LOS ANGELES — The 58-unit Avondale Apartments in Hollywood has sold to Avondale Hollywood LLC for $6 million. The community is located at 1825 North Cahuenga Blvd. The vintage property was built in 1928. Darin Beebower of Madison Partners represented both the buyer and the seller, 1825 N. Cahuenga LLC, in this transaction.
Western
MODESTO, CALIF. — A 45,950-square-foot retail property in Modesto that is leased to Best Buy has sold to an unnamed buyer for $6 million. It is located off State Highway 99 and Sisk Road. There are seven years remaining on Best Buy’s 20-year, absolute triple-net lease. The lease also offers three, five-year renewal options with rental increases every five years. Rod Pickney and Chad Byerly of Stan Johnson Company represented the unnamed seller in this transaction.
PHOENIX — Valley Pallet has leased a 42,000-square-foot building inside the Buckeye Industrial Center II in Phoenix. The center is located at 5707 W. Buckeye Road. The pallet manufacturing and recycling company was represented by Greg Dodge of Cassidy Turley Arizona’s Industrial Group. The landlord, DF Properties, was represented by Andy Cloud of the same group.
PHOENIX — The Cortina Apartments, a 104-unit multifamily community in Phoenix, has sold to Jupiter Investment Group for an undisclosed sum. The community was 94 percent occupied at the time of sale. It is located at 11 E. Bell Road. Jupiter Investment represented itself in this transaction, while the unnamed seller was represented by Tyler Anderson, Sean Cunningham and Asher Gunter of CBRE’s Phoenix office.
GLENDORA, CALIF. – A 41,000-square-foot industrial building in Glendora has sold to R & H Investments for $4.2 million. It is located at 1332 S. Lone Hill Ave. The seller, Levine JA Spousal Access Trust, was represented by Rusty Williams and Chris Roth of Lee & Associates-North San Diego County and Chris Bonney of Lee & Associates-City of Industry.
MODESTO, CALIF. — A 45,950-square-foot retail property in Modesto that is leased to Best Buy has sold to an unnamed buyer for $6 million. It is located off State Highway 99 and Sisk Road. There are seven years remaining on Best Buy’s 20-year, absolute triple-net lease. The lease also offers three, five-year renewal options with rental increases every five years. Rod Pickney and Chad Byerly of Stan Johnson Company represented the unnamed seller in this transaction.
PHOENIX — Valley Pallet has leased a 42,000-square-foot building inside the Buckeye Industrial Center II in Phoenix. The center is located at 5707 W. Buckeye Road. The pallet manufacturing and recycling company was represented by Greg Dodge of Cassidy Turley Arizona’s Industrial Group. The landlord, DF Properties, was represented by Andy Cloud of the same group.
PHOENIX — The Cortina Apartments, a 104-unit multifamily community in Phoenix, has sold to Jupiter Investment Group for an undisclosed sum. The community was 94 percent occupied at the time of sale. It is located at 11 E. Bell Road. Jupiter Investment represented itself in this transaction, while the unnamed seller was represented by Tyler Anderson, Sean Cunningham and Asher Gunter of CBRE’s Phoenix office.
GLENDORA, CALIF. – A 41,000-square-foot industrial building in Glendora has sold to R & H Investments for $4.2 million. It is located at 1332 S. Lone Hill Ave. The seller, Levine JA Spousal Access Trust, was represented by Rusty Williams and Chris Roth of Lee & Associates-North San Diego County and Chris Bonney of Lee & Associates-City of Industry.
REDLANDS, CALIF. – The 296-unit Barton Vineyard Apartments in Redlands has received a $32.7-million refinance. The Class A community is located at 26630 Barton Road. The 10-year loan features a 2.31 percent adjustable interest rate and a 30-year amortization schedule. It was arranged by Rob Cantizano of Berkeley Point Capital through Fannie Mae’s Structured ARM program.