SAN DIEGO — IDS Realty JV II has purchased a 411,245-square-foot industrial/warehouse building in the Kearny Mesa submarket of San Diego for an undisclosed sum. The multi-tenant building is currently 85 percent leased. IDS was represented by IDS Real Estate Group in this transaction. CBRE’s Jack Fraker, Darla Longo, Barbara Emmons, Louay Alsadek, Rob Merkin and Brent Wright represented the seller, who was not named.
Western
SAN DIEGO – The 18-unit Hamilton Apartments in the University Heights neighborhood of San Diego has sold to Beachfront II LP for $2,225,000. The complex was built in 1968 and is currently 100 percent leased. Beachfront was represented by ACI’s Dennis Leslie. The seller, Inter Vivos Trust, was represented by Dave Savage, also of ACI.
NEWPORT BEACH, CALIF. — Beech Street Capital has secured $12.54 million to refinance two apartment complexes in Southern California. This includes the 88-unit Normandy Park apartment complex and the 65-unit Casa La Habra Apartments. Both complexes were built in the early ‘60s, and both are more than 95 percent occupied. The Fannie Mae conventional loans have 10-year terms, fixed rates and a 30-year amortization schedule. Financing was secured by Greg Reed and Kristen Croxton, who recently opened Beech Street’s Newport Beach office.
UPLAND, CALIF. — Grandbridge Real Estate Capital has secured a $10.2-million first-mortgage loan for a Kohl’s Department Store in Upland. Kohl’s occupies a76,212-square-foot, single-tenant retail store that was built in 1978 and renovated in 2009. The self-amortizingloan features a 17-year term and a fixed rate that is below 5 percent. Financing was arranged by Grandbridge’s vice president Mikko Erkamaa through American United Life Insurance Company. He was assisted by senior real estate analyst Dean Huber.
HOLLYWOOD HILLS, CALIF. — A 1.17-acre Hollywood Hills residential development site that is located at 7926-40 W. Hollywood Blvd. has sold to CLG Cinnamon Creek for $7.2 million. This is an R-3 zoned, unentitled site at the base of the Hollywood Hills. The seller was GTO Regency. The sale was negotiated by Lynwood Fields and Darin Beebower of Madison Partners.
SAN CARLOS, CALIF. – Game developer Kabam has leased 57,000 square feet at the Class A Skyway Landing office campus in San Carlos. The company plans to relocate from the 40,000-square-foot facility it currently occupies in Redwood City, Calif. Kabam was represented by Elizabeth Hart and Jon Mackey of Cornish & Carey Newmark Knight Frank. Kristoph Lodge, Jack Troedson and Graham Woodall, also of Cornish & Carey, represented the landlord, Equity Office, in this transaction.
LOS ANGELES — Colliers International has sold a 15,978-square-foot property along Los Angeles’ famed Melrose Avenue to Fresh & Easy for an undisclosed sum. The space was built in 1997 and resides along the Hollywood/Melrose retail corridor. Fresh & Easy was represented by Mike Grannis and Brent Cunningham of Highland Partners. The seller was represented by Fred Córdova, Tom Lagos, Morgan McEvoy, Frank Magana and Ryan Eddy of Colliers’ Downtown Los Angeles office, along with Mike Fay, who is the president of Colliers’ Miami office.
COLORADO SPRINGS, COLO. – The 112-unit South Circle Apartments in Colorado Springs has sold to Sequoia Property Partners for $5.4 million. The community has undergone extensive renovations over the past five years. ARA Colorado’s Kevin McKenna and Ken Greene represented the seller, Xebec Realty Partners, in this transaction.
SAN DIEGO — Jones Lang LaSalle’s landlord leasing group has executed two office leases in San Diego totaling 38,307 square feet. The first was for VantagePoint Laboratory Partners, which leased 13,766 square feet of laboratory space at Sorrento Canyon Tech Center in the Sorrento Mesa submarket. The 60–month lease is valued at $1.34 million. VantagePoint was represented by David Marino and Shane Poppen of Hughes Marino. Sorrento Canyon’s landlord, Embarcadero Capital, was represented by JLL’s Chad Urie, Ryan Grove and Grant Schoneman. The second lease was for Chart Sequal Technologies, which leased 24,541 square feet of office space at the Pulse Building in the Carmel Mountain Ranch submarket. The 88-month lease is valued at $2,219,000 million. Chart Sequel was represented by Studley’s Ron Magnaghi and Bryan Geisbauer. Pulse’s landlord, World Trade Partners, LLC, was represented by JLL’s Jay Alexander and Ryan Grove.
DENVER – The West Washington Park Portfolio, which consists of 46 apartment units and one retail unit located in four separate buildings throughout Denver, has sold to a local private investor for $3,854,000. The portfolio included 13 units and one retail unit located at 700 East 1stAve.; 12 units at 66 Clarkson Street; 11 units at 65 Ogden Street; and 11 units at 59 Ogden Street. ARA Denver’s Terrance Hunt and Shane Ozment represented the seller, a local private investor, in this transaction.