HOLLYWOOD, CALIF. — A vintage English Tudor 7 Unit apartment complex in Hollywood has sold to Nick Sasano for $1.8 million. The property is located at 2062 Argyle Ave. The seven-unit complex was built in 1929. The seller, Argyle Ave LLC, was represented by Tim Steuernol and Rob Zaharia of NAI Capital’s West LA office.
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MALIBU, CALIF. – The 256-unit Paradise Cove Mobile Home Park in Malibu has received a $30-million first mortgage that will be used to refinance the property. The 10-year loan is structured under Fannie Mae’s DUS Manufactured Housing Community Loan Program. It features a 3.85 percent fixed rate, 9.5 years yield maintenance and a 30-year amortization schedule. The loan was arranged for The Kissel Company by Berkeley Point Capital LLC.
LANCASTER, CALIF. – A 53,822-square-foot retail property located within the Lancaster Plaza has sold to 2429 Danalda and Kab Plaza LLC. It is located at 1006, 1022, 1030, 1060 E. Ave. J. The center was more than 82 percent leased at the time of sale. Fariba Kavian with NAI Capital’s West LA office represented the seller, LNR Properties, in this transaction.
SAN DIEGO — Camino Village Shopping Center in San Diego has sold to HP Investors for $5.25 million. The 34,602-square-foot center is located at 11255-79 Camino Ruiz and 11345-11347 Zapata. Both the buyer and the seller, LNR Partners, LLC, were represented by Richard Lebert, Mark McEwen, Matt Zimsky, Jon Busse and John Gross of Colliers International.
LAS VEGAS — Faris Lee Investments has added two new executives to its Las Vegas office. Lisa M. Brady will serve as managing director and Katie Brase will act as director. The firm has also relocated to 6671 Las Vegas Boulevard South, Suite 310, inside Town Square to accommodate the new growth.
The southern New Mexico industrial sector remained strong in 2011 and we expect 2012 to be a year of continued expansion and growth. The largest concentration of growth in the industrial arena has taken place in Santa Teresa and the immediate surrounding area. The industrial market in this trade area has benefited greatly from its proximity to the border with Mexico and work done by Gov. Susana Martinez in attracting industrial tenants to the area. We have also seen an influx of manufacturing companies that moved their operations to Asia who are now looking to relocate back in North America, specifically to those trade areas that benefit from a geographic link to Mexico. Large box property owners gained the most in 2011 with the recent expansion of companies and businesses locating in the area. In 2011 Alaska Structures leased about 350,000 square feet of industrial space on the west mesa in Las Cruces. The company occupied one of the last remaining big boxes in the market, leaving little available big box space in the greater Las Cruces market. While 2011 was a good year for large boxes, landlords for mid-size and smaller boxes felt the pinch as tenants were able …
MESA, ARIZ. — Banner Health has purchased 21 acres in Mesa for $6.3 million. The acreage is located just east of the southeast corner of US 60 and Greenfield Road. The seller, Crisko LLC, was represented by Brent Moser, Mike Sutton and Brooks Griffith from Cassidy Turley BRE Commercial’s Land Group.
CANOGA PARK, CALIF. — A 28-unit apartment building in Canoga Park has sold to Minas Properties, LLC for $3.06 million. It is located at 21700 Roscoe Blvd. The community was built in 1962 and was fully occupied at the time of sale. Minas was represented by Empire Estates Group. The seller, Roscoe Villa, L.P., was represented by Albert Shilton and Blake Rogers of Charles Dunn Company.
TARZANA, CALIF. – A 12,044-square-foot vacant retail space in Tarzana has sold to a dermatology and skin care practice group for $2,326,000. The property is located at 18553-18563 Ventura Blvd. Jeff Gould and Jeff Albee of Colliers International represented both the buyer and the seller in this transaction.
HILLSBORO, ORE. — An office building located at 3000 NW Stucki Pl in Hillsboro has sold to UPM Property No. 20, LLC for $2,425,000. UPM was represented by Charlie Floberg of Norris Beggs & Simpson. The seller, JP Morgan Chase, was represented by Kevin Wingate-Pearse and John Brandhorst of Sperry Van Ness | Bluestone & Hockley.