GARDEN GROVE, CALIF. – A 40,274-square-foot industrial building in Garden Grove has sold to ProPlas Technologies for $4.1 million. The building is located at 14321 Corporate Drive. The new owner plans to execute a major renovation at the building before it relocates from nearby Gardena. The plastic injection molding and contract manufacturing company was represented by Brandon Carrillo, Greg Gill and Dylan Espley of Lee & Associate’s Long Beach office. The seller, Serella Revocable Trust, was represented by Mike Bouma and Paul Caputo of Voit.
Western
VISALIA, CALIF. – A 57,254-square-foot shopping center in Visalia has sold to a family trust for $4 million. It is located at 3230-3298 S. Mooney Blvd. The center was 60 percent occupied by tenants like King Buffet and Tuesday Morning at the time of sale. The seller, Trion Properties, acquired a non-performing note on the asset through an all-cash transaction from a regional bank. The bank needed to remove the center from its books by the end of the year. CBRE’s Nick Whitstone handled the note sale. The latest sale was executed by Mark Denholm of CORE Commercial.
LOS ANGELES – A new commercial real estate brokerage and advisory firm, BentleyGlobal, has been launched in Century City, a submarket of Los Angeles. The new company will serve clients on a national basis and will focus on leasingand asset management. While brokeragerepresentation will be the firm’s primary service, BentleyGlobalwill also offer fee-driven portfolio and single-asset management, propertymanagement and advisory services.
DENVER – An urban infill apartment community in Denver has received $64.3 million in refinancing. The community was built in two phases. Phase I includes a 266-unit high-rise, Class A apartment community that was built in 2004. Phase II includes a 134-unit mid-rise, Class A apartment community that was built in 2012. The loans were originated under the Fannie Mae Delegated Underwriting and Servicing (DUS) program. The sponsor is a joint venture between a privately held real estate organization in Boston and a public pension fund. The loan was provided by Berkeley Point Capital LLC.
MESA, ARIZ. – An 18,928-square-foot medical office building in Mesa has sold to Campus Professional Plaza, LLC for $5.9 million. The Class B building is located at 1220 South Higley Road on the campus of Phoenix Children’s Specialty and Urgent Care East Valley Center. It was 92.7 percent leased at the time of sale. Campus was represented by Paul Christ of Newport Beach. The seller, Ensemble, LLC, was represented by Mike Coover and Thomas Weinhold of Cassidy Turley Arizona.
PHOENIX – The 205-unit Avalon Hills Condominiums in Phoenix has sold to BH Properties for $5.6 million. The community is located at 3535 West Tierra Buena Lane. BH Properties was represented by Bill Hahn of Colliers.
LOS ANGELES – A new commercial real estate brokerage and advisory firm, BentleyGlobal, has been launched in Century City, a submarket of Los Angeles. The new company will serve clients on a national basis and will focus on leasing and asset management. While brokerage representation will be the firm’s primary service, BentleyGlobal will also offer fee-driven portfolio and single-asset management, property management and advisory services.
DENVER – An urban infill apartment community in Denver has received $64.3 million in refinancing. The community was built in two phases. Phase I includes a 266-unit high-rise, Class A apartment community that was built in 2004. Phase II includes a 134-unit mid-rise, Class A apartment community that was built in 2012. The loans were originated under the Fannie Mae Delegated Underwriting and Servicing (DUS) program. The sponsor is a joint venture between a privately held real estate organization in Boston and a public pension fund. The loan was provided by Berkeley Point Capital LLC.
MESA, ARIZ. – An 18,928-square-foot medical office building in Mesa has sold to Campus Professional Plaza, LLC for $5.9 million. The Class B building is located at 1220 South Higley Road on the campus of Phoenix Children’s Specialty and Urgent Care East Valley Center. It was 92.7 percent leased at the time of sale. Campus was represented by Paul Christ of Newport Beach. The seller, Ensemble, LLC, was represented by Mike Coover and Thomas Weinhold of Cassidy Turley Arizona.
PHOENIX – The 205-unit Avalon Hills Condominiums in Phoenix has sold to BH Properties for $5.6 million. The community is located at 3535 West Tierra Buena Lane. BH Properties was represented by Bill Hahn of Colliers.