CARSON, CALIF. – Herbalife International has leased 148,908 square feet of industrial space at Dominguez Technology Center, a master-planned business center in Carson. The new facility will allow Herbalife to nearly double the size of its West Coast distribution center, which currently occupies an 82,471-square-foot building in Carson. Jones Lang LaSalle’s Mike McRoskey, Tim O’Rourke, Frank Scott and Barry Hill represented Herbalife, which signed a 10-year lease. The facility's owner, Watson Land Company, was represented in-house by Lance Ryan.
Western
LONG BEACH, CALIF. – Hendricks & Partners has sold the 30-unit Gotham City apartments in Long Beach for $2,425,000. It was purchased by Gotham Lofts, LLC. Hendricks & Partners' Robert Stepp represented the seller, Dorry H. Plotkin.
RENTON, WASH. – The 83-unit Borgata Apartment Homes in Renton has been sold to a joint venture between Grosvenor USA and MT Asset Management LLC for $13.2 million. MT Asset Management is a partnership between Mosaic Homes and Thrive Communities. The transaction was brokered by Philip Assouad and Giovanni Napoli of Kidder Mathews.
LONE TREE, COLO. – Westwood Financial Corp. has sold the 34,749-square-foot Heritage Hills Shopping Center in Lone Tree to Carlisle Properties for $11.4 million. Westwood had owned the property for 11 years before selling it to focus on investment opportunities in the Southeast. The 18-unit retail center is 96 percent leased. Cushman & Wakefield’s Patrick Devereaux and Gene Pride represented Westwood in the transaction.
RENO, NEV. – Dermody Properties/DP Partners has hired Douglas A. Kiersey, Jr. as its new president. The 27-year industry veteran will oversee the company's nationwide capital, acquisition, development and property management efforts. He will also chair the company's executive committee. Prior to joining Dermody, Kiersey had worked for ProLogis for 17 years.
LOVELAND, COLO. – NorthMarq’s Denver regional office has arranged $7.3 million in construction financing for Seven Lakes Memory Center in Loveland. Seven Lakes will be a 48-unit, 25,398-square-foot facility that provides assistant to those with Alzheimer’s disease and other forms of dementia. Future phases may include independent senior and assisted living facilities that would reside on-site in a separate building. NorthMarq’s Paul Bruder, senior vice president, and Chris Williams, senior investment analyst, arranged the financing for the borrower, Frontier Management LLC.
IRVINE, CALIF. – Western Realco LLC has purchased a 13-acre industrial property in Irvine for more than $19 million. The single-story, 183,000-square-foot property is located inside the Irvine Business Complex. It was last renovated in 2000, and is currently 97 percent leased. Grubb & Ellis' Gary Allen, senior vice president of the industrial group, and Robert Griffith, senior vice president of investment services, worked with Voit Real Estate Services to represent Western Realco in the transaction.
PHOENIX – CareCentrix, a benefit management company that specializes in home healthcare services, has leased 18,254 square feet at Squaw Peak Corporate Center. Squaw Peak is a two-building, four-story office complex in Phoenix. The new lease will allow CareCentrix to expand its operation once it relocates this fall. CBRE's Jerry Noble, Pat Devine and Greg Mayer represented Squaw Peak's landlord, Parkway Properties. JLL's Greg Bast represented CareCentrix. Exact terms of the lease were not disclosed.
EL SEGUNDO, CALIF. – The Admiral Capital Real Estate Fund, which is a partnership between USAA Real Estate Company and Admiral Capital Group, has purchased a 119,626-square-foot office building in El Segundo for an undisclosed sum. The fund is targeting value-add opportunities in major markets across the U.S. Its ideal transaction size is $25 million to $100 million.
LOS ANGELES — Charles Dunn Company has completed the sale of an 18-unit multifamily property in Los Angeles for $4.42 million. The property, located at 817 Wilcox Ave., was built in 2004. Charles Dunn's Michel Hibbert represented the buyer, 821 Wilcox Avenue, LLC. KW Commercial's David Meir represented the seller, 813 Wilcox LLC.