PORTLAND, ORE. – The 36-unit Dalton Park Apartments in Portland has sold to Coan Trust et al for $3.1 million. The community is located at 14153 E. Burnside. The seller was CALA, LLC. John Brandhorst and Cliff Hockley of Sperry Van Ness | Bluestone & Hockley represented Coan Trust in this transaction.
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TURLOCK, CALIF. — Old Navy will open a new 15,000-square-foot store in the Monte Vista Crossings shopping center in Turlock this fall. The power center is also home to Target, Lowe’s, Kohl’s, Home Depot and Safeway. It is owned by Hall Equities Group. Drew Greenspan and Staci Eisler Cole with Terranomics Retail Services represented Old Navy in this lease transaction.
PASADENA, CALIF. – A 10,583-square-foot retail building that resides along Pasadena’s South Lake Avenue Retail District has sold to a private investor from Beverly Hills, Calif., for an undisclosed sum. The building is located at 320 South Lake Ave. and was vacant at the time of sale. Other retailers in the neighborhood include Macy’s, Anthropologie, Williams-Sonoma, Pottery Barn Kids, Talbots, Ann Taylor, Pacific Sales, Corner Bakery and Trader Joe's. The buyer was represented by Patrick Luther and Nicholas Coo of Faris Lee Investments. The seller, a private investor from Encino, Calif., was represented by Carlos J. Lopez of Hanley Investment Urban Retail Advisors.
TACOMA, WASH. –Two ground-leased properties in Tacoma, including a Jack in the Box and Harborstone, have sold to an unnamed buyer for $2.7 million. They are located at 4720 Center Street and boast a total of 7,681 square feet. Peter Nisbet of Marcus & Millichap’s Seattle office represented the seller, a limited liability company, in this transaction.
LOS ANGELES — Global architectural practice Altoon Partners has signed a lease for 15,876 square feet at 617 W 7th Street in Downtown Los Angeles. The company will be relocating from nearby 444 S. Flower later this year. The new lease will bring the 7th Street building to 92 percent capacity. It was built in 1923 and is owned by The Swig Company.
BASALT, COLO. — Cohen Financial has provided a $15-million construction loan to develop retail space at Willits Town Center, a multi-use community development in Basalt. The loan will cover the construction of a 26,200-square-foot Whole Foods Store and another 19,000 square feet of new retail space in the same building. It will also include 28,000 square feet of existing retail space that is partially leased. The loan is secured by the balance of the land in development. The loan was secured by Don C. Trossman of Cohen Financial’s Chicago office through a Midwestern-based bank. It features a 24-month term with an extension option rate.
ARVADA, COLO. — SKYLouver Systems has signed a five-year lease for 10,283 square feet at the Ralston Business Center in Arvada. The center is located at 5525 W. 56th Ave. The company will utilize the space as a research and development facility. SKYLouver was represented by Brady Welsh and Jeffrey Nations of Bitzer Real Estate Partners/CORFAC International.
QUEEN CREEK, ARIZ. — A 16,615-square-foot industrial manufacturing building located at 21775 E. McCowan Lane in Queen Creek has sold to Ranchland Holdings I, LLC for $1.1 million. The one-story building was constructed in 2004 and contains 13,114 square feet of warehouse and 3,500 square feet of office space. Ranchland Holdings was represented in-house, while the seller, MidFirst Bank, was represented by TJ Swearengin and Matt McDougall of Lee & Associates.
HILLSBORO, ORE. — Bank of America Northwest Lending Center, a 57,000-square-foot office building in Hillsboro, has sold to Watumull Properties Corp. for $5.2 million. The building is located at 21000 Northwest Evergreen Parkway. It was built in 1985 and gained an addition in 1993. The property is fully occupied by Bank of America. Keith Young and Cliff Finnell of Kidder Mathews represented both the buyer and the seller, Oregon Pacific Investment & Development Company, in this transaction.
FLAGSTAFF, ARIZ. — Timberline Place, a fractured luxury condominium project in Flagstaff, has sold to SWRE Deal IV, LLC for $8.5 million. The LLC purchased 102 luxury condominium units in the complex, which is located at 4343 E. Soliere Ave. The project contains 204 total units – 102 of which were available for bulk purchase – and was built in 2000. The complex resides within the Continental Country Club community. The seller, Aspen Timberline II, LLC, was represented by David Fogler and Steven Nicoluzakis, with Cassidy Turley’s Multi-Family Service Group.