PLEASANTON, CALIF. — MIG Real Estate has purchased the Britannia Business Center in Pleasanton for an undisclosed sum. The 135,210-square-foot center is located in the Hacienda Business Park, which consists of Class A office and R&D buildings. This is MIG’s first Bay Area acquisition. The company plans to invest up to $600 million throughout the year on office, retail, hotel and multifamily properties located in the West’s major markets. MIG represented itself in this transaction, while HFF’s Steve Golubchik, Michael Leggett, David Karol and Gerry Rohm represented the seller.
Western
AZUSA, CALIF. — Newmark Realty Capital has arranged $8 million for Joe Blum of Rawson, Blum & Leon to purchase the Atrium in Azusa. The Atrium is a 124,228-square-foot office and industrial complex. The 10-year loan was secured prior to the property going under contract. The firm’s Eric Von Berg, Tom Dao and Kana Yujuico received a loan commitment from one of Newmark’s correspondent lenders. The firm will also be servicing this loan.
ESCONDIDO, CALIF. –The 28,774-square-foot Mission Office Park in Escondido has sold to Pacifica Enterprises (PEI) for an undisclosed sum. The park is located at 504-508 W. Mission Ave. and was 48 percent leased at the time of sale. Edward Indvik of Lee & Associates-Investment Services Group, along with Rusty Williams and Kyle Bowlsby of the firm’s Carlsbad office, represented both the buyer and the seller in this transaction.
NORTHRIDGE, CALIF. – The 50-unit Varsity Club Apartments in Northridge has sold to a private investor for $11.25 million. The 63,406-square-foot apartment building is located at 10020 Zelzah Ave. The buyer was represented by Thomas McCartin of Marcus & Millichap’s San Diego office. The seller, a Southern California real estate developer, was represented by Reza Ghobadi of the firm’s Encino office.
LOS ANGELES — Barker Pacific Group and Artemis Real Estate Partners have formed a joint venture to acquire self-storage assets throughout the Southwestern U.S. Their first investment was a 112,590-square-foot King Road Self-Storage in San Jose that was purchased for $8.45 million. The facility features 1,039 storage units, as well as surface parking for boat and RV storage. King Road was lender-owned. The brokers for the seller were Chico LeClair and Nicolas Walker of Marcus & Millichap. Barker Pacific represented itself in this transaction.
AURORA, COLO. – The renovation of Aurora’s only full-service recreation center is complete. The Beck Recreation Center received a total overhaul, which included a new parking lot, landscape development and a 25-panel thermal solar system. The center also received a new main entryway. The renovation added more than 3,800 square feet to the center, which now totals 57,211 square feet. The center is located at 800 Telluride Street.
ONTARIO, CALIF. — Two manufacturing buildings in Ontario have been purchased by Rexford Industrial for $4.8 million. The buildings reside on 8.93 acres adjacent to Ontario International Airport. This was an off-market, sale-leaseback transaction that was executed on behalf of Rexford Industrial Fund V REIT. The seller, Plastics ResearchCorporation, has signed a 10-year lease to fully occupy the buildings at 1400 South Campus Ave. Dan Foye of Daum Commercial represented both Rexford and Plastics Research in this transaction.
SAN JUAN CAPISTRANO, CALIF. — O'Reilly Automotive has signed a 15-year lease for a 6,000-square-foot retail location in San Juan Capistrano. The property, which was formerly a Sizzler, is located at 31863 Del Obispo. The company plans to use this new location to expand its Orange County presence. O'Reilly was represented by Keith Kropfl of Voit’s Irvine office. The owner, Theodore H. Stroscher Investments, LLC, was represented by Jim Clarkson of Strategic Retail Advisors in this transaction.
LOS ANGELES — A four-unit apartment complex in Los Angeles has sold to a private investor for $1.8 million. The community is situated on a 7,884-square foot lot at 2640 North Beachwood Drive. Tony Azzi of Marcus & Millichap’s West Los Angeles office represented both the buyer and the seller, a limited liability company, in this transaction.
ONTARIO, CALIF. – A 102,878-square-foot, Class A distribution facility in Ontario has sold to Industrial Income Trust for $8,333,000. The facility is located at 5505 Concours Street and includes 65,572 square feet of cooler space. Clyde Stauff and Ian DeVries of Colliers International represented both the buyer and the seller, the Caldwell Company, in this transaction.