Western

Walgreens Property in Long Beach Sells for $6.4M

by Nellie Day November 20, 2014

LONG BEACH, CALIF. – A 15,200-square-foot retail property in Long Beach that is net leased to Walgreens has sold to a private West Covina investor for $6.4 million. The building is located at 2627 Pacific Ave. It includes a 24-hour drive-thru. Walgreens has less than 10 years remaining on the initial term. The 1031 exchange buyer was represented by Nick Peukpiboon and Lara Rudolph of Daum Commercial Real Estate Services. The seller, a private investor from Huntington Beach, was represented by Edward B. Hanley, Kevin T. Fryman and Eric P. Wohl of Hanley Investment Group Real Estate Advisors.

November 20, 2014

Multifamily Nevada Western

Townhome Villas in Las Vegas Sells for $8M

by Nellie Day November 20, 2014

LAS VEGAS – The 173-unit Townhome Villas in Las Vegas has sold to Las Vegas Residential Properties for $8 million. The community is located at 1000-1100 Dumont Blvd. The seller, H&B One LLC, was represented by NAI Vegas’ Sauter Multifamily Group.

November 20, 2014

California Retail Western

Blue Line Pizza Opens in Daly City

by Nellie Day November 20, 2014

DALY CITY, CALIF. – Blue Line Pizza has opened a 2,978-square-foot pizzeria at Westlake Shopping Center in Daly City. The new outpost is located at 511 Westlake Center. This is the pizza chain’s fifth Bay Area location. The restaurant was represented by Ross White of SRS Real Estate Partners’ San Francisco office. The landlord was not named.

November 20, 2014

Colorado Retail Western

Erie Moves Forward on King Soopers Shopping Center Development

by Nellie Day November 20, 2014

ERIE, COLO. – The Town of Erie is moving forward on an agreement that would give it the exclusive option to purchase a 20-acre site where a shopping center anchored by King Soopers would soon be developed. The 125,000-square-foot center would be located at the northwest corner of Highway 7 and Sheridan. The option agreement was recently approved, making way for King Sooper to submit a development application. Once that is completed, the town and the supermarket can move forward on a development agreement.

November 20, 2014

Hospitality Western

Strategic Hotels Buys Four Seasons Resort Scottsdale at Troon North for $140M

by Nellie Day November 19, 2014

SCOTTSDALE, ARIZ. — Strategic Hotels & Resorts has purchased the 210-room Four Seasons Resort Scottsdale at Troon North for $140 million. The AAA Five Diamond resort is located at 10600 E. Crescent Moon Drive. The transaction includes 13.8 acres of developable land that is zoned for an additional 88 rooms, among other things. The hotel features 22 suites, 24,000 square feet of indoor meeting space, a 14-treatment room spa, four food and beverage outlets and contractual access to 36 holes of championship golf at the adjacent Troon North Golf Club. Four Seasons will continue to manage the property. The seller was an affiliate of Walton Street Capital.

November 19, 2014

California Multifamily Western

Rockwell Condo Development Breaks Ground in San Francisco

by Nellie Day November 19, 2014

SAN FRANCISCO — Oyster Development Corp. and Tricon Capital have broken ground on Rockwell, a 260-unit condominium development in the Pacific Heights neighborhood of San Francisco. The twin, 13-story towers will be located at 1634-1690 Pine Street. The development will include a 4,000-square-foot, ground-floor retail component and one level of below-grade parking for 201 cars. The first tower is scheduled for completion in July 2016. Sales will commence next April. JLL’s John Manning and Alex Witt secured $143.5 million in construction financing for the project. It was provided by National Real Estate Advisors.

November 19, 2014

California Multifamily Western

StarPoint Buys Lafayette Parc Apartments in West Covina for $51.7M

by Nellie Day November 19, 2014

WEST COVINA, CALIF. — StarPoint Properties has purchased the 259-unit Lafayette Parc Apartments in West Covina for $51.7 million. The community is located at 624 South Glendora Ave. Lafayette Parc was built in 1964. It is currently 97 percent occupied. Community amenities include seven pools, a fitness center, tennis and basketball courts, on-site laundry, barbecues and a picnic area. The renovation will focus on many common-area upgrades. The community will receive a new leasing office, an upgrade and expansion of the main pool, including cabanas and a new barbecue/lounge area, a new spa, a new fitness center to overlook the pool, a sand volleyball court, resurfacing of the existing basketball and tennis courts, and the installation of a soccer field, dog park and theatre. Lafayette Parc’s seller was not named.

November 19, 2014

California Industrial Western

Scuderia Development Buys Riverside Industrial Facility for $43.5M

by Nellie Day November 19, 2014

RIVERSIDE, CALIF. — Scuderia Development has acquired a 600,000-square-foot industrial property in Riverside for $43.5 million. The Class A property is located at 14600 Innovation Drive, within the Meridian Business Park. Scuderia plans to utilize the space as a warehouse and distribution facility for its aluminum products. The property includes 4,160 square feet of office space. Other notable tenants at Meridian Business Park include Sysco Corp., Yucaipa Company (Fresh & Easy), Kia Motors and McLane Foodservice. Newcastle Partners completed the property in late 2013. Phil Lombardo and Chuck Belden of Cushman & Wakefield represented both the buyer and Newcastle in this transaction.

November 19, 2014

California Office Western

Kilroy Buys Sunnyvale Office Property for $98M

by Nellie Day November 19, 2014

SUNNYVALE, CALIF. — Kilroy Realty Corporation has acquired a 261,000-square-foot office property in Sunnyvale for $98 million. The four-building complex is located in the Moffett Park district. Kilroy has been extremely active in the Silicon Valley and San Francisco Bay Area regions, as of late. The office development specialist recently leased a 587,000-square-foot, three-building Sunnyvale campus to LinkedIn. It is also building a 340,000-square-foot space in San Francisco’s South of Market (SOMA) district that has been leased to Salesforce. Divco, the Moffett Park seller, was represented by Dan Ball of Gibson Dunn. Kilroy was represented by Pete Roth of Allen Matkins in this transaction.

November 19, 2014

California Multifamily Western

Los Angeles Apartment Building Sells for $8.1M

by Nellie Day November 18, 2014

LOS ANGELES – A 33-unit apartment building in Los Angeles has sold to Unison Investment Company for $8.1 million. The community is located at 1154 Bellevue Ave. in the Echo Park neighborhood. It was built in 2008. Unison Investment was represented by John Chu of New Life Properties. The seller, Bellevue Development Ventures, was represented by Michel Hibbert of Charles Dunn Company.

November 18, 2014

Newer Posts

Older Posts