PALMDALE, CALIF. – A 15,250-square-foot retail strip center in Palmdale has sold to a family trust from Los Angeles for $5.95 million. The fully occupied center is located at 39450 10th Street West. Notable tenants include Shakey’s Pizza, Sally’s Beauty, Game Stop, and Panda Express. The buyer was represented by Russ Chen of Charles Dunn. The seller, O&S Holdings, was represented by Chris Maling and David Maling of Colliers International.
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SANTA MONICA, CALIF. — IMAX Corp. has signed a lease renewal for the 65,000-square-foot Lantana IMAX Building within the Lantana Entertainment and Media Campus in Santa Monica. The space, which has served as IMAX’s West Coast headquarters since 2000, is located at 2900 Exposition Blvd. The landlord, the Lionstone Group, was represented by Jim Jacobsen and Scott Rigsby of Industry Partners.
TORRANCE, CALIF. — Genexus International has leased 25,365 square feet of light industrial space in the master-planned Pacific Gateway Industrial Park in Torrance. The new facility is located at 1214 Jon Street. The company will be relocating from nearby Inglewood. The new 10-year lease was valued at $1.28 million. Genexus plans to use this new headquarter space for administration, design and distribution. The company was represented by Mark Berman of LesMark. The landlord, Airport Plaza, Inc., was represented by Courtney Bell and Matt Stringfellow in The Klabin Company/CORFAC’s Torrance office.
CARMEL, CALIF. — O'Connor Capital Partners and Wafra Investment Advisory Group have created a joint venture called O’Connor/Wafra Retail Partners to acquire Carmel Plaza, a 111,781-square-foot luxury lifestyle center in Carmel. Purchase price was not disclosed. Notable tenants at the center include Tiffany & Co., Louis Vuitton, Bottega Venetta, J.Crew and Anthropologie.
REDMOND, WASH. — Elan Town Center, a new 134-unit apartment community, has broken ground in Redmond. The community, which will also feature 7,735 square feet of ground-floor retail, restaurants and convenience shops, will be located at 16355 Cleveland Street. It should be completed in spring 2013 and will seek LEED-Silver certification. Elan Town Center is being developed by Resmark Apartment Living, a division of The Resmark Companies, in a joint venture with Greystar. The community will be designed by Weber Thompson and built by Compass Construction.
FREMONT, CALIF. — Warm Springs Constructors, Inc., a Kiewit Infrastructure West Co. joint venture, has signed two leases totaling 42,768 square feet in Fremont. The first lease is for 28,800 square feet of industrial space at 45401 Research Ave. The second includes 13,968 square feet of office space at the nearby 47212 Mission Falls Court. The buildings are respectively owned by Workspace, LLC and East Warren Park, LLC. Warm Springs Constructors was represented by Walter Stephenson, Mitchell Hertz, Matt Bracco, Christopher Burns, Joshua Nelson and Glen Dowling of Cushman & Wakefield in both transactions.
LAS VEGAS — Jayne Cayton and Paula Lea have joined VoitReal Estate Services’ Las Vegas office. This addition will help Voit achieve its goal of placing top teams in each commercial product type in this market. Cayton will join the firm as vice president, while Lea will act as an associate.
SAN DIEGO – The Lewis Medical building, a 22,461-square-foot medical office building in San Diego, has sold to Coast Income Properties for $9.7 million. The building is located at 330 Lewis Street. It is fully occupied by UC San Diego Health System. The property was purchased as a triple-net leased investment. Coast Income Properties was represented by Paul Braun and Chris Ross of Colliers International. The seller, KAMF San Diego LLC, was represented by Mel Coffman of California Commercial Properties.
LIVERMORE, CALIF. — Trans Western Polymers has leased 89,429 square feet at Greenville Business Center in Livermore. The center is located at 7501 Las Positas Road. This is the largest lease transaction completed in the Tri-Valley so far this year, according to Colliers International, which represented the landlord, Alere Property Group, in this transaction. Michael Lloyd and Greig Lagomarsino led the Colliers team. Trans Western Polymers was represented by Mike Furay of Lee & Associates.
TUCSCON, ARIZ. – Construction has commenced on the Cadence, a 196-unit Plaza Centro student housing project. The project will be located on Congress Street in downtown Tucson near the University of Arizona. It is slated for completion in August 2013. The housing complex is being developed by Capstone Development Partners, will be built by Summit Builders and designed by Ankrom Moisan Architects.