TUSTIN, CALIF. – An 18,120-square-foot office building in Tustin has sold to Americana Project One, LLC, for $2.44 million. The vacant building is located at 111 Fashion Lane. Chuck Wilson and Blake Garrett of Colliers International represented both the buyer and the seller, Chu Family Trust, in this transaction.
Western
LAS VEGAS – A 6,232-square-foot building in Las Vegas that is occupied by Tire Workshas sold to an unnamed buyer for $2.1 million. It is located at 8532 Blue Diamond Road. Tire Works has 11 years remaining on its lease with three, five-year options to renew. Ray Germain and Tina D. Taylor of Marcus & Millichap’s Las Vegas office represented the seller, a limited liability company, in this transaction.
LOS ANGELES — California Landmark Group (CLG) has announced its plan to develop the “LC,” an 85-unit apartment building with 3,000 square feet of ground-floor retail, in Los Angeles. CLG recently purchased the development’s 55,000-square-foot lot at the corner of Larchmont Boulevard and Melrose Avenue. Construction will begin in March 2013, and is scheduled for completion in January 2015. The LC is being designed by PK Architecture.
ORTING, WASH. – The Pioneer Village Shopping Center in Orting, a tertiary market about 40 miles south of Seattle, has received a $9-million loan. The 82,130-square-foot, Safeway-anchored center is 92 percent leased. The 20-year loan features a 20-year amortization period and an interest rate in the 4-percent range. It was provided by Mike Wood and Andrew Patterson of NBS Financial Services.
GLENDALE, ARIZ. – Construction has been completed on Sarah’s Place, a 24-unit seniors housing residence in Glendale. The 15,000-square-foot facility is located at 6670 W. Butler Drive. It resides within the Glencroft senior living campus. Glencroft, which operates under the leadership of The Friendship Retirement Corporation, a not-for-profit corporation sponsored by Mennonite Health Services,also owns Sarah’s Place. The new facility will provide specialized care for individuals suffering from memory loss. It was constructed by McShane Construction Company and designed by Orcutt | Winslow Partnership.
SEATTLE — Trammell Crow Company (TCC) has re-opened its Seattle office. It will be led by Mike Nelson, Craig Dobbs and Mark Netherland, who will focus on office, industrial and retail development and investment opportunities throughout the Puget Sound area. All three join TCC as senior vice presidents. Tom Woodworth is also scheduled to join the team in April 2013. He will oversee all development and acquisition projects, new business pursuits, finance and office operations.
LOS ANGELES — California Landmark Group (CLG) has announced its plan to develop the “LC,” an 85-unit apartment building with 3,000 square feet of ground-floor retail, in Los Angeles. CLG recently purchased the development’s 55,000-square-foot lot at the corner of Larchmont Boulevard and Melrose Avenue. Construction will begin in March 2013, and is scheduled for completion in January 2015. The LC is being designed by PK Architecture.
ORTING, WASH. – The Pioneer Village Shopping Center in Orting, a tertiary market about 40 miles south of Seattle, has received a $9-million loan. The 82,130-square-foot, Safeway-anchored center is 92 percent leased. The 20-year loan features a 20-year amortization period and an interest rate in the 4-percent range. It was provided by Mike Wood and Andrew Patterson of NBS Financial Services.
GLENDALE, ARIZ. – Construction has been completed on Sarah’s Place, a 24-unit seniors housing residence in Glendale. The 15,000-square-foot facility is located at 6670 W. Butler Drive. It resides within the Glencroft senior living campus. Glencroft, which operates under the leadership of The Friendship Retirement Corporation, a not-for-profit corporation sponsored by Mennonite Health Services,also owns Sarah’s Place. The new facility will provide specialized care for individuals suffering from memory loss. It was constructed by McShane Construction Company and designed by Orcutt | Winslow Partnership.
SEATTLE — Trammell Crow Company (TCC) has re-opened its Seattle office. It will be led by Mike Nelson, Craig Dobbs and Mark Netherland, who will focus on office, industrial and retail development and investment opportunities throughout the Puget Sound area. All three join TCC as senior vice presidents. Tom Woodworth is also scheduled to join the team in April 2013. He will oversee all development and acquisition projects, new business pursuits, finance and office operations.