SAN LEANDRO, CALIF. – An 85,089-square-foot food manufacturing warehouse in San Leandro has sold to Berber Food Manufacturing, Inc, dba Mi Rancho, for an undisclosed sum. The warehouse is located at 427 Hester Street. Mi Rancho is a local family business that produces and distributes tortillas. The seller, Lowenberg Corporation, was represented by Greig Lagomarsino of Colliers International’s Oakland office. Financing was provided by Tom Signorelli with Westgate Financial.
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HAYWARD, CALIF. — Biolog Inc. has renewed its lease for 27,897 square feet at Britannia Business Park in Hayward. The park is located at 21124 Cabot Blvd. Biolog was represented by Todd Severson and Rick Keely of Colliers International in Oakland. The landlord was represented by WP Investments.
PHOENIX — Ace Hardware has leased 15,000 square feet at Desert Foothills Plaza in Phoenix. The plaza is located at 1323 East Chandler Blvd. in the Ahwatukee Foothills. Notable tenants at the plaza include Bank of America, Big O Tires, Chase Bank, Grease Monkey and Walgreens. Ace Hardware was represented by Brent Mallonee of Cassidy Turley’s retail group. The landlord, Foothills Plaza LLC, represented itself in this transaction.
SAN FRANCISCO – LinkedIn has signed a lease for a 450,000-square-foot office building in San Francisco that is currently under construction. The 26-story building is located at 222 Second Street. It will be ready for occupancy in early 2016. The world’s largest online professional network is headquartered in nearby Mountain View, though it has been steadily increasing its presence in San Francisco. LinkedIn currently occupies 135,000 square feet at One Montgomery Tower. It will soon occupy 87,000 square feet at 505 Howard Street as well. The new office building is being designed for LEED-Gold certification. It will include 8,500 square feet of public space. The space is owned by Tishman Speyer.
LOS ANGELES — BRE Properties has completed construction on the $105-million Wilshire La Brea mixed-use development in Los Angeles. The 800,000-square-foot project includes 478 residential units atop 39,000 square feet of retail. The Art Deco retail component is called The Square at Wilshire La Brea. Wilshire La Brea is located at the intersection of Wilshire Boulevard and La Brea Avenue in the Mid-City neighborhood. Residential amenities include two fitness centers, a mezzanine with a wet bar and deck, two swimming pools with massage spas, a club room, a sundeck and rooftop skydeck with fireplaces and barbeque grills, and a game room with televisions, poker tables and shuffleboard. The 3.38-acre site was previously occupied by an abandoned bank building that had been converted to a Korean church. This was one of the first projects to take advantage of Los Angeles’ new planning policy, which allows obsolete structures to be replaced, thereby encouraging higher-density projects in the city’s urban infill areas. The project is targeting LEED-Silver certification. It was built by Bernards and designed by TCA Architects.
LATHROP, CALIF. – Tesla Motors has signed a lease for a 430,000-square-foot facility in Lathrop. The facility is located at 18260 Harlan Road, about 10 miles south of Stockton, in west San Joaquin County. The facility was previously occupied by a parts distribution center for Chrysler, which closed in 2009, according to reports.
SAN JOSE, CALIF. — Swift Realty Partnershas acquired Community Towers, a 309,235-square-foot office complex in downtown San Jose, for $40 million. The transit-oriented complex is located at 111 West St. John Street & 111 North Market Street. It is situated next to San Pedro Square, near San Jose’s SAP Center. Community Towers was originally built in 1963 and 1965. It underwent a renovation from 2007 to 2008. It is currently 94 percent leased to tenants like Kerio Technologies, Anatomage, Rockwell Automation and Sunwize. HFF’s Steven Golubchik, Nicholas Bicardo and John Simerlein represented the seller, the Canadian Imperial Bank of Commerce, in this transaction.
LOS ANGELES — The Magellan Group has recently closed on three acquisition and development transactions in Southern California. The company is also in escrow on a fourth investment that should close in May. The transactions include the acquisition of a 14-acre site at 1869-2069 Massachusetts Ave. in Riverside for $6.5 million, and a 4.8-acre site at 5115 Azusa Canyon in Baldwin Park for $4 million. The Riverside site currently contains a fully leased manufacturing building and yard area. Magellan plans to redevelop the property and add new industrial space as these leases expire over the next five years. The Baldwin Park site contains three buildings that total 70,000 square feet. They are currently leased on short-term bases. Magellan also plans to redevelop this site once the leases expire. Construction will also commence next month on a building conversion in Duarte. Magellan purchased the building, which used to serve as the building site for the Tournament of Roses parade floats, in March 2013 for an undisclosed sum. The building is located at the intersection of Buena Vista and Duarte Road. Magellan plans to convert the property into a 79,668-square-foot storage facility that will contain 728 units. The $10.6-million project is scheduled …
HONOLULU — KZ DevCo LP has completed construction on a 20,114-square-foot Long’s Drugs in Honolulu. The new store is located at 1030 King Street in the Makiki neighborhood. The project costs totaled more than $25 million, making it one of the most expensive Long’s projects to date. Long’s broke ground in the second half of 2013. It is expected to open for business this June.
SCOTTSDALE, ARIZ. – A 9.5-acre land parcel in the Scottsdale Airpark has sold to Boeing V LLC for $8.3 million. The 415,562-square-foot parcel was the largest remaining for-sale commercial parcel with runway access in the Airpark. It is located on the south side of the airport’s runway. Boeing was represented by Mark Linsalata of Lee & Associates. The seller, Phoenix Dragon FEI LLC was represented by Linsalata, along with Bill Blake and Fred Darche.