SAN DIEGO – A 15,488-square-foot industrial building in the Miramar submarket of San Diego has sold to Empire Electrical Supply for $2.6 million. The building is located at 7150 Carroll Road. Empire will use the building for the storage and distribution of electrical supplies. It will also contain office space for contracting work. The seller, Charter Industrial Supply, was represented by Nick Price of Voit Real Estate Services’ San Diego office. The transaction was an owner-user exchange.
DENVER – A two-story, mixed-use building in Denver has sold to an unnamed buyer for $2.1 million. The building is located at 821-827 Corona Street. It was built in 1919. The buyer was represented by Matt Ritter, Jeff Johnson, Cody Stambaugh and Peter Sengelmann of Pinnacle Real Estate Advisors. The unnamed seller was represented by Jules Hochman, Justin Brockman and Billy Riesing of the same firm.
PHOENIX – A 3,848-square-foot building in Phoenix that is net leased to Raising Cane’s has sold to an unnamed buyer for $3.5 million. The space is located at 4506 E. Cactus Road. The seller, a developer, was represented by Jamie Medress and Mark Ruble of Marcus & Millichap’s Phoenix office.
TUSTIN, CALIF. – A 16,986-square-foot industrial building in Tustin has sold to Subaru Research and Development for $3.3 million. The building is located at 14282 Chambers Road. Subaru was represented by CBRE. The seller, Shabani Investments LLC, was represented by Matt Durkin of Lee & Associates – Newport Beach.
PORTLAND, ORE. – Gaw Capital Partners has acquired the Yeon Building, a 126,885-square-foot creative office building in Portland, for an undisclosed sum. The historic building is located at 522 SW Fifth Ave. It was originally built in 1911 and renovated in 2011. The Yeon Building contains 114,113 square feet of office, 11,332 square feet of retail space and 1,440 square feet of amenity space. It is 85.6 percent leased to tenants in the technology, entertainment/gaming, legal, nonprofit, engineering, counseling, music, financial and real estate industries. The seller, an affiliate of Jonathan Rose Companies, was represented by HFF’s Nick Kucha and Michael Leggett.
WEST COVINA, CALIF. – South Hills Plaza, a 120,589-square-foot community shopping center in West Covina, has sold to LT Global for $20.6 million. The center is located at the corner of Azusa Avenue and East Aroma Drive. Notable tenants include Marukai Market, 24 Hour Fitness, Taco Bell, Subway, USPS and Charter Communication. CBRE’s Philip D. Voorhees, Jimmy Slusher, Megan Read, Matt Burson, Brad Rable and John Read represented both the buyer and seller, a Los Angeles-based partnership, in this transaction.
FOLSOM, CALIF. – The 260-unit Fairmont at Willow Creek in Folsom has received $28.5 million in refinancing. The community is located at 200 S. Lexington Drive. The loan includes a 10-year interest-only term. Financing was arranged by Michael T. Elmore of NorthMarq Capital’s Los Angeles office through the firm’s Fannie Mae DUS lender. The borrower was CWS Capital Partners.
PHOENIX – Propak Logistics has leased 48,735 square feet of industrial space at Estrella Business Park in Phoenix. The space is located at 1010 S. 65th Ave. The new lease marks Propak’s entry into metropolitan Phoenix. It also brought the building to full occupancy. Propak was represented by CBRE’s Pat Feeney, Dan Calihan, Rusty Kennedy and Bob Pielsticker. The landlord, EJM Development Co., represented itself in the lease negotiation.
PASADENA, CALIF. – The Commons, an 85,743-square-foot office and retail complex in Pasadena, has sold to a global investment management firm for an undisclosed sum. The complex is located at 140-146 South Lake Ave. It is occupied by tenants like Drybar, Soul Cycle, Lemonade, Green Street Café, The Counter, 18/8 and Seco New American. The buyer plans to further enhance value and hold the property long term. Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller, a joint venture between Arenda Capital Management and Arenda Capital Management, in this transaction.
TUKWILA, WASH. – The 80-unit Newport Heights Apartments in Tukwila has sold to Woodspear Newport Heights LLC for $10.5 million. The community is located at 5600 S. 152nd Street. The buyer represented itself in this transaction, while the seller, HRA SPVEF II LLC, was represented by Joe Levin, Tim McKay and Dan Chhan of Colliers International.
