SAN FRANCISCO – The 24-unit Antoinette Apartments in South San Francisco has sold to an unnamed buyer for $3.8 million. The community is located at 942 Antoinette Lane. Tony Jalili of Marcus & Millichap’s Oakland office represented the seller, a private investor, in this transaction.
ALBUQUERQUE, N. MEX. – The 232-unit La Ventana apartment complex in Albuquerque has sold to MPLA Ventana Apartments LLC for an undisclosed sum. The community is located at 12200 Academy Road NE. Hendricks & Partners’ Bill Fox, Art Wadlund, Mark Forrester and Ric Holway represented the seller, GFPG 12200 Academy Road ABQ II, LLC, in this transaction.
EL CAJON, CALIF. — A 245,000-square-foot business park in El Cajon has received $15.4 million in interim financing. The four-year loan features a 30-year amortization schedule and was written to a 65 percent loan-to-value. It was provided by Adam Petriella of the Real Estate Finance Group in cooperation with Anita Paryani of Marcus & Millichap.
BEND, ORE. — AIRCRAFT MANUFACTURER’S RE, LLC, doing business as Epic Aircraft, has purchased the 90,000-square-foot manufacturing facility it occupies in Bend. The facility, which is located within the Bend Airport Enterprise zone, was listed for sale at $3.8 million, though the actual purchase price was not disclosed. The facility is located on the tarmac of the Bend Municipal Airport and has a long-term ground lease with the City of Bend. Robert Raimondi and Gardner Williams of Compass Commercial Real Estate Services represented both the buyer and the seller, ER 1, LLC, in this transaction.
OXNARD, CALIF. — A 14,111-square-foot industrial building located at 1450 E. Wooley Road in Oxnard has sold to BBS Partners, LLC for $1,481,655. The building was constructed in 2007. BBS plans to use the building for its packaging supply business. The company was represented by Michael L. Wax of Industrial Park Associates. The seller, Channel Islands Equity II, was represented by Mike Walsh of DAUM.
LAS VEGAS — Marcus & Millichap has arranged the $27.8 million sale of a 16,016-square-foot Walgreens, located at 3025 S. Law Vegas Blvd. on the Las Vegas strip. At a sale price of $1,736 per square foot, it is the most valuable single-tenant drugstore to ever trade in the U.S. Ray Germain of Marcus & Millichap's Las Vegas office represented the seller, a local real estate investment partnership, in the transaction. Sean Shahar Ziv of the firm's San Diego office represented the buyer, a foreign fund. Walgreens was in the 11th year of a 20-year, triple-net lease and prior to the close of escrow Germain negotiated an additional 10-year extension.
PARKER, COLO. — JRK Property Holdings has purchased the 325-unit Briargate on Main apartment community in Parker for an undisclosed sum. The community was built in 2003 and was 93 percent occupied at the time of sale. The seller, Colony Realty Partners, was represented by Doug Andrews, Jeff Hawks, Shane Ozment and Terrance Hunt of ARA Colorado.
RIVERSIDE, CALIF. — CIP Real Estate has secured 45,000 square feet worth of leasing space at the Summit Business Center in Riverside. This includes a 3,500-square-foot office space for the State of California; 7,500 square feet for Advanced Imaging Solutions; and 2,500 square feet for Goodwill Industries. Crescent Healthcare also expanded its space at the center by 6,300 square feet, while the County of Riverside extended its lease for 15,200 square feet of space. These lease transactions have increased the center’s occupancy from 35 percent to 50 percent. CIP also recently announced plans to invest $1.6 million in capital improvements at the center, as well as $2.2 million for interior tenant improvements. Renovations are expected to be completed in the second and third quarters of 2012. Phil Woodford and Vindar Batoosingh of CBRE’s Ontario office represented the property’s landlord in all the lease transactions.
PHOENIX — ViaTeK Solutions has signed a three-year lease for 23,225 square feet of warehouse space at Freeport Buckeye West in Phoenix. This will be the company’s first Phoenix-area location. ViaTeK was represented by Bill Bayless and Andrew Brigham of CBRE’s Phoenix office. The landlord, B-V Freeport Distribution Center LLC, was represented by Bo Mills, Mark Detmer and Will Strong of Cushman & Wakefield in Phoenix.
TUCSON, ARIZ. – The 22-unit Academy Lofts in Tucson has received $1,668,000 in first-mortgage refinancing. The loan features a 10-year term and a 30-year amortization schedule. It was arranged by James DuMars and John Kinser of NorthMarq’s Phoenix regional office via the firm’s relationship with Fannie Mae.