Western

Monterey VA Health Care Center in Marina Receives $99.4M Loan

by Nellie Day February 4, 2015

MONTEREY, CALIF. — Monterey VA Health Care Center in the Monterey County submarket of Marina has received a $99.4-million construction-to-permanent loan. The 141,000-square-foot healthcare facility will be located on the former Fort Ord military base. The facility is currently under construction. Veteran Affairs will occupy the majority of the building, with the remaining space going to the Department of Defense for the next 20 years. The center will provide primary and specialty care to tens of thousands of patients in the surrounding area. The non-recourse, fixed rate loan will amortize over a 20-year term. It was arranged by George Mitsanas, Peter Hillakas and Michelle Hsieh of Newmark Realty Capital, as well as by Mesirow Financial. Newmark will service this loan for its life company correspondent lender.

February 4, 2015

California Office Western

Westcore Properties Buys Sunnyvale Office Building, Data Center

by Nellie Day February 4, 2015

SUNNYVALE, CALIF. — Westcore Properties has acquired a 165,497-square-foot property in Sunnyvale for $52.7 million. The property is located at 1390 and 1400 Kifer Road. The acquisition includes a three-story office building and a single-story data center. The vacant office building will undergo a major renovation, including a new outdoor tenant area, refreshed landscaping, and new finishes to the lobby and interior. The data center is occupied by CenturyLink. The property is less than a mile from CalTrain. The seller, WTA Development, was represented by DTZ’s Steve Horton and Kelly Yoder, and by CBRE’s Joe Moriarty and Brad Zampa. DTZ will also handle the leasing assignment.

February 4, 2015

California Industrial Western

Alere Buys Cerritos West Industrial Park for $43.8M

by Nellie Day February 4, 2015

CERRITOS, CALIF. — Alere has acquired Cerritos West Industrial Park, a seven-building, 395,177-square-foot property, for $43.8 million. The park is located at 13311-13317 166th Street, 16301-16431 Carmenita Road and 16210-16448 Manning Way in Cerritos. Cerritos West is fully leased by 14 tenants, including Future Metals, Bunn-o-Matic and Maruka Machinery Co., a parent company to Maruka, USA. The park has freeway access to interstates 5, 605, 105, 710, 405 and 110, as well as state routes 91, 57 and 60. CBRE’s Darla Longo, Barbara Emmons, Rebecca Perlmutter Finkel and Laird Perkins represented both the buyer and seller, CBRE Global Investors, in this transaction.

February 4, 2015

California Industrial Western

Keolis Transit America Renews Industrial Lease Near LAX

by Nellie Day February 4, 2015

LOS ANGELES – Keolis Transit America has renewed its lease at Skyview Center at 6053 W. Century Blvd. The facility serves as the company’s North American headquarters. The public transportation provider was represented by Sean Westgate of Cresa Los Angeles. The landlord, Los Angeles World Airports, was represented by Tom Sheets of Cushman & Wakefield.

February 4, 2015

California Retail Western

Carter’s Opens at Westgate Center in San Jose

by Nellie Day February 4, 2015

SAN JOSE, CALIF. – Carter’s has opened a 9,505-square-foot outpost in the Westgate Center in San Jose. The center is located at the northeast corner of Hamilton and Saratoga. It is anchored by Target, Nordstrom Rack, Walmart Neighborhood Market, Nike Factory Store, Old Navy, Burlington Coat Factory, Michaels and Ross. Carter’s was represented by Dawn Greiner and Laura Tinetti of SRS Real Estate Partners. The landlord is Federal Realty Investment Trust.

February 4, 2015

Multifamily Oregon Western

Central Eastside Lofts in Portland Sells for $19M

by Nellie Day February 3, 2015

PORTLAND, ORE. – The 70-unit Central Eastside Lofts in Portland has sold to an out-of-state private investor participating in a 1031 exchange for $18.9 million. The lofts are located at NE 6th and Couch, near the Burnside Bridgehead. The property also includes 11 retail spaces. The seller was Andrews Management. The transaction was executed by HFO Investment Real Estate.

February 3, 2015

California Multifamily Western

LA Multifamily Portfolio Trades for $13.4M

by Nellie Day February 3, 2015

LOS ANGELES – A three-property multifamily portfolio in Los Angeles has sold to an unnamed buyer for a total of $13.4 million. The communities included in the acquisition are the 34-unit Strohm Apartments in North Hollywood; the 30-unit Ratner Apartments in Sun Valley; and the 21-unit Hollywood Way Apartments in Burbank. Warren Berzack, Stephen Geiger, Jim Fisher and Mike Smith of Lee & Associates-LA North/Ventura represented both the buyer and unnamed sellers in this transaction.

February 3, 2015

California Industrial Western

7-Eleven Leases Warehouse Space in Santa Fe Springs

by Nellie Day February 3, 2015

SANTA FE SPRINGS, CALIF. – 7-Eleven has signed a seven-year lease for 146,326 square feet of warehouse and distribution space in the Los Angeles submarket of Santa Fe Springs. The space is located at 12330 Lakeland Road. It will include 35,000 square feet of new cooler space. The convenience store operator was represented by Chuck Wilson and Jon Thys of Colliers International. The landlord, Carson Companies, was represented by CBRE’s Rick McGeagh.

February 3, 2015

California Industrial Western

Bayside Technology Park in Fremont Sells for $5.3M

by Nellie Day February 3, 2015

FREMONT, CALIF. – Bayside Technology Park, a 46,944-squre-foot industrial facility in Fremont, has sold to Crest Properties for $5.3 million. The park is located at 46107-46127 Landing Parkway. The unnamed seller was represented by Steve Kapp of Cornish & Carey Newmark Knight Frank and Jim and Craig Kovaleski of Cassidy Turley.

February 3, 2015

Arizona Retail Western

Romano’s Macaroni Grill Building in Goodyear Sells for $3M

by Nellie Day February 3, 2015

GOODYEAR, ARIZ. – A 6,810-square-foot building in Goodyear that is net leased to Romano’s Macaroni Grill has sold to an unnamed buyer for $3 million. The building is located at 1828 North Litchfield Road. The seller, a limited liability company, was represented by Jamie Medress and Mark Ruble of Marcus & Millichap’s Phoenix office.

February 3, 2015

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