HUNTINGTON BEACH, CALIF. – A 64-unit apartment complex in Huntington Beach has sold to MHE Properties for $12,730,000. The complex underwent a full renovation in 2004 and is 100 percent occupied. Pat Swanson of Colliers International’s Irvine, Calif., office represented both the buyer and the seller, The Von Gremp Family.
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GOLETA, CALIF. — Lockheed Martin Corporation has renewed its lease for 84,181 square feet at the Santa Barbara Business Park in Goleta. The five-year lease includes two 42,000-square-foot, Class A buildings at 336 and 346 Bollay Drive. The space will be occupied by Santa Barbara Focalplane, a Lockheed Martin Missiles and Fire Control business. The Towbes Group represented the landlord in this transaction.
BROOMFIELD, COLO. – A parcel of land located at Venue at Arista in Broomfield has sold to Arista Investors Colo. II/ Arcadia Holdings from SA Group Properties for $2,547,500. Mike Kboudi and TJ Johnson of Cassidy Turley Fuller Real Estate represented the buyer.
MESA, ARIZ. – The 120-unit Sycamore Square Apartments in Mesa has sold to RND6, LLC from Orion Pacific Note Investors, LLC for $6,250,000. The complex was built in 1979 and is more than 90 percent leased. Alon Shnitzer of Marcus & Millichap’s Phoenix office was the transacting broker.
SAN DIEGO — San Diego Miramar College has recently completed its 270,000-square-foot, 828-space parking structure and its 5,108-square-foot police substation. The substation is hoping to receive LEED-Platinum certification. If it does, Miramar College will be the first of San Diego’s higher education institutions to achieve this fete. The $17.9-million project was built by McCarthy Building Companies.
PHOENIX — Jones Lang LaSalle’s Capital Markets group has hired John Cunningham to establish and grow the firm’s multifamily investment sales practice in Phoenix and the surrounding region. Cunningham will serve as executive vice president. The firm noted this is the latest move in a company-wide strategy to grow its multifamily expertise in core markets as they track their recoveries.
SAN FRANCISCO — Cassidy Turley’s Net Leased Investment Services group has sold an eight-property portfolio in Northern California to a family estate. All eight properties, which total 82,200 square feet, are fully leased on a triple-net basis to Bank of America. The sales price was undisclosed. Three of the properties are located in San Francisco, while the remaining five reside in Berkeley, El Cerrito, Alameda, Milpitas and Roseville. Cassidy Turley’s Andy Bogardus, Doug Longyear and Chris Sheldon represented the seller, a San Francisco-based owner, in this transaction.
LOS ANGELES — Cushman & Wakefield has named Glenn R. Rudy as director of the firm’s Southwest Retail Capital Markets Group. Rudy will be based out of Downtown Los Angeles. He will be responsible for retail investment activities in the Greater Los Angeles area.
NEWPORT BEACH, CALIF. — RiverRock Real Estate Group has been selected by Red Mountain Retail Group to manage nearly three million square feet of its retail properties throughout California and Arizona. Stacey Monroe of RiverRock’s Newport Beach, Calif., headquarters will act as Red Mountain’s portfolio manager.
TUSTIN, CALIF. – A 54,000-square-foot industrial facility at 15601 Mosher Ave. in Tustin has sold to an unnamed buyer for $5,770,000. The buyer was represented by Peter Sowa of Cushman & Wakefield. The seller, Mosher Industrial, LLC, was represented by Dave Desper and Nick Spatafore of CBRE’s Newport Beach, Calif., office.