PHOENIX — Hines U.S. Office Value Added Venture III has purchased 24th at Camelback I in Phoenix for an undisclosed sum. The 302,209-square-foot, Class A office tower is located in Phoenix’s Camelback Corridor submarket. The property also contains 27,209 square feet of ground-floor retail space.
Western
SAN FRANCISCO — The Swig Company has purchased an 88,668-square-foot office building in San Francisco for an undisclosed sum. The four-story property is located at 901 Battery Street. The acquisition also includes a parking structure that resides at 998 Sansome Street. The fully leased building is home to KMD Architects, Viscira, MediaOne, Fox News and New Deal Design.The seller, a partnership that had owned the property for several decades, was represented by Tony Crossley and Erik Hanson of Colliers International. Mee Mee Kiong and Peter Nelson of HSBC Bank provided the acquisition financing.
POMONA, CALIF. — A 355,162-square-foot distribution center in Pomona has sold to CMC Dragon, LP for $28.4 million. It is located at 1388 W. Holt Ave. The furniture manufacturer and importer will be relocating from nearby Fontana. The facility will serve as CMC’s West Coast distribution center. The company will occupy 80 percent of the building. The remaining space will be leased to Nina Footwear, an existing tenant at the building. CMC was represented by Brian McLoughlin and David Fults of Voit’s Greater Los Angeles office. The seller, CH Realty III, was represented by Frank Geraci, Walt Chenoweth, Juan Gutierrez and Patrick Wood ofVoit’s Inland Empire office.
ALAMEDA, CALIF. – The 615-unit Summer House Apartments in Alameda has received $19.4 million in financing. This was a supplemental Freddie Mac loan that was added to the community’s existing financing. The loan was arranged for Kennedy Wilson by Berkeley Point Capital.
LA VERNE, CALIF. – A 7.6-acre commercial development site in La Verne has sold to Hutton Development Co.for $6.1 million. It is located at 2855 Foothill Blvd., also known as the famous Route 66. The site had previously housed a succession of car dealerships, though it has remained vacant for the past year. The seller, a private investor, was represented by Mike Radlovic of Marcus & Millichap’s Ontario office.
SAN FRANCISCO — The Swig Company has purchased an 88,668-square-foot office building in San Francisco for an undisclosed sum. The four-story property is located at 901 Battery Street. The acquisition also includes a parking structure that resides at 998 Sansome Street. The fully leased building is home to KMD Architects, Viscira, MediaOne, Fox News and New Deal Design. The seller, a partnership that had owned the property for several decades, was represented by Tony Crossley and Erik Hanson of Colliers International. Mee Mee Kiong and Peter Nelson of HSBC Bank provided the acquisition financing.
POMONA, CALIF. — A 355,162-square-foot distribution center in Pomona has sold to CMC Dragon, LP for $28.4 million. It is located at 1388 W. Holt Ave. The furniture manufacturer and importer will be relocating from nearby Fontana. The facility will serve as CMC’s West Coast distribution center. The company will occupy 80 percent of the building. The remaining space will be leased to Nina Footwear, an existing tenant at the building. CMC was represented by Brian McLoughlin and David Fults of Voit’s Greater Los Angeles office. The seller, CH Realty III, was represented by Frank Geraci, Walt Chenoweth, Juan Gutierrez and Patrick Wood of Voit’s Inland Empire office.
ALAMEDA, CALIF. – The 615-unit Summer House Apartments in Alameda has received $19.4 million in financing. This was a supplemental Freddie Mac loan that was added to the community’s existing financing. The loan was arranged for Kennedy Wilson by Berkeley Point Capital.
LA VERNE, CALIF. – A 7.6-acre commercial development site in La Verne has sold to Hutton Development Co.for $6.1 million. It is located at 2855 Foothill Blvd., also known as the famous Route 66. The site had previously housed a succession of car dealerships, though it has remained vacant for the past year. The seller, a private investor, was represented by Mike Radlovic of Marcus & Millichap’s Ontario office.
SAN FRANCISCO — Wells Real Estate Investment Trust II has purchased a Class A office tower in San Francisco’s Financial District for an undisclosed sum. The 657,000-square-foot tower is located at 333 Market Street. The building is fully leased to Wells Fargo Bank. It has undergone more than $80 million in tenant and capital improvements over the past eight years. The REIT was represented in-house by Keith Willby. The seller was Korean Federation of Community Credit Cooperatives.