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.
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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.
TEMPE, ARIZ. — Desert Vista Commerce Center, a 98,687-square-foot office and flex industrial building in Tempe, has received $5 million in first-mortgage refinancing. The building is located on South Hardy Drive. The 10-year, fixed-rate loan was arranged by Shari Stults of NorthMarq Capital’s Phoenix office through the firm’s relationship with a correspondent life insurance company.
VICTORVILLE, CALIF. — Construction has commenced on a 176,800-square-foot expansion at the Southern California Logistics Centre (SCLC) in Victorville. This is a 2,500-acre industrial and commercial complex that is being expanded to accommodate the distribution needs of one of the center’s major tenants. That tenant recently signed a new 10-year lease extension at the center. Once completed, the 407,612-square-foot facility will expand to 584,412 square feet. The center is owned by Stirling Capital Investments, which was represented by CBRE’s Darla Longo, Barbara Emmons, Jay Dick and Mark Latimer in the lease transaction. The tenant was represented by Ralph Gilbertson and Erik Wanland, also of CBRE.
OAKLAND, CALIF. — Quik Pick Express has leased a 42,000-square-foot warehouse in Oakland. The facility is located within the Elmhurst Business Park at 745 85th Ave. The third-party logistics company plans to expand its operation at the new facility. Harvest Properties, the asset manager for owner Principal Real Estate Investors, was represented by John McManus and Andrew Briner of Cushman & Wakefield’s Oakland office.
PEORIA, ARIZ. — Montebella Villas Apartments in Peoria has sold to WE Villas at Montebella, LLLP for $2.95 million. The community is located at 10860 N. 85th Ave. The buyer was represented by Linda Gerchick of the Robinson Group. The seller, Montebella Villas, LLC, was represented by David Cravath of NAI Horizon’s Phoenix office.
PHOENIX – A 3,078-square-foot property in Phoenix that is occupied by a Circle K Gas & Convenience store has sold to a family trust for $2,285,000. The single-tenant, triple-net leased retail property was built in 1987 at 1901 West Cactus Road. The transaction closed at a 7.35 percent cap rate. The buyer was represented by Jon Boland of Voit Real Estate Services in San Diego. The seller, D.E.E Holdings, was represented by Chris Maling and David Maling of Colliers International.
FRESNO, CALIF. – Family Dollar has leased 11,016 square feet of retail space in Fresno. The new location resides at 4027 N. Marks Ave. The property’s landlord is Lanmark Plaza, LLC. The transaction was executed by John Lee and Lewis Smith of Retail California.