CHINO, CALIF. – The 40-unit Vista Park Chino has sold to Preservation Vista Park Chino, LP for $6 million. The community is located at 5819 Riverside Drive. The seller was Vista Park Chino, LP. The transaction was executed by Alex Mogharebi of Hendricks & Partners’ Ontario office.
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SAN FRANCISCO – A 14-unit apartment building located at 1550-1566 Hyde Street in San Francisco has sold to a limited liability company for $2.6 million. The community also contains two retail units. Dimitris Drolapas, James Devincenti and Brad Lagomarsino of Marcus & Millichap’s San Francisco office represented both the buyer andthe seller, a private investor, in this transaction.
SAN DIEGO – A property containing a 24,900-square-foot office building and a 9,000-square-foot medical building in San Diego has sold to 7625-7675 Linda Vista Road, LLC for $9.2 million. The buying entity is controlled by Scott Leary. The San Diego neurosurgeon plans to move his practice into the building and lease out the remaining space. The entity was represented by Brandon Keith and Stephen Dok of Voit’s San Diego office, along with David Schmidt of The Schmidt Group. The seller, AFJR Partnership, LP., was also represented by Keith and Dok.
SAN JOSE, CALIF. – A joint venture between W3 Partners and AllianceBernstein U.S. Real Estate Partners L.P. has purchased a 64,336-square-foot flex-tech building in San Jose. The building is located at 3939 North First Street. W3 will act as the operating partner.
CHINO, CALIF. – The 40-unit Vista Park Chino has sold to Preservation Vista Park Chino, LP for $6 million. The community is located at 5819 Riverside Drive. The seller was Vista Park Chino, LP. The transaction was executed by Alex Mogharebi of Hendricks & Partners’ Ontario office.
SAN FRANCISCO – A 14-unit apartment building located at 1550-1566 Hyde Street in San Francisco has sold to a limited liability company for $2.6 million. The community also contains two retail units. Dimitris Drolapas, James Devincenti and Brad Lagomarsino of Marcus & Millichap’s San Francisco office represented both the buyer and the seller, a private investor, in this transaction.
TEMPE, ARIZ. — Tempe Gateway, a 263,936-square-foot, Class A office building, has sold to Parkway Properties for $66.1 million. The property is located at 222 S. Mill Ave. in Tempe. It currently boasts a 74 percent occupancy. Parkway Properties was represented by Jim Fijan of CBRE’s Phoenix office in its unsolicited acquisition offer. The seller was Gateway Tempe LLC, a company formed by Vulcan Inc.
SAN DIEGO — Kimco Realty Corp. has acquired its institutional partner’s 50 percent ownership interest in San Diego’s Santee Trolley Square. The acquisition was based on a gross purchase price of $98 million. The 311,000-square-foot power center is encumbered by a $48.5-million mortgage. It is anchored by T.J.Maxx, PetSmart, Party City, Bed Bath & Beyond, 24 Hour Fitness, Old Navy and a shadow-anchored Target.
SAN DIEGO — A four-story office building has sold to Hammer Commercial Ventures for $5.3 million. It is located at 440 Upas Street. The acquisition also includes two additional land parcels on Upas Street. Brian Mulvaney and Jon Boland of Voit’s San Diego office represented both the buyer and the seller, San Diego Blood Bank, in this transaction. Hammer Commercial Ventures, LLC is an operating member of Balboa Phase I, LLC.
PORTLAND, ORE. – Lot 1 of RiverscapeDevelopment, a 1.5-acre parcel on Portland’s riverfront, has sold to Holt Distressed Property Fund for an undisclosed sum. The fund had previously purchased four additional lots in theRiverscapeDevelopment during summer 2011. The site is designated for residential mixed-use development.Charlie Kleier, Robert Black and Sierk Braam of NAI Norris, Beggs & Simpson represented both the buyer and the unnamed seller in this transaction.