LAKE OSWEGO, ORE. – The 113,910-square-foot Five Centerpointe office building in Lake Oswego has sold to Urban Renaissance Investment Partners Ifor an undisclosed amount. The center is located in the Kruse Way submarket. The office building is currently 85 percent leased. The buyer was represented by Buzz Ellis and Andrew Rosengarten of Jones Lang LaSalle. The seller, a pension fund, was also represented by Ellis.
Western
SALEM, ORE. – The 48-unit Mountain View Apartments in Salem has received a $2.1-million refinance loan. The loan features a 10-year fixed-rate term and a 30-year amortization. The loan was originated by Dan Ross of Alliant Capital LLC.
SCOTTSDALE, ARIZ. — Regus Corporation has leased 16,324 square feet of office space at Promenade Corporate Center in Scottsdale. The center is located at 16427 N. Scottsdale Road. The Class A office buildings are 87 percent occupied. Regus was represented by CBRE’s Kevin Calihan. The landlord, Excel Promenade Office LLC, was represented by Jeffrey Wentworth and Sean Spellman of Cassidy Turley Arizona’s Office Group.
LODI, CALIF. — North American Pipe Corporation has purchased CertainTeed’s Pipe and Foundation Group(PFG), which includes its Lodi manufacturing and operating facilities, for $175 million. CertainTeed Corporation is a subsidiary of the French companyCompagnie de Saint-Gobain. North American Pipe Corporation is a subsidiary of Westlake Chemical Corporation. PFG produces PVC pipes and fittings for municipal, water well, mining, agriculture and irrigation applications at its plant. The sale also included the PVC pipe, fittings, technologies and intellectual properties, profiles and foundations business, as well as an additional plant in McPherson, Kan.
TRUCKEE, CALIF. — The Northstar Lodge, a Hyatt Residence Club in Truckee, has sold to Welk Resort Group for an undisclosed sum. The transaction includes the 23 remaining unsold whole-ownership and fractional residential units, as well as two entitled development parcels. The parcels are entitled for an additional 67 units totaling 102,619 square feet. The ski-in/ski-out private residence club is located at the base of Northstar Mountain in Lake Tahoe. The seller, LTMR Properties, LLC, was represented by HFF’s Holden Lim and Scott Hall.
TEMPE, ARIZ. — A two-building, Class A office complex in Tempe has received $34 million in first-mortgage refinancing. The buildings are located at 100 & 150 West University Drive. They contain a total of 299,000 square feet and are currently 99 percent occupied. JP Morgan Chase occupies about 90 percent of the space. The funds were provided to Brookfield Asset Management by Jason Bressler of Mesa West. Financing was arranged by HFF’s John Ahmed.
GILBERT, ARIZ. – The 147-unit Legacy Village at Gilbert Towne Center has sold to a San Diego-based private investor for $15.6 million. The community is located at 351 East Civic Center Drive in Gilbert. The buyer was represented by Dixie Hall of CB Richard Ellis’ San Diego office. The seller, Legacy Partners Residential, was represented by Steve Gebing and Cliff David of Marcus & Millichap’s Phoenix office.
LODI, CALIF. — North American Pipe Corporation has purchased CertainTeed’s Pipe and Foundation Group (PFG), which includes its Lodi manufacturing and operating facilities, for $175 million. CertainTeed Corporation is a subsidiary of the French company Compagnie de Saint-Gobain. North American Pipe Corporation is a subsidiary of Westlake Chemical Corporation. PFG produces PVC pipes and fittings for municipal, water well, mining, agriculture and irrigation applications at its plant. The sale also included the PVC pipe, fittings, technologies and intellectual properties, profiles and foundations business, as well as an additional plant in McPherson, Kan.
TRUCKEE, CALIF. — The Northstar Lodge, a Hyatt Residence Club in Truckee, has sold to Welk Resort Group for an undisclosed sum. The transaction includes the 23 remaining unsold whole-ownership and fractional residential units, as well as two entitled development parcels. The parcels are entitled for an additional 67 units totaling 102,619 square feet. The ski-in/ski-out private residence club is located at the base of Northstar Mountain in Lake Tahoe. The seller, LTMR Properties, LLC, was represented by HFF’s Holden Lim and Scott Hall.
TEMPE, ARIZ. — A two-building, Class A office complex in Tempe has received $34 million in first-mortgage refinancing. The buildings are located at 100 & 150 West University Drive. They contain a total of 299,000 square feet and are currently 99 percent occupied. JP Morgan Chase occupies about 90 percent of the space. The funds were provided to Brookfield Asset Management by Jason Bressler of Mesa West. Financing was arranged by HFF’s John Ahmed.