ORANGE, CALIF. — A 10,000-square-foot office building located at 1010 West Chapman Ave. in Orange has sold to a team of private investors from Santa Ana, Calif., for an undisclosed sum. The building was 40 percent leased at the time of sale. The buyer was represented by Juve Pinedo of Rancon Real Estate. The seller, a private investor, was represented by Chris Deason of Voit Real Estate Services.
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SAN MATEO, CALIF. — Guitar Center is opening a new 14,526-square-foot location at the Hillsdale Shopping Center in San Mateo this summer. Nordstrom, Macy's and Sears also reside at the shopping center, which is owned by Bohannon Development Company. Guitar Center was represented by Patrick McGaughey and James Chung of Terranomics Retail Services.
TEMECULA, CALIF. — Madison Avenue Plaza, a two-building, 66,859-square-foot office project in Temecula, has sold to Providence Capital Speed Fund II for $5,825,000. The property is located at 27270-27290 Madison Ave. Providence was represented by Stan Tomer of CBRE. The seller, LNR Partners, LLC, was represented by Paul Lafrenz, Paul Komadina and Melissa Foster of the CBRE San Diego Private Capital Group, along with Dan Yeilding, also of CBRE.
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.
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.