LA MESA, CALIF. – The 26-unit La Mesa Villas apartments in La Mesa has sold to Pine Street Park LLC for $3.75 million. The community is located at 8862 La Mesa Blvd. The seller, First Fund LLC, was represented by David Andrews of Hendricks & Partners’ San Diego office.
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WEST HOLLYWOOD, CALIF. – A seven-unit apartment complex located at 144 North Wetherly Drive in West Hollywood has sold to KLB Holding Company for $2.35 million. The 10,830-square-foot complex was built in 1963. KLB was represented by Rachel Neuwirth of Nelson Shelton & Associates. The seller, a local private investor, was represented by Hamid Soroudi of Charles Dunn Company.
SIMI VALLEY, CALIF. — All American Containers has leased a 76,090-square-foot industrial building in Simi Valley. The facility is located at 2390 Ward Ave., Unit B. The lease was valued at $1.4 million. All American will be relocating from a 29,000-square-foot facility. It was represented by John DeGrinis, Patrick DuRoss and Jeff Abraham of Colliers’ Encino, Calif., office. The landlord was represented by Scott Caswell of Delphi Business Properties.
SALT LAKE CITY — Express Messenger Systems has leased 106,893 square feet at Landmark at Salt Lake Park. The company will use this space, located in Building 6, to expand its operations. The firm originally occupied 36,000 square feet in Building 5. This will allow Express Messenger to more than triple its space, while simultaneously bringing Building 6 to full occupancy. Express Messenger was represented by CBRE’s Tom Dischmann. IDI, the building’s owner, was represented by Rad Dye, also of CBRE.
VICTORVILLE, CALIF. — Modern Space Pacific Services has signed a lease for 47,652 square feet at the Southern California Logistics Centre in Victorville. This lease makes Modern Space the single largest user in the multi-tenant portion of the logistics centre, which currently boasts a 94 percent occupancy rate. The Centre is owned by Stirling Capital.
SAN DIEGO – An 18,000-square-foot residential lot in the College Area of San Diego has sold to Warmington Residential California for $2.7 million. The lot is located at 6229 Montezuma Road. The site is fully approved for a 94-bed student housing complex. Warmington represented itself in the transaction, while the seller, Aztec Greystone Associates, was represented by David Santistevan and Gunder Creager of Colliers’ San Diego office.
VICTORVILLE, CALIF. – A 14,740-square-foot property in Victorville that is currently net leased to Walgreens has sold to a private investor for $7,469,000. The buyer was represented by Vincent Schwab of Marcus & Millichap’s San Francisco office.
SACRAMENTO, CALIF. — Jones Lang LaSalle has added Clyde Rawlings and Toss Vallentine to its Sacramento office. The duo was previously with Grubb & Ellis. The new addition is part of the firm’s expansion plans in the Pacific Northwest. In the past 12 months, JLL has quadrupled its Sacramento presence.
KENNEWICK, WASH. – A 63-unit Fairfield Inn in Kennewick has received a $4,075,000 cash-out refinance. The hotel is located at 7809 West Quinault Ave. The long-term, fixed-rate loan was arranged by Premier Capital Associates.
SUNNYVALE, CALIF. — A 14,820-square-foot Walgreens drugstore in Sunnyvale has sold to an apartment owner for $10.05 million. The sale was part of a 1031 exchange. The freestanding drugstore was built in 2008 on 1.5 acres at 780 East El Camino Real. Walgreens has a 75-year triple-net lease with 22 years remaining on its initial term and 10 percent rental escalations every 10 years. Thomas Doglio of Marcus & Millichap’s Palo Alto office represented the buyer in this transaction.