BELLFLOWER, CALIF. — CBRE Group has arranged the sale of Rosewood Shopping Center, a retail center located in Bellflower. Bristol Central LP acquired the 60,094-square-foot property for $13.2 million. Currently 74 percent leased, tenants include Fresenius Medical Care, Carl’s Jr., Health Care Partners, Papa John’s Pizza and Montano Family Dentistry. Arthur Flores of CBRE represented the seller, Rosecrans Bellflowers LLC, in the transaction.
LAS VEGAS — MDL Group has joined Corfac International as a domestic affiliate in Southern Nevada. Hayim Mizrachi will act as president and principal of MDL Group/Corfac International. He will also be the principal point-of-contact to Corfac International and will manage MDL Group’s brokerage services practice. MDL Group was co-founded in 1989 by Carol Cline-Ong and Curt Anderson. The firm expanded its brokerage services practice in 2013 when it added Mizrachi and Jarrad Katz as principals. Mizrachi and Katz had previously operated the NAI Global Las Vegas office. MDL Group/CORFAC International is a full-service operation with 38 professionals, 13 of which are brokers. The firm closed more than $70 million in industrial, office and retail transactions and land sales in 2014. It currently manages more than 8 million square feet of commercial properties for third-party owners.
PALM SPRINGS, CALIF. — Marcus & Millichap has brokered the sale of Sunrise Center, a retail center located at 100 S. Sunrise Way in Palm Springs. The property sold for $10.2 million, or $206 per square foot. Renovated in 2009, tenants include Fresh & Easy Market, VIP Urgent Care, Palm Liquors, Power of Fitness and Regal Cleaners. At the time of sale, the property was 96 percent leased. Jack Hopkins and Matthew Hardke of Marcus & Millichap represented the buyer, an investor in an 1031 exchange, while Gregory Mills and Dave Lincoln, also of Marcus & Millichap, represented the undisclosed seller. Sharone Sabar of Marcus & Millichap arranged debt placement for the acquisition.
VANCOUVER, WASH. — Holliday Fenoglio Fowler (HFF) has arranged $24.8 million in proceeds to finance Hazel Dell Towne Center, a 264,191-square-foot retail center located in Vancouver, Washington. Bruce Ganong, Casey Davidson and Brandon Roth of HFF worked on behalf of the sponsor, Pine Tree Commercial Realty LLC, to place the five-year, floating-rate loan with East West Bank. Tenants at the 84 percent leased center include Kohl’s, Bed Bath & Beyond, Petco, Office Depot, Party City, Payless ShoeSource and Supercuts.
MURRIETA, CALIF. — Developer and operator Anthem Memory Care has broken ground on Vineyard Place, a $12.6 million memory care community in Murrieta, about 80 miles southeast of Los Angeles. Anthem expects to open the 38,000-square-foot, 66-unit community in summer 2016. Working with Anthem on developing and building Vineyard Place are CM Consulting, Markham Development Management Group, CBTwo Architects, Consolidated Contracting and LTC Properties, which is providing financing. Anthem, based in Lake Oswego, Ore., also operates a dementia care community in Chico, Calif., and four in Denver. It is currently developing three communities in the greater Chicago area.
SCOTTSDALE, ARIZ. — Arc Construction and MacDonald Development have purchased a 17,711-square-foot building in Scottsdale that houses the Arizona School of Real Estate & Business for $7.7 million. The building is located at 7142 E. 1st St. The sale also included an adjacent parking lot on 40,623 square feet of land. Jon Rosenberg and Keri Davies of LevRose Commercial Real Estate represented the seller, Bill Gray, the school’s original founder.
BEVERLY HILLS, CALIF. — Beverly Hills-based BIG Shopping Centers USA and RED Development have added five retail assets totaling 1.5 million square feet to their recently launched joint venture BIG RED Portfolio LLC. Acquired properties include Chandler Festival, a 494,858-square-foot power center, Chandler Village, a 296,460-square-foot power center and Chandler Gateway, a 261,678-square-foot power center, all located in Chandler, Arizona; One Pacific Place, a 91,143-square-foot outdoor shopping center located in Omaha, Nebraska; and Greenway Station, a 291,315-square-foot lifestyle center located in Middleton, Wisconsin.
KAPOLEI, HAWAII — Six new restaurants are set to open at DeBartolo Development’s Ka Makana Ali’i, a 1.4-million-square-foot regional mall currently under construction in Kapolei in West Oahu. Openings will include a 6,200-square-foot California Pizza Kitchen, Luibueno’s, Nagoya Ramen, Auntie Anne’s, Cinnabon and Gloria Jean’s Coffee. Phase I of the center is expected to open in late 2016.
LOS ALTOS, CALIF. — RLJ Lodging Trust has purchased Los Altos Hotel Associates LLC’s interest in the 156-room Residence Inn by Marriott in the Silicon Valley submarket of Los Altos for $70 million. The hotel is located at 4460 El Camino Real. The Residence Inn opened in 2000. It recently underwent a renovation that included upgrades to the public areas and guestrooms. The hotel caters to extended-stay travelers visiting nearby Palo Alto and Stanford University. Major corporate employers in the area include Hewlett Packard, VMware, SAP, Google, Intuit, Stanford University and Hospital and LinkedIn. Scott Griemsmann of Paramount Lodging Advisors represented the seller in this transaction.
COSTA MESA, CALIF. — Steelwave & Goldman Sachs has purchased a 180,000-square-foot office campus in Costa Mesa for $48 million. The property is located at 3333 South Susan St. The seller, Emulex Corp., occupies the largest of the three buildings. The remaining two vacant buildings contain a total of 84,000 square feet that will be repositioned as creative office space. The site features 14.2 acres with 3.2 acres that can be used for future development. CBRE’s Paul Jones, Kevin Shannon, Gary Stache, Anthony Delorenzo and Blake Bokosky represented Emulex in the deal.
