SAN DIEGO – An 18-unit apartment building located at 4626 Bancroft Street in San Diego has sold to Blue Corner Capital LLC for $2.2 million. The community resides within the Normal Heights neighborhood. Blue Corner was represented by Rita Lancaster-Hannah of Colliers International. The seller, Casa Del Rio LLC, was represented by William R. Anderson of ACRE.
Western
KENT, WASH. — Sweetener Products has purchased a 101,890-square-foot warehouse in Kent for $7.5 million. It is located at 8030 South 194th Street. The buyer currently leases 40,000 square feet at the warehouse. This acquisition will allow the company to expand. Sweetener was represented by Philip T. Attallaand Richard Horn of NAI Capital’s Commerce office. The seller was Prologis.
WEST HOLLYWOOD, CALIF. – A 25-unit apartment building in West Hollywood has sold to Hillstreet Realty, LLC for $5.4 million. It is located at 1251 N. Crescent Heights Blvd. The community was fully leased at the time of sale. Hillstreet was represented by Kimberly Roberts Stepp of Charles Dunn Company. The seller, BG Apartments, LLC, was represented by Hamid Soroudi of Charles Dunn Company. Both Soroudi and Stepp are members of Charles Dunn Company’s The Soroudi Group.
BEVERLY HILLS, CALIF. — Gotham Properties International, a subsidiary of Gotham Capital Management, has opened in Beverly Hills. The full-service brokerage firm will also specialize in property management, general contracting, and property design and improvement. Erik Coffin is serving as CEO. The new office is located on the Sunset Strip.
KENT, WASH. — Sweetener Products has purchased a 101,890-square-foot warehouse in Kent for $7.5 million. It is located at 8030 South 194th Street. The buyer currently leases 40,000 square feet at the warehouse. This acquisition will allow the company to expand. Sweetener was represented by Philip T. Attalla and Richard Horn of NAI Capital’s Commerce office. The seller was Prologis.
WEST HOLLYWOOD, CALIF. – A 25-unit apartment building in West Hollywood has sold to Hillstreet Realty, LLC for $5.4 million. It is located at 1251 N. Crescent Heights Blvd. The community was fully leased at the time of sale. Hillstreet was represented by Kimberly Roberts Stepp of Charles Dunn Company. The seller, BG Apartments, LLC, was represented by Hamid Soroudi of Charles Dunn Company. Both Soroudi and Stepp are members of Charles Dunn Company’s The Soroudi Group.
BEVERLY HILLS, CALIF. — Gotham Properties International, a subsidiary of Gotham Capital Management, has opened in Beverly Hills. The full-service brokerage firm will also specialize in property management, general contracting, and property design and improvement. Erik Coffin is serving as CEO. The new office is located on the Sunset Strip.
VENTURA, CALIF. – The 272-unit Archstone Ventura Colony in Ventura has sold to Raintree Partners for $60 million. The community is located at 848 Weber Circle. This is Raintree’s first Ventura County purchase. The firm plans to renovate the property. IPA’s Ron Harris and Joseph Smolen represented both the buyer and the seller, Archstone, in this transaction. Fannie Mae financing was arranged by Greg Reed and Kristen Croxton of Beech Street Capital.
MERCED, CALIF. – A new $76-million high school is being built in Merced. The 220,000-square-foot El Capitan High School will feature nine buildings, including space for administration, a library, and new classrooms for the English, language arts, math, science, agriculture and special education departments. It will also contain science and IT laboratory facilities, agricultural space, a metal and auto shop, new athletic fields, a gymnasium, a full-service cafeteria, and a full theater that includes an open assembly hall with band and orchestra areas.The phased project is scheduled for completion in June 2013. It is being constructed by Bernards and designed by BCA Architects.
LAGUNA HILLS, CALIF. — The Fresh Market, a full-service specialty grocer, has opened its first Southern California location at The Village at Nellie Gail Ranch in Laguna Hills. The 21,000-square-foot store is expected to open in summer 2014. The village is undergoing a $17-million renovation and expansion.