SAN DIEGO — Kilroy Realty Corporation (KRC) has purchased The Heights at Del Mar, a 218,940-square-foot office campus, for $126.35 million. The Class A campus is located at 12770-12790 El Camino Real in the San Diego submarket of Del Mar Heights. The property contains a life science building, as well as a 4.2-acre entitled land parcel that can accommodate an additional 90,000-square-foot office or life science facility. The Heights is anchored by Neurocrine Biosciencese and Knobbe Martens Olson & Bear. These two tenants occupy about 94 percent of the property. Additional tenants include Allen Group Architects, Southwest Value Partners and Backplane. This acquisition represents the largest sale within Del Mar Heights since 2007, according to Rick Reeder and Brad Tecca of Cassidy Turley, who resented both KRC and the seller, Prudential Real Estate, in this transaction.
Western
SALEM, ORE. – A 54,661-square-foot industrial property in Salem has sold to an individual/personal trust for $4.9 million. The property is located at 2757-2767 22nd Street SE. At the time of sale, the building was fully occupied by two tenants that were operating on short-term leases. The buyer was represented by Dean Zang, Mark Taylor and Christopher Munley of Marcus & Millichap. The seller, a limited liability company, was represented by Ryan O'Leary and Will Stone of the same firm.
LOS ANGELES – An eight-unit multifamily property in Los Angeles has sold to LA Glo, Inc. for $3.4 million. The community is located at 1451 Hi Point Street in the Faircrest Heights neighborhood near Fairfax and Pico Boulevards. LA Glo was represented by Coldwell Banker. The seller, a local private investor, was represented by Albert Shilton and Blake Rogers of Charles Dunn Company.
MESA, ARIZ. — A 15-acre site within the Las Sendas master-planned community in Mesa has sold to Ryland Homes for $3.3 million. The company plans to use the land for Phase 1 of Desert Creek at Las Sendas. It will close on Phase II, a seven-acre site, in early 2014. The project will be located near the Loop 202 and McDowell Roads. The seller, Talon Properties (Chris Arnold), was represented by Brent Moser, Mike Sutton and Brooks Griffith of Cassidy Turley’s Land Group.
SCOTTSDALE, ARIZ. — Scottsdale Road Plaza, a 14,073-square-foot, mixed-use building in Scottsdale, has sold to RSFM 4253 LLC for an undisclosed sum. The net leasable building is located at 4253 N. Scottsdale Road in Old Town Scottsdale. Steve Julius, Jesse Goldsmith and Traci Russell of CBRE’s Phoenix office represented the seller, SCOTTSDALE 4253 LLC.
LOS ANGELES – An eight-unit multifamily property in Los Angeles has sold to LA Glo, Inc. for $3.4 million. The community is located at 1451 Hi Point Street in the Faircrest Heights neighborhood near Fairfax and Pico Boulevards. LA Glo was represented by Coldwell Banker. The seller, a local private investor, was represented by Albert Shilton and Blake Rogers of Charles Dunn Company.
MESA, ARIZ. — A 15-acre site within the Las Sendas master-planned community in Mesa has sold to Ryland Homes for $3.3 million. The company plans to use the land for Phase 1 of Desert Creek at Las Sendas. It will close on Phase II, a seven-acre site, in early 2014. The project will be located near the Loop 202 and McDowell Roads. The seller, Talon Properties (Chris Arnold), was represented by Brent Moser, Mike Sutton and Brooks Griffith of Cassidy Turley’s Land Group.
SCOTTSDALE, ARIZ. — Scottsdale Road Plaza, a 14,073-square-foot, mixed-use building in Scottsdale, has sold to RSFM 4253 LLC for an undisclosed sum. The net leasable building is located at 4253 N. Scottsdale Road in Old Town Scottsdale. Steve Julius, Jesse Goldsmith and Traci Russell of CBRE’s Phoenix office represented the seller, SCOTTSDALE 4253 LLC.
SALT LAKE CITY — A 49,928-square-foot charter school in Salt Lake City has received an $8.4-million refinance. The transaction allowed the school’s owner to increase his net cash flow by reducing the annual debt service on this asset. The five-year loan amortizes over 25 years at 4.1 percent. It features a 70 percent loan-to-value. The loan was arranged by Colton Smith of Marcus & Millichap Capital Corporation’s Salt Lake City office.
LOS ANGELES – A six-tenant retail property in Los Angeles has sold to Ness Holdings, Inc. for $6.2 million. The property is located at 7601-7615 Beverly Blvd. It is situated across from the Grove, Pan Pacific Park, and the Broadcast Center Apartments. Ness plans to reposition the month-to-month leases. It will also renovate the property.