RIVERSIDE, CALIF. – A pair of distribution buildings in Riverside have received a forward commitment of $17.7 million. The properties contain a total of 850,000 square feet spread out among four tenants. The funding was arranged by Carl Fuller of the Alison Company through a correspondent life insurance company. The seven-month forward commitment is for a 10-year loan with a 25-year amortization period.
Western
SONORA, CALIF. – Downtown Sonora Plaza, a 40,600-square-foot shopping center, has sold to Dwares Group for a little more than $3 million. The center is currently 94 percent leased. Notable tenants include anchor Save Mart, along with a regional pharmacy and community bank. Dwares plans to renovate the property. The company was represented by Patrick Follett and Jon Gianulias of Core Commercial. Follett also represented the unnamed seller.
LOS ANGELES – Ultimate Off Price has signed a 10-year lease for 41,328 square feet in Downtown Los Angeles. The space is located at 1615 E. 15th Street in the city’s garment district. The lease, which will commence in January 2013, is valued at $3.56 million. Ultimate Off Price was represented by Jerry Sackler of Daum Commercial’s Downtown office. The landlord, Western States Technologies, was represented by Jeff Thompson of the same office.
SALT LAKE CITY — The Sun Products Corporation has signed a lease for 1 million square feet of space at Freeport West Landmark Industrial Park in Salt Lake City. This is the largest lease signed so far in Utah in 2012. Sun Products will be consolidating six of its warehouses into two main distribution centers. Sun was represented by Zach Anderson, Bryce Blanchard, Kyle Roberts and Mike Falk of NAI West. Freeport West was represented in-house by Brad Ross.
WESTMINSTER, COLO. – The 228-unit Park Place apartments in Westminster has sold to the Bascom Group for $16.6 million. Financing for the purchase was arranged by HFF’s Charles Halladay, Josh Simon, Jake Young and Anthony Ansevin. The property will be managed by Apartment Management Consultants. Bascom was represented in-house by Scott McClave and Paul Miszkowicz.
CHINO, CALIF. – A 65,837-square-foot industrial property in Chino has sold to SBC Enterprise LLC for $5.2 million. It is located at 13900 Sycamore Way. SBC was represented by Richard Schwartz, Brad Yates and Stefan Pastor of Colliers International. The seller, Feldhron Trust, was represented by Mark Kegans of Grubb Newmark Knight Frank.
BRENTWOOD, CALIF. –The Streets of Brentwood, a 305,428-square-foot lifestyle center in the West Los Angeles submarket of Brentwood, has sold to a partnership between DRA Advisors and RED Legacy for $72.1 million. It is located at 2565 Sand Creek Road. The acquisition also included a parcel of land approved for Phase II development and 110,000 square feet of additional retail space. Notable tenants at the center include REI, Banana Republic, DSW, Ulta Cosmetics, Ann Taylor and Jos. A. Bank. It is anchored by a 14-screen Rave Theater. Alfred Hackbarth of SRS Real Estate Partners represented both the buyer and the seller, Brentwood Specialty Center, LLC, in this transaction.
SALT LAKE CITY — The Sun Products Corporation has signed a lease for 1 million square feet of space at Freeport West Landmark Industrial Park in Salt Lake City. This is the largest lease signed so far in Utah in 2012. Sun Products will be consolidating six of its warehouses into two main distribution centers. Sun was represented by Zach Anderson, Bryce Blanchard, Kyle Roberts and Mike Falk of NAI West. Freeport West was represented in-house by Brad Ross.
WESTMINSTER, COLO. – The 228-unit Park Place apartments in Westminster has sold to the Bascom Group for $16.6 million. Financing for the purchase was arranged by HFF’s Charles Halladay, Josh Simon, Jake Young and Anthony Ansevin. The property will be managed by Apartment Management Consultants. Bascom was represented in-house by Scott McClave and Paul Miszkowicz.
CHINO, CALIF. – A 65,837-square-foot industrial property in Chino has sold to SBC Enterprise LLC for $5.2 million. It is located at 13900 Sycamore Way. SBC was represented by Richard Schwartz, Brad Yates and Stefan Pastor of Colliers International. The seller, Feldhron Trust, was represented by Mark Kegans of Grubb Newmark Knight Frank.