CARSON, CALIF. — Brentwood Originals has leased a 150,000-square-foot warehousing and distribution facility at the Prologis South Bay Distribution Center in Carson. The six-year lease is valued at more than $5.6 million. The space is located at 20642 S. Fordyce Ave. The home lifestyle importer, manufacturer and retail distributor was represented by Steve Calhoun and Dave Drummond of Colliers’ South Bay office. Prologis was represented by CBRE.
Western
WHEAT RIDGE, COLO. – A 6,512-square-foot, dual-tenant shopping center in Wheat Ridge has sold to a private investment group from Illinois for $2.7 million. The center is located off I-70. It is fully occupied by Starbucks and Pet Club. The buyer was represented by Chad Firsel of Quantum Real Estate Advisors. The seller was a Denver development company.
NORWALK, CALIF. – The 192-unit Avalon at Civic Center in Norwalk has sold to Sares-Regis Multifamily Fund, L.P. for an undisclosed sum. The community is located at 12700 Bloomfield Ave. Sares-Regis plans to upgrade and rebrand the property as Solterra at Civic Center. The seller, Avalon Bay, was represented by HFF’s Mark Peterson and Sean Deasy.
CARSON, CALIF. — Brentwood Originals has leased a 150,000-square-foot warehousing and distribution facility at the Prologis South Bay Distribution Center in Carson. The six-year lease is valued at more than $5.6 million. The space is located at 20642 S. Fordyce Ave. The home lifestyle importer, manufacturer and retail distributor was represented by Steve Calhoun and Dave Drummond of Colliers’ South Bay office. Prologis was represented by CBRE.
WHEAT RIDGE, COLO. – A 6,512-square-foot, dual-tenant shopping center in Wheat Ridge has sold to a private investment group from Illinois for $2.7 million. The center is located off I-70. It is fully occupied by Starbucks and Pet Club. The buyer was represented by Chad Firsel of Quantum Real Estate Advisors. The seller was a Denver development company.
SAN FRANCISCO – The 338-room Ritz-Carlton San Francisco has sold to Thayer Fund VI for an undisclosed sum. The hotel is located at 600 Stockton Street. Thayer plans to invest up to $17 million into the property within its first 24 months of ownership. The fund worked on behalf of Thayer Lodging Group. This was the fund’s first investment. It is targeted as a $300-million fund. Thayer also owns the nearby J.W. Marriott San Francisco.
MANTECA, CALIF. — Stadium Center Shopping Center, a 421,126-square-foot community shopping center in Manteca, has sold to Excel Trust for $41.1 million. The center is located at the northwest quadrant of State Route 120 and Airport Way just southeast of Stockton. It is currently 96.3 percent leased. Notable tenants include Costco, Kohl’s, Ross Dress for Less, OfficeMax, Old Navy and Jo-Ann Fabrics. Costco and Kohl’s, which occupy about 154,000 square feet and 88,800 square feet, respectively, were not part of the sale. The acquisition did include four graded land parcels that are entitled for an additional 17,600 square feet of leasable space. Lucescu Realty represented the seller, Kitchell Development Company, and secured the buyer in this transaction.
GOODYEAR, ARIZ. – A 14,820-square-foot building in Goodyear that is net leased to Walgreens has sold to an individual/personal trust for $9 million. The property is located at 9800 South Estrella Parkway. It is the first Walgreens store in Arizona to feature the new Wellness Experience prototype. It is the second Walgreens in the country to receive LEED certification. The buyer was represented by Kirk Trammell of Marcus & Millichap’s Palo Alto office. The seller, a limited liability company, was represented by Mark Ruble and Jamie Medress of the firm’s Phoenix office.
SAN FRANCISCO – The 338-room Ritz-Carlton San Francisco has sold to Thayer Fund VI for an undisclosed sum. The hotel is located at 600 Stockton Street. Thayer plans to invest up to $17 million into the property within its first 24 months of ownership. The fund worked on behalf of Thayer Lodging Group. This was the fund’s first investment. It is targeted as a $300-million fund. Thayer also owns the nearby J.W. Marriott San Francisco.
MANTECA, CALIF. — Stadium Center Shopping Center, a 421,126-square-foot community shopping center in Manteca, has sold to Excel Trust for $41.1 million. The center is located at the northwest quadrant of State Route 120 and Airport Way just southeast of Stockton. It is currently 96.3 percent leased. Notable tenants include Costco, Kohl’s, Ross Dress for Less, OfficeMax, Old Navy and Jo-Ann Fabrics. Costco and Kohl’s, which occupy about 154,000 square feet and 88,800 square feet, respectively, were not part of the sale. The acquisition did include four graded land parcels that are entitled for an additional 17,600 square feet of leasable space. Lucescu Realty represented the seller, Kitchell Development Company, and secured the buyer in this transaction.