LOS ANGELES – A 28-unit apartment complex in Los Angeles has sold to Trion Properties for $6.8 million. The community is located at 4620 South Slauson Ave. It was built in 1988. Robert Narchi of Marcus & Millichap represented both the buyer and private seller in this transaction.
SALT LAKE CITY – The 9,234-square-foot Metro Place office building in Salt Lake City has sold to a local social security disability law firm for an undisclosed sum. The building is located at 243 East 400 South. The law firm plans to occupy the space. The seller, ACRES Metro LLC, was represented by Mark Jensen, of Newmark Grubb ACRES.
LAKEWOOD, COLO. – A 41-unit apartment building in Lakewood has sold to a 1031 Exchange buyer for $4 million. The community is located at 375 S. Depew Street, near the Belmar Shopping Center. The buyer was represented by Jeff Johnson of Pinnacle Real Estate Advisors’ Johnson Ritter Team. The unnamed seller was represented by Josh Newell of the firm’s Newell Team.
DENVER — IMT Capital has acquired the 338-unit Alta Alameda Station in Denver for an undisclosed sum. The LEED-Gold-certified community is located at 275 S. Cherokee Street in the Baker neighborhood. The Baker neighborhood, just west of South Broadway, hasn’t received any new housing development in 10 years, according to Alta Alameda’s seller, Wood Partners. Alta Alameda was completed this past July. It is currently more than 90 percent occupied. The community sits across the street from the Alameda Light Rail station, which provides access to Downtown Denver and the Denver Tech Center. The site was previously home to a canning facility that provided rations during World War II, a Coors bottling plant and the Denver Studio complex. IMT Capital purchased this community with its affiliate, IMT Residential. Wood Partners is currently building three other luxury apartment communities in the Denver metro area, including Alta City House next to Union Station, Alta Harvest Station in Broomfield and Alta Cherry Hills in Englewood.
SAN DIEGO – McDonald Property Group and an entity owned by First Industrial Realty Trust have announced plans to develop La Pacifica II, a 237,275-square-foot industrial park in Oceanside. The $26-million project will be the first speculative industrial construction to occur in North San Diego since 2008, according to the developers. The three-building project will be located on a 15.8-acre site within the master-planned Ocean Ranch business park. It will be situated off Interstate 5 and Oceanside Boulevard. Ocean Ranch is also home to Coca Cola, Taylor Made and Genentech, among others. US Foods and FedEx will soon occupy space within the immediate area as well. The new project will feature three light warehouse manufacturing buildings that contain 108,413 square feet, 63,262 square feet and 65,600 square feet. This will be the first development project for McDonald Property Group, a company formed by Bruce McDonald in 2013. First Industrial Financing Partnership acquired the fully improved and entitled site from La Pacifica 2-Ocean Ranch LLC, an entity owned by Cruzan Monroe Investments, this past September for $9.6 million. La Pacifica 2-Ocean Ranch was represented by Aric Stark and Dennis Visser of Cassidy Turley in the sales transaction. The land was sourced …
PHOENIX – A subsidiary of Griffin Opportunities has acquired a 145,000-square-foot flex-office showroom development in the Phoenix submarket of Deer Valley for $21.6 million. The building is located at 2851 W. Kathleen Road. The 9.5-acre property was developed in 1988 and renovated in 2009. It is fully leased to building technologies company Climatec. The subsidiary was represented by Ben Prater of Colliers International. The seller, Intravest 2851 Kathleen LLC, was represented by Bob Lundstedt and Chris Rogers of Daum. This is Griffin Opportunities’ first investment in Deer Valley. It also represents the largest transaction in the Deer Valley submarket so far this year, according to Daum.
SAN FRANCISCO — Uber Technologies has leased 77,600 square feet at the Monadnock Building in Downtown San Francisco. The 205,000-square-foot building is located at 685 Market Street. Uber will occupy four floors. The Monadnock Building was originally constructed in 1907. It is situated near Uber’s other San Francisco offices. It also offers employees easy access to the BART and MUNI. The property is within walking distance of Union Square. Uber will occupy this space by the end of the year. The landlord, Brookfield Property Partners, was represented by Chris Roeder, Jak Churton and Tom Doupe of Jones Lang LaSalle.
SCOTTSDALE, ARIZ. – SheKnows has leased 20,000 square feet at Element at Kierland, a 55,268-square-foot office building in Scottsdale. The space is located at 14614 N. Kierland Blvd. The women’s lifestyle media platform will use this space as its corporate headquarters. SheKnows was represented by Clint Hardison of Keyser. The landlord, Montana Avenue Capital Partners, was represented by Luke Walker, Dave Carder and Eric Schultz of CBRE’s Phoenix office.
HAYWARD, CALIF. — KTR Capital Partners has acquired seven out of the eight buildings comprising the Hayward Corporate Center for an undisclosed sum. The high-tech R&D/flex space is located at 29902-20991 Cabot Blvd. in Hayward. The transaction contains a total of 208,420 square feet. The unnamed seller was represented by Steve Hermann and Robert Gilley of Cassidy Turley.
LOS ANGELES — Fogo de Chao has signed a 15-year lease for 7,414 square feet in Downtown Los Angeles. The Brazilian steakhouse will be located at 800 S. Figueroa Street in the city’s Financial District. It will be situated across the street from the FIGat7th open-air shopping mall. The lease is valued at $6.2 million. The space was previously occupied by Roy’s Hawaiian Fusion. It is currently undergoing tenant improvements. Fogo de Chao is hoping to open in the fourth quarter of this year, in time for the holiday season. The restaurant was represented by Sierra Commercial Real Estate. The landlord, 800 Fig Verona Corp., was represented by Derrick Moore of Avison Young.