OAKLAND, CALIF. – Cerexa has expanded and extended its lease at 2100 Franklin in Oakland. The biopharmaceutical company has leased an additional 12,000 square feet on the building’s 8th floor. It now occupies the entire 8th and 9th floors of the nine-story tower, which resides within the Lake Merritt district. The building is owned by CIM Group.
Western
FLAGSTAFF, ARIZ. – The Woodlands Village Shopping Center in Flagstaff has signed four new leases. Café Rio and Miracle Ear hearing aids will be added to the tenant roster, while Maytag-Just-Like-Home-Laundry has found a new space at the center and Buffalo Wild Wings has expanded at the center. The shopping center is located at the southeast corner of McConnell Drive and Woodlands Boulevard. Mike Polachek of SRS Real Estate Partners serves as the leasing agent for Woodlands Village, which is owned by PDC Community Centers, LLC.
ONTARIO, CALIF. – The 736-unit Archstone Terracina in Ontario has sold to MG Properties for $95 million. The community was built in 1988 at 3303 South Archibald Ave. The seller, Archstone, was represented by Cushman & Wakefield’s Multifamily Advisory Group, which was led by Ed Rosen and John Chu.
DENVER – A pair of contiguous, Class A office buildings in Denver have received $74 million in refinancing. The buildings are located at 1400 Wewatta and 1401 Wynkoop in the city’s Lower Downtown Denver (LoDo) District. The Wewatta property contains a 202,000-square-foot office building with ground-floor retail. The Wynkoop property contains a 98,000-square-foot office building with ground-floor retail and residential condominiums on the top four floors. The condos were not included in the collateral. The properties are connected by a sky bridge. They also share a parking garage.Notable tenants at the properties include Chipotle Mexican Grill’s world headquarters, Kilpatrick, Townsend & Stockton, LLC, Dorsey & Whitney LLP, Milliman and George K. Baum & Company. HFF’s Eric Tupler, Josh Simon and Jake Young worked on behalf of the borrower, Wewatta and Wynkoop PT LLC, a GE Asset Management and Crestone Partners managed entity. The team secured a permanent loan through a national life insurance company correspondent lender.
COSTA MESA, CALIF. – The eight-property Westbay Portfolio in Costa Mesa has sold to multiple buyers for a total of $59.3 million. The portfolio contained a total of 295 units. It was sold by the Praedium Group and its local operating partner, Ocean West Capital Partners. The partners had acquired the portfolio in 2010. The final five assets were sold in December 2012.
ONTARIO, CALIF. – The 736-unit Archstone Terracina in Ontario has sold to MG Properties for $95 million. The community was built in 1988 at 3303 South Archibald Ave. The seller, Archstone, was represented by Cushman & Wakefield’s Multifamily Advisory Group, which was led by Ed Rosen and John Chu.
DENVER – A pair of contiguous, Class A office buildings in Denver have received $74 million in refinancing. The buildings are located at 1400 Wewatta and 1401 Wynkoop in the city’s Lower Downtown Denver (LoDo) District. The Wewatta property contains a 202,000-square-foot office building with ground-floor retail. The Wynkoop property contains a 98,000-square-foot office building with ground-floor retail and residential condominiums on the top four floors. The condos were not included in the collateral. The properties are connected by a sky bridge. They also share a parking garage. Notable tenants at the properties include Chipotle Mexican Grill’s world headquarters, Kilpatrick, Townsend & Stockton, LLC, Dorsey & Whitney LLP, Milliman and George K. Baum & Company. HFF’s Eric Tupler, Josh Simon and Jake Young worked on behalf of the borrower, Wewatta and Wynkoop PT LLC, a GE Asset Management and Crestone Partners managed entity. The team secured a permanent loan through a national life insurance company correspondent lender.
COSTA MESA, CALIF. – The eight-property Westbay Portfolio in Costa Mesa has sold to multiple buyers for a total of $59.3 million. The portfolio contained a total of 295 units. It was sold by the Praedium Group and its local operating partner, Ocean West Capital Partners. The partners had acquired the portfolio in 2010. The final five assets were sold in December 2012.
RANCHO CUCAMONGA, CALIF. — Ironwood and Fairway Palms, a 496-unit apartment community in Rancho Cucamonga, has sold to Western National Realty Advisors for $100.8 million. The Class A property consists of two adjacent apartment communities that will now be operated and managed as one by Western National Property Management.This will be the final acquisition under the company’s Western National Realty Fund II, L.P., which was its second private equity fund. The seller, JP Morgan, was represented by Mike Murphy of Moran and Company.
RIVERSIDE, CALIF. – A 6,160-square-foot, single-tenant property that is occupied by Chase Bank in Riverside has sold to a private Los Angeles investor for $5 million. The property is located at 10355 Magnolia Ave. The buyer was represented by George Y. Ragheb of Entrance Homes. The seller, 665 Claremont LP, was represented by William B. Asher, Kevin T. Fryman and Edward B. Hanley of Hanley Investment Group Real Estate Advisors.