SAN BERNARDINO, CALIF. — Alere Property Group has acquired a 592,710-square-foot logistics facility in San Bernardino for $34.4 million. The newly constructed facility is located at 701 S. Arrowhead Ave. It sits adjacent to Interstate 215. The facility is situated along the same corridor as Amazon’s new distribution center. The corridor is also home to other e-commerce and major national retailers. Notable neighbors include Hewlett-Packard, Home Depot, Kohls, Mattel, Pepsi, Smuckers, Becton Dickinson, FedEx, Kohler, Michelin, Pactiv Corporation, Pep Boys, Spectrum Brands, Stater Brothers and Unilever. This area is known for its easy access to Interstate 15, as well as the Pomona (60), Riverside (91) and San Bernardino (10) freeways. It also enjoys direct access to the ports of Los Angeles and Long Beach, and to Ontario International Airport. Alere was represented by Kevin McKenna of Colliers International. McKenna will also serve as the property’s exclusive leasing broker, along with CBRE’s Walt Arrington and Jeff Linden.
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AURORA, COLO. – Rondell Homes has acquired the 364-unit Winridge Apartments and Townhomes in Aurora for $34.6 million. The community was built in 1986 at 2075 S. Paris Way. It was 94 percent occupied at the time of closing. Winridge is situated near the DTC Business Corridor, Fitzsimons Life Science District, Lowry and Cherry Creek. The I-225 light rail corridor is also set to open in this area in 2016. Once completed, it will provide access northbound to Fitzsimons, as well as to Denver International Airport. Rondell was represented by Jack Mason of Mason Properties. ARA Colorado’s Terrance Hunt, Shane Ozment, Jeff Hawks and Doug Andrews represented the seller, an international investment advisory firm headquartered inNew York, in this transaction.
TEMPE, ARIZ. — Mill Avenue Office LLC has acquired Hayden Station, a 107,508-square-foot, mixed-use project in Tempe, for $26.5 million. The property is located on the southwest corner of Mill Avenue and 3rd Street. It sits adjacent to a Light Rail station, and is just a short walk to Arizona State University. Hayden Station contains five buildings of office and retail users. The 74,307-square-foot building on 3rd Street serves as a multi-tenant office building. The other buildings are located on Mill Avenue. They range in size from 5,642 square feet to 9,548 square feet. The entire project was 97.9 percent leased at the time of sale. The seller was Holualoa Companies. Bob Buckley, Tracy Cartledge, Steve Lindley, Jeff Hartland, Scott Boardman, Trevor Klinkhamer and Brent Mallonee of Cassidy Turley represented both parties in this transaction.
SAN FRANCISCO – The 106,777-square-foot commercial property in San Francisco that serves as the broadcast and office base of KRON Channel 4 television has sold to a partnership between South Beach Partners and Oryx Partners. The price was not disclosed. The space is located at 1001 Van Ness. KRON has occupied the building since 1967. The station will be relocating to a new facility in North Waterfront later this year, which will allow the new owners to redevelop the property. The seller, Media General, was represented by Daniel Cressman, Mike Taquino and Kyle Kovac of Newmark Knight Frank Cornish & Carey Commercial.
KENNEWICK, WASH. – The 61-room Red Lion Inn & Suites in Kennewick has sold to an unnamed buyer for $4.5 million. The hotel is located at 602 N. Young Street, near the Three Rivers Convention Center. The seller, Sandhu NW Hospitality, was represented by Joseph P. Kennedy of Crystal Investment Property (CIP). CIP is a member of Hotel Brokers International.
LAKE OSWEGO, ORE. – Lake Oswego Crossing, a 10,782-square-foot medical office building, has sold to Dr. Mo Saleh for $2.3 million. The building is located at 17437 SW Boones Ferry Road in Lake Oswego. It will be converted into a dental clinic. The sellers, Kalberer Company and Kalberer Properties, were represented by Jennifer Medak, John Medak and Alexandra Ionescu of NAI Norris, Beggs & Simpson.
SAN DIEGO — Real Office Centers (ROC) has leased 20,319 square feet of office space in San Diego. The Class A space is located at 101 Broadway. It is slated to open this September. The shared office space provider was represented by Voit’s Doug Killian. The landlord is the Irvine Company.
PHOENIX — Coldwater Plaza, a 10,017-square-foot shopping center in Avondale, has sold to Sparty Holdings for $2 million. The plaza is located at 1461 North Dysart Road, just west of Scottsdale. It is fully leased to tenants like Pacific Seafood Buffet, Cricket Wireless, Hire Source Staffing and Checkmate Loans. Sparty was represented by Ken Gatt of Evergreen. The seller, a partnership between North Dysart SG LLC and Coldwater Dysart Partners LLC, was represented by Joseph Compagno, Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office.
NEWARK, CALIF. – Amazon has leased the Cherry Logistics Center, a 575,000-square-foot industrial facility in Newark, according to industry reports. The distribution facility is located at 38811 Cherry Street. It is situated on a 29.4-acre infill parcel within the East Bay Area’s industrial submarket. The development is the first sizable speculative industrial facility delivered to the San Francisco Bay Area in the past 15 years, according to Conor Commercial Real Estate and American Realty Advisors. The two companies developed the center through a joint venture. It is also the largest industrial warehouse to be developed and constructed within the submarket. Amazon’s transaction representsthe largest industrial/warehouse lease deal in the East Bay in more than 10 years. It is also the largest lease deal the Bay Area has seen in more than five years. The center’s exterior build-out is now underway. The facility is being built to LEED-Silver specifications. McShane Construction Company and HPA Inc. served as the design-build team for the construction of the speculative industrial property. They will also provide the significant interior tenant improvements currently underway. The Amazon subsidiary was represented byCushman & Wakefield. The JV was represented by Jeff Starkovich, Jay Hagglund, Sam Higgins, Scott Borgia and …
SAN DIEGO – The 356-unit Tierrasanta Ridge Apartments in San Diego has received a $52-million refinance. The community is located at 5410 Repecho Drive, near the Tierra Santa Shopping Center. The loan features a 10-year term and a 30-year amortization schedule. Financing was arranged by Marty Meagher and Gardiner Champlin of NorthMarq Capital’s San Diego office through its AmeriSphere Fannie Mae DUS platform.