KENT VALLEY, WASH. — Kent Warehouse and Labeling has leased 240,000 square feet of warehouse space in the Northwest Corporate Park in Kent Valley. The Northwest Corporate Park consists of 19 buildings totaling 2.76 million square feet. The business park’s landlord, Principal Real Estate Investors, was represented by Matt Wood, Thad Mallory and Tony Miltenberger of Kidder Mathews.
Western
LAS VEGAS – A 48,172-square-foot retail center located at the southeast corner of Desert Inn Road and Pecos-McLeod Drive in Las Vegas has sold to Desert Inn-Pecos Plaza, LLC for $1,825,000. The center is anchored by a Family Dollar store, and is currently 45 percent leased. Nicholas Barber, Jason Brooks and Jeremy Foley of Gatski Commercial represented both the buyer and the seller, 3025 E. Desert Inn Holdings, LLC, in this transaction.
CORONA, CALIF. — TNT Plastics has signed a six-year lease at a 116,000-square-foot industrial building in Corona. The transaction’s total consideration is more than $2.4 million. The lease will commence in February 2012. It includes 13,000 square feet of office space. Cushman & Wakefield’s Rick Ellison and Randy Ellison represented the tenant. Chris Migliori of DAUM’s Orange County office represented thelandlord, ACIP, LLC, in this transaction.
SAN DIEGO — An 8,748-square-foot industrial propertyin San Diego has sold to Salma Jason Monica Limited Partnership for $1,335,000. The facility has recently undergone more than $500,000 in improvements. It will serve as a medical R&D facility for its new owner-user. Voit’s Todd Holley and Ellen Thomas represented the buyer. Randy LaChance and Jon Danton, also of Voit, represented the seller, Ole and Bente Sorensen.
MESA, ARIZ. – The 576-unit Aventerra at Dobson Ranch in Mesa has sold to Summit Aventerra LLC, an affiliated company of Summit Equity Investments Inc., for $29.1 million. The complex was built in 1980 and is currently 87 percent occupied. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Peter Stevens represented the seller, LNR Partners LLC, which acted as the special servicer after it retained the title to the property following a September 2010 foreclosure.
CONCORD, CALIF. — WestcoreProperties has purchased the Concord Corporate Centre in Concord for an undisclosed sum. The Class A office campus contains 346,747 square feet located at 1320 and 1390 Willow Pass Road in Concord. The facility was originally built in 1984 and renovated in 2002. Westcore was represented by Ryan Huddlestun and Jim Blessing of Waveland Financial. Tom Fehr of Cornish and Carey Commercial will continue to be responsible for leasing at the property.
LOUISVILLE, COLO. – The 46-unit Balfour Cherrywood Village Memory Care facility in Louisville has received one of the nation’s first Fannie Mae DUS ARM 7-6 loans for $5,620,700. The non-recourse loan was provided to Balfour Senior Living by Red Mortgage Capital.
LOS ANGELES – The 95-room Holiday Inn Express Los Angeles Downtown West has reopened after undergoing a $1.25-million renovation. The renovation, which was undertaken after InterContinental Hotels Group converted the property from a Ramada Limited hotel,included upgrades to the guest rooms and exteriors. It is part of the new $1-billion Holiday Inn relaunch that IHG announced in 2007.
PHOENIX — Pacifica Real Estate Group LLC has purchased a 108,287-square-foot distribution building in Phoenix for $6.25 million. The building was constructed in 1994 and is fully leased to Tharco. Joe Porter, Pat Feeney, Dan Calihan and Rusty Kennedy of CBRE’s Phoenix office, and Scott Schumacher and Kevin Shannon from the firm’s Torrance, Calif., office represented the seller, The Realty Associates Fund VI LP.
COLTON, CALIF. — Best Drilling and Pump has purchased 9.8 acres of industrial land in Colton for $2,338,934. The drilling and testing company plans to occupy about 5.3 acres of the land after it relocates from its current location in Bloomington, Calif. NAI Capital, which represented both the buyer and the seller, SRC Pellisier, has been retained to lease the remaining 4.5 acres. Teresia Knight of the firm’s Ontario, Calif., office worked directly with the parties on this transaction.