IRWINDALE, CALIF. — Superior Communications has renewed its lease for 225,030 square feet at 5027 Irwindale Avenue in Irwindale. The property serves as the company’s corporate headquarters and distribution facility. The lease is valued at $14 million. Superior was represented by Studley’s Joshua Gorin and Marcus Arredondo. The building is owned by Clarion Partners, who was represented by Phil Lombardo of Cushman & Wakefield.
Western
BOULDER, COLO. — NorthMarq’s Denver regional office has arranged permanent financing of $3.3 million for Walnut Gardens, a neighborhood retail center in Boulder. The 38,965-square-foot center was built in 1977 and is fully leased and occupied. Financing was arranged by NorthMarq’s Greg Benjamin, senior vice president, and Jim DiRienzo, senior investment analyst. It was arranged for a long-term client of the firm’s Denver office.
SANTA MONICA, CALIF. – CB Richard Ellis has sold a39,128-square-foot office building in Santa Monicathat used to serve as the headquarters of The Recording Academy for an undisclosed sum. The Recording Academy is the institution responsible for the GRAMMY Awards. Also included in this sale were two adjacent residential parcels. One parcel is vacant, the other contains unoccupied apartment buildings. The buildings were sold to TC Pico Development, LLC from NARAS Properties, Inc., an affiliated entity of The Recording Academy. CBRE’s Ron Wade, Stan Gerlach, Blake Mirkin, Mark Perry, Laurie Lustig Bower and Kadie Presley represented both the buyer and the seller in this transaction.
REDONDO BEACH, CALIF. — Internap Network Services Corporation has leased a 136,000-square-foot building in Los Angeles’ South Bay submarket. Internap was represented by the Jones Lang LaSalle Critical Solutions teams of Michael Siteman, Mike Dolan and Darren Eades. The landlord, KTR South Bay, was represented by Luke Staubitz, Harvey Beesen and Andrew Dilfer in the Los Angeles office of the Klabin Company/CORFAC International.
SAN JOSE, CALIF. — DHL Solutions (USA) has renewed its lease at two warehouse facilities in the Prologis Trimble Park in San Jose. The total amount of space the company is leasing here totals 82,800 square feet. The first warehouse/distribution building is 49,733 square feet and located at 450 Trimble Road. The second facility is 33,067 square feet and located at 470 Trimble Road. Greig Lagomarsino of Colliers International’s Oakland office represented DHL Solutions. Prologis is the landlord.
BREA, CALIF. — Harmony Properties, LLC has purchased a 45,560-square-foot industrial property at 1425 Moonstone Street in Brea for at $4.055 million. Harmony was represented by Luke Hudson of Lee & Associates in Orange, Calif. The seller, PSIP CAM Brea LLC, an affiliate entity of Los Angeles-based Cohen Asset Management, was represented by Ian Britton and John Long, both based in Colliers’ Orange County office, along with Tom Dorman of CBRE
PHOENIX – The 224-unit Fountain Oaks apartment community in Phoenix has sold to Summit Equity Investments for $8.3 million. The property, located at 1225 N. 40th Street, was built in 1983 and consists of about 158,814 square feet. Summit Equity represented itself in this transaction. Cindy Cooke, Brad Cooke and Carrie Burton of Colliers International’s Phoenix office represented the seller.
RIVERSIDE, CALIF. — CT Realty Investors has sold two office buildings at Citrus Park West business park in Riverside to the County of Riverside for $6.6 million. The two office buildings are located at 3125 and 3075 Myers Street. They total 78,116 square feet and used to serve as the national headquarters for Fleetwood Enterprises. CT Realty was represented by Dave Mudge and Tom Pierik of Lee & Associates’ Downtown Riverside office.
FOOTHILL RANCH, CALIF. — DAUMCommercial Real Estate Services has sold a 9,426-square-foot industrial building in Foothill Ranchto AMP Trust for $1,250,000, or $133 per square foot. The property is located at 27211 Burbank Street. AMP Trust was represented by Chris Migliori of the firm’s Orange County, Calif. office. The seller was represented by Lee & Associates.
ESCONDIDO, CALIF. – Realty Income, which is based out of Escondido, Calif., has acquired a 12-property industrial portfolio that spans across eight states in a sale leaseback. The portfolio contains a total of 300,000 square feet that is currently leased to one of the nation’s largest environmental services companies. Financial terms were undisclosed. David Sobelman, Calkain Companies’ executive vice president, and Doug Wright, director of the firm’s industrial division, represented the private equity firm that managed the operational transaction.