SYLMAR, CALIF. — Corner Records Management, LLC has signed a five-year lease for 80,480 square feet of industrial space at the Valley Gateway Business Park in Sylmar. The space features 7,000 square feet of office space. Ray Howden of Cushman & Wakefield represented Corner Records. Chris Sullivan of DAUM’s San Fernando Valley office represented thelandlord, World Oil Corp, in this transaction.
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SCOTTSDALE, ARIZ. — A 34,768-square-foot industrial building in Scottsdale has sold to a Phoenix-based partnership for $3 million. It was developed in 1999 as a build-to-suit facility for The Arizona Republic, however, the building has been vacant for more than two years. Rick Foss of NAI Horizon represented the Phoenix partnership. Kyle Westfall and Pat Harlan of Cushman & Wakefield represented the seller, Gray Road Properties, LLC, in this transaction.
DENVER – A 30-unit apartment building located at 1225 Colorado Blvd. in Denver has sold to an unnamed buyer for $2,125,000. Kyle Malnati of Madison Commercial Properties represented the buyer. The seller was represented by John Laratta of Hendricks & Partners.
DENVER – Halliburton has committed to creating a major sand terminal that will accommodate more than 500 of the company’s employees inside the Great Western Industrial Park in the Denver-Julesburg (DJ) Basin. This new project will serve energy production demand in the DJ Basin and Niobrara Formation. The sand storage facilities will be built on a 54-acre site within the park. Construction will commence this quarter, while operations will begin in the second quarter. The Great Western Industrial Park was developed by The Broe Group.
DENVER – One Lincoln Park, which consists of four retail condos, sold to White Crown Federal Credit Union for $1,254,795. The condos are located at 2001 Lincoln Street in Denver. The property was sold by EO, LLC dba Tower One Venture. White Crown was represented by Kittie Hook of Cassidy Turley Fuller Real Estate.
PHOENIX — Phoenix Peak, an 89,099-square-foot office building in Phoenix, has sold to Alvarado Realty for $10,225,000. The three-story building was constructed in 1986 and was 87 percent leased at the time of sale. Bob Buckley, Tracy Cartledge and Steve Lindley with Cassidy Turley BRE Commercial’s Capital Markets Group represented both the buyer and the seller, Real Estate Value Advisors.
MESA, ARIZ. – The 76-unit Rosewood Villas in Mesa have sold to InSite Properties Rosewood LLC for $2.6 million. The apartment complex was built in 1980. It is located at 210 North Alma School Road. Mark Forrester and Ric Holway of Hendricks & Partners’ Phoenix office represented the seller, Tamwood Limited Partnership.
PETALUMA, CALIF. – The Petaluma Marina Business Center, a three-building, Class A office building totaling 116,380 square feet, has gained four new tenants. Cellular World has leased 2,200 square feet; H.M. Vreeland and Son Insurance Agency is occupying 941 square feet; Grade A Tutoring Center has taken 1,072 square feet; and Hanford ARC has moved into 842 square feet. Cellular World, H.M. Vreeland and Grade A each signed three-year leases. Hanford signed a one-year lease. Mike Thomason of Keegan & Coppin Company represented the center’s landlord, Basin Street Properties, in these lease transactions.
MESA, ARIZ. – Mitel has signed a 10-year lease for 83,264 square feet of office space at Riverview Point in Mesa. The company will use the space for its new U.S. headquarters. The office building was constructed in 2009 as part of the master-planned Mesa Riverview Project. Mitel was represented by Robert Stephens, Kurt Saulnier and Tricia Gumulka of Grubb & Ellis’ Industrial Group, along with Steven Morgan of the firm’s Atlanta office. Bryan Taute and Michael Strittmatter of CBRE acted on behalf of the building’s landlord, private investors.
WESTWOOD, CALIF. – A nine-unit apartment building in the Los Angeles submarket of Westwood has sold to TSI Property Management, LLC for $2.37 million. It closed at a 5.1 percent cap rate. The property was built in 1991. TSI was represented by Kimberly Roberts Stepp with Charles Dunn Company. The property was listed and sold by The Soroudi Group at Charles Dunn Company. The seller, GSR Apartments, LLC, was represented by Hamid Soroudi.