HONOLULU — Hawaii is set to receive two new Long’s Drugs stores this year. The first Long’s will be a 20,114-square-foot store situated on 1.57 acres at King and Young streets in Honolulu. Construction should be complete in May. The store is scheduled to open in June. The second will be a 23,008-square-foot Long’s Drugs situated on 3.61 acres at Kuhio Highway and Aleka Loop in Kapa’a, Kaui. This store is projected to open in the fourth quarter of this year. Though CVS/pharmacy acquired Long’s Drugs in 2008, the two stores will retain the Long’s name due to its high brand awareness on the islands. The two stores are being developed by KZ DevCo, L.P.
Western
WESTMINSTER, CALIF. — Harley Davidson has leased three industrial buildings in the Orange County submarket of Westminster. They are located at 15044, 15051, and 15080 Goldenwest Circle. The new space, which totals 41,939 square feet, will serve as the new Harley Davidson showroom. The ten-year lease was valued at $3.7 million. The lease transaction was executed by Mike Bouma and Paul Caputo of Voit Real Estate Services’ Anaheim office.
SAN DIEGO – The new $133-million Health Sciences Biomedical Research Facility has premiered at the University of California, San Diego (UCSD). The 196,000-square-foot facility is located on a 3.3-acre site within the UCSD Health Sciences campus in the San Diego submarket of La Jolla. The new facility will accommodate new and expanded multi-departmental programs, including bioinformatics, genomic medicine, gastrointestinal medicine, childhood diseases, pathology, immunology, inflammation, psychiatry, cardiology, neurosciences, infectious diseases and glycobiology. The building is expected to achieve LEED-Platinum certification. It contains a computer-controlled exterior solar shading system on the facility’s east, west and south facades. It also includes radiant heating systems, operable windows and individual thermostats, among other eco-friendly features. This facility is part of UCSD’s ongoing campus expansion. It was built by McCarthy Building Companies and designed by ZGF Architects.
LONG BEACH, CALIF. — KZ DevCo, L.P., has completed construction on two CVS/pharmacies in Long Beach. The first is a 17,043-square-foot store situated on 1.2 acres at Pacific Coast Highway and 2nd Street. The second is a 14,576-square-foot outpost situated on 1.5 acres at Pacific Coast Highway and Los Coyotes Diagonal.
TACOMA, WASH. – The 319-room Hotel Murano in Tacoma has received $24.6 million in first-mortgage financing. The hotel is situated at 1320 Broadway, adjacent to the Greater Tacoma Convention and Trade Centerin the city’s Central Business District. It is one of only four hotels in the state to earn the Forbes 4-Star Award. The 10-year, fixed-rate, non-recourse loan was arranged by Sonnenblick-Eichner Company. It was provided by a Wall Street investment bank.
PHOENIX – The first phase of Airport I-10, a three-building industrial park that will total more than 600,000 square feet, has broken ground in Phoenix’s Sky Harbor Airport area. The Class A park will be located at the northwest corner of 24th Street and Rio Salado. Phase I is scheduled for completion this fall. Airport 1-10 will eventually contain five industrial buildings that total 920,584 square feet. Once complete, it will be one of the largest Sky Harbor Airport-area speculative industrial developments in Phoenix. The development is a joint venture between Wentworth Property Companyand Clarion Partners. JLL’s Pat Harlan, Steve Sayre, Kyle Westfall and Mark Detmer will serve as the park’s exclusive leasing agents.
DRAPER, UTAH — Lone Peak Center, an 87,672-square-foot office building in Draper, has received $14.5 million in refinancing. The center is located at 11747 Lone Peak Parkway, just 20 miles south of Salt Lake City. The proceeds were used to pay off existing senior debt, among other uses. Lone Peak was built in 2007. It is currently 99 percent leased. The building serves as one of nine global customer service support centers for EMC Corporation, the world’s largest provider of data storage systems. It is also the corporate headquarters for O’Currance, a direct response telesales service provider. The center’s original developer, DBSI Group of Companies, experienced bankruptcy liquidation in 2010. The sponsor, a San Francisco-based real estate investment and asset management firm, purchased the REO property from M&I Bank, which is now BMO Harris. Financing was provided by Thorofare Capital.
DENVER – The 141-unit Mint Urban Hilltop apartment complex in Denver has sold to Hilltop Residential, LLC, for $17.3 million. The newly renovated community is located at 805 and 825 Dahlia Street, and 820 and 880-890 Dexter Street. The five buildings were constructed between 1957 and 1967. They total 103,696 square feet. The Calame Lewallen Team at Pinnacle Real Estate Advisors represented both the buyer and seller, Cardinal Group Moana LLC, in this transaction.
BEAVERTON, ORE. – The 207-unit Quatama Village in Beaverton has received $11.9 million in refinancing. The community is located at 380 NW Gina Way. The loan features a 10-year term and 30-year amortization schedule. It was arranged by Bob Spiro of NorthMarq Capital’s Seattle office through the firm’s seller/servicer relationship with Freddie Mac. The borrower was not named.
EL CAJON, CALIF. — Master Halco has leased a 21,925-square-foot industrial property in El Cajon. The space is located at 485 North Raleigh Ave. The wholesale distributor and manufacturer of perimeter security and fencing was represented by Rusty Williams and Chris Roth of Lee & Associates – North San Diego County’s office in Carlsbad.