HAYWARD, CALIF. – The 20-unit Manon Garden Apartments in Hayward has sold to an unnamed buyer for $2.6 million. The community is located at 27435 Manon Ave. The seller, a limited liability company, was represented by David Weglarz of Marcus & Millichap’s Oakland office.
Western
EL SEGUNDO, CALIF. – A 198,532-square-foot office building in El Segundo has sold to Menlo Equities for an undisclosed sum. The building is located at 101 North Sepulveda. It is 89 percent leased to Federal Express and International Rectifier. The seller, a global investment manager, was represented by HFF’s Michael Ross, Paul Brindley, Richard Plummer and Andrew Harper.
PHOENIX – The 432-unit Arcadia Cove Apartments in Phoenix has sold to Bascom Arizona Ventures for an undisclosed sum. The community is located at 2252 N. 44th Street. The 25-building complex was built in 1996. Bascom plans to recapitalize the property and execute interior and exterior renovations.
PUYALLUP, WASH. – The 251-unit One Canyon Place in Puyallup has received $18 million in financing. The community is located at 11619 Canyon Road East just east of Tacoma. It is 97 percent occupied. The 35-year, fixed-rate loan features a 3.2 percent interest rate and a 72 percent loan-to-value ratio. The non-recourse financing was arranged by Louis Weisman of Berkadia Commercial Mortgage LLC’s Seattle office on behalf of Delta II LLC. It was arranged through the firm’s FHA/HUD 223(f) program.
HAYWARD, CALIF. – The 20-unit Manon Garden Apartments in Hayward has sold to an unnamed buyer for $2.6 million. The community is located at 27435 Manon Ave. The seller, a limited liability company, was represented by David Weglarz of Marcus & Millichap’s Oakland office.
EL SEGUNDO, CALIF. – A 198,532-square-foot office building in El Segundo has sold to Menlo Equities for an undisclosed sum. The building is located at 101 North Sepulveda. It is 89 percent leased to Federal Express and International Rectifier. The seller, a global investment manager, was represented by HFF’s Michael Ross, Paul Brindley, Richard Plummer and Andrew Harper.
ALISO VIEJO, CALIF. — Summit Phase V, a 250,803-square-foot, Class A office campus in Aliso Viejo, has received $33.5 million in financing. The two-building campus is located at 20 and 30 Enterprise Drive. When completed in 2007, it represented the fifth phase of a 1.6-million-square-foot, master-planned campus that included a corporate hotel, dining and fitness amenities.
LAKE OSWEGO, ORE. – Kruse Village, a 65,000-square-foot retail and restaurant center, will soon break ground in Lake Oswego. The six-building center will be located at 4591 S.W. Carman Drive. This five-acre site represents the last parcel of homestead land that is owned by the Kruse family. Construction is expected to commence later this year and should be complete by fall 2014. It will be developed by Gramor Development. Commercial Realty Advisors will oversee the leasing efforts.
PHOENIX — Weber Distribution LLC has renewed its lease for 48,000 square feet at Tolleson Commerce Park II in Phoenix. The park is located at 5 South 84th Ave. in the Phoenix submarket of Tolleson. Weber has occupied this space since 2001. The landlord is Chambers Street Properties.
ALISO VIEJO, CALIF. — Summit Phase V, a 250,803-square-foot, Class A office campus in Aliso Viejo, has received $33.5 million in financing. The two-building campus is located at 20 and 30 Enterprise Drive. When completed in 2007, it represented the fifth phase of a 1.6-million-square-foot, master-planned campus that included a corporate hotel, dining and fitness amenities.