HUNTINGTON BEACH, CALIF. — A new 34,000-square-foot Nordstrom Rack is set to open at Edinger Plaza in Huntington Beach. The store is scheduled to open in fall 2012. Edinger Plaza’s other anchor tenants include Dick’s Sporting Goods, Michaels and PetSmart. The plaza is managed and leased by Watt Companies.
Western
INGLEWOOD, CALIF. — Luxury home furnishings manufacturer J. Robert Scott has signed a 78-month lease extension for a 76,675-square-foot industrial facility in Inglewood. The facility, which is located at 500 N. Oak Street within the Airport Business Park, will serve as the corporate headquarters for his company’s operations. The lease is valued at $4.3 million. Scott was represented by Doug Marshall of Klabin/CORFAC’s Los Angeles office. The landlord, Roxbury Property Management, was represented by F. Ronald Rader, also in the firm’s Los Angeles office.
RENO, NEV. – The 80-unit El Chaparral Apartments has sold for $3,250,000, or $40,625 per unit. The bank-owned community is located near Downtown Reno and the University of Nevada, Reno. It contains 54,800 square feet of rentable space. Scott MacDonald and Ric Russell with Cassidy Turley’s Multi-Family Group represented the seller.
PLEASANTON, CALIF. — Axis Community Health has purchased 5925 W. Las Positas Blvd., a 24,188-square-foot office flex building in Pleasanton. The building was previously occupied by DirectBuy.com. This purchase represents an expansion for Axis, which is relocating their health center and headquarters from its current location on nearby Railroad Avenue. Mark Triska of Colliers International represented Axis. Anton Qui with TRI Commercial represented the seller, Cathay Bank.
MURRIETA, CALIF. – The 60,390-square-foot Margarita Center in Murrieta has sold to Mon Mon, LLC for $8.5 million. Mon Mon plans to lease the center’s remaining vacant space. The company was represented by Todd Holley in Voit’s San Diego office. CBRE’s John Read, Patrick Toomey and Phillip Voorhees represented the seller, MS Kearny CPB 3 LLC.
BELLEVUE, WASH. – The Avalon Meydenbauer Shopping Center in Bellevue has received $6.8 million in financing. The mixed-use development was built in 2007 and contains a North Building and a South Building. The North Building features 9,601 square feet of retail, while the South Building boasts 9,837 square feet of retail for a total of 19,438 square feet. The center also features a 55,000-square-foot Safeway and five levels of apartments atop the retail. Neither was included in this collateral. Financing was arranged by John M. Stewart and Brock Yaffe out of NorthMarq’s Denver office for the California-based borrower.
SAN BERNARDINO, CALIF. — Grant & Bowman have signed a 36-month lease for a 141,200-square-foot industrial space at 1050 Orange Show Road in San Bernardino. The company was previously located in nearby Ontario. It was represented by Jeff Smith of Lee & Associates’ Ontario office. The landlord, Investment Building Group, was represented by Herrick Johnson of Lee & Associates’ Riverside office.
PETALUMA, CALIF. – Safeway has opened a new 63,467-square-foot lifestyle store at a former Mervyns location within the Washington Square Shopping Center in Petaluma. The team of Mark Koenig, John Schaefer, Dan Wald, James Chung, Patrick McGaughey and Sam Finne of Terranomics Retail Services represented Macerich, which owns the former Mervyns space, in this transaction.
PHOENIX — Colliers International of Greater Phoenix has sold the 26-unit Metro 1 Townhomes and 64-unit Casa Nueva apartment community in two separate transactions for a combined total of $5,475,000. Metro 1 sold to Calista Real Estate, LLC for $3,375,000 from IMH. The transaction included 22 units that were acquired as fee simple and three units acquired by notes secured by the individual units. Casa Nueva was sold to California Capital Real Estate Advisors for $2.1 million from ATC Realty One, LLC. Colliers’ Bill Hahn, Jeffrey Sherman and Trevor Koskovich represented the buyers and the sellers of both transactions.
VANCOUVER, WASH. — Watumull Properties Corp. has purchased a 61,350-square-foot light industrial building in Vancouver for $3,150,000. Watumull was represented by Greg Nesting of Norris and Stevens. Brian Sullivan of Coldwell Banker Bain Commercial represented the seller, Dekas, LLC. Norris and Stevens will manage the property.