NEWPORT BEACH, CALIF. — An 18,066-square-foot office building in Newport Beach has sold to Bristol Street Partners for $4.2 million. The building is located at 2350 SE Bristol Street. It is fully occupied by Walldesign. Bristol Street was represented by Jim Schoolfield and Taylor Wood of Cresa Partners in Newport Beach. The seller, Ru Investments, was represented by Tony Gleason of Voit Real Estate Services’ Irvine office.
Western
EL CAJON, CALIF. — Mossy Automotive Group has purchased an 18,800-square-foot showroom/office building in El Cajon for $2.5 million. The property is situated on 3.7 acres at 266-300 El Cajon Blvd. Mossy also recently leased two other contiguous lots at 230 and 260 El Cajon Blvd. and 342-360 El Cajon Blvd. The lots total 80,586 square feet and now house a VW dealership. Mossy was represented by Kerry Schimpf and Cameron Czubernat of Cassidy Turley San Diego in all three transactions. The lessors, Debbie Huntamer, Albert Erigat and Victoria Erigat, were represented by Mark Robak of Trinity Commercial.
FORT COLLINS, COLO. — Foothills Mall, a 753,000-square-foot, enclosed super regional mall in Fort Collins, has sold to a joint venture formed by affiliates of Walton Street Capital and Alberta Development Partners. The purchase price was not disclosed. The mall, which is anchored by Macy’s and Sears, will undergo a major revitalization.
NEWPORT BEACH, CALIF. – A 182-unit Orange County multifamily portfolio has received $10.2 million in Fannie Mae DUS loans that will be used to refinance the properties. The interest-only, fixed-rate loans boast a 10-year term and 30-year amortization period. The loan loans were arranged for the borrower, David Hurwitz, by Kristen Croxton and Greg Reed of Beech Street Capital’s Newport Beach office.
SAN DIEGO — Affiliates of Greenlaw Partners and Walton Street Capital have purchased the 198,000-square-foot South Bay Corporate Center in the San Diego submarket of National City. The office building is located at 401 Mile of Cars Way. Tony Russell of Jones Lang LaSalle and Phil Linton of Cassidy Turley represented both the buyer and the seller in this transaction.
LOS FELIZ, CALIF. — A 49-unit apartment complex in the Los Angeles submarket of Los Feliz has sold to ROM Investments for $6,025,000. The complex is located at 4623 La Mirada Ave. It was built in 1963 and is fully leased. ROM Investments was represented in-house by Leeor Maciborski. The seller, PS Investments, was represented by Henry Garcia of KW Commercial.
RANCHO CUCAMONGA, CALIF. — Reusable Container Corporation has signed a new 52-month lease for 100,000 square feet of industrial space in Rancho Cucamonga. The company, which already occupies 100,876 square feet within this center, plans to expand its manufacturing operation with the additional space. It will now fully occupy the facility, which is located at 8950 Rochester Ave. within the Rancho Technology Park. Frank Geraci, Walt Chenoweth and Juan Gutierrez of Voit’s Inland Empire office represented both the tenant and the landlord, DCT Industrial Trust, in this transaction.
SANTA MARGARITA, CALIF. – An 8,309-square-foot retail building in the Orange County submarket of Santa Margarita has sold to Fadco Enterprises for $2.6 million. It is located at 28672 Deerpath Road. Kevin Quick of Lee & Associates’ Newport Beach office represented Fadco. The seller, the Noel S. Schurrman Trust, was represented by Colliers International.
DENVER – The 107-unit Wellshire Arms Apartments in Denver has received $15.2 million in debt and equity. Its owners, Bruckal Properties Inc., received $10.9 million in debt and $4.3 million in equity. The property is located at 2499 South Colorado Blvd. The senior, non-recourse loan was arranged by Malcolm Davies and Michelle Lee of George Smith Partners. Bruckal plans to use part of this funding to modernize the building.
SAN DIEGO — CapRock Partners has purchased two industrial buildings in San Diego that total 36,826 square feet. The properties were acquired through an all-cash transaction via an auction process at a courthouse in San Diego County. The purchase price was not disclosed. The adjacent buildings are located at 9225 and 9245 Brown Deer Road in the Sorrento Mesa/Miramar submarket. They were constructed in 1989. The firm plans to renovate the space before selling to individual owner-users. Mickey Morera and James Duncan of Cushman & Wakefield will market the properties.