SANTA MONICA, CALIF. — Science, Inc., has signed a 45-month lease for 16,220 square feet of space in Santa Monica. The 24,578-square-foot building is located at 1447 2nd Street. The building is now fully occupied. The technology incubator and investor is relocating and expanding from its 10,000-square-foot office that’s just steps away at 1410 2nd Street. The new space was previously occupied by Hydraulx. Science, Inc., was represented by Randy Starr and Tim Dornan of Avison Young. The landlord, Beitler Commercial Realty Services, represented itself in this transaction.
Western
NAPA, CALIF. – Auberge Resorts and its partners have acquired the 50-room Calistoga Ranch in Napa Valley for a reported $55 million. The ultra-luxury resort is situated on 157 acres at 580 Lommel Road in an Upper Napa Valley canyon. The transaction represents the highest price per room of any hotel sold this year, according to Jones Lang LaSalle. Olympus Real Estate Partners developed Calistoga Ranch 10 years ago. It had previously sold the hotel’s 22 residential units. Auberge has managed the hotel since it opened in 2004. The resort sale was handled by John Straussof Jones Lang LaSalle’s Hotels & Hospitality Group. Strauss represented Olympus in that transaction.
DENVER — The Ritz-Carlton, Denver, a 202-room hotel in the city’s Downtown region, has received $51 million in financing. The luxury resort is located at 1881 Curtis Street in the Financial District. The hotel occupies the initial 14 floors of the 37-story tower. It is the only AAA Five Diamond-rated hotel in the city. The Apartments at Denver Place and the Residence XXV condominiums occupy the remaining levels and were not part of this transaction. The three-year, floating-rate loan will be used to refinance an existing loan facility. It was arranged by HFF’s Eric Tupler, John Bourret, Josh Simon and Matt Gangaware on behalf of Pearlmark Real Estate Partners. Financing was secured through a joint origination effort by Annaly Commercial Real Estate Group and Principal Real Estate Investors.The hotel will continue to be managed by The Ritz-Carlton Hotel Company, L.L.C.
SAN DIEGO — Drawbridge Realty Trust has acquired the Discovery Corporate Center Building A in San Diego for $36.5 million. It is located at 16340 West Bernardo Drive in the Rancho Bernardo submarket. The 90,610-square-foot, Class A building is fully leased to Broadcom Corporation. Drawbridge now owns three of the four buildings that comprise the 318,235-square-foot Discovery campus. The company is focused on acquiring well-located properties leased to major corporations in markets with positive absorption and job growth. The seller was Menlo Equities.
NAPA, CALIF. – Auberge Resorts and its partners have acquired the 50-room Calistoga Ranch in Napa Valley for a reported $55 million. The ultra-luxury resort is situated on 157 acres at 580 Lommel Road in an Upper Napa Valley canyon. The transaction represents the highest price per room of any hotel sold this year, according to Jones Lang LaSalle. Olympus Real Estate Partners developed Calistoga Ranch 10 years ago. It had previously sold the hotel’s 22 residential units. Auberge has managed the hotel since it opened in 2004. The resort sale was handled by John Straussof Jones Lang LaSalle’s Hotels & Hospitality Group. Strauss represented Olympus in that transaction.
DENVER — The Ritz-Carlton, Denver, a 202-room hotel in the city’s Downtown region, has received $51 million in financing. The luxury resort is located at 1881 Curtis Street in the Financial District. The hotel occupies the initial 14 floors of the 37-story tower. It is the only AAA Five Diamond-rated hotel in the city. The Apartments at Denver Place and the Residence XXV condominiums occupy the remaining levels and were not part of this transaction. The three-year, floating-rate loan will be used to refinance an existing loan facility. It was arranged by HFF’s Eric Tupler, John Bourret, Josh Simon and Matt Gangaware on behalf of Pearlmark Real Estate Partners. Financing was secured through a joint origination effort by Annaly Commercial Real Estate Group and Principal Real Estate Investors. The hotel will continue to be managed by The Ritz-Carlton Hotel Company, L.L.C.
SAN DIEGO — Drawbridge Realty Trust has acquired the Discovery Corporate Center Building A in San Diego for $36.5 million. It is located at 16340 West Bernardo Drive in the Rancho Bernardo submarket. The 90,610-square-foot, Class A building is fully leased to Broadcom Corporation. Drawbridge now owns three of the four buildings that comprise the 318,235-square-foot Discovery campus. The company is focused on acquiring well-located properties leased to major corporations in markets with positive absorption and job growth. The seller was Menlo Equities.
PHOENIX — Mountain Vista Commerce Center in Phoenix has sold to Aspen Capital Partners for $11.3 million. The three-building, 134,713-square-foot industrial complex is located at 14647 S. 50th Street. It was built in 1999 and was 93 percent leased at the time of sale. Dan Calihan, Pat Feeney, Joe Porter and Rusty Kennedy of CBRE’s Phoenix office represented both the buyer and the seller, BSP Mountain Vista LLC, in this transaction.
PEORIA, ARIZ. — The 100-unit Sonoma Place in Peoria has sold to Investment Property Exchange Services for $6.5 million. The community is located at 11600 N. 75th Ave. in Greater Phoenix. It was built in 1985. Bill Hahn, Jeffrey Sherman and Trevor Koskovich of Colliers’ HSK Multifamily team represented both the buyer and the seller, Mentor Properties, in this transaction.
COTTAGE GROVE, ORE. – A Walgreens in Cottage Grove has received a $4.1-million loan. The Walgreens is located at 1704 E. Main Street, south of Eugene. The fixed-rate, non-recourse loan carries a 10-year term and a 30-year amortization schedule. It was secured by Cathy Bronkema of Cohen Financial through a national bank. The transaction was part of a 1031 exchange.