OXNARD, CALIF. — An 80-unit multifamily project in Oxnard has received a $10-million construction loan. The loan features a three-year term, a 5.5 percent interest rate and a 60 percent loan-to-value. The loan was arranged by Jake Roberts and Anita Paryani of Marcus & Millichap Capital Corporation’s West Los Angeles office.
Western
HILLSBORO, ORE. – A pair of R&D buildings in Hillsboro has sold to WPC Tech LLC for $6.9 million. The buildings include One and Two Technology Centers, which are located at 7431 & 7451 NW Evergreen Parkway. They total 95,000 square feet situated on 8.5 acres. Keith Young of Kidder Mathews represented both the buyer and the seller, BH Two Tech LLC and Force-BH LLC, in this transaction.
CITY OF INDUSTRY, CALIF. — Railroad Handel, a 76,180-square-foot industrial building in the City of Industry, has received $3.3 million in first-mortgage refinancing. The facility is located at 18451-18467 Railroad Street. It is 80 percent leased. The 10-year loan features a 25-year amortization schedule. Financing was arranged by Michael Elmore of NorthMarq Capital’s Los Angeles office through the firm’s relationship with a national bank.
CHANDLER, ARIZ. — QBE First, part of QBE Insurance Group Limited, has signed an 11-year lease for 183,000 square feet of call center space in Chandler. The space is located at 2700 Corporate Center. The company will move into the facility in the fourth quarter of 2012. QBE was represented by Greg Bast and Wally Hale of Jones Lang LaSalle. The landlord, Regent Properties, was represented by Bill Blake and Colton Trauter of Lee & Associates.
SELMA, CALIF. — Selma Square, a 104,371-square-foot retail center in Selma, has received $9.3 million in first-mortgage refinancing. The center is located at 2751-2883 Highland Ave. Notable tenants include Food 4 Less Store and Office Max. The loan features a 10-year term and a 30-year amortization schedule. It was arranged by Michael Elmore and David Blum of NorthMarq Capital’s Los Angeles office through the firm’s relationship with a CMBS lender.
PETALUMA, CALIF. — East Washington Place, a new 380,000-square-foot shopping center in Petaluma, has secured several new tenants. They include Dick's Sporting Goods, T.J. Maxx/Homegoods, Sprouts Grocery and Ulta Salon and Cosmetics & Fragrance. Dick’s absorbed 50,000 square feet; T.J. Maxx grabbed 46,000 square feet; Sprouts has 25,000 square feet; and Ulta secured 10,000 square feet. Other notable new tenants include Panera Bread, Subway, Sport Clips and Sift Cupcake & Dessert Bar. The center will be anchored by Target, which purchased 10 acres of vacant space where it’s constructing a separately owned 140,000-square-foot store. The landlord, Regency Centers, was represented by Matt Kircher, John Schaefer and Katie Singer with Terranomics Retail Services. Singer procured all the above-mentioned tenants except for Sift Cupcake, which was procured by Trish Gonsalves, also of Terranomics.
PHOENIX — Consolidated Grain & Barge Co. (CGB) has leased 155,794 square feet of industrial space in Phoenix. The facility is located at 2225 S. 75th Ave. within the Durango Commerce Center. This lease will bring the center to 96 percent occupancy. CGB plans to store products related to the solar construction industry at this space. The company was represented by Matt McDougall of Lee & Associates. The landlord, Clarion Partners, was represented by Bo Mills, Mark Detmer, Will Strong and Jackie Orcutt of Cushman & Wakefield of Arizona.
FLAGSTAFF, ARIZ — Timberline Place, a Class A apartment/condo complex in Flagstaff, has received $4,087,000 in acquisition financing. The funds will be used to purchase 102 units of the 204-unit complex. The community was built in 2000 and converted into condos in 2006 following a major upgrade. Only half of the units had sold by 2010, however. Tim Storey and Patrick Barkley of Newmark Realty Capital’s Phoenix office arranged the five-year loan for the remaining units through a local bank.
PARAMOUNT, CALIF. — A 28,600-square-foot, multi-tenant industrial building in Paramount has sold to ABR Properties for $2.6 million. The property is located at 15700-15714 Garfield Ave. and 7515-7524 Madison Street. ABR will occupy the majority of the building but will lease out remaining space. The company was represented by Jay Martinez of KW Commercial. The seller, a private trust, was represented by Chris Sheehan and Adam Deierling of Colliers International.
BAKERSFIELD, CALIF. — Titan Real Estate Investment Group has purchased a 360,000-square-foot cold storage facility in Bakersfield for $15 million. The facility contains 9 million cubic feet of refrigerated and dry storage space. It is the largest refrigerated storage facility in Kern County, according to Titan, which plans to expand the facility’s refrigerated capacity. Following this acquisition, the company also formed Titan Cold Storage.