RANCHO CORDOVA, CALIF. — Hendricks & Partners has sold the 72-unit Fountain Crest apartment complex in Rancho Cordova for $2.1 million. Located at 2719 Mills Park Drive, the complex was purchased by Fountain Crest Apartments. Steven A. Nelson and Al R. Inouye from Hendricks & Partners’ Sacramento office represented both the buyer and the seller, CPR Properties, Inc. (Chase Bank), in this transaction.
Western
LOS ANGELES — Marcus & Millichap Real Estate Investment Services has sold a 16-unit apartment building located at 1343-1349 N. Martel Ave. in Los Angeles to a limited liability company for $2.5 million. The complex, which contains 12,080 rentable square feet, was built in 1960 and consists of one- and two-bedroom units. Tony Azzi, senior vice president investments in Marcus & Millichap’s West Los Angeles office, listed the property exclusively on behalf of the seller, a private investor. The buyer was represented by Greg Harris and Jeff Benson of Marcus & Millichap’s Encino office.
SAN DIEGO — West Bernardo Corporate Center has reached 100 percent occupancy after two new leases were completed. Zarlink Semiconductor recently renewed its 15,121-square-foot space for 72 months, while D&K Engineering signed a new lease for 15,090 square feet for 60 months. Located at 15822 Bernardo Center Road in the Rancho Bernardo submarket of San Diego, West Bernardo Corporate Center is a 60,344-square-foot flex office building. Zarlink Semiconductor was represented by Alex Hayden of Cushman & Wakefield, while David Marino and Shane Poppen of Hughes Marino represented D&K Engineering. Jones Lang LaSalle’s Jay Alexander and Ryan Grove represented the landlord, Arden Realty, in both lease transactions.
DENVER – The Sky Ridge Medical Center has signed a new orthopaedic practice, led by Dr. John Xenos. The first phase of the orthopaedic surgeon’s practice will consist of about 3,000 square feet that is set to open at Sky Ridge in September. It will reside within the Aspen Building, located at 10099 Ridge Gate Parkway in Lone Tree, Colo. Dr. Xenos, who plans to partner with orthopaedic surgeon Dr. Anthony Sanchez, is moving his practice from the Steadman Hawkins Denver Clinic to Sky Ridge. The new practice will be called Colorado Orthopaedics. Jecoah Byrnes, a leasing associate at CBRE, and Matthew Leiner, a leasing associate with CBRE Denver’s Healthcare Services, handled both sides of the transaction.
SANTA ANA, CALIF. — AFTCO Mfg Co has purchased a 117,000-square-foot industrial building in Santa Ana for $8,121,079. The fishing rod components manufacturer was represented by Chip Dever with NAI Capital’s Orange County office. The seller, Burtin Realty Enterprises, was represented by Ross Bourne of CB Richard Ellis.
TUKWILA, WASH. – Marcus & Millichap has sold the 39-unit Riverton Ridge Apartments for $3.2 million. The complex was built in 1987 and is composed of four three-story buildings. Marc Cunningham, an investment specialist in the firm’s Seattle office, marketed the property exclusively on behalf of the seller, a limited liability company.
NORTH HOLLYWOOD, CALIF. – Klump Gardens, a 32-unit apartment complex that resides in the North Hollywood (NoHo) arts district, has sold to 5051 Klump Ave LLC for $5.3 million. The 24,735-square-foot building was built in 1985. Both the buyer and the seller, FMS Holdings IV, were represented by Rod Delson of NAI Capital’s Westlake Village, Calif., office.
ROWLAND HEIGHTS, CALIF. – Johnson Capital has arranged an $11-million loan for the 225,808-square-foot Mandarin Plaza retail center in Rowland Heights. Located at 18900 – 18932 E. Gale Ave., Mandarin Plaza was built in 1984 and renovated in 2010. It is fully leased. Tenants include 99-Ranch Market, a 135-room Best Western Hotel, and more than 20 additional shops and restaurants. The debt was provided by John Hancock Life Insurance Company. Financing was arranged by Greg Richardson, managing director, and Scott Watson, vice president of Johnson Capital’s Irvine, Calif., office.
SAN JOSE, CALIF. — Nimble Storage has relocated and expanded to a 34,395-square-foot office in San Jose that it is subleasing from StarCite. The Class A space resides within the Valley Technology Centre office park. Nimble Storage’s current operation is across the street from its future home. It occupies 13,500 square feet at 2645 Zanker Road. The company believes its move will be complete by October 2011. Nimble Storage was represented by Dave Tipton and Steve Lico of CresaPartners in Palo Alto. StarCite was represented by Colliers Parish in this transaction. Valley Technology Centre’s landlord is Equity Office Properties.
LOS ANGELES — Colliers International has sold a 34,320-square-foot, mixed-use building in Los Angeles to E-Tokyo Gateway LLC for $3,935,000. The five-story office and retail building is located in Downtown Los Angeles’ Little Tokyo neighborhood. The seller, Little Tokyo LLC, was represented by Kathleen A. Silver and Kay Thorpe of Colliers’ West Los Angeles office.