WHEAT RIDGE, COLO. – An 11,470-square-foot building in Wheat Ridge that used to house Furr’s Family Dining has sold to a local buyer for $1.8 million. The building is located at 4900 Kipling Street. Furr’s vacated the building and filed for Chapter 11 bankruptcy earlier this year. The sale was executed by Justin Krieger of Pinnacle Real Estate Advisors.
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EL SEGUNDO, CALIF. — The Los Angeles Lakers have agreed to purchase an undeveloped five-acre parcel within the Elevon at Campus El Segundo development. The purchase price was not disclosed. The site is located at the northwest corner of Mariposa Avenue and Douglas Street in the Los Angeles submarket of El Segundo. The site will be the future training center for the Lakers and its Development League team, the Los Angeles D-Fenders. The facility will also house the teams’ business operations. Elevon will be a 15-building office campus with about 210,000 square feet of for-sale creative office buildings. It will also feature 13,500 square feet of leasable dining and retail space. Elevon is located within Campus El Segundo, a 46.5-acre, mixed-use property. It is situated less than a block from the 405 and 105 freeways. The new project began construction this past November. It is slated for completion in the fourth quarter of this year. The project will reportedly cost $97 million. Elevon is being developed by Continental Development Corporation and its partner, Mar Ventures Inc. CBRE’s Bill Bloodgood and Bob Healey will handle the office sales, while JLL’s Steve Solomon and Carl Muhlstein will oversee build-to-suit opportunities.
GREENWOOD VILLAGE, COLO. — Harlequin Plaza, a 324,833-square-foot suburban office building in Greenwood Village, has received a $28-million refinancing. The building is located at 7600 E. Orchard Road, near the Interstate 225 and 25 interchange, just southeast of Downtown Denver. The two-building plaza was renovated in 2013. It is 90 percent leased. Harlequin’s notable tenants include Dex Media, Cherry Creek Mortgage and BELLCO Credit Union, as well as a mix of other finance, banking, media, engineering and medical firms. The loan was arranged for Unico by HFF’s Tom Wilson, Eric Tupler, Erica Christensen and Kristian Lichtenfels.
LOS ANGELES – A five-property retail portfolio that is based in Downtown Los Angeles’ Fashion District has received a $22-million recapitalization. The borrower was a locally based real estate investment consortium. Financing was composed of individual loans ranging in size from $1.1 million to $8.35 million. The loans were funded by three different off-shore lenders. The second-trust deed mortgage loan had a three-year term at 4.5 percent. The remaining permanent loans each featured seven-year terms, with fixed interest rates of 4 percent for five years. The loans were secured by Quantum Capital Partners. The team was led by Jonathan Hakakha. Quantum was tasked with finding and structuring the appropriate debt on each asset that would best meet the individual partnerships’ specific requirements.
SAN DIEGO – Silver Oak Apartments Venture LLC has acquired the 133-unit Silver Oaks apartment complex in the San Diego submarket of La Mesa for $20 million. The community is located at 7400 Parkway Drive, near Interstate 8. Employers in the area include Sharp Grossmont Hospital, Grossmont-Cuyamaca Community College, San Diego State University and Aztec Shops. The buyer is an affiliate of Pacific Urban Residential. The transaction was executed by Steve Huffman and Shane Shafer of Hendricks-Berkadia.
CASA GRANDE, ARIZ. — Kuehne + Nagel has signed a five-year lease for 201,666 square feet of warehouse and distribution space in Casa Grande. The facility is located at 2592 E. Hanna Road, just south of Chandler. The global logistics company’s new space sits adjacent to Interstate 10. The landlord, Clarion Partners, was represented by JLL’s Pat Harlan, Steve Sayre and Kyle Westfall.
SAN FRANCISCO – The 41-unit Pacific Terrace in San Francisco has received a $20.5-million refinance. The community is located at 1595 Pacific Ave. in the Russian Hill neighborhood. It also features 2,500 square feet of ground-floor retail. The seven-year, fixed-rate loan features a 25-year amortization schedule. It was arranged by Dennis Williams and Brian Esquivel of NorthMarq Capital’s San Francisco office.
MONTCLAIR, CALIF. — Montclair Town Center, a 96,989-square-foot shopping center, has sold to Montclair-ET LLC for $15.8 million. The center is located at 9710-9886 Central Ave. in Montclair. It was 80 percent leased at the time of sale. Montclair Town Center contains 27 tenants, including 24 Hour Fitness, Dollar General, Bank of America (ATM), Burger King, Liberty Tax, Century 21 and Yum Yum Donuts. Montclair-ET, a 1031 exchange buyer, was represented by Eric Treibatch of Ophir Management Services. The seller, Montclair Town Center LLC, was represented by William B. Asher of Hanley Investment Group and Frank Vora of Progressive Real Estate Partners.
NEWARK, CALIF. — Futuris Automotive has leased a 160,000-square-foot industrial building in Newark. The Class A building is located at 6601 Overlake Place within the Prologis Overlake Industrial Center. The new facility has frontage on Highway 84. It was previously occupied by Staples. The landlord, Prologis, was represented by Greig Lagomarsino, Mark Maguire and Kevin Hatcher of Colliers’ Oakland office.
OAKLAND, CALIF. — Visual Supply Co. (VSCO) has leased 24,032 square feet of office space in Oakland. The building is located at 1500 Broadway. The office will serve as VSCO’s headquarters. It will also serve as a multi-purpose workspace, housing an art gallery, multiple meeting areas, an eating commons, outdoor deck and flexible workstations. VSCO was represented by Craig Hagglund and David McCarty of Lee & Associates Oakland and Chris Chavez of Orrick, Herrington & Sutcliffe LLP. The landlord, GSR 1500 Broadway Partners LLC, was represented by Michael Harrison of Equistone.