RANCHO CUCAMONGA, CALIF. — Ironwood and Fairway Palms, a 496-unit apartment community in Rancho Cucamonga, has sold to Western National Realty Advisors for $100.8 million. The Class A property consists of two adjacent apartment communities that will now be operated and managed as one by Western National Property Management.This will be the final acquisition under the company’s Western National Realty Fund II, L.P., which was its second private equity fund. The seller, JP Morgan, was represented by Mike Murphy of Moran and Company.
Western
RIVERSIDE, CALIF. – A 6,160-square-foot, single-tenant property that is occupied by Chase Bank in Riverside has sold to a private Los Angeles investor for $5 million. The property is located at 10355 Magnolia Ave. The buyer was represented by George Y. Ragheb of Entrance Homes. The seller, 665 Claremont LP, was represented by William B. Asher, Kevin T. Fryman and Edward B. Hanley of Hanley Investment Group Real Estate Advisors.
FERNDALE, WASH. – A 2,812-square-foot, net-leased building in Ferndale that is occupied by Jack in the Box has sold to an unnamed buyer for $2 million. The property is located at 1819 Main Street. The seller, a limited liability company, was represented by Aaron Hines of Marcus & Millichap’s Seattle office.
RENO, NEV. – The Lear Industrial Center in Reno has reached full capacity. The Burrows Corporation and Bizchair were two of the last tenants to nab space at this 390,000-square-foot facility. Lear Industrial is owned by Panattoni. Miller Industrial Properties serves as the property’s leasing agent.
RANCHO CUCAMONGA, CALIF. — Ironwood and Fairway Palms, a 496-unit apartment community in Rancho Cucamonga, has sold to Western National Realty Advisors for $100.8 million. The Class A property consists of two adjacent apartment communities that will now be operated and managed as one by Western National Property Management. This will be the final acquisition under the company’s Western National Realty Fund II, L.P., which was its second private equity fund. The seller, JP Morgan, was represented by Mike Murphy of Moran and Company.
RIVERSIDE, CALIF. – A 6,160-square-foot, single-tenant property that is occupied by Chase Bank in Riverside has sold to a private Los Angeles investor for $5 million. The property is located at 10355 Magnolia Ave. The buyer was represented by George Y. Ragheb of Entrance Homes. The seller, 665 Claremont LP, was represented by William B. Asher, Kevin T. Fryman and Edward B. Hanley of Hanley Investment Group Real Estate Advisors.
FERNDALE, WASH. – A 2,812-square-foot, net-leased building in Ferndale that is occupied by Jack in the Box has sold to an unnamed buyer for $2 million. The property is located at 1819 Main Street. The seller, a limited liability company, was represented by Aaron Hines of Marcus & Millichap’s Seattle office.
RENO, NEV. – The Lear Industrial Center in Reno has reached full capacity. The Burrows Corporation and Bizchair were two of the last tenants to nab space at this 390,000-square-foot facility. Lear Industrial is owned by Panattoni. Miller Industrial Properties serves as the property’s leasing agent.
LOS ANGELES — EVOQ Properties has disposed of three non-core assets in Downtown Los Angeles. The disposition includes a series of vacant lots and industrial buildings that are located at 915-949 S. Hill, in addition to industrial buildings located at 759 Ceres and 643 Gladys avenues. The sales’ gross proceeds totaled $19.5 million. Some of the proceeds were used to pay off about $15.3 million in secured principal debt and $1.7 million of contingent deferred interest.
HENDERSON, NEV. — LBG Realty Advisors has purchased a Home Depot building at the Sunset Plaza shopping center in Henderson for $13.5 million. Home Depot anchors the center. The acquisition also includes an undeveloped pad that could house an additional 6,000-square-foot building. LBG purchased the building in partnership with an affiliate of Aviva Investors North America. The seller was SMA Ltd.