SAN JOSE, CALIF. — A new Walmart Neighborhood Market will soon reside at Evergreen Village Square in San Jose. Walmart will occupy a 40,950-square-foot retail site that has been vacant since 2007. The company has signed a 10-year lease at the center. The landlord, Shapell Properties, was represented by Mike Messinger and Josh Gispan of Meacham/Oppenheimer CORFAC International.
Western
FREMONT, CALIF. – A 2,386-square-foot property that is triple-net leased to Jack in the Box through 2032 has sold to an individual/personal trust for $2,135,000. The Class A building is located at 34701 Ardenwood Blvd. It was originally built in 1992 and renovated in 2010. The buyer was represented by David Ching of Marcus & Millichap’s Oakland office.
SIMI VALLEY, CALIF. — A 21,700-square-foot industrial building in Simi Valley has sold to California Lasers for $2,139,000. The building is located at 2255 Agate Court. California Lasers was represented by Patrick DuRoss, John DeGrinisand Jeff Abraham of Colliers International. The seller, Spar Investment Company, was represented by Grant Harris, John Ochoa and Grant Fulkerson of Lee & Associates-LA North/Ventura.
CHANDLER, ARIZ. – The 272-unit San Ventura apartments in Chandler has sold to Baron Properties and its equity partner RGA for an undisclosed sum. The community is located at 3600 W. Ray Road. San Ventura was built in 1995 and was 97 percent occupied at the time of sale. The seller, ColRich Multifamily, was represented by Tyler Anderson, Sean Cunningham and Asher Gunter of CBRE’s Phoenix office. This group also structured the sale.
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.
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.