SEATTLE — Trammell Crow Company (TCC) has re-opened its Seattle office. It will be led by Mike Nelson, Craig Dobbs and Mark Netherland, who will focus on office, industrial and retail development and investment opportunities throughout the Puget Sound area. All three join TCC as senior vice presidents. Tom Woodworth is also scheduled to join the team in April 2013. He will oversee all development and acquisition projects, new business pursuits, finance and office operations.
Western
LOS ANGELES — California Landmark Group (CLG) has announced its plan to develop the “LC,” an 85-unit apartment building with 3,000 square feet of ground-floor retail, in Los Angeles. CLG recently purchased the development’s 55,000-square-foot lot at the corner of Larchmont Boulevard and Melrose Avenue. Construction will begin in March 2013, and is scheduled for completion in January 2015. The LC is being designed by PK Architecture.
ORTING, WASH. – The Pioneer Village Shopping Center in Orting, a tertiary market about 40 miles south of Seattle, has received a $9-million loan. The 82,130-square-foot, Safeway-anchored center is 92 percent leased. The 20-year loan features a 20-year amortization period and an interest rate in the 4-percent range. It was provided by Mike Wood and Andrew Patterson of NBS Financial Services.
GLENDALE, ARIZ. – Construction has been completed on Sarah’s Place, a 24-unit seniors housing residence in Glendale. The 15,000-square-foot facility is located at 6670 W. Butler Drive. It resides within the Glencroft senior living campus. Glencroft, which operates under the leadership of The Friendship Retirement Corporation, a not-for-profit corporation sponsored by Mennonite Health Services,also owns Sarah’s Place. The new facility will provide specialized care for individuals suffering from memory loss. It was constructed by McShane Construction Company and designed by Orcutt | Winslow Partnership.
SEATTLE — Trammell Crow Company (TCC) has re-opened its Seattle office. It will be led by Mike Nelson, Craig Dobbs and Mark Netherland, who will focus on office, industrial and retail development and investment opportunities throughout the Puget Sound area. All three join TCC as senior vice presidents. Tom Woodworth is also scheduled to join the team in April 2013. He will oversee all development and acquisition projects, new business pursuits, finance and office operations.
SANTA CLARITA, CALIF. — The Center at Shangri-La, a 53,692-square-foot retail shopping center in Santa Clarita, has sold to an unnamed buyer for $10 million. It is located at 18635 Soledad Canyon Road. The center is 97 percent leased to 15 tenants on triple-net leases with fixed increases. Notable tenants include the Santa Clarita Public Library, Telesis Communication, Everest Charbroiled Burgers, IHOP, the Medicine Shoppe, Jersey Mike’s Subs, Domino’s Pizza and the Elite Fitness Compound. The library, which co-anchors the center, was not part of the sale. The seller, Shangri-La LLC, was represented by Gregory Mills of Marcus & Millichap’s Encino office.
ROSEVILLE, CALIF. — Sutter Health has signed a 10-year lease for 295,000 square feet of office space in Roseville where the healthcare operator plans to open an administrative service center. Additional services, such as finance, billing, human resources and other non-patient care functions, will also operate out of the new service center, which is located at 9100 Foothills Blvd. Sutter Health’s system offices will remain in Sacramento. The company was represented by Ron Thomas, Kevin Partington, Bruce Hohenhaus and Chris Schwarze of Cushman & Wakefield. The landlord, Quality Investment Properties, was represented by Dennis Shorrock and Bruce Wirt of Cornish & Carey Commercial Newmark Grubb Knight Frank.
NEWARK, CALIF. — CapRock Partners has purchased a 237,933-square-foot headquarters and manufacturing property in Newark for an undisclosed sum. CapRock came into possession of the asset after purchasing its non-performing note. The previous owner recently vacated the property, which is located at 39889 Eureka Drive. It contains 190,827 square feet of warehouse space, 41,600 square feet of offices, and 5,506 square feet of testing and repair space. CapRock plans to lease or sell the building to a single entity. CBRE’s Chip Sutherland and Greg DeLong are handling the building’s marketing efforts.
SANTA CLARITA, CALIF. — The Center at Shangri-La, a 53,692-square-foot retail shopping center in Santa Clarita, has sold to an unnamed buyer for $10 million. It is located at 18635 Soledad Canyon Road. The center is 97 percent leased to 15 tenants on triple-net leases with fixed increases. Notable tenants include the Santa Clarita Public Library, Telesis Communication, Everest Charbroiled Burgers, IHOP, the Medicine Shoppe, Jersey Mike’s Subs, Domino’s Pizza and the Elite Fitness Compound. The library, which co-anchors the center, was not part of the sale. The seller, Shangri-La LLC, was represented by Gregory Mills of Marcus & Millichap’s Encino office.
ROSEVILLE, CALIF. — Sutter Health has signed a 10-year lease for 295,000 square feet of office space in Roseville where the healthcare operator plans to open an administrative service center. Additional services, such as finance, billing, human resources and other non-patient care functions, will also operate out of the new service center, which is located at 9100 Foothills Blvd. Sutter Health’s system offices will remain in Sacramento. The company was represented by Ron Thomas, Kevin Partington, Bruce Hohenhaus and Chris Schwarze of Cushman & Wakefield. The landlord, Quality Investment Properties, was represented by Dennis Shorrock and Bruce Wirt of Cornish & Carey Commercial Newmark Grubb Knight Frank.