SCOTTSDALE, ARIZ. — Mesquite Corporate Center, a 79,537-square-foot office building in Scottsdale, has sold to Waittcorp Real Estate, LLC, for $15.2 million. The Class A building is located at 14646 North Kierland Blvd. The center overlooks a nine-hole golf course that is part of the Kierland Golf Club, which is attached to the Westin Kierland Resort & Spa. Mesquite was 96 percent occupied at the time of sale. The seller, DPC Development Company, an entity of DPC Development Company, was represented by CBRE’s Barry Gabel, Chris Marchildon and Mindy Korth. Waittcorp represented itself in this transaction.
Western
CHEHALIS, WASH. — The 60-unit Chehalis Avenue apartments has sold to Chehalis Avenue Apartments 2, LLC for $2 million. The HUD community is located at 366 SW Third Street in Chehalis. It was built in 1969. The transaction was executed by Robert DiPietrae of Hendricks-Berkadia’s Seattle office. The seller was Chehalis Avenue Company, LP.
SEATTLE — The Central Building, a 191,784-square-foot office building in Seattle, has sold to KBS Strategic Opportunity REIT for $34.5 million. The Class B+ building is located at 810 3rd Ave. in the city’s Central Business District. It was originally built in 1907 and received its historic landmark designation in 2008 after a five-year renovation period.KBS Strategic Opportunity REIT also owns the nearby 326,384-square-foot Bellevue Technology Center. The REIT is sponsored indirectly by Charles J. Schreiber,Jr., Peter Bren, Keith Hall and Peter McMillan III.It is advised by KBS Capital Advisors LLC, an affiliated entity that is indirectly owned and controlled by KBS Strategic Opportunity REIT’s sponsors.
SALINAS, CALIF. — Boronda Plaza, a 93,796-square-foot, grocery-anchored retail center in Salinas, has sold to Phillips Edison-ARC Shopping Center REIT Inc. for an undisclosed sum. The center is located at 1576 North Sanborn Road. It was built in 2002 and boasts a 95 percent occupancy. Boronda is anchored by a 59,412-square-foot Food 4 Less. The seller, Donahue Schriber, was represented by HFF’s Nicholas Bicardo, Mark Damiani and Bryan Ley.
SAN DIEGO — West Park, a 612-unit apartment community, has broken ground in San Diego’s Mission Valley submarket. The midrise community will be located near the intersection of Friars Road and Mission Center Road in the new community of Civita. The first phase is scheduled to be completed for summer 2014 move-ins.It will be built by Coyle Residential and Reno Contracting and designed by Newman Garrison Partners. HFF provided construction and permanent financing. The developer, Sudberry Properties, was represented by HFF’s Aldon Cole, Zach Holderman and Christopher Liu.
SEATTLE — The Central Building, a 191,784-square-foot office building in Seattle, has sold to KBS Strategic Opportunity REIT for $34.5 million. The Class B+ building is located at 810 3rd Ave. in the city’s Central Business District. It was originally built in 1907 and received its historic landmark designation in 2008 after a five-year renovation period. KBS Strategic Opportunity REIT also owns the nearby 326,384-square-foot Bellevue Technology Center. The REIT is sponsored indirectly by Charles J. Schreiber, Jr., Peter Bren, Keith Hall and Peter McMillan III. It is advised by KBS Capital Advisors LLC, an affiliated entity that is indirectly owned and controlled by KBS Strategic Opportunity REIT’s sponsors.
SALINAS, CALIF. — Boronda Plaza, a 93,796-square-foot, grocery-anchored retail center in Salinas, has sold to Phillips Edison-ARC Shopping Center REIT Inc. for an undisclosed sum. The center is located at 1576 North Sanborn Road. It was built in 2002 and boasts a 95 percent occupancy. Boronda is anchored by a 59,412-square-foot Food 4 Less. The seller, Donahue Schriber, was represented by HFF’s Nicholas Bicardo, Mark Damiani and Bryan Ley.
SAN DIEGO — West Park, a 612-unit apartment community, has broken ground in San Diego’s Mission Valley submarket. The midrise community will be located near the intersection of Friars Road and Mission Center Road in the new community of Civita. The first phase is scheduled to be completed for summer 2014 move-ins. It will be built by Coyle Residential and Reno Contracting and designed by Newman Garrison Partners. HFF provided construction and permanent financing. The developer, Sudberry Properties, was represented by HFF’s Aldon Cole, Zach Holderman and Christopher Liu.
GOLETA, CALIF. – The 63-unit New Tahitian Apartments in Goleta has received $9.3 million in acquisition financing. The student housing community is located at 6739 El Colegio Road near the University of California, Santa Barbara (UCSB). The loan features a 30-year term and a 30-year amortization schedule with a five-year fixed interest rate. Financing was arranged by Michael Elmore of NorthMarq Capital’s Los Angeles regional office through the firm’s relationship with a national bank.
ANAHEIM, CALIF. – The 24-unit La Palma Apartments in Anaheim has sold to Safe Harbor Exchange for $4.9 million. The community is located at 2018-2114 East La Palma Ave. It was built in 1963. The transaction was executed by Peter M. Hauser and Steven C. Brombal of Hendricks-Berkadia’s Newport Beach office. The seller was Equity Holdings, LLC.