CERRITOS, CALIF. — A 105,680-square-foot industrial property in Cerritos has sold to Nima Accessories for $7 million. The property is located at 16804-16808 Gridley Place. Jim Halferty and James Kinetz of Lee & Associates’ Los Angeles-Central office represented the buyer. Colliers International represented the seller, L-W Income Properties, in this transaction.
Western
TEMECULA, CALIF. – A 102,566-square-foot industrial building in Temecula has sold to JLNI, LLC and KPN Industrial, LLC for $3.8 million. The buyers subsequently leased the building to Crossroads Church, Inc. and Reliant Food Service. The 60-month lease term is valued at $1.3 million. Andy Melzer of Cassidy Turley BRE Commercial represented JLNI, LLC and KPN Industrial, LLC in both the sale and lease transactions, along with Kerry Schimpf. The seller, U.S. Bank National Association, was represented by Charley Black of Lee & Associates. Rick Gilliam and Jon Stevenson of High Tower Capital, Inc. represented the lessees in the lease transaction.
PEORIA, ARIZ. — Thunderbird Commons, a four-building, 54,872-square-foot medical and retail property in Peoria, has sold to Second City Capital Partners for $7,650,000. The complex also contains two pads totaling about 2.6 acres. Second City plans to extensively renovate the complex and rename it Thunderbird Wellness Centre. The firm was represented by Bob Broyles and Bill Saul of Colliers International in Phoenix. The seller was Thunderbird Commons Holdings I, LLC. Financing was arranged through Brandon Harrington of Cohen Financial.
LOS ANGELES – A multifamily portfolio that contained 60 units in two Los Angeles-area apartment complexes sold to a private investor for $2.8 million. The properties are located at 414 Witmer and 457-461 Witmer Street in Los Angeles’ Westlake District. The 9,196-square-foot building contains 20 units, while the 15,368-square-foot building contains 40 units. Lane Schwartz and Thomas Jonsson of Marcus & Millichap’s West Los Angeles office represented both the buyer and the seller, also a private investor.
SAN DIEGO – A 13-unit apartment complex in the San Diego submarket of Mission Beach has sold to Sefer Tahiraj for $2.3 million. The 5,358-square-foot property is located at 3414 Mission Blvd. The buyer was represented by Terry Taylor of Apartment Consultants, Inc. The seller, David N. Catton, was represented by Joe Ramos of South Coast Commercial.
LOS ANGELES — MARCH Vision Care has signed a 17,000-square-foot lease expansion at 6601 Center Drive in Los Angeles. The Class A office building is part of the Howard Hughes Center. The vision care management services provider will continue to occupy 10,000 square feet at neighboring 6701 Center Drive. It will occupy the second floor of its newest building by February. MARCH Vision Care was represented by Brian Davies and Dave Toomey of Cresa Los Angeles. The building’s landlord, Equity Office Properties, was represented by Rick Buckley and Beau Rawi of LA Realty Partners.
LOS ANGELES — Two law firms have leased a total of 14,800 square feet at Los Angeles’ Wilshire Bundy Plaza. Rogan and Lehrman, LLP and Trope & Decarolis have both leased space on the 13th floor of this 14-story building. The consideration for these five-year leases is just less than $3 million. The landlord, Douglas Emmett Company, was represented by Mitchell Stokes of Madison Partners in these transactions.
LOS ANGELES – The 30-unit Chateau Normandie has sold to Safco Capital Corp. for $1,775,000. The apartment complex is located at 756 South Normandie Ave. The seller was J & B Asset Management/Normandie Apartments LLC. The transaction was negotiated by Brent Sprenkle of Hendricks & Partners’ West Los Angeles office.
TEMPE, ARIZ. – The retail portion of the three-building Crossroads of Tempe development has sold to a single-asset entity of Westwood Financial Corp. for $1.3 million. The sellers, a joint venture between ViaWest Group and Southwest Value Partners, originally purchased the three assets in July 2011 for $4,055,000. The just-sold retail portion contains a 15,460-square-foot retail center located at 7707 S. Kyrene Road. It was built in 2006 and is currently 54 percent leased. The center also contains two adjacent Class A office buildings totaling 96,600 square feet. The joint venture was represented by Grubb & Ellis in this sale.
SCOTTSDALE, ARIZ. — Westport Capital Partners LLC has purchased Scottsdale Financial Center II in Scottsdale for an undisclosed sum. The Class A, 150,000-square-foot office building is located at 4141 N. Scottsdale Road. The center is currently 71 percent leased to Coventry Health Care. Jones Lang LaSalle’s Jim Sadler, Dennis Desmond and Brian Ackerman represented the seller. JLL’s Harry Klaff also represented Coventry, the building’s primary tenant, in the lease transaction.