WOODLAND, CALIF. – Walmart has announced plans to open a new Walmart Neighborhood Market in Woodland. The smaller-format store will occupy a 62,000-square-foot building at 1250 E. Gibson Road about 15 miles northwest of Sacramento. The building was previously occupied by Mervyn’s at the County Fair Fashion Mall. The mall is owned by County Fair Fashion Mall, LLC and managed by Primero Management. Scott Sterlekar serves as the mall’s director of real estate and leasing.
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OXNARD, VENTURA, CALIF. — Kaiser Permanente has purchased two Class A buildings in Central California that it currently occupies for $15.2 million. The buildings are located at 2200 East Gonzales in Oxnard and 888 South Hill in Ventura. Each building contains 31,235 square feet and is fully occupied by Kaiser. The seller, Wilmington Trust, which worked on behalf of a privately held trust, was represented by CBRE’s Bryan Lewitt, Chris Bodnar, Lee Asher and Chris Isola.
LOS ANGELES – A 48-unit apartment complex in Valley Village has sold to a local apartment owner/operator for $15.2 million. The community is located at 11925 Kling Street just southwest of North Hollywood. The complex was originally built in 2012 as for-sale condos. Matt Ziegler of Marcus & Millichap’s Encino office represented both the buyer and the seller, which was also a local apartment owner/operator.
SAN DIEGO – The 31-unit Grove Meadow Apartments in Imperial Beach has sold to Charles Kreutzkamp for $3.5 million. The community is located at 1445 Grove Ave. in southern San Diego. It was fully leased at the time of sale. Kreutzcamp was represented by Eric Comer, Jim Neil and Merrick Matricardi of CBRE San Diego. The seller, Song 1985 Trust, was represented by Andrew Parashos of Torrey Pines Property Management.
WOODLAND, CALIF. – Walmart has announced plans to open a new Walmart Neighborhood Market in Woodland. The smaller-format store will occupy a 62,000-square-foot building at 1250 E. Gibson Road about 15 miles northwest of Sacramento. The building was previously occupied by Mervyn’s at the County Fair Fashion Mall. The mall is owned by County Fair Fashion Mall, LLC and managed by Primero Management. Scott Sterlekar serves as the mall’s director of real estate and leasing.
LAS VEGAS – The Genting Group has purchased the 87-acre Echelon development site on the Las Vegas Strip for $350 million. The company plans to build a $2-billion hotel-casino complex called Resorts World Las Vegas. Construction is scheduled to begin on the first phase in 2014. It will include a 3,500- room hotel and a 175,000-square-foot casino. The resort is scheduled to open in 2016. The Echelon site was sold by Boyd Gaming, which halted construction on its $4.8-billion project in August. 2008. It would have contained five hotels and a 140,000-square-foot casino.
FREMONT, CALIF. — Seagate Technology has announced plans to build a $180-million research and development complex at the former 411,618-square-foot Solyndra plant in Fremont. The company purchased the Class A facility in February for $90.2 million after Solyndra filed for bankruptcy. The building is located at 47488 Kato Road. The disk drive company plans to occupy the facility. Seagate was represented by Donald Reimann, Sean Toomey and Gregg Von Thaden of Colliers International. Solyndra was represented by Bart Lammersen, Greg Matter and Jason Ovadia of Jones Lang LaSalle in the all-cash sale.
PHOENIX – A two-property multifamily portfolio in the Metro Phoenix area has sold to a company formed by Bascom Arizona Ventures LLC for an undisclosed sum. The properties include the 396-unit Country Brook at 4909 West Joshua Blvd. in Chandler and the 379-unit Little Cottonwoods at 1820 East Bell De Mar Drive in Tempe. The seller, a publicly traded REIT, was represented by Steve Gebing and Cliff David of Marcus & Millichap’s Phoenix office.
WILSONVILLE, ORE. — Rite Aid has renewed its lease for 516,693 square feet at the Wilsonville Distribution Center. The center is located at 29555 SW Boones Ferry Road just south of Portland. The drugstore utilizes this facility as its Pacific Northwest regional distribution center.Rite Aid was represented by Tyler SheilsandTodd Hughesof Jones Lang LaSalle. The center is owned by GE Capital.
LAS VEGAS – The Genting Group has purchased the 87-acre Echelon development site on the Las Vegas Strip for $350 million. The company plans to build a $2-billion hotel-casino complex called Resorts World Las Vegas. Construction is scheduled to begin on the first phase in 2014. It will include a 3,500- room hotel and a 175,000-square-foot casino. The resort is scheduled to open in 2016. The Echelon site was sold by Boyd Gaming, which halted construction on its $4.8-billion project in August. 2008. It would have contained five hotels and a 140,000-square-foot casino.