SACRAMENTO, CALIF. — Clevron Commercial has closed escrow on three sites located in Sacramento, Fairfield and Danville. The company plans to develop new retail centers on each site, with groundbreakings set to occur in the next 30 to 40 days. The properties include 1229 Howe Ave., a former TGI Fridays, in Sacramento; a vacant lot at 2700 N. Texas Ave. in Fairfield; and a site at the intersection of Railroad Avenue and Church Street in Danville. Ariel Fox at Retail West is handling leasing for the Sacramento and Danville locations, while Adria Giacomelli of Newmark Cornish and Carey will handle leasing for the Fairfield project. Clevron Commercial is a co-venture of Urban West, Tate Diversified Development and Pegasus Development.
LOS ANGELES — 11305 West Moorpark LLC has purchased a 9,689-square-foot retail center in Los Angeles for $4.1 million. The center is located at 5581 Huntington Drive North. It is situated on 25,807 square feet of land. Andrew Awaida of Re/Max Optima represented the buyer. Randy Stevenson, Stephen M. Baker and Kris Hons of Stevenson Real Estate Services represented the seller, Sandale LLC.
PHOENIX — Bixby Land Co. has purchased the Tharco Freeport Distribution Center, a 108,287-square-foot industrial distribution center in Phoenix, for $8.1 million. The institutional-quality center is located at 640 S. 51st Ave. The building is fully leased to Tharco, one of the largest manufacturers and suppliers of unprinted corrugated stock boxes in the U.S. It was built in 1994. DTZ’s Will Strong, Mike Haenel, Andy Markham and Phil Haenel executed the transaction.
WILSONVILLE, ORE. — McLellan Estate Co. has purchased a 76,000-square-foot industrial project in Wilsonville for an undisclosed sum. The project is located at 27929 SW 95th Ave. The two contiguous buildings are situated on about four acres of land at the northwest corner of Boeckman Road & SW 95th Avenue. It is currently 85 percent occupied by Amcor Packaging, Nitroheat LLC and Pack Edge Development. Scott Finney and Nick Chessar of Norris & Stevens represented both McLellan and the seller, Rippey Investments, in this transaction. Norris & Stevens will continue to handle both the leasing and facilities management for the project.
CARLSBAD, CALIF. — Miller Global Properties has purchased Ocean Ridge, a 75,000-square-foot office building in Carlsbad, for an undisclosed sum. The building is located at 5796 Armada Drive. It is currently 77 percent occupied. Notable tenants include MorganStanley, Charles Schwab, West Development and Maketa Investment Group. CBRE’s Louay Alsadek, Larry Cambra, Roger Carlson and Hunter Rowe represented both the buyer and seller, an institutional pension fund advisor, in the transaction.
LOUISVILLE, COLO. — The Colorado Technology Center Portfolio, which contains a total of 631,135 square feet of light industrial space, has received $59 million in financing. The seven-building portfolio was fully leased, and all are situated within the Colorado Technology Center in Louisville, northwest of Denver. Steve Bye and Conor McCahill of NorthMarq Capital’s Denver office arranged the financing with an undisclosed investment bank. The non-recourse loan structure involved a 10-year, fixed-rate term with interest-only payments for three years, followed by a 30-year amortization schedule.
BEAVERTON, ORE. — Nike has leased 105,005 square feet at the AmberGlen Business Center in Beaverton. The 217-acre business campus is 20 minutes from downtown Portland. Bradford Fletcher of Newmark Grubb Knight Frank represented Nike. Chris Johnson, MaryKay West and Brandon Frank of NAI Norris, Beggs & Simpson represented the landlord, AmberGlen Office Corp.
IRVINE, CALIF. — Irvine Co. Retail Properties has announced the opening of new restaurants across its Orange County portfolio, including Fashion Island, Irvine Spectrum Center, The Market Place and several other community centers. Openings include Sushi Roku, American Tea Room and Hopdoddy Burger Bar at Fashion Island in Newport Beach; Kona Grill and Habana, a Cuban restaurant and bar, at Irvine Spectrum Center; TAPS Fish House & Brewery, Famous Dave’s Barbeque, Miguel’s Jr. Homestyle Mexican Food and Piadina Italian Market at The Market Place in Irvine; Mendocino Farms at University Center; California Pizza Kitchen at Alton Square; and Burntzilla Modern Eats at Walnut Village Center.
GLENDALE, ARIZ. — Colliers International has arranged the $6 million sale of Arrowhead Lakes Marketplace, a 22,280-square-foot grocery-anchored retail center located in Glendale. Steve Gonzalez, Marcus Muirhead and Greg Guglielmino of Colliers represented the buyer, DCL Investments LLC, in the transaction. The seller was self-represented. The center was 92 percent occupied at the time of sale.
LOS ANGELES — Carthay Pacific LLC has purchased a 6,789-square-foot retail property in Los Angeles for $3.1 million. The building is located at 6001-6011 W. Pico Blvd. The buyer plans to turn this space into a new multifamily development. The two retail tenants are on short-term leases. Michel Hibbert of Charles Dunn Company represented Carthay. David Aschkenasy of Commercial Asset Group represented the seller, 6001-6011 W. Pico Boulevard LLC.