FONTANA, CALIF. – A 111,419-square-foot industrial building in Fontana has sold to Molto Capital, LLC for $7.8 million. The Class A building is located at 13508 Marlay Ave. It includes 4,000 square feet of office space. Molto was represented by Brad Yates, Richard Schwartz and Stefan Pastor of Colliers International. The seller, C.H. HU Corporation, an ownership entity of Organize It All, represented itself in this transaction.
Western
RENO, NEV. — The View Apartments, a 308-unit multifamily community in Reno, has sold to RPM Company Management Group for $35 million. The two Class A complexes are located at 1195 and 1850 Selmi Drive. The seller, Fore Property Company, was represented by Stan Jones, Phil Saglimbeni and Sal Saglimbeni of Institutional Property Advisors. Ken Blomsterberg of affiliated brokerage firm Marcus & Millichap Real Estate Investment Services also advised the seller.
HUNTINGTON BEACH, CALIF. — Edinger Plaza, a 155,000-square-foot retail center in Huntington Beach, has completed its $20-million renovation, which commenced in late 2011. Improvements to the plaza included site, landscaping and exterior upgrades. A few of the center’s buildings were also expanded. They include a vacant 25,000-square-foot building that was expanded to 47,948 square feet to accommodate Dick’s Sporting Goods; another vacant building that was expanded to 34,000 square feet to accommodate Nordstrom Rack; and a Michaels store that was expanded to 25,000 square feet. The center also received a new drive-thru Starbucks. Edinger Plaza is now 94 percent leased. Ken Shishido and Chris Wilson of Wilson Commercial Real Estate serve as the center’s leasing agents, while Coreland Companies oversees the property management. MPA acted as project manager of the plaza’s redevelopment.
ONTARIO, CALIF. – A 2,313-square-foot property in Ontario that is triple-net leased to Taco Bell has sold to a private investor for $2.06 million. It is located at 2544 S. Archibald Ave. Taco Bell recently renewed its long-term corporate lease for another 20 years. Phil Voorhees, John Read, Patrick Toomey and Megan Read of CBRE’s National Retail Investment Group-West represented the seller in this transaction.
IRVINE, CALIF. – Merchsource has purchased a 26,799-square-foot office building inside the Irvine Spectrum for an undisclosed sum. The two-story building is located at 15 Cushing in Irvine. Merchsource was represented by Chip Wright & Gregg Haly of CBRE’s Newport Beach office. The seller, Cushing Properties LLC, was represented by Geoff DeWolf and Steve Economos of 360 Commercial.
RENO, NEV. — The View Apartments, a 308-unit multifamily community in Reno, has sold to RPM Company Management Group for $35 million. The two Class A complexes are located at 1195 and 1850 Selmi Drive. The seller, Fore Property Company, was represented by Stan Jones, Phil Saglimbeni and Sal Saglimbeni of Institutional Property Advisors. Ken Blomsterberg of affiliated brokerage firm Marcus & Millichap Real Estate Investment Services also advised the seller.
HUNTINGTON BEACH, CALIF. — Edinger Plaza, a 155,000-square-foot retail center in Huntington Beach, has completed its $20-million renovation, which commenced in late 2011. Improvements to the plaza included site, landscaping and exterior upgrades. A few of the center’s buildings were also expanded. They include a vacant 25,000-square-foot building that was expanded to 47,948 square feet to accommodate Dick’s Sporting Goods; another vacant building that was expanded to 34,000 square feet to accommodate Nordstrom Rack; and a Michaels store that was expanded to 25,000 square feet. The center also received a new drive-thru Starbucks. Edinger Plaza is now 94 percent leased. Ken Shishido and Chris Wilson of Wilson Commercial Real Estate serve as the center’s leasing agents, while Coreland Companies oversees the property management. MPA acted as project manager of the plaza’s redevelopment.
ONTARIO, CALIF. – A 2,313-square-foot property in Ontario that is triple-net leased to Taco Bell has sold to a private investor for $2.06 million. It is located at 2544 S. Archibald Ave. Taco Bell recently renewed its long-term corporate lease for another 20 years. Phil Voorhees, John Read, Patrick Toomey and Megan Read of CBRE’s National Retail Investment Group-West represented the seller in this transaction.
IRVINE, CALIF. – Merchsource has purchased a 26,799-square-foot office building inside the Irvine Spectrum for an undisclosed sum. The two-story building is located at 15 Cushing in Irvine. Merchsource was represented by Chip Wright & Gregg Haly of CBRE’s Newport Beach office. The seller, Cushing Properties LLC, was represented by Geoff DeWolf and Steve Economos of 360 Commercial.
LONG BEACH, CALIF. – Sares Regis has purchased 160 acres at Long Beach Airport for an undisclosed sum. The land has the potential to hold about 3.2 million square feet of office, industrial and retail developments. The acreage is located at Douglas Park, a 261-acre property that was owned and master-planned by Boeing Realty Corporation. Sares Regis has already begun to develop Pacific Pointe, which will include seven corporate-headquarters buildings totaling 677,142 square feet on 33.6 acres at the park. CBRE’s Bob Smith, Brian DeRevere and John Schumacher represented both the buyer and the seller in this transaction.