MILPITAS, CALIF. — Murphy Crossing, a 361,807-square-foot office property in Silicon Valley, has sold to CBRE Strategic Partners U.S. Value 6 for an undisclosed sum. The fund is sponsored by CBRE Global Investors. The five-building, Class A property is located at 1001, 1011 and 1033 McCarthy Blvd. and 915 and 933 Murphy Ranch Road. It is situated on the border between Milpitas and North San Jose. The property is scheduled to undergo renovations and will strive for LEED certification.
Western
HONOLULU — The 406-unit Oasis at Waipahu has received a $59.2-million refinance. The community is located at 94-207 Waipahu Street in Honolulu.Waipahu was formerly home to a sugar plantation. The 18-acre complex is owned by a joint venture between The Bascom Group, LLC and Morgan Stanley Real Estate Investing. Bascom has been involved in the property’s ownership for almost 10 years. Oasis at Waipahu has undergone significant renovations as the JV upgrades both the public spaces and individual units. The loan was originated by Jason Bressler of Mesa West Capital.
LOS ANGELES — Westwood Terrace, a 150,632-square-foot office building in the Los Angeles submarket of Westwood, has sold to a joint venture between Ocean West Capital Partners and Westbrook Partners. The institutional-quality building is located at 1640 S. Sepulveda Blvd. It is currently 67 percent leased. The seller, Jamison Properties, was represented by CBRE’s Kevin Shannon, Ken White, Todd Tydlaska and Mike Moll.
MIRAGE, CALIF. — The Silver Group has arranged the sale of eight single-tenant buildings, seven of which are occupied by AmeriTitle Inc. and one that is leased by Roy's Hawaiian Fusion Cuisine. The AmeriTitle properties are located in McCall, Idaho; and Ashland, Albany, Medford, Prineville, Redmond and Salem, Ore. The 7,780-square-foot Roy's Hawaiian Fusion Cuisine is situated on about 1.6 acres in Mirage, Calif. Roy's has 19 years remaining on its lease, which is guaranteed by Roy's parent company, Bloomin' Brands Inc. Barry Silver with The Silver Group represented the sellers in the transactions. The Silver Group is also marketing for sale 22 single-tenant properties leased to AmeriTitle that are located throughout the Pacific Northwest.
MILPITAS, CALIF. — Murphy Crossing, a 361,807-square-foot office property in Silicon Valley, has sold to CBRE Strategic Partners U.S. Value 6 for an undisclosed sum. The fund is sponsored by CBRE Global Investors. The five-building, Class A property is located at 1001, 1011 and 1033 McCarthy Blvd. and 915 and 933 Murphy Ranch Road. It is situated on the border between Milpitas and North San Jose. The property is scheduled to undergo renovations and will strive for LEED certification.
HONOLULU — The 406-unit Oasis at Waipahu has received a $59.2-million refinance. The community is located at 94-207 Waipahu Street in Honolulu.Waipahu was formerly home to a sugar plantation. The 18-acre complex is owned by a joint venture between The Bascom Group, LLC and Morgan Stanley Real Estate Investing. Bascom has been involved in the property’s ownership for almost 10 years. Oasis at Waipahu has undergone significant renovations as the JV upgrades both the public spaces and individual units. The loan was originated by Jason Bressler of Mesa West Capital.
LOS ANGELES — Westwood Terrace, a 150,632-square-foot office building in the Los Angeles submarket of Westwood, has sold to a joint venture between Ocean West Capital Partners and Westbrook Partners. The institutional-quality building is located at 1640 S. Sepulveda Blvd. It is currently 67 percent leased. The seller, Jamison Properties, was represented by CBRE’s Kevin Shannon, Ken White, Todd Tydlaska and Mike Moll.
MIRAGE, CALIF. — The Silver Group has arranged the sale of eight single-tenant buildings, seven of which are occupied by AmeriTitle Inc. and one that is leased by Roy's Hawaiian Fusion Cuisine. The AmeriTitle properties are located in McCall, Idaho; and Ashland, Albany, Medford, Prineville, Redmond and Salem, Ore. The 7,780-square-foot Roy's Hawaiian Fusion Cuisine is situated on about 1.6 acres in Mirage, Calif. Roy's has 19 years remaining on its lease, which is guaranteed by Roy's parent company, Bloomin' Brands Inc. Barry Silver with The Silver Group represented the sellers in the transactions. The Silver Group is also marketing for sale 22 single-tenant properties leased to AmeriTitle that are located throughout the Pacific Northwest.
WAIMEA, HAWAII — KZ DevCo, LP has completed construction on a 23,008-square-foot Long’s Drugs in Waimea on behalf of CVS/pharmacy. The $10.3-million store was built on two land parcels totaling 2.27 acres. They are located at 65-1271 Kawaihae Road. The full-service pharmacy will replace a smaller, 1,424-square-foot Long’s Drugs that is located in an adjacent center. The store is expected to serve nearly 15,000 residents in the north Kohala upcountry coast of the Big Island. This is the ninth Long’s Drugs that KZ DevCo has completed in Hawaii in the past six years.
HEMET, CALIF. — Diamond Valley Plaza, a 58,034-square-foot shopping center in Hemet, has sold to Time Equities Inc. (TEI) for $5.8 million. The center is located on Diamond Valley Road. It is 94 percent leased to tenants like Crunch Fitness and Big Cheese Pizza. It is shadow anchored by Sprouts Farmers Market. This is TEI’s fourth shopping center purchase this year.