SAN FRANCISCO — Cassidy Turley’s Net Leased Investment Services group has sold an eight-property portfolio in Northern California to a family estate. All eight properties, which total 82,200 square feet, are fully leased on a triple-net basis to Bank of America. The sales price was undisclosed. Three of the properties are located in San Francisco, while the remaining five reside in Berkeley, El Cerrito, Alameda, Milpitas and Roseville. Cassidy Turley’s Andy Bogardus, Doug Longyear and Chris Sheldon represented the seller, a San Francisco-based owner, in this transaction.
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LOS ANGELES — Cushman & Wakefield has named Glenn R. Rudy as director of the firm’s Southwest Retail Capital Markets Group. Rudy will be based out of Downtown Los Angeles. He will be responsible for retail investment activities in the Greater Los Angeles area.
NEWPORT BEACH, CALIF. — RiverRock Real Estate Group has been selected by Red Mountain Retail Group to manage nearly three million square feet of its retail properties throughout California and Arizona. Stacey Monroe of RiverRock’s Newport Beach, Calif., headquarters will act as Red Mountain’s portfolio manager.
TUSTIN, CALIF. – A 54,000-square-foot industrial facility at 15601 Mosher Ave. in Tustin has sold to an unnamed buyer for $5,770,000. The buyer was represented by Peter Sowa of Cushman & Wakefield. The seller, Mosher Industrial, LLC, was represented by Dave Desper and Nick Spatafore of CBRE’s Newport Beach, Calif., office.
FOUNTAIN VALLEY, CALIF. – A 20,160-square-foot facility at 11535 Martens River Circle in Fountain Valley has sold to GBCNC Services for $2.5 million. Darin McDonald of Lee & Associates represented GBCNC. The sellers, Philip & Betty Wang, were represented by Nick Spatafore and Dave Desper of CBRE's Newport Beach, Calif., office.
SUNNYVALE, CALIF. — Financial Engines has leased 80,995 square feet of office space at Moffett Towers in Sunnyvale. The firm, which provides investment management and advice to employees in retirement plans, will utilize this space for its headquarters starting in June 2012 after tenant improvements have been completed. It currently occupies 50,000 square feet at 1804 Embarcadero Road in Palo Alto. Financial Engines was represented by David Thede, Jack Troedson and Ben Stern of Cornish & Carey Commercial Newmark Knight Frank. Jay Paul Company’s Moffett Towers was represented by Phil Mahoney, also of Cornish & Carey, who handles the property’s leasing efforts.
MONTEREY, CALIF. – The new 20,000-square-foot student services center has opened at Monterey Peninsula College in Monterey. The adaptable building houses the college’s financial aid, developmental disabilities support, registration and academic offices, which were previously scattered throughout the campus. The sustainable student services center was designed by HGA Architects & Engineers and built by Swinerton Builders.
SUNNYVALE, CALIF. – A 30-unit West Sunnyvale apartment complex that is located at 1617 Queen Charlotte Drive has sold for $5,550,000. Jamie D’Alessandro and Brian Henry with Cassidy Turley’s Multi-Family Group represented both the buyer and the seller, who remained unnamed.
EL CAJON, CALIF. – The 70-unit Greystone Village, located in the San Diego submarket of El Cajon, has sold to Conrad Prebys for $4.5 million. The property resides at 360 Bradley Street. Apartment Consultants, Inc.’s Dave Savage represented both the buyer and the seller, Raj & Associates VII, in this transaction.
CANOGA PARK, CALIF. – A 19-unit apartment building that is located at 8720 Topanga Canyon Blvd. in Canoga Park has sold to an undisclosed buyer for $2,087,500. The property contained eight low-income tenants at the time of closing, which was required by the Earthquake Emergency Loan Program financing that was formerly in place. The community was built in 1964 and is subject to rent control. The transaction closed at a 6.58 percent cap rate. Rick Raymundo of Marcus & Millichap represented the seller, a private trust, in this transaction.