Western

HERMOSA BEACH, CALIF. – A four-parcel property in Hermosa Beach that recently sold for $19.5 million is now slated to become a 104-room luxury beachfront hotel. The property was acquired by a joint venture between Bolour Associates and Provenance Hotels. Bolour plans to serve as the hotel’s developer, while Provenance will operate the hotel. The property is located at the intersection of Pier Avenue and the Strand and features 200 linear feet of beachfront access. The parcels were formerly occupied by the Mermaid Restaurant, among other tenants. The hotel is scheduled for completion in 2016.

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REDONDO BEACH, CALIF. — Body Glove International has received a $3-million loan to renovate and convert its Redondo Beach Dive n’ Surf store into its new corporate headquarters. The company’s headquarters will occupy the second floor, while the renovated Dive n’ Surf store will remain on the ground floor. The space, which is located at 504 N. Broadway, will expand from 6,464 square feet to nearly 14,800 square feet. This expansion will allow Body Glove to consolidate its operations and recommit to the South Bay while it continues to grow its brand globally. As part of the renovations efforts, Body Glove will also make enhancements to the surrounding streets to improve accessibility and aesthetics. The project is scheduled for completion in August 2013, which will coincide with the company’s 60th anniversary. Founded in 1953 by twin brothers Bill and Bob Meistrell, Body Glove is one of the last original Southern California surf companies to remain under family ownership. Financing was arranged by Jeff Spinelli of Farmers & Merchants Bank.

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CHANDLER, ARIZ. – The 290-unit Villa Pallavicini in Chandler has sold to a company formed by Alliance Residential Co. for $37.5 million. The community is located at 635 South Ellis Street near the Price Corridor, which is known as one of the Southwest’s leading tech hubs. This corridor is home to Intel, eBay, PayPal, Orbital Sciences, Amkor Technology, Isagenix, Freescale Semiconductor, Microchip Technology and Motorola.

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SAN BERNARDINO, CALIF. – HauteLook has signed a 10-year lease to occupy the Glen Helen Distribution Center, a 604,000-square-foot building in San Bernardino. The center is located at 17335 Glen Helen Parkway. The Nordstrom-owned shopping website will be expanding and relocating from its 300,000-square-foot facility in nearby Fontana. The Glen Helen Distribution Center was developed by Alere Property Group. It will be used for HauteLook’s inventory storage, fulfillment and returns processing. HauteLook plans to occupy the distribution center this September.

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ANAHEIM, CALIF. — Ball Road Business Park in Anaheim has sold to Providence Capital Speed Fund for $9.7 million. The 114,984-square-foot park is located at 701-741 East Ball Road. Providence was represented by CBRE’s Stan Tomer. The seller, The Realty Associates Fund VI, L.P., was represented by Dan VittoneandAlan Pekarcikof Avison Young’s Irvine office.

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LOS ANGELES – A mixed-use property located in the Koreatown submarket of Los Angeles has sold to a private Seattle investor for $4.7 million. It is located at 800 S. Normandie. The property contains 44 residential units and 3,600 square feet of retail space. The retail component is leased to a single tenant that operates a small neighborhood market. Janet Neman and Bryan Glenn represented both the buyer and the seller, Executive Commercial Properties, in this transaction.

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CHANDLER, ARIZ. – The 290-unit Villa Pallavicini in Chandler has sold to a company formed by Alliance Residential Co. for $37.5 million. The community is located at 635 South Ellis Street near the Price Corridor, which is known as one of the Southwest’s leading tech hubs. This corridor is home to Intel, eBay, PayPal, Orbital Sciences, Amkor Technology, Isagenix, Freescale Semiconductor, Microchip Technology and Motorola.

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SAN BERNARDINO, CALIF. – HauteLook has signed a 10-year lease to occupy the Glen Helen Distribution Center, a 604,000-square-foot building in San Bernardino. The center is located at 17335 Glen Helen Parkway. The Nordstrom-owned shopping website will be expanding and relocating from its 300,000-square-foot facility in nearby Fontana. The Glen Helen Distribution Center was developed by Alere Property Group. It will be used for HauteLook’s inventory storage, fulfillment and returns processing. HauteLook plans to occupy the distribution center this September.

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ANAHEIM, CALIF. — Ball Road Business Park in Anaheim has sold to Providence Capital Speed Fund for $9.7 million. The 114,984-square-foot park is located at 701-741 East Ball Road. Providence was represented by CBRE’s Stan Tomer. The seller, The Realty Associates Fund VI, L.P., was represented by Dan Vittone and Alan Pekarcik of Avison Young’s Irvine office.

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LOS ANGELES – A mixed-use property located in the Koreatown submarket of Los Angeles has sold to a private Seattle investor for $4.7 million. It is located at 800 S. Normandie. The property contains 44 residential units and 3,600 square feet of retail space. The retail component is leased to a single tenant that operates a small neighborhood market. Janet Neman and Bryan Glenn represented both the buyer and the seller, Executive Commercial Properties, in this transaction.

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