SCOTTSDALE, ARIZ. — Buchanan Street Partnershas purchased a Perimeter Center building in Scottsdale for an undisclosed sum. The 66,800-square-foot office/flex building is located within the master-planned Perimeter Center at 8388 E. Hartford Drive. It was mostly vacant at the time of sale.
Western
ROSEVILLE, CALIF. — Ellis Partners LLC has acquired a nine-building office portfolio in Roseville for an undisclosed sum. The portfolio contains a total of 670,000 square feet along the region’s Douglas Boulevard. The buildings are located in the Summit at Douglas Ridge, Olympus Corporate Centre, Johnson Ranch Corporate Center and Roseville Corporate Center. Chris Lemmon, Todd Eschelman and Zac Collie of Cornish & Carey Newmark Knight Frank will serve as the portfolio’s exclusive leasing agents. The seller was Hines U.S. Core Office Fund. Hines will handle the portfolio’s property management.
LOS ANGELES — Kilroy Realty Corporation has completed its disposition of the firm’s entire industrial portfolio and two small office projects. In total, Kilroy shed 3.7 million square feet as part of its capital recycling strategy. All of the assets were located in California, with the majority residing in the Orange Countyregions of Anaheim, Brea, Costa Mesa, Garden Grove, Santa Ana, Tustin and Irvine. The dispositionnetted about $355 million. The firm plans to use these funds to expand its West Coast office development program. The 44 properties were sold in two tranches to two institutional buyers, TIAA-CREF and LBA REIT. The buyers were represented by David Phelps of Paul Hasting's Los Angeles office, and Andrew Shiner and Tim Farahnik of Seyfarth Shaw's Los Angeles office, respectively. Kilroy was advised by Allen Matkins’ Tony Natsis, Peter Roth, Crystal Lofing and Elizabeth Wilgenburg.
TRUCKEE, CALIF. — Kennedy Wilson has purchased The Ritz-Carlton, Lake Tahoe, a 170-room luxury resort in Truckee. The purchase price was not disclosed. The resort is located mid-mountain at Northstar California. The acquisition included 23 unsold condominium units and a neighboring 3.4-acre development site. The resort also features a 17,000-square-foot Ritz-Carlton Spa, 15,000 square feet of indoor meeting space, two heated outdoor pools, a fitness center and a business center, in addition to three restaurants. The seller, Truckee Highlands Syndicated Holdings, LLC, was represented by HFF’s Dan Peek, Holden Lim, Michael Leggett, Gerry Rohm, Max Comess and Cyrus Vazifdar.
SCOTTSDALE, ARIZ. — Buchanan Street Partners has purchased a Perimeter Center building in Scottsdale for an undisclosed sum. The 66,800-square-foot office/flex building is located within the master-planned Perimeter Center at 8388 E. Hartford Drive. It was mostly vacant at the time of sale.
ROSEVILLE, CALIF. — Ellis Partners LLC has acquired a nine-building office portfolio in Roseville for an undisclosed sum. The portfolio contains a total of 670,000 square feet along the region’s Douglas Boulevard. The buildings are located in the Summit at Douglas Ridge, Olympus Corporate Centre, Johnson Ranch Corporate Center and Roseville Corporate Center. Chris Lemmon, Todd Eschelman and Zac Collie of Cornish & Carey Newmark Knight Frank will serve as the portfolio’s exclusive leasing agents. The seller was Hines U.S. Core Office Fund. Hines will handle the portfolio’s property management.
LOS ANGELES – A 46,213-square-foot office building in the Los Angeles submarket of Brentwood has sold to WLA Wilshire, LLC for $15.5 million. It is located at 11859 Wilshire Blvd. WLA was represented by Andrew Jennison of Industry Partners. The seller, 11859 Wilshire, LLC, was represented by Roger Beck and Gelena Skya-Wasserman of Charles Dunn Company. The seller had previously occupied the building as PCS, a communications company that has since moved to Texas.
SCOTTSDALE, ARIZ. – A 66,240-square-foot office/flex building in Scottsdale has sold to Helio Real Estate for $4.3 million. It is located at 8388 E. Hartford Drive. Helio was represented in-house by Adrian Evarkiou. The seller, H-B Perimeter, LLC, was represented by Jeff Adams, Mike Myrick and Alexandra Loye of NAI Horizon.
WEST COVINA, CALIF. – The 65-unit West Covina Senior Villas has received a $3.2-million refinance loan. The loan on this newly built property features a 5 percent fixed interest rate, a 30-year term and a30-year amortization schedule. The funds were arranged by Dale Holzer of Alliant Capital LLC.
RIVERSIDE, CALIF. – A 39,900-square-foot distribution center in Riverside has sold to Dmitriy Burkovskiy, owner of Mile Transport, for $3.2 million. The center is located at 1075 Mt. Vernon Ave. Burkovskiy was represented by John Seoane of Lee & Associates Ontario. The seller, Cornerstone Realty Advisors, was represented by Voit Real Estate Services.