SAN DIEGO — AltheaDx has leased a 69,808-square-foot corporate headquarters building at Torrey Ridge Science Center in San Diego. The building is located at 10578 Science Center Drive in Torrey Pines. AltheaDx will be relocating from nearby Sorrento Valley in the first quarter of next year. It was represented by Ted Jacobs, Brent Jacobs and Greg Bisconti of Cushman & Wakefield. The landlord, Legacy Partners, was represented by Rich Danesi and Ryan Egli of the CBRE Life Sciences group.
Western
HONOKOWAI, HAWAII – The 34-unit Honokowai Plantation Inn apartment community in Maui has sold to an out-of-state private investment company for $4.4 million. The community is located at 3510 Lower Honoapiilani Highway, near Kaanapali. The buyer was represented by Keoni Fursse and Kara Heen of Kokua Realty. The firm will also manage the community.
DENVER – A 34-unit apartment building in Denver called 19th Place has sold to a local private investor for $4 million. The community is located at East 19thAve. It was 94 percent occupied at the time of sale. The seller, another private local investor, was represented by ARA Colorado’s JustinHunt, Andy Hellman and Robert Bratley.
WOODBURN, ORE. – A 20,196-square-foot retail property in Woodburn that used to house Hershberger Motors has sold to a limited liability company for an undisclosed sum. The property is located at 777 Arney Road. The LLC plans to redevelop the property. It was represented by Will Stone of Marcus & Millichap’s Portland office.
OLYMPIA, WASH. – A 35,776-square-foot building in Olympia that is net leased to Big Lots has sold to an individual/personal trust for $3.7 million. The building is located at 2815 Capital Mall Drive SW. There is a little less than seven years remaining on the lease. The REIT seller was represented by Craig Fuller, Scott Wiles and Erin E. Patton of Marcus & Millichap’s Cleveland & Columbus offices. The buyer was represented by an agent out of the firm’s Palo Alto, Calif., office.
CORTEZ, COLO. – A 6,850-square-foot building in Cortez that is occupied by O’Reilly Auto Parts has sold to a 1031 exchange buyer for $1.7 million. The building is located at 1853 Main Street in southwestern Colorado near the Colorado-Utah-New Mexico-Arizona border. The buyer was represented by Matt Ritter, Cody Stambaugh and Peter Sengelmann of the Johnson Ritter Team at Pinnacle Real Estate Advisors. The unnamed seller was represented by Justin Brockman and JB Hochman of the Hochman Brockman Team from the same firm.
The New Mexico office market has gained more traction and absorbed a healthy level of excess inventory this year. Vacancy fell to its lowest level in more than two years. This decline can be attributed to an absorption of vacant inventory and an increase in demand for medium-sized spaces. One of those purchases was carried out by the State of New Mexico, which acquired the 60,000-square-foot Plaza Maya, a vacant building that’s no longer competing for tenants. Downtown’s vacancy also declined when a 19,500-square-foot space was taken off the market by a new company that won the contract administering mental health services for the state. Some of the most popular office spaces seem to be in the size range of 4,000 to 25,000 square feet. The state has had more than 73,000 square feet of this kind of space absorbed recently. A new charter school in the Airport submarket accounted for about one-third of this inventory, with engineering, legal and healthcare administration service companies taking up the balance. Activity for smaller spaces of less than 4,000 square feet remained consistent with 2013 levels. This strong demand has led to larger Class A spaces being master leased by national executive suite …
FONTANA, CALIF. — The Shops at Sierra Lakes, a 21,615-square-foot retail center in Fontana, has sold to Farsai Fontana LLC for $7.8 million. The center is located at 16943 & 16975 Sierra Lakes Parkway. It was built in 2009 and 2012. The Shops at Sierra Lakes is also part of Sierra Lakes Marketplace, which contains more than 880,000 square feet of retail properties, including Lowes Home Improvement, Costco, Petco, Office Max, Home Depot and LA Fitness. Farsai Fontana was represented by Scott Hook of Coldwell Banker Commercial. The seller, PRP Investors-Fontana LLC, was represented by Jeff Conover of Faris Lee Investments.
BOULDER, COLO. — Velocis Advisors has acquired an office building in Boulder’s Flatiron Business Park for an undisclosed sum. The firm purchased the building on behalf of its client, a Dallas-based family office. The 96,000-square-foot building is located at 5775 Flatiron Parkway. It is fully leased to financial service and technology-related tenants.
VERNON, CALIF. — H.C. Foods Company Ltd. has leased 47,813 square feet at a cold-storage industrial facility in Vernon. The 88,000-square-foot facility is located at 2939 S. Sunol Drive. It was built in 2005. The five-year lease is valued at $4.2 million. The Asian food products commercial distributor was represented by Phil Norton of Colliers and Jeff Hubbard of Lee & Associates. The landlord, Sunol Properties LLC, was represented by Jack Cline and Doug Cline of Lee & Associates.