CITY OF INDUSTRY, CALIF. — A 96,888-square-foot industrial warehouse in the City of Industry has sold to Asia Direct for $8.24 million. The furniture importer plans to use the warehouse for its new headquarters, which is currently based in Commerce, Calif. Asia Direct was represented by Brian McLoughlin and David Fults of Voit’s Commerce office. The seller, Overton Moore Properties, was represented by Cushman & Wakefield.
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GILBERT, ARIZ. — Acquinity Interactive plans to open a new call center at 1030 N. Colorado Street in Gilbert. The Internet marketing firm has leased 22,186 square feet at the single-story office building and has recently announced plans to hire up to 200 workers before year’s end. Jim Trobaugh, Chris Hook and Rob Marsh of CBRE’s Labor Analytics Group represented Acquinity in its four-year lease agreement. The landlord, DT Credit Company LLC, was represented by Mike McQuaid and Mike Garlick of Lee & Associates.
MANHATTAN BEACH, CALIF. — Hendricks & Partners has hired Michael McKinney and Steffan Braunlich, who will open and head up the firm’s new South Bay office in Manhattan Beach. The firm chose to expand into this Los Angeles submarketto capitalize on the momentum in the multifamily industry. McKinney previously served as first vice president at CB Richard Ellis, while Braunlich worked as an associate with CBRE’s Multi-Housing/Private Capital Group.
EL SEGUNDO, CALIF. – A 2.15-acre hotel site at Campus El Segundo has sold to OTO Development, LLC for $4.4 million. OTO plans to use the site for a 143-room Hyatt Place hotel, which will begin construction immediately. There are still 24 acres that remain at Cam pus El Segundo. Jim Thomas, chairman and CEO of the seller, Thomas Property Group, noted his company still has flexible entitlements for about 1.7 million square feet of future development space.
SAN DIEGO – Independence Square Shopping Center in the Kearny Mesa submarket of San Diego has received $12 million for a refinance. The permanent financing was arranged by Newmark Realty Capital. The fixed-rate, non-recourse loan includes a 10-year term. The borrower was a private client and the lender was a national bank. Financing was arranged by James Dick, a vice president in Newmark’s San Diego office.
HAYWARD, CALIF. — The 214,172-square-foot Whipple Industrial Center in Hayward has sold to LBA Realty, LLC from WP Investments for an undisclosed sum. The institutional-quality manufacturing/warehouse facility is fully occupied by Morgan Technical Ceramics, which holds a long-term lease at the center. Whipple was built in 1972 and renovated in 2002. The sale was executed by Greig Lagomarsino and Mark Maguire of Colliers International’s Oakland office, along with Greg Cioth and Edmund Najera of Eastdil Secured.
EL SEGUNDO, CALIF. — Net2EZ has signed a long-term lease expansion for more than 24,000 square feet of space at Digital Realty's El Segundo data center facility. This brings the data center service provider’s total space at the facility to more than 40,000 square feet.
SIERRA VISTA, ARIZ. – The 23,485-square-foot General Services Administration (GSA) building in Sierra Vista has sold to a New York-based REIT for $7.4 million. The property is a former Lazy Boy showroom that was renovated and converted into an eco-friendly office building. It is fully occupied by the Department of Interior. The U.S. Federal Government has a 10-year lease at the single-tenant, freestanding property. The transaction was brokered by Mark Phillips, managing director of Sperry Van Ness.
GILBERT, ARIZ. — NorthMarq Capital has arranged $3.7 million in first-mortgage financing for Higley Park Commons in Gilbert. Financing for the 68,000-square-foot mixed-use property was based on a three-year, interest-only term. It was arranged through NorthMarq’s relationship with A-10 Capital. The building’s largest tenant is San Tan Learning Center, a charter school that occupies four for the site’s seven buildings. NorthMarq’s team was led by Jim Cooper, vice president of the firm’s Phoenix regional office.
ARVADA, COLO. – Phase I of the 34,317-square-foot Arbor Village retail center in Arvada has sold to JP Arbor Village LLC for $7.4 million. The property consists of a strip center and two individual retail pads that are currently occupied by Taco Bell Corporation and Wendy’s International. Riki Hashimoto and Dan Grooters of Grubb & Ellis’ Private Capital Markets group represented the seller, in conjunction with David Spriggs of Legend Retail Group. JP Arbor represented itself.