Western

Robinson Pharma Leases Manufacturing Building in Santa Ana

by Nellie Day May 20, 2015

SANTA ANA, CALIF. – Robinson Pharma has signed a 10-year lease for a 126,796-square-foot industrial manufacturing/warehouse building in Santa Ana. The space is located at 2811 So. Harbor Blvd. The building is now fully occupied. This transaction represents one of the largest lease transactions in Orange County this year, according to Marc Belluomini of CT Realty, the building’s landlord. The firm is currently finishing interior and exterior refurbishments to reposition it as a corporate headquarters facility for Robinson Pharma. The supplement and soft-gel manufacturer was represented by CBRE’s Bob Goodmanson. CT Realty was represented by Dale Camera and Jim Snyder of Lee & Associates.

May 20, 2015

Arizona Multifamily Western

Aura at Midtown Apartments in Phoenix Sells for $8.6M

by Nellie Day May 19, 2015

PHOENIX – The 96-unit Aura at Midtown in Phoenix has sold to Capital Real Estate for $8.6 million. The community is located at 3623 North 5th Ave. It is situated inside Encanto Village. The seller, Pathfinder Partners and Avenue North, was represented by Steve Gebing, Cliff David, Richard Butler, Brian Tranetzki and Trevor Hardy of Marcus & Millichap.

May 19, 2015

California Multifamily Western

Modera Apartments in Concord Sells for $7.3M

by Nellie Day May 19, 2015

CONCORD, CALIF. – The 40-unit Modera Apartments in Concord has sold to a group of local investors for $7.3 million. The community was built in 1969. CBRE’s Keith Manson represented both the buyers and the seller, Graham Chernoff of Cumberland Holdings, in this transaction. The buyers were in a 1031 exchange.

May 19, 2015

California Industrial Western

AREO Renews Manufacturing Space at Irvine Spectrum

by Nellie Day May 19, 2015

IRVINE, CALIF. – AREO Inc. has signed a five-year lease renewal for 44,253 square feet of manufacturing and distribution space in Irvine. The space is located at 15041 Bake Parkway. The home accent products and eco-friendly housewares manufacturing and distribution company was represented by Jeff Saywitz of the Saywitz Company. The landlord, Buckhead Phoenix, was represented by CBRE’s Greg Haly.

May 19, 2015

California Multifamily Western

Long Beach Apartment Community Sells for $3M

by Nellie Day May 19, 2015

LONG BEACH, CALIF. – A 20-unit apartment complex in Downtown Long Beach has sold to a private investor from Egypt for $3 million. The community is located at 765 Cerritos Ave. It was built in 1963 and recently underwent a major renovation. Robert Stepp of Stepp Commercial represented both the buyer and seller, 765 Cerritos LLC, in this transaction.

May 19, 2015

Arizona Industrial Western

ViaWest Buys Industrial Building in Phoenix for $3M

by Nellie Day May 19, 2015

PHOENIX – ViaWest Group has acquired a 72,129-square-foot industrial building in Phoenix for $3 million. The building is located at 77 N. 45th Ave. The building, known as Riverside Industrial, is situated just south of a full diamond interchange at the I-10 freeway, with immediate access to 43rd and 51st avenues. It is fully leased. Will Strong, Mike Haenel, Andy Markham and Phil Haenel of DTZ will continue leasing the property. The group also represented the seller, Cordia Capital Management, in this transaction.

May 19, 2015

Colorado Industrial Market Reports Western Western Market Reports

Colorado Springs Industrial Market Looks Positive

by Nellie Day May 19, 2015

The Colorado Springs industrial real estate market continues to rebound with a decrease in vacancy to 8.1 percent, an increase in the average asking rate to $6.19 per square foot (NNN) and a net positive absorption of 199,101 square feet. Along with these improvements, there has been a healthy number of owner/user acquisitions in the industrial market that has created a more competitive market for both tenants and owner/user buyers over the past year. Colorado Springs will also soon benefit from Sierra Nevada Corporation’s recent decision to construct its new $88-million hangar facility at the Colorado Springs Airport, a development that will significantly aid the city’s struggling southeast submarket. Designed as a 90,000-square-foot facility, construction is slated to begin in early 2016. The company estimates it will create about 2,100 new jobs. The city will further benefit from the formation of a new 225,200-square-foot FedEx distribution facility currently scheduled to open in 2016 These new developments reflect the abundance of opportunities and land options near the airport in the southeast submarkets, with available sites ranging from small sites of less than an acre to sites larger than 50 acres. The southeast area also offers a wide range of office/warehouse flex …

May 19, 2015

California Retail Western

Stock Building Supply Flagship Sells in Los Angeles

by Nellie Day May 18, 2015

LOS ANGELES – A local private investor has purchased a 31,242-square-foot building in Los Angeles that is net leased to Stock Building Supply Holdings for $15.7 million. The building is located at 3860 Grand View Blvd. Stock Building Supply had occupied the building for more than 20 years before deciding to sell the property in late 2014. The lease was restructured into a 15-year term after the building was purchased. This space is the builder’s West Coast flagship property. Stock Building Supply was represented by Chris Sands of Sands Investment Group.

May 18, 2015

Industrial Washington Western

Washington Industrial Portfolio Sells for $11.2M

by Nellie Day May 18, 2015

SEATTLE – A three-building portfolio of light manufacturing, flex and distribution space has sold to Industrial Property Trust Inc. for $11.2 million. The portfolio contains a total of 138,296 square feet throughout the Seattle/Puget Sound region. It includes buildings I, III and V in the West Valley Distribution Center, located at 72nd Ave. South. Buildings I and V are fully leased. West Valley III is a vacant flex facility. The seller, a partnership between ScanlanKemperBard Companies and funds managed by Oaktree Capital Management, was represented by HFF’s Nicholas Kucha and James Childress. The transaction was co-brokered by Wilma Warshak of Washington Real Estate Advisors.

May 18, 2015

California Retail Western

Tesla Motors Leases Dealership Space in Buena Park

by Nellie Day May 18, 2015

BUENA PARK, CALIF. – Tesla Motors has signed a seven-year lease for 23,000 square feet of space in Buena Park. The dealership is located at 6692 Auto Center Drive, within the Buena Park Auto Center. The space was previously occupied by Premier Chevrolet and General Motors. It served as a temporary location while the company’s five-acre dealership was being developed within the auto center. Jodi V. Meade of Avison Young represented both Tesla and the landlord, RST Associates, in this transaction.

May 18, 2015

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