LAS VEGAS — Century Park, a 114,402-square-foot office building in Las Vegas, has sold to Flaming Spencer Garden LLC for $4.3 million. The two-building, Class B property is located at 1771 E. Flamingo Road. It is situated near McCarran International Airport, the Las Vegas Convention Center and the Las Vegas Strip. The seller, Riversource REO 1 LLC, was represented by CBRE’s Charles Moore, Marlene Fujita Winkel and Ashley Kolaczynski.
Western
PLEASANTON, CALIF. – A 64,760-square-foot office building in Pleasanton has sold to 5100 VJ Franklin LLC for an undisclosed sum. The two-story building is located at 5100 Franklin Drive. It was built in 2001. The space was most recently occupied by Hitachi Data Systems. It will now serve as the corporate headquarters for an unnamed tenant. The LLC was represented by Rick Keely, Greig Lagomarsino and Brian Lagomarsino of Colliers International. The seller, Ellis Partners LLC, was represented by Ted Helgans, Jason Chandler, Ned Wood and Mark Triska of the same firm.
BEAVERTON, ORE. — Oregon Metropolitan Elite Gymnastics Academy (OMEGA) has leased 20,014 square feet at the Harvest Court Industrial building in Beaverton. The building is located at 9700 SW Harvest Court. OMEGA will occupy the space Aug. 1. The academy was represented by Ken Boyko of NAI Norris, Beggs & Simpson. The landlord, Lynch Properties LLC, was represented by Scott MacLean of the same firm.
SAN DIEGO – The 21-unit Bahia Vista Townhomes has broken ground in the San Diego submarket of Chula Vista. The community will be located less than a mile from the coastline, one block from the freeway entrance and one-half block from the Palomar trolley station. The one-acre parcel was acquired by Pathfinder Partners LLC last year. Bahia Vista is scheduled for completion next summer. Pathfinder provided the private equity, while Lanshire Housing Partners LLC is acting as developer. The community will be built by Lanshire Development and designed by Rodriguez Associates Architects and Planners.
BEVERLY HILLS, CALIF. – A 68,423-square-foot office building in Beverly Hills has received $25 million in financing. The Class A building is located at 315 South Beverly Drive. It is currently 95 percent occupied. The financing includes a $21-million first mortgage and a $4-million mezzanine loan. The non-recourse loan carries a 10-year term with five years interest-only and a fixed interest rate. The loans were provided by Lucent Capital.
LAKE FOREST, CALIF. – A 103,000-square-foot industrial building in Lake Forest has sold to CT Realty for $13 million. The light manufacturing/warehouse building is located at 20 Icon within the Foothill Ranch Business Park. The Class A building is currently vacant.The CT Realty affiliate plans to implement a capital improvement program to improve the existing building. Gregory Ozimec of Industrial Brokers Inc. represented both the buyer and seller, a private real estate investor, in this transaction.
MURRIETA, CALIF. – A pair of office buildings in Murrieta has sold to Village Walk Murrieta LP for $7.7 million. The first property, Village Walk Corporate Center,is located at 41391 Kalmia Street. The second building is located at 41381 Kalmia Street. Village Walk Corporate Center contains 11 tenants. It is 96 percent occupied. The second building is fully occupied by Pacific Western Bank. Dan Vittoneand Alan Pekarcik of Avison Young represented both the buyer and seller, Village Walk Square LLC, in this transaction.
DENVER – The 22-unit Elegante apartment building in Denver has sold to an unnamed buyer for $3.2 million. The community is located at 707 E. 2nd Ave., just off Speer Boulevard. It is situated near the Denver Country Club. Matt Ritter, Cody Stambaugh and Peter Sengelmann of Pinnacle Real Estate Advisors’ Johnson Ritter Team represented the buyer, while the firm’s Jeff Johnson represented the unnamed seller.
ANAHEIM, CALIF. – A 13-unit apartment complex in Anaheim has sold to a private capital investor for $2.2 million. The community is located at 704 S. Webster Ave. It was built in 1979. Pat Swanson and Brett Bayless of the Swanson Apartment Team represented both the buyer and seller, another private capital investor, in this transaction.
SAN JOSE, CALIF. – Zurich Alternative Asset Management (ZAAM) has purchased a 174-unit apartment building called 121 Tasman in San Jose for $86.7 million. The transit-oriented community resides within the Golden Triangle area of Silicon Valley. The property was built in 2013. It was 95 percent leased by this past April. ZAAM is the alternative investment advisor to Zurich North America (Zurich) and its affiliates. The company is responsible for the group’s hedge fund, private equity and U.S. real estate investments. The ZAAM team representing the buyer was led by managing director Sean Bannon and director Chris Edgar. The seller, a joint venture between LCOR Ventures LLC and Cigna Realty Investors, was represented by Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of Institutional Property Advisors.