HOLLYWOOD, CALIF. — Todd-Soundelux, LLC has signed a 12-year lease renewal for a 40,315-square-foot office space in Hollywood. The property is located at 900 Seward Street in the city’s production corridor. The post-production sound company’s Todd AO Studios operates out of the facility. The company was represented by Arlene Sommer and Mark Robinson of Cushman & Wakefield. The landlord, Vista Investment Group, was represented by John Tronson and Steven Tronson of Avison Young.
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LOS ANGELES – A nine-unit apartment building in West Los Angeles has sold to Tai On Investments, LLC for $3 million. The community is located at 11235 Richland Ave. It was built in 1987. Michel Hibbert of Charles Dunn Company represented both the buyer and the seller, KWP Investments, in this transaction.
SUNNYVALE, CALIF. — Lane Partners has acquired a 508,946-square-foot office portfolio in Sunnyvale for a reported $127 million. The 16-building office and R&D portfolio is primarily located in the Peery Park submarket. It was 94 percent leased at the time of sale. One-third of the portfolio was leased to Apple.The seller, a global investment manager, was represented by CBRE’s Joseph Moriarty, Russell Ingrum, Sean Sullivan, Tyler Meyerdirk and Brad Zampa.
LOS ANGELES – The 39-acre site of the future Pacific Business Center, an industrial development in the Los Angeles submarket of Bell, has received $73.8 million in financing. The funds will be used to acquire and develop the project. The site was acquired by Pacific Industrial for more than $44 million. It will be located at 5600 Rickenbacker next to the 710 Freeway. The land was the former World War II Cheli Air Force Base GSA site. It was entitled for 840,390 square feet of development. Pacific Industrial plans to develop a three-building, Class A industrial campus totaling about 550,000 square feet in the first phase of development. Construction will commence immediately and is scheduled for completion next October. The seller, the City of Bell, was represented by CBRE’s John Privett and Cameron Merrill. The non-recourse loan was arranged by HFF’s Brian Torp and Don Curtis through a global investment firm.
MOUNTAIN VIEW, CALIF. – Mountain Bay Plaza, a 165,390-square-foot office tower in downtown Mountain View, has received $55 million in refinancing. The Class A tower is located at 444 Castro in Silicon Valley. It was 97 percent leased to tenants like Fenwick & West, Red Hat, PricewaterhouseCoopers and Bank of America. The fixed-rate loan was arranged by HFF’sBruce Ganong and Walter Chui on behalf of The Swig Company. The loan was placed with John Hancock Real Estate.
SUNNYVALE, CALIF. — Lane Partners has acquired a 508,946-square-foot office portfolio in Sunnyvale for a reported $127 million. The 16-building office and R&D portfolio is primarily located in the Peery Park submarket. It was 94 percent leased at the time of sale. One-third of the portfolio was leased to Apple. The seller, a global investment manager, was represented by CBRE’s Joseph Moriarty, Russell Ingrum, Sean Sullivan, Tyler Meyerdirk and Brad Zampa.
LOS ANGELES – The 39-acre site of the future Pacific Business Center, an industrial development in the Los Angeles submarket of Bell, has received $73.8 million in financing. The funds will be used to acquire and develop the project. The site was acquired by Pacific Industrial for more than $44 million. It will be located at 5600 Rickenbacker next to the 710 Freeway. The land was the former World War II Cheli Air Force Base GSA site. It was entitled for 840,390 square feet of development. Pacific Industrial plans to develop a three-building, Class A industrial campus totaling about 550,000 square feet in the first phase of development. Construction will commence immediately and is scheduled for completion next October. The seller, the City of Bell, was represented by CBRE’s John Privett and Cameron Merrill. The non-recourse loan was arranged by HFF’s Brian Torp and Don Curtis through a global investment firm.
MOUNTAIN VIEW, CALIF. – Mountain Bay Plaza, a 165,390-square-foot office tower in downtown Mountain View, has received $55 million in refinancing. The Class A tower is located at 444 Castro in Silicon Valley. It was 97 percent leased to tenants like Fenwick & West, Red Hat, PricewaterhouseCoopers and Bank of America. The fixed-rate loan was arranged by HFF’s Bruce Ganong and Walter Chui on behalf of The Swig Company. The loan was placed with John Hancock Real Estate.
PHOENIX — Country Club Manor, an 89,214-square-foot office property in Phoenix, has sold to Hyperion Fund for $8.5 million. The Class A property is located at 1221 and 1313 E. Osborn Road near the Phoenix Country Club. It was about 68 percent leased at the time of the REO sale. Eric Wichterman and Mike Coover of Cassidy Turley’s Capital Markets Group represented both the buyer and seller, Aetna Health Insurance, Co., in this transaction.
SALT LAKE CITY – The former 288-room Hilton Salt Lake City Airport has received a $5.3-million renovation and rebranding. It is now the DoubleTree by Hilton Hotel Salt Lake City Airport. The hotel was acquired by Laurus Corporation in July 2012. It is located at 5151 Wiley Post Way.