SANTA BARBARA, CALIF. — A 47,411-square-foot industrial property at 25 E. Mason Street in Santa Barbara has sold to East Mason SB, LLC for $9 million. The building is currently 67 percent occupied by Brooks Institute of Photography. Clarice Clarke and Stephen Leider of Lee & Associates’ Santa Barabara office represented both the buyer and the sellers, Rossi Trading Company, LLC. and Scanlin Family Trust, in this transaction.
Western
PHOENIX — Aon Corporation and Apogee Physicians have both signed leases at Camelback Esplanade in Phoenix. Aon has leased 10,800 square feet, while Apogee is expanding its presence to about 15,400 square feet at the mixed-use project. It had previously occupied 10,843 square feet. Both tenants were represented by Vince Femiano of Transwestern. The Esplanade’s landlord, MetLife, was represented by Jerry Jacobs, Larry Downey and Michael Crystal of Cushman & Wakefield of Arizona.
WESTLAKE VILLAGE, CALIF. — Klein Friedlander LLP has opened a new firm in Westlake Village. The firm will focus on business, labor and employment and real estate-related litigation matters. It was established by Louis Klein and Dan Friedlander, formerly of Jackson DeMarco Tidus and Peckenpaugh P.C. The office is located at 2815 Townsgate Road, Suite 200.
CLAREMONT, CALIF. — A 69,428-square-foot, six-building industrial park in Claremont has sold to a private investor for $8,775,000. The business park was built in 1988 and is composed of five single-tenant buildings and one multi-tenant building. It was fully leased at the time of sale. The seller, Claremont Business Park, LLC, was represented by Grubb & Ellis’ Robert Griffith and Steven Ward.
GLENDALE, ARIZ. – The 86,225-square-foot Olive Square retail center in Glendale has sold to North American Realty Acquisition Corporation for $6.3 million. The center was built in 1974 and renovated in 2007. It is currently 92 percent leased. The seller, Westwood Financial Corp., was represented by Jan Fincham and Patrick Dempsey of Lee & Associates.
SAN RAFAEL, CALIF. — BioMarin Pharmaceuticals has leased 120,338 square feet at the San Rafael Corporate Center. The company will utilize an entire 83,315-square-foot building located at 770 Lindaro Street, in addition to 37,023 square feet on the second and fourth floors of 790 Lindaro Street. BioMarin plans to occupy this space in the spring. The firm was represented by Mark Maguire, Phil Arnautou and Luke Wilson of Colliers International. Trevor Buck and Steve Leonard of Cassidy Turley represented the landlord, Seagate Properties, in this transaction.
BURIEN, WASH. – Navos Mental Health Solutions has received $8 million in New Markets Tax Credit (NMTC) financing for the completion of a 52,400-square-foot Behavioral Health Care Campus in Burien. The financing was provided by WNC & Associates. The facility will be developed by Navos, designed by DKA Architecture and built by Abbott Construction. It is anticipating a fall 2012 opening. The NMTC is a federal program that was created to support economic and community development in low-income communities.
HILLCREST, CALIF. – The ground-floor retail space that is attached to the Atlas Condos mixed-use property in Hillcrest has sold to Hamon Properties, LLC for $2.4 million. Atlas Condos was built in 2009 and contains 140 units atop 5,348 square feet of retail. The four-unit retail space is fully leased to Pappalecco’s Gelato Café, Osteria Origano Italian Restaurant, Beauty By Dolly salon and Pure Barre fitness studio. Hamon was represented by Bill Shrader of Cushman & Wakefield. Chris Rink and Randee Stratton of Cassidy Turley BRE Commercial represented the seller, Western Pacific Housing, Inc/D.R. Horton, which was the original developer.
LA PALMA, CALIF. — Travelers Club Luggage has signed a 63-month lease for 131,280 square feet at an industrial building in La Palma. The new lease will take the building, which is owned by DEXUS Property Group, to 100 percent occupancy. Kent Choi of NAI Capital represented Travelers Club Luggage. Peter Castleton, Cameron Driscoll and Luke McDaniel of Voit Real Estate Services represented DEXUS in this transaction.
PALM SPRINGS, CALIF. — Lucent Capital has arranged $11.5 million in first-mortgage debt cross-collateralized by two Class A retail centers in Palm Springs. Both centers are owned by Wessman Development. They include the 42,434-square-foot Plaza Mercado and the 34,010-square-foot Plaza las Flores. The loan features a 10-year term and a 5.35 percent fixed interest rate.