RIALTO, CALIF. — CapRock Partners has acquired two fully entitled land parcels in Rialto. The parcels are called CapRock Distribution Center I and II. The first parcel is located at the northeast corner of North Locust and West Bohnert. The second is located at the northwest corner of North Linden Avenue and West Casmalia Street. CapRock plans to build more than one million square feet of industrial space on the two sites this fall. The project will have direct access to the 210 Freeway. It’s also near the 10/15 Freeway interchange. CapRock also received $50 million in debt and equity financing that was facilitated by Chris Bramel and Paul Conzelman of Bridgeport Investments.
Western
SAN DIEGO – SR Commercial has acquired the Mark II Portfolio, an industrial and office portfolio in San Diego that contains a total of 228,061 square feet, for $35.1 million. The portfolio includes 9450, 9484, 9530, 9537, 9557, 9705, 9707, 9779 Candida Street; 9474, 9524 and 9545 Kearny Villa Road; 9550 Miramar Road; and 9606, 9636, and 9663 Tierra Grande Street. The portfolio is 94 percent leased. About 65 percent of this space will become available over the next three years. All of the properties were built between 1982 and 1999. The portfolio’s largest tenant is 24 Hour Fitness, which occupies the full 31,000-square-foot building at 9550 Miramar Road. Other tenants include White Labs, S&R Sports Inc., Secure Transportation and John Deere Landscapes. Rick Reeder, Brad Tecca, Bryce Aberg and Brant Aberg of Cassidy Turley represented both the buyer and seller, TA Associates Realty, in this transaction. The Abergs will continue to provide leasing services to the new ownership.
TUCSON, ARIZ. – Omninet Capital LLC has acquired a four-property multifamily portfolio in Tucson for $34.6 million. The Class B portfolio includes 1,166 units. The value-add properties included in the transaction are Sedona Springs at 373 N. Wilmot Road; Sienna Ridge at 5353 E. 22nd Street;Summit Ridge at 1252 S. Craycroft Road; and Verrano Park at 6850 E. Gold Links Road. Omninet represented itself in this transaction. The seller, Gaines Investment Trust, was represented by Cindy Cooke and Brad Cooke of Colliers International. This sale is the largest multifamily portfolio sale unit-wise in Tucson since 2010, according to Colliers.
TEMPE, ARIZ. — Passco InSite LLC, a joint venture between Passco Companies LLC and InSite Investment Realty, has acquired the 270-unit Ovation at Tempe for $25.8 million. The Class B community is located at 4502-4505 S. Hardy Drive. Community amenities include a fitness center, two swimming pools, two spas, tennis court, children’s playscape, picnic area with barbeque grills and covered parking. The property was originally built as a condominium complex. The JV plans to upgrade the units’ interiors, add carports, and enhance the property’s exterior and community amenities.
PORTLAND, ORE. — Swift Realty Partners has acquired the Executive Building, a 104,630-square-foot office building in Downtown Portland, for $21.1 million. The Class A building is located at 811 SW 6th Ave. The Executive Building is situated at the intersection of Portland’s main MAX light rail lines, near Interstates 5 and 84 and Highway 26. The property is also near amenities like the Pioneer Place Shopping Center and The Nines Hotel. The building is 91.4 percent leased to three tenants, including J.P. Morgan Chase and the State of Oregon Department of Environmental Quality (DEQ). The seller, The Matteson Companies, was represented by HFF’s Nick Kucha and Michael Leggett.
PORTLAND, ORE. – A 49,946-square-foot office building has sold to Swift Real Estate Partners for $8.5 million. The building is located at 811 SW Naito Parkway. It sits on the waterfront of the Portland Central Business District. The property was built in 1982 and renovated in 2013. The seller, ATC Partners LLC, was represented by HFF’s Nicholas Kucha and Michael Leggett.
CHANDLER, ARIZ. — Crown Castle International has leased 70,000 square feet of Class A office space in Chandler. The property is located off Loop 202. The shared wireless infrastructure provider will occupy the space next July. The landlord, LGE Design Build, represented itself in this transaction. Crown Castle was represented by Keith Lambeth, Todd Noel and Ryan Timpani of Colliers International.
SANTA CLARA, CALIF. – Computer Associates has leased 53,716 square feet of space at Santa Clara Towers. The two-building, Class A campus is located at 3965 Freedom Circle in Santa Clara. The landlord, Shorenstein, was represented by Phil Mahoney, Randy Gabrielson and Mike Saign of Cornish & Carey Commercial Newmark Knight Frank.
BELLEVUE, WASH. — Hitachi has expanded its footprint at Bellevue Technology Center by leasing 35,000 square feet of space. The center is located in the eastside submarket of the Puget Sound region. It is 83 percent leased. Hitachi was represented by JLL’s Ryan Atkinson, Chris Hughes and Steve Schwartz. The landlord, KBS Strategic Opportunity REIT, was represented by JLL’s Mark Flippo and JJ Shepard.
VANCOUVER, WASH. – BergerABAM has leased 8,000 square feet of office space in downtown Vancouver. The property is located at 210 E 13th Street. The engineering and environmental firm will be relocating from nearby 1111 Main Street. BergerABAM was represented by Eric Turner of Cresa. The landlord, Block 56 LLC, was represented by JLL’s Tom Shimota and John Lee.