COMMERCE, CALIF. — KTR Capital Partners has purchased a four-property industrial portfolio in Commerce for an undisclosed sum. The 254,000-square-foot portfolio is located along 61st and Randolph streets. The buildings are 85 percent leased to six tenants. The disposition was handled by Mike Sidney, Mike Foley, John McMillan, Jeff Sanita, Jeff Chiate and Jeff Cole of Cushman & Wakefield. The seller was Erwin & Essie Appel Trust.
Western
CARLSBAD, CALIF. — Drawbridge Realty Trust has purchased Pacific View Corporate Center, an 80,862-square-foot office building in Carlsbad for $22.2 million. The Class A center is located at 5759 Fleet Street in the Carlsbad Ranch area. It is fully leased to Synteract and RF Micro Devices. Drawbridge was represented by Rick Reeder, Joe Anderson and Dennis Visser of Cassidy Turley’s North San Diego office. The seller, TA Realty Associates, was represented by Jeff Cole, Ed Hernandez, Michael Roberts and Brunson Howard of Cushman & Wakefield.
LOS ANGELES — Paragon Commercial Group, LLC, has purchased the 112,649-square-foot Woodland Hills Shopping Center for an undisclosed sum. It was purchased through PCG Woodland Hills Topanga LLC, an affiliate of Paragon. The center is located at 6201-6263 Topanga Canyon Blvd. in the Los Angeles submarket of Woodland Hills. It sits across from Westfield’s two existing Warner Center malls, as well as the proposed Village at Westfield Topanga, which is designed to be a 1-million-square-foot retail and entertainment complex. The center was fully occupied at the time of sale. Notable tenants include Toys “R” Us, Office Depot and Off Broadway Shoes.This is Paragon’s second acquisition in the San Fernando Valley. Both the company and the seller, Woodland Hills Retail, LLC, were represented by Bill Bauman and Kyle Miller of Studley’s National Retail Services Group.
RIVERSIDE, CALIF. — Michaels Plaza, a 62,834-square-foot community shopping center in Riverside, has sold to The Krausz Companies for $15 million. The center is located at 10321-10357 Magnolia Ave. It was 97 percent leased at the time of sale. Notable tenants at the center include Michaels, David’s Bridal, Lamps Plus, AAA Gold Exchange, Armed Forces, GameStop and The Flame Broiler. Edward B. Hanley, William B. Asher and Kevin T. Fryman of Hanley Investment Group represented both the buyer and the seller, an Orange County, Calif.-based private partnership, in this transaction.
BELLEVUE, WASH. — Sharp Electronics Corporation has leased 13,472 square feet at Ridgewood Corporate Squareoffice complex in Bellevue. The seven-building, Class A park is located at 120th Avenue NE. Sharp was represented by Tom Wilson of Cushman and Wakefield. The seller, was represented by CBRE’s Scott Davis.
LOS ANGELES — Paragon Commercial Group, LLC, has purchased the 112,649-square-foot Woodland Hills Shopping Center for an undisclosed sum. It was purchased through PCG Woodland Hills Topanga LLC, an affiliate of Paragon. The center is located at 6201-6263 Topanga Canyon Blvd. in the Los Angeles submarket of Woodland Hills. It sits across from Westfield’s two existing Warner Center malls, as well as the proposed Village at Westfield Topanga, which is designed to be a 1-million-square-foot retail and entertainment complex. The center was fully occupied at the time of sale. Notable tenants include Toys “R” Us, Office Depot and Off Broadway Shoes. This is Paragon’s second acquisition in the San Fernando Valley. Both the company and the seller, Woodland Hills Retail, LLC, were represented by Bill Bauman and Kyle Miller of Studley’s National Retail Services Group.
RIVERSIDE, CALIF. — Michaels Plaza, a 62,834-square-foot community shopping center in Riverside, has sold to The Krausz Companies for $15 million. The center is located at 10321-10357 Magnolia Ave. It was 97 percent leased at the time of sale. Notable tenants at the center include Michaels, David’s Bridal, Lamps Plus, AAA Gold Exchange, Armed Forces, GameStop and The Flame Broiler. Edward B. Hanley, William B. Asher and Kevin T. Fryman of Hanley Investment Group represented both the buyer and the seller, an Orange County, Calif.-based private partnership, in this transaction.
BELLEVUE, WASH. — Sharp Electronics Corporation has leased 13,472 square feet at Ridgewood Corporate Square office complex in Bellevue. The seven-building, Class A park is located at 120th Avenue NE. Sharp was represented by Tom Wilson of Cushman and Wakefield. The seller, was represented by CBRE’s Scott Davis.
LAS VEGAS – The 41-year-old former Las Vegas City Hall has completed its transformation into the new Zappos headquarters. The online retailer will now be based at 400 E. Stewart Ave. in Downtown Las Vegas. Zappos purchased the building for $18 million. The company was formerly based in nearby Henderson after relocating to Nevada from San Francisco in 2004. The creative office space was designed to LEED-Gold specifications. The $60-million renovation began in August 2012. It was carried out by The PENTA Building Group.
OGDEN, UTAH — An entity sponsored by LBG Real Estate Companies, LLC has purchased The Family Center at Ogden Five Points, a 161,795-square-foot community shopping center. The purchase price was not disclosed. The center is located at 129 N. Harrisville Road just north of Salt Lake City. The acquisition also includes about six acres of adjacent land that could accommodate retail and residential development.The Family Center was 95 percent leased at the time of sale. Notable tenants include Planet Fitness, Dollar Tree, Harbor Freight Tools, Key Bank and Radio Shack. It is anchored by Harmons grocery store, which is currently undergoing a major renovation at the center. The shopping center is also set to undergo a significant redevelopment.