SEATTLE — Marcus & Millichap Real Estate Investment Services has sold the Roberta and Carol Apartments, a 30-unit complex located in Seattle, for $3,590,000. Both the buyer, a limited liability company, and the seller, a private investor, were represented by Marc Cunningham, an investment specialist in Marcus & Millichap’s Seattle office.
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LOS ANGELES — Voit Real Estate Services’ Central Los Angeles Market teamhas sold 110,000 square feet of land for $2.7 million. This is one of the highest sale prices for land in the Commerce, Calif., region in the past two years, according to Voit’s Brian McLoughlin. A 36,123-square-foot warehouse currently sitson the land. The buyer, So Cal Carriers, plans to use a portion of the building for its Commerce headquarters. The other portion will be demolished. So Cal Carriers was represented by Casey Mungo of GVA Daum Commercial Real Estate Services. The seller, Maechling Family Trust, was represented by McLoughlin along with David Fults, who is also out of Voit’s Commerce office.
SAN DIEGO — Marcus & Millichap Real Estate Investment Services has sold two Rite Aid net-leased assets in Southern California. The Wildomar location was purchased by a private investor from a developer. The San Diego Rite Aid was purchased by a private investor from a family trust. M&M’s Alvin Mansour represented both the buyers and the sellers in each transaction. The two drugstores traded for a total of $6,484,500.
NORTH LAS VEGAS — TNP Strategic Retail Trust has sold a land parcel at Craig Promenade in North Las Vegas to a private entity. Craig Promenade is a 109,250-square-feet retail center that was built in 2005 and purchased by TNP Strategic Retail Trust in March 2011. TNP intends to use the proceeds from the Popeyes land parcel sale to purchase Topaz, a Hesperia, Calif., center that is anchored by Fresh & Easy, through a 1031 Exchange.
SCOTTSDALE, ARIZ. – HCW LLC has purchased a nine-acre parcel at DC Ranch in Scottsdale, which is located at Legacy Boulevard and Pima Road. The property will be developed into an apartment community. It was sold for an undisclosed amount by Enterprise Bank.
SAN FRANCISCO – The 61-unit Pacific View Apartments was purchased by a single-asset entity controlled by a private Bay Area partnership for $11.3 million. The apartment community is located in Pacifica, Calif., which is in San Mateo County. The private partnership acted on its own behalf, while Nathan Blair and Ryan Wagner of Arroyo & Company represented the seller.
SAN JOSE, CALIF. — Xactly Corporation has leased nearly 30,000 square feet at 225 West Santa Clara in Downtown San Jose. The sales solutions specialist will relocate its headquarters to the Class A office tower’s 12th floor later this year. Built in 2001, 225 West Santa Clara is currently more than 90 percent leased. Joshua Hitchcock serves as the regional director of leasing for Equity Office, the property’s owner.
ALISO VIEJO, CALIF. — Digital River has renewed and expanded its presence at 27081 Aliso Creek Road in Aliso Viejo. The global e-commerce firm’s lease expansion includes 12,326 square feet of office space. Brian Childs with NAI Capital’s Orange County office represented Digital River. The building’s owner, Menlo Equities, represented itself in the transaction.
VISALIA, CALIF. — Westcore Properties has purchased West Ferguson, a two-building industrial property totaling 280,290 square feet in Visalia, for $7.95 million. This is the fifth industrial park Westcore has acquired in the Central and Northern California regions in the past few months. The other four properties total 625,730 square feet. West Ferguson is currently 18 percent leased. Its sole tenant is STIHL American LLC. Palmer-Capital’s Brandon Banks represented Westcore Properties in this transaction. The seller, The Allen Group, represented itself.
VAN NUYS, CALIF. — Rexford Industrial’s Fund V REIT (“RIF V) has purchased two industrial buildings totaling 30,000 square feet in Van Nuys for $2.7 million in an all-cash, off-market transaction. The company plans to complete exterior and interior renovations on the vacant properties. Ron Feder of RJ Feder & Associates represented both Rexford Industrial and the seller in this transaction.