PHOENIX — Sprouts Farmers Market has relocated its corporate headquarters in Phoenix. The natural and organic grocery store will soon occupy 77,400 square feet at 5455 E. High Street. It is relocating from the nearby Paradise Village Office Park. The Offices on High Street include seven buildings that total 330,000 square feet. They are situated within the High Street mixed-use project, which also features 99 multifamily residences and 175,000 square feet of ground-floor retail, dining and entertainment. Sprouts will join existing High Street tenants like Gigya Inc., Alliance Financial Resources, Nobis Technology Group and Yeager North. Its new office will occupy three floors, in addition to a ground-floor retail outpost. Sprouts is scheduled to relocate next spring. The landlord, ScanlanKemperBard Companies and Wayzata Investment Partners LLC, was represented by JLL’s John Bonnell, Brett Abramson and Greg McMillan. Sprouts was represented by Scott Maxwell of Cresa.
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SAN DIEGO — Trigild has named Jeff Santoni as its new hospitality asset manager. He will oversee operational performances and monitor sales results for all of the firm’s hotel properties. Santoni will also review and analyze key data, including operating budgets, competitive markets, sales, site inspections, guest satisfaction and performance. Santoni most recently worked as a consultant. Prior to that, he was with Marriott Vacations Worldwide where he worked as a senior asset manager for the Western and Hawaii regions. The San Diego-based real estate firm specializes in property/asset management and fiduciary services.
HESPERIA, CALIF. – A 66,389-square-foot retail building in Hesperia that is occupied by Kmart has sold to a private California real estate investment company for $5.2 million. The building is located at 16968 Main Street within the Midtown Square Shopping Center. The center is also anchored by Stater Bros. and Orchard Supply Hardware. The buyer was represented by David Chasin at Pegasus Investments. The seller, The Burokas Family Trust, was represented by Brad Umansky and Frank Vora of Progressive Real Estate Partners.
MADERA, CALIF. – A 4,558-square-foot retail property in Madera that is net leased to IHOP has sold to an unnamed buyer for $2.4 million. The property is located at 2201 West Cleveland Ave. IHOP has occupied this space since it was originally constructed in 1995. Steve Sauter of Marcus & Millichap’s Palo Alto office represented the seller, a private investor.
SANTA MONICA, CALIF. – An eight-unit apartment building in Santa Monica has sold to a local private investor for $2 million. The community is located at 1811 19th Street, near Michigan Avenue. It was built in 1960. The buyer was represented by Wes Wellman of Wellman Realty Company. The sellers, two Los Angeles-based family trusts, were represented by Kimberly Roberts Stepp of Charles Dunn Company.
PHOENIX – A 28,520-square-foot industrial building in Phoenix has sold to Aim Wholesale for $2 million. The building is located at 2757 E. Chambers Street in the Southern Gardens Industrial Building. It had been occupied by plumbing products distributor Bobier Sales since 2006. Aim Wholesale will be expanding from its former 19,000-square-foot space. The purchasing entity was Syllar Enterprises. The seller was 2757 E Chambers LLC. Steve Bodeman of DAUM’s Phoenix office represented both parties in this transaction.
LOS ALTOS, CALIF. -Jos. A. Bank has signed a 10-year lease for 4,087 square feet at the Colonnade mixed-use development in Los Altos. The space is located at 4750 El Camino Real in Silicon Valley. The new store will sit adjacent to Whole Foods and directly across from San Antonio Shopping Center. Colonnade is being developed by Sares Regis Group of Northern California and Pritzker Realty Group. Jos. A. Bank was represented by Laura Tinetti of SRS Real Estate Partners. Sares Regis was represented by Randol Mackley and Steve Gazzera of the same firm.
SALT LAKE CITY — USAA Real Estate Company has announced plans to build a 590,000-square-foot logistics center in Salt Lake City. The dual distribution warehouses will be situated on 31 acres at the entrance to the master-planned Bonneville Center. The 480-acre Bonneville Center is located two miles west of Salt Lake City International Airport. The new Class A project is known as I-80 Logistics Center due to its close proximity to the interstate. The first phase of I-80 Logistics Center will include two buildings of 305,760 square feet and 283,920 square feet. Each building will be designed to accommodate up to six tenants. The properties can also be combined to accommodate a larger user that requires up to 650,000 square feet. The project is being co-developed by Seefried Properties. USAA originally acquired 57.4 acres near the Bonneville Center, 26.4 of which may be used to construct a third building with 502,320 square feet at a later date.
SAN FRANCISCO — ASB Real Estate Investments has acquired a 111,497-square-foot creative office and retail property in San Francisco for $61.2 million. The six-story property is located at 989 Market Street, near the intersection of Market Street and 6th Street in the city’s Mid-Market corridor. The historic office building was originally constructed in 1908. It underwent extensive renovations from 2011 to 2013. It is now 94 percent occupied. Notable tenants include tech companies Zendesk and Zoosk, as well as Blick Art Supplies, which occupies the ground-floor retail space. The seller, Harbert Management Corporation, was represented by HFF’s Steven Golubchik, Nicholas Bicardo, John Simerlein, Nathan Blair, Mark Damiani and Josh DiSalle. HFF had previously secured $27.69 million in financing for the seller in 2012.
PHOENIX – A limited partnership formed by the Sheiner Group has acquired the 384-unit Colter Park apartment complex in Phoenix for an undisclosed sum. The community is located at 909 West Colter Street, near the Melrose District/7th Avenue/Camelback Valley Metro light rail station. The community was built in 1972. It also enjoys easy access to the Uptown/Midtown office corridor, Downtown Phoenix and the Biltmore area of the Camelback Corridor. The seller, an institutional pension fund advisor, was represented by Steve Gebing of Institutional Property Advisors and Cliff David of Marcus & Millichap.