ONTARIO, CALIF. — Ontario Gateway Center, a 220,930-square-foot power center, has received $25.2 million in financing. The center is located at 4420 Ontario Mills Parkway in Ontario. The 10-building property is fully occupied. Anchors include Toys “R” Us and Babies “R” Us. Ross is scheduled to open at the center in late 2013. The loan features a 10-year term and a 3.75 percent fixed interest rate. Financing was arranged by HFF’s Paul Brindley and Steven Paskhover on behalf of an affiliate of Zelman Development Company and Grayburn Properties. The funds were provided by Deutsche Bank.
Western
LAS VEGAS – Southern California law firm Newmeyer & Dillion has expanded out of the state and opened a Las Vegas location. The new office is located at 3993 Howard Hughes Parkway. Nathan Owens, a partner at the firm, will head up the new location. The firm specializes in business, real estate and insurance litigation and transactions. It is headquartered in Newport Beach with an additional office in Walnut Creek.
HOLLYWOOD, CALIF. – A 23-unit apartment building that is located at 1347 North Alta Vista Blvd. in Hollywood has sold to an individual/personal trust for $2 million. The courtyard-style apartment complex was built in 1951. Earle Hyman of Marcus & Millichap’s Encino office represented both the buyer and the seller, which was also an individual/personal trust, in this transaction.
DENVER – A 680,277-square-foot office building in Denver has sold to Franklin Street Properties Corp. for $183 million. The building is located at 1999 Broadway in the city’s Central Business District. The acquisition included a nine-story parking structure. The building is 96 percent leased.
GOODYEAR, ARIZ. — Vista Capital Company has arranged and closed $32 million in financing for a five-property hotel portfolio. The 478-room portfolio includes the Hampton Inn & Suites, Holiday Inn Express, Residence Inn and Holiday Inn Hotel & Suites in Goodyear, as well as the Holiday Inn Express in Washington, Utah. The Goodyear hotels are located within a mile of one another.
ALBANY, ORE. — Hobby Lobby has finally entered the Oregon market. The arts and crafts chain recently leased a 61,000-square-foot outpost at the Heritage Mall in Albany. It will occupy the former Gottschalks building. Hobby Lobby is expected to open in the first quarter of 2014. It will join fellow mall tenants such as Target, Sears, Ross Dress for Less, Old Navy, Maurice’s, rue 21, Zumiez, Famous Footwear, Game Stop and Bath & Body Works. The mall is owned by Vintage Real Estate. It is currently undergoing a renovation and repositioning.
DENVER – A 680,277-square-foot office building in Denver has sold to Franklin Street Properties Corp. for $183 million. The building is located at 1999 Broadway in the city’s Central Business District. The acquisition included a nine-story parking structure. The building is 96 percent leased.
GOODYEAR, ARIZ. — Vista Capital Company has arranged and closed $32 million in financing for a five-property hotel portfolio. The 478-room portfolio includes the Hampton Inn & Suites, Holiday Inn Express, Residence Inn and Holiday Inn Hotel & Suites in Goodyear, as well as the Holiday Inn Express in Washington, Utah. The Goodyear hotels are located within a mile of one another.
ALBANY, ORE. — Hobby Lobby has finally entered the Oregon market. The arts and crafts chain recently leased a 61,000-square-foot outpost at the Heritage Mall in Albany. It will occupy the former Gottschalks building. Hobby Lobby is expected to open in the first quarter of 2014. It will join fellow mall tenants such as Target, Sears, Ross Dress for Less, Old Navy, Maurice’s, rue 21, Zumiez, Famous Footwear, Game Stop and Bath & Body Works. The mall is owned by Vintage Real Estate. It is currently undergoing a renovation and repositioning.
SEATTLE – The Saturn Building, a mixed-use project in Seattle that will contain incubator office spaces for new and fledgling small businesses, has received a $12.9-million portfolio loan. The property is located at 3417 Evanston Ave. North in the city’s Fremont district. This represented the third in a series of loans that HomeStreet Bank Commercial Real Estate has provided to Seattle developers that are delivering smaller, more affordable office space for entrepreneurs and business owners. The loan was facilitated by Carmen Esteban. The project is being developed by Brian Regan.