SEATTLE – Thomas Company has opened a new office in Seattle. It has also hired net lease expert Adam Christoffersen to oversee the region. Christoffersen was previously with Gibraltar, LLC and CBRE. Thomas Company, which specializes in the single-tenant, net leased assets, was originally founded in Newport Beach, Calif.
Western
SAN DIEGO — Lockheed Martin Corporation has renewed its lease for 111,972 square feet at Horizon Tech Center in San Diego. The 157,884-square-foot tech center is located just east of Scripps Ranch Road and 0.5 miles east of I-15 in the Scripps Ranch submarket. The center is owned by KBS Real Estate Investment Trust II.
SAN DIEGO – A 28-unit apartment building in San Diego has sold to Gordon Reese and John Reinhardt of Imperial Group Partners for $2.6 million. The community is located at 5460-5468 Imperial Ave. The seller, Michael Contreras, initially purchased the asset as a foreclosed REO property. Aaron Bove of Marcus & Millichap’s San Diego office represented both the buyer and the seller in this transaction.
SEATTLE – Thomas Company has opened a new office in Seattle. It has also hired net lease expert Adam Christoffersen to oversee the region. Christoffersen was previously with Gibraltar, LLC and CBRE. Thomas Company, which specializes in the single-tenant, net leased assets, was originally founded in Newport Beach, Calif.
SAN DIEGO — Lockheed Martin Corporation has renewed its lease for 111,972 square feet at Horizon Tech Center in San Diego. The 157,884-square-foot tech center is located just east of Scripps Ranch Road and 0.5 miles east of I-15 in the Scripps Ranch submarket. The center is owned by KBS Real Estate Investment Trust II.
LOS ANGELES – Grandbridge has provided $26.5 million in first-mortgage financing to a pair of Los Angeles area apartment buildings. They include a 205-unit community in Canoga Park and a 128-unit complex in Simi Valley. The former property received $14.2 million, while the latter received $12.2 million. Both non-recourse loans were provided by Lincoln National Life Insurance Company. They contain 15-year terms and 30-year amortization schedules with interest-only features. Financing was originated by Shelley Magoffin and Perry Colligan of Grandbridge. They worked on behalf of a West Los Angeles investor.
GARDEN GROVE, CALIF. – An affiliate of CT Realty Investorshas acquired a 210,000-square-foot industrial building in Garden Grove for $26 million. The facility is located at 12131 Western Ave. within the master-planned Garden Grove Business Center. It is fully leased to direct marketing company Money Mailer LLC. This is CT’s ninth industrial acquisition this year. The company represented itself in this transaction, while the unnamed seller was represented by Michael Hartel and Mike Bouma of Voit’s Irvine office.
LOS ANGELES – A 32-unit apartment building in Venice has sold to Mastraili, LLC for $3.5 million. The community is located at 1210 Venice Blvd. in the Los Angeles submarket. It was built in 1988. Michel Hibbert and Dan Johnson of Charles Dunn Company represented both the buyer and the seller, Coastal Property, in this transaction.
LOS ANGELES – Grandbridge has provided $26.5 million in first-mortgage financing to a pair of Los Angeles area apartment buildings. They include a 205-unit community in Canoga Park and a 128-unit complex in Simi Valley. The former property received $14.2 million, while the latter received $12.2 million. Both non-recourse loans were provided by Lincoln National Life Insurance Company. They contain 15-year terms and 30-year amortization schedules with interest-only features. Financing was originated by Shelley Magoffin and Perry Colligan of Grandbridge. They worked on behalf of a West Los Angeles investor.
GARDEN GROVE, CALIF. – An affiliate of CT Realty Investorshas acquired a 210,000-square-foot industrial building in Garden Grove for $26 million. The facility is located at 12131 Western Ave. within the master-planned Garden Grove Business Center. It is fully leased to direct marketing company Money Mailer LLC. This is CT’s ninth industrial acquisition this year. The company represented itself in this transaction, while the unnamed seller was represented by Michael Hartel and Mike Bouma of Voit’s Irvine office.