Sells for $5.5M

by Nellie Day February 13, 2015

MONROVIA, CALIF. – A 17,000-square-foot building in Monrovia that is triple-net leased to 24 Hour Fitness has sold to HREH LLC for $5.5 million. The building is located at 715 East Huntington Drive, within the East Huntington Drive technology corridor. It was built in 1995. 24 Hour Fitness has occupied the property for 19 years. The gym recently signed a 10-year lease extension. The seller, Monrovia Fitness LLC, was represented by Jeff Conover of Faris Lee Investments. The all-cash buyer represented itself.

February 13, 2015

Retail Washington Western

Overlake Shopping Center in Bellevue Sells for $30M

by Nellie Day February 12, 2015

BELLEVUE, WASH. – Overlake Shopping Center, a 49,167-square-foot, grocery-anchored center in Bellevue, has sold to Panos Properties for $30 million. The fully leased property is located at 15555-15585 NE 24th Street. It is anchored by Trader Joe’s, PetSmart and Walgreens, the seller. Walgreens signed a 20-year lease with Panos as part of the sale-leaseback transaction. Panos Properties was represented by Reynolds Haas of Colliers International. Walgreens was represented by Lauren Powell of Powell Development Company in this off-market transaction.

February 12, 2015

California Office Western

Rancho Cucamonga Office Building Sells for $13.4M

by Nellie Day February 12, 2015

RANCHO CUCAMONGA, CALIF. – A 39,600-square-foot office building in Rancho Cucamonga has sold to CFRE Holdings LLC for $13.4 million. The building is located at 8163 Rochester Ave. CFRE was represented by Cathy Jones, Paul Miachika, Jessica Cegavske and Roy Fritz of Sun Commercial Real Estate. The seller, 8163 Rochester Partners LLC, was represented by Isaiah Harf of Stan Johnson Company.

February 12, 2015

Colorado Multifamily Western

The Amherst Apartment Homes in Denver Sells for $5.6M

by Nellie Day February 12, 2015

DENVER – The Amherst Apartment Homes, an 81-unit multifamily property in Denver, has sold to a local buyer for $5.6 million. The community is located at 2775 S. Federal Blvd. It was built in 1973. The property was most recently renovated in 2010. The sale was executed by Josh Newell and Robert Lawson of Pinnacle Real Estate Advisors. The buyer assumed the unnamed seller’s current Fannie Mae loan.

February 12, 2015

Industrial Western

Accelerated Care Plus Corp. Leases Space in Reno

by Nellie Day February 12, 2015

RENO, NEV. – Accelerated Care Plus Corp. (ACP) has leased 66,000 square feet of space at the Reno Aircenter. The distribution space is located at 4999 Aircenter Circle. ACP provides “modality-based” clinical programs for post-acute and chronic rehabilitation. The landlord, IndCor Properties, was represented by J. Michael Hoeck, Dave Simonsen, Michael Nevis and Steve Kucera of The NAI Alliance Industrial Properties Group.

February 12, 2015

California Retail Western

Altadena Crossing Shopping Center Changes Hands

by Nellie Day February 12, 2015

ALTADENA, CALIF. – Altadena Crossing, a 43,108-square-foot shopping center, has sold to a private family trust for an undisclosed sum. The fully leased center is located at 2230-2268 Lincoln Ave. in Altadena, just north of Pasadena. It was built in 2006. Notable tenants include Verizon Wireless, Panda Express, Bank of America, 24 Hour Fitness and Subway. The latter three tenants were not part of the sale. The trust was represented by Martin Agnew and Jessica Kelley of Marcus & Millichap’s Encino office. The seller was not named. The transaction’s financing was arranged by Sharone Sabar of MMCC’s Encino office.

February 12, 2015

Multifamily Oregon Western

Jory Trail at the Grove Apartments in Portland Sell for $59M

by Nellie Day February 11, 2015

PORTLAND, ORE. — M&C Properties has acquired the 324-unit Jory Trail at the Grove apartments in Portland for $59 million. The community is located at 8750 Southwest Ash Meadows Road. The property sits adjacent to Interstate 5 in the Wilsonville submarket, which is less than 20 miles south of Downtown Portland. It is situated within the Grove master-planned community. Notable employers in the area include Xerox, Mentor Graphics, Fir Systems and Rockwell Collins. Jory Trail was completed in 2012. It is currently 94 percent leased. Community amenities include walking trails, Wi-Fi access in all units and public spaces, a 24-hour fitness center, pool and sundeck with heated hydrotherapy spa. The seller, a partnership between Holland Partner Group and the Carlyle Group, was represented by HFF’s Ira Virden and Kerry Hughes. HFF also secured a $44.2-million, fixed-rate loan for M&C through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program. The HFF debt placement team was led by Charles Halladay, Tom Wilson, Sebastian Trujillo and Charlie Watson.

February 11, 2015

California Office Western

Laurus Corp. Buys Pasadena Office Building

by Nellie Day February 11, 2015

PASADENA, CALIF. — Laurus Corp. has purchased a 163,194-square-foot office building in Pasadena for a reported $52.5 million. The Class A building is located at 199 S. Los Robles Ave. The property is situated between the cross streets of Cordova and El Dorado, just one block south of the Paseo Colorado lifestyle center. It sits adjacent to the Pasadena Convention Center, near Old Town Pasadena, the Lake Avenue Business and Shopping District and the Del Mar Metro Gold Line Station. Notable employers in the area include the California Institute of Technology, NASA’s Jet Propulsion Laboratory, the Art Center College of Design, Bank of America, OneWest Bank, Tokio Marine Insurance and Western Asset Management.

February 11, 2015

California Multifamily Western

Virtú Investments Buys The Eleven Hundred Apartments in Sacramento

by Nellie Day February 11, 2015

SACRAMENTO, CALIF. — Virtú Investments has purchased The Eleven Hundred Apartments, a 565-unit apartment community in Sacramento, for a reported $44 million. The garden-style community is located at 1100 Howe Ave., within the city’s Arden Arcade neighborhood. The property was built in 1962. It was 96 percent occupied at the time of sale. Mark Leary and Kyle Suryan of ARA Pacific represented both the buyer and seller, Acacia Capital, in this transaction.

February 11, 2015

Arizona Office Western

ConneXion Office Building in Tempe Sells for $5.2M

by Nellie Day February 11, 2015

TEMPE, ARIZ. – ConneXion, a 49,464-square-foot office building in Tempe, has sold to ViaWest Group for $5.2 million. The building is located at 7855 S. River Parkway in the ASU Research Park. The property was formerly known as Transamerica Research Center. The seller, Aegon USA, was represented by Glenn Smigiel, Bob Young, Steve Brabant and Rick Abraham of CBRE’s Phoenix office, along with Andrew Cheney and Craig Coppola of Lee & Associates. ViaWest plans to hold the property. It will serve as the property manager and asset manager.

February 11, 2015

Newer Posts

Older Posts

Upcoming Events

Aug
20