LOS ANGELES – A 14,655-square-foot office building in Los Angeles has sold to Park View Dream LLC for $2 million. It is located at 2351 West 3rd Street. The buyer plans to relocate its real estate investment and management business to the building. It will lease out the remaining space. The seller, Building Industry Credit Association, was represented by David Fults and Brian McLoughlin of Voit Real Estate Services’ Los Angeles office.
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REDMOND, WASH. – Redmond Town Center, a 695,000-square-foot, mixed-use urban shopping center, has sold to a fund managed by DRA Advisors LLC and JSH Properties for an undisclosed sum. It is located at 7525 166th Ave NE in Redmond. The open-air center is set to undergo a series of upgrades to make it more pedestrian-friendly. Notable tenants at the center include Ann Taylor, REI, Bed Bath & Beyond, Macy’s, Chico’s, The Gap, The MAC Store, Victoria Secret and Cost Plus World Market. Charming Charlies, 24 Hour Fitness and Jersey Mikes are set to open at the center this fall.
LOS ANGELES — Whole Foods Market has announced plans to open a 42,000-square-foot flagship location on the ground floor of a new 700-unit apartment complex in Downtown Los Angeles. The complex will be located at 770 S. Grand Ave. It is being developed by Carmel Partners (Carmel Partners Investment Fund IV) and is expected to open in 2015.
LOS ANGELES – A 14,655-square-foot office building in Los Angeles has sold to Park View Dream LLC for $2 million. It is located at 2351 West 3rd Street. The buyer plans to relocate its real estate investment and management business to the building. It will lease out the remaining space. The seller, Building Industry Credit Association, was represented by David Fults and Brian McLoughlin of Voit Real Estate Services’ Los Angeles office.
FOUNTAIN VALLEY, CALIF. — MemorialCare Health System has agreed to buy Fountain Valley City Center, a 300,000-square-foot health system property, for an undisclosed sum. The site is located near Brookhurst and the 405 Freeway in Fountain Valley.The center is already home to MemorialCare Health System and its shared services, which fully occupy one of the three modular buildings on the property.MemorialCare is also in the process of acquiring an adjacent property for additional parking. MemorialCare was represented by Tim Helgeson of Newmark Grubb Knight Frank in this transaction.
SACRAMENTO, CALIF. – A 170,000-square-foot office building in downtown Sacramento has sold to an institutional investor for $29.4 million. The acquisition was made as an investment through a separate account managed by CenterSquare Investment Management, the real estate manager for BNY Mellon. The Class A building is located at 770 L Street. The seller was 770 L Street Investment Group Inc.
SALT LAKE CITY — South Temple Tower, a 216,976-square-foot, high-rise tower in Salt Lake City, has sold to Maier Siebel Baber (MSB) for an undisclosed sum. The tower is located at 136 East South Temple in the city’s Central Business District. MSB plans to retrofit, renovate and refurbish the office building. These improvements will be carried out by Architecture Design. The seller was represented by Craig Thomas, Eric Gustafson and Eric Smith of CBRE’s Salt Lake City office. CBRE will continue to manage and lease the asset.
FOUNTAIN VALLEY, CALIF. — MemorialCare Health System has agreed to buy Fountain Valley City Center, a 300,000-square-foot health system property, for an undisclosed sum. The site is located near Brookhurst and the 405 Freeway in Fountain Valley. The center is already home to MemorialCare Health System and its shared services, which fully occupy one of the three modular buildings on the property.MemorialCare is also in the process of acquiring an adjacent property for additional parking. MemorialCare was represented by Tim Helgeson of Newmark Grubb Knight Frank in this transaction.
SACRAMENTO, CALIF. – A 170,000-square-foot office building in downtown Sacramento has sold to an institutional investor for $29.4 million. The acquisition was made as an investment through a separate account managed by CenterSquare Investment Management, the real estate manager for BNY Mellon. The Class A building is located at 770 L Street. The seller was 770 L Street Investment Group Inc.
SALT LAKE CITY — South Temple Tower, a 216,976-square-foot, high-rise tower in Salt Lake City, has sold to Maier Siebel Baber (MSB) for an undisclosed sum. The tower is located at 136 East South Temple in the city’s Central Business District. MSB plans to retrofit, renovate and refurbish the office building. These improvements will be carried out by Architecture Design. The seller was represented by Craig Thomas, Eric Gustafson and Eric Smith of CBRE’s Salt Lake City office. CBRE will continue to manage and lease the asset.