FREMONT, CALIF. — Seagate Technology has announced plans to build a $180-million research and development complex at the former 411,618-square-foot Solyndra plant in Fremont. The company purchased the Class A facility in February for $90.2 million after Solyndra filed for bankruptcy. The building is located at 47488 Kato Road. The disk drive company plans to occupy the facility. Seagate was represented by Donald Reimann, Sean Toomey and Gregg Von Thaden of Colliers International. Solyndra was represented by Bart Lammersen, Greg Matter and Jason Ovadia of Jones Lang LaSalle in the all-cash sale.
Western
PHOENIX – A two-property multifamily portfolio in the Metro Phoenix area has sold to a company formed by Bascom Arizona Ventures LLC for an undisclosed sum. The properties include the 396-unit Country Brook at 4909 West Joshua Blvd. in Chandler and the 379-unit Little Cottonwoods at 1820 East Bell De Mar Drive in Tempe. The seller, a publicly traded REIT, was represented by Steve Gebing and Cliff David of Marcus & Millichap’s Phoenix office.
WILSONVILLE, ORE. — Rite Aid has renewed its lease for 516,693 square feet at the Wilsonville Distribution Center. The center is located at 29555 SW Boones Ferry Road just south of Portland. The drugstore utilizes this facility as its Pacific Northwest regional distribution center.Rite Aid was represented by Tyler SheilsandTodd Hughesof Jones Lang LaSalle. The center is owned by GE Capital.
LAS VEGAS – The Genting Group has purchased the 87-acre Echelon development site on the Las Vegas Strip for $350 million. The company plans to build a $2-billion hotel-casino complex called Resorts World Las Vegas. Construction is scheduled to begin on the first phase in 2014. It will include a 3,500- room hotel and a 175,000-square-foot casino. The resort is scheduled to open in 2016. The Echelon site was sold by Boyd Gaming, which halted construction on its $4.8-billion project in August. 2008. It would have contained five hotels and a 140,000-square-foot casino.
FREMONT, CALIF. — Seagate Technology has announced plans to build a $180-million research and development complex at the former 411,618-square-foot Solyndra plant in Fremont. The company purchased the Class A facility in February for $90.2 million after Solyndra filed for bankruptcy. The building is located at 47488 Kato Road. The disk drive company plans to occupy the facility. Seagate was represented by Donald Reimann, Sean Toomey and Gregg Von Thaden of Colliers International. Solyndra was represented by Bart Lammersen, Greg Matter and Jason Ovadia of Jones Lang LaSalle in the all-cash sale.
PHOENIX – A two-property multifamily portfolio in the Metro Phoenix area has sold to a company formed by Bascom Arizona Ventures LLC for an undisclosed sum. The properties include the 396-unit Country Brook at 4909 West Joshua Blvd. in Chandler and the 379-unit Little Cottonwoods at 1820 East Bell De Mar Drive in Tempe. The seller, a publicly traded REIT, was represented by Steve Gebing and Cliff David of Marcus & Millichap’s Phoenix office.
WILSONVILLE, ORE. — Rite Aid has renewed its lease for 516,693 square feet at the Wilsonville Distribution Center. The center is located at 29555 SW Boones Ferry Road just south of Portland. The drugstore utilizes this facility as its Pacific Northwest regional distribution center.Rite Aid was represented by Tyler Sheils and Todd Hughes of Jones Lang LaSalle. The center is owned by GE Capital.
PHOENIX – An 82,742-square-foot building inside the master-planned Cotton Center industrial park in Phoenix has sold to Wells Family Partnership for $9 million. The building is located at 5150 S. 48th Street. The buyer was represented by Scott Smith and Rick Robertson of Lee & Associates Arizona. The seller, JFBB Enterprises, was represented by Steven Schnitzer of Steven J. Schnitzer, LTD.
FONTANA, CALIF. – A 29,398-square-foot retail property in Fontana that is occupied by Family Dollar and Harbor Freight Tools has sold to a private investor for $4 million. It is located at 8933 Sierra Ave. Alvin Mansour of The Mansour Group of Marcus & Millichap Real Estate Investment Services represented both the buyer and the seller, a developer, in this transaction.
SAN DIEGO — The 34-unit Autumn Ridge Villas in the San Diego submarket of El Cajon has sold to DCC Peach Avenue, LLC for $3.2 million. It is located at 1019 Peach Ave. DCC was represented by Eric Comer, Jim Neil and Merrick Matricardi of CBRE San Diego. The seller, Betty T. Ma, represented itself in this transaction.