SANTA MONICA, CALIF. – A 7,500-square-foot retail property in Santa Monica that is leased to Converse has received a $7-million, full cash-out loan. The property is located on Santa Monica’s Third Street Promenade. The 15-year loan features a 30-year amortization schedule and a 4.98 percent fixed interest rate. The loan was arranged by George Smith Partners. Barbara Tenzer of Tenzer Commercial represented the lessor in this transaction.
Western
SHERMAN OAKS, CALIF. — A new 12,830-square-foot CVS/Pharmacy is set to open in Sherman Oaks, a Los Angeles submarket. The $3.5-million development is located at 5601 Van Nuys Blvd. It was developed by LandMark Retail Group. The 1.23-acre site previously housed an abandoned auto dealership.
SAN DIEGO — Lightwave Corporate Center, a 166,892-square-foot data center and office property in San Diego, has sold to an unnamed buyer for an undisclosed sum. It is located at 9305 Lightwave Ave. in the Kearny Mesa submarket. The center is fully leased to tenants such as American Internet Services and the San Diego Gas & Electric Company. The property was jointly marketed by HFF’s Nick Psyllos and Ryan Gallagher, along with CBRE’s Kevin Shannon, Scott Schumacher, Ken White, Brad Black and Rob Merkin. The seller was LBA Realty.
SAN DIEGO — Freedom Station, a 12-unit housing facility and recovery support center for injured warriors, has sold to Freedom Station USA, a non-profit organization. The purchase price was not disclosed. The facility is located near Naval Medical Center San Diego, one of the country’s largest military hospitals. Freedom Station USA had initially leased and opened the center in May 2010. HFF’s local offices donated their commercial real estate services to assist the non-profit with its purchase. The firm’s Bryan Clark provided commercial mortgage financing and consulting services to Freedom Station USA.
CHANDLER, ARIZ. – The Chandler Midway Corporate Center, a 139,803-square-foot office campus, has sold to ViaWest Group for $10.1 million. The center is located at 5710 W. Chandler, which is 70 percent occupied, and 5670 W. Chandler, which is vacant. The center resides in the City of Chandler. The campus includes the two Class A office buildings, as well as five office condominium buildings. The company plans to sell off the condo units. ViaWest was represented by Scott Baumgarten, Mark Stratz, and Tyler Wilson of Cassidy Turley. The seller, McMahon Development Group, was represented by CBRE’s Kevin Cosca and Pete Wentis.
SAN FRANCISCO — Firespotter Labs has signed a five-year lease for 12,600 square feet at the OpenTV building in San Fransisco. The building is located at 275 Sacramento. Firespotter was represented by CBRE’s Conor Famulener and Jeff Birnbaum.
SCOTTSDALE, ARIZ. – The 24-unit Los Porticos apartments in Scottsdale has sold to 2778 Loker, LLC for $1.7 million. The community is located at 1221 North 85th Place. The buyer was represented by Marc Huisken of Cassidy Turley BRE Commercial in Phoenix. The seller, a private real estate partnership, was represented by Brian Tranetzki and Rich Butler of Marcus & Millichap’s Phoenix office.
CHANDLER, ARIZ. – The Chandler Midway Corporate Center, a 139,803-square-foot office campus, has sold to ViaWest Group for $10.1 million. The center is located at 5710 W. Chandler, which is 70 percent occupied, and 5670 W. Chandler, which is vacant. The center resides in the City of Chandler. The campus includes the two Class A office buildings, as well as five office condominium buildings. The company plans to sell off the condo units. ViaWest was represented by Scott Baumgarten, Mark Stratz, and Tyler Wilson of Cassidy Turley. The seller, McMahon Development Group, was represented by CBRE’s Kevin Cosca and Pete Wentis.
SAN FRANCISCO — Firespotter Labs has signed a five-year lease for 12,600 square feet at the OpenTV building in San Fransisco. The building is located at 275 Sacramento. Firespotter was represented by CBRE’s Conor Famulener and Jeff Birnbaum.
SCOTTSDALE, ARIZ. – The 24-unit Los Porticos apartments in Scottsdale has sold to 2778 Loker, LLC for $1.7 million. The community is located at 1221 North 85th Place. The buyer was represented by Marc Huisken of Cassidy Turley BRE Commercial in Phoenix. The seller, a private real estate partnership, was represented by Brian Tranetzki and Rich Butler of Marcus & Millichap’s Phoenix office.