BELLEVUE, WASH. – The Avalon Meydenbauer Shopping Center in Bellevue has received $6.8 million in financing. The mixed-use development was built in 2007 and contains a North Building and a South Building. The North Building features 9,601 square feet of retail, while the South Building boasts 9,837 square feet of retail for a total of 19,438 square feet. The center also features a 55,000-square-foot Safeway and five levels of apartments atop the retail. Neither was included in this collateral. Financing was arranged by John M. Stewart and Brock Yaffe out of NorthMarq’s Denver office for the California-based borrower.
Western
SAN BERNARDINO, CALIF. — Grant & Bowman have signed a 36-month lease for a 141,200-square-foot industrial space at 1050 Orange Show Road in San Bernardino. The company was previously located in nearby Ontario. It was represented by Jeff Smith of Lee & Associates’ Ontario office. The landlord, Investment Building Group, was represented by Herrick Johnson of Lee & Associates’ Riverside office.
PETALUMA, CALIF. – Safeway has opened a new 63,467-square-foot lifestyle store at a former Mervyns location within the Washington Square Shopping Center in Petaluma. The team of Mark Koenig, John Schaefer, Dan Wald, James Chung, Patrick McGaughey and Sam Finne of Terranomics Retail Services represented Macerich, which owns the former Mervyns space, in this transaction.
PHOENIX — Colliers International of Greater Phoenix has sold the 26-unit Metro 1 Townhomes and 64-unit Casa Nueva apartment community in two separate transactions for a combined total of $5,475,000. Metro 1 sold to Calista Real Estate, LLC for $3,375,000 from IMH. The transaction included 22 units that were acquired as fee simple and three units acquired by notes secured by the individual units. Casa Nueva was sold to California Capital Real Estate Advisors for $2.1 million from ATC Realty One, LLC. Colliers’ Bill Hahn, Jeffrey Sherman and Trevor Koskovich represented the buyers and the sellers of both transactions.
VANCOUVER, WASH. — Watumull Properties Corp. has purchased a 61,350-square-foot light industrial building in Vancouver for $3,150,000. Watumull was represented by Greg Nesting of Norris and Stevens. Brian Sullivan of Coldwell Banker Bain Commercial represented the seller, Dekas, LLC. Norris and Stevens will manage the property.
PHOENIX — U.S. Citizenship and Immigration Services has signed a 10-year lease for a 46,081-square-foot field office at 1330 South 16th Street in Phoenix. This lease represents an adaptive-reuse/urban renewal project with the GSA. The project revitalized an abandoned facility at the infill site and is now seeking LEED-CS (core and shell) certification. The government was represented by Julie Rhoades, Suzanne Drake and Yolanda Morgan of Jones Lang LaSalle. Lynn Newhall of DOXA Centralrepresented the building’s owner, DOXA South, LLC.
LOMPOC, CALIF. – Marshalls has leased 24,050 square feet at the Lompoc Shopping Center. It will join other notable retailers such as Petco, Staples, Vons, Michael’s and Pier 1. Marshalls was represented by Anthony Mansour of The Clover Company. The Lompoc Shopping Center is owned by Brixmor Property Group.
DENVER – The 22-unit Central Denver apartment building located at 1160 Colorado Blvd. has sold to an unnamed buyer for $1,645,000, or $74,772 per unit. The property was built in 1946 and has undergone significant capital improvements. The buyer was represented by Jeff Johnson and Matt Ritter of Pinnacle Real Estate Advisors in Denver. Cinema Realty’s Kary Ohan represented the seller, who was also unnamed.
LOS ANGELES — Voit Real Estate Services has recently sold two industrial properties totaling 47,620 square feet within the Los Angeles area for $4.8 million. The first property is a 28,300-square-foot industrial building at 16000 Phoebe Ave. in La Mirada. It sold to Evergreen Packaging for $2.7 million. Evergreen was represented by Grubb & Ellis. Cameron Driscoll and Luke McDaniel of Voit’s Anaheim office represented the seller, InSite Realty Advisors. The second sale involved a 19,320-square-foot, single-occupant industrial building at 9046 Sorensen Ave. in Santa Fe Springs. It sold to Steven Label for $2.1 million. Steven Label was represented by Lee and Associates. Driscoll and McDaniel also represented this seller, Kearny Real Estate Company.
SAN FRANCISCO — Klingbeil Capital Management (KCM) has sold a two-property multifamily portfolio that is based in San Francisco. The assets were sold in December as a portfolio transaction. The first property was the 40-unit Noe Peak Apartments in San Francisco’s Noe Valley neighborhood. The apartment community has received more than $1.1 million of improvements over the past two years. The second property was the Eddy Street Apartments, which resides in the Tenderloin district.