LAS VEGAS —Colonial Plaza, a 110,738-square-foot office complex in Las Vegas, has sold to MIG Real Estate for $13 million. The complex is located at 4670 & 4730 South Fort Apache Road near the 215 Beltway. MIG was represented by Colonial Plaza in this transaction. It is the firm’s sixth investment in Las Vegas commercial properties.
Western
LOS ANGELES – A 109,000-square-foot broadcast and post production facility in Los Angeles has received $20 million in acquisition financing. The facility is located at 3030 Andrita Street. It was built in 1925 as an office and industrial complex before being converted into a “plug and play,” high-definition media facility in 2002. The facility is now referred to as Andrita Studios. It is fully occupied by Encompass Digital Media Inc. Financing was provided by Karlin Real Estate Lending.
AURORA, COLO. — HighPoint Marketplace, a 99,433-square-foot retail center, has received $15 million in refinancing. It is located at 18648-18860 E. Hampden Ave. and 3594 S. Tower Road. The center was built in 2001 and is anchored by a 55,580-square-foot Safeway. Other notable tenants include Great Clips, Wendy’s and H&R Block. Financing was arranged by John M. Stewart and Ilan Reissner of NorthMarq Capital’s Denver regional office.
LAS VEGAS — Colonial Plaza, a 110,738-square-foot office complex in Las Vegas, has sold to MIG Real Estate for $13 million. The complex is located at 4670 & 4730 South Fort Apache Road near the 215 Beltway. MIG was represented by Colonial Plaza in this transaction. It is the firm’s sixth investment in Las Vegas commercial properties.
TEMPE, ARIZ. — Warner Business Center, a 321,000-square-foot flex/office building in Tempe, has sold to a joint venture between ViaWest Group and Contrarian Capital Management, LLC for an undisclosed sum. The seven-building center was purchased through a credit bid at the trustee sale. The JV purchased the debt and completed the foreclosure process. The center is located at 1121, 1131, 1221, 1231, 1241 West Warner Road, and 8905, 8930 South Beck Ave. It is 67 percent occupied.
SCOTTSDALE, ARIZ. — Mesquite Corporate Center, a 79,537-square-foot office building in Scottsdale, has sold to Waittcorp Real Estate, LLC, for $15.2 million. The Class A building is located at 14646 North Kierland Blvd. The center overlooks a nine-hole golf course that is part of the Kierland Golf Club, which is attached to the Westin Kierland Resort & Spa. Mesquite was 96 percent occupied at the time of sale. The seller, DPC Development Company, an entity of DPC Development Company, was represented by CBRE’s Barry Gabel, Chris Marchildon and Mindy Korth. Waittcorp represented itself in this transaction.
CHEHALIS, WASH. — The 60-unit Chehalis Avenue apartments has sold to Chehalis Avenue Apartments 2, LLC for $2 million. The HUD community is located at 366 SW Third Street in Chehalis. It was built in 1969. The transaction was executed by Robert DiPietrae of Hendricks-Berkadia’s Seattle office. The seller was Chehalis Avenue Company, LP.
TEMPE, ARIZ. — Warner Business Center, a 321,000-square-foot flex/office building in Tempe, has sold to a joint venture between ViaWest Group and Contrarian Capital Management, LLC for an undisclosed sum. The seven-building center was purchased through a credit bid at the trustee sale. The JV purchased the debt and completed the foreclosure process. The center is located at 1121, 1131, 1221, 1231, 1241 West Warner Road, and 8905, 8930 South Beck Ave. It is 67 percent occupied.
SCOTTSDALE, ARIZ. — Mesquite Corporate Center, a 79,537-square-foot office building in Scottsdale, has sold to Waittcorp Real Estate, LLC, for $15.2 million. The Class A building is located at 14646 North Kierland Blvd. The center overlooks a nine-hole golf course that is part of the Kierland Golf Club, which is attached to the Westin Kierland Resort & Spa. Mesquite was 96 percent occupied at the time of sale. The seller, DPC Development Company, an entity of DPC Development Company, was represented by CBRE’s Barry Gabel, Chris Marchildon and Mindy Korth. Waittcorp represented itself in this transaction.
CHEHALIS, WASH. — The 60-unit Chehalis Avenue apartments has sold to Chehalis Avenue Apartments 2, LLC for $2 million. The HUD community is located at 366 SW Third Street in Chehalis. It was built in 1969. The transaction was executed by Robert DiPietrae of Hendricks-Berkadia’s Seattle office. The seller was Chehalis Avenue Company, LP.