RICHMOND, CALIF. — Colliers International has sold 13.64 acres at Richmond Parkway and Goodrich Avenue in Richmond to Maggiora & Ghilotti for an undisclosed sum. The property had been in escrow for four years pending environmental cleanup. Ted Gallagher of Cassidy Turley, BT Commercial represented Maggiora & Ghilotti. Todd Severson of Colliers’ Oakland, Calif., office represented the seller, Murray Parkway Partners, LLC.
Western
PHOENIX – The 92-unit Brittany Apartments in Mesa and the 128-unit Cheyenne Pointe in Phoenix have been sold by Colliers International in Greater Phoenix for $3.5 million. The Brittany Apartments was sold to Rich Huang with Good Environment, LLC, for $1.9 million. The seller was Summit Equity Investments. Financing was arranged by Brandon Harrington of Cohen Financial. Cheyenne Pointe was sold to Paying Cash for Homes, LLC for $1.6 million. The seller was Wilson Property Services, the property’s court-appointed receiver. Bill Hahn, Jeffrey Sherman and Trevor Koskovich of Colliers’ Phoenix office represented both the buyers and sellers in these transactions.
TUALATIN, ORE. –– Progress Ridge TownSquare, a $100-million, 20-acre mixed-use, entertainment and shopping destination in Tualatin, has gained a handful of new tenants. The 325,000-square-foot center welcomed Ace Hardware, which occupies 13,000 square feet; Fulcrum Fitness, which will lease 3,100 square feet; Black Eagle Martial Arts, which will take 1,430 square feet; and Sweet Siren Boutique, which leased 1,300 square feet. Black Eagle expects to open in late January or early February. Fulcrum Fitness will debut in February. Gentle Dental, T-Mobile and Ava Roasteria also recently opened at Progress Ridge. These new tenants bring Progress Ridge’s occupancy rate to 90 percent.
SAN DIEGO — The U.S. Military Entrance Processing Command (USMEPCOM) has occupied a 27,634-square-foot office in San Diego. The U.S. General Services Administration signed a 10-year lease at the facility, which is located at 4181 Ruffing Road. Jones Lang LaSalle’s Kate Brennan, Jessica Kokish and Jeff Ingham represented the government in this transaction. The building’s owner, REIT Management, was represented by Melissa Chester.
LAS VEGAS – Vestarand its joint venture partner, Rockwood Capital, have received a $50-million loan for The District at Green Valley Ranch in Las Vegas. The JV had initially paid $79 million in all cash this past October to acquire the 384,107-square-foot retail center. The loan features a 4.4 percent fixed rate for five years.
PEORIA, ARIZ. – The 240-unit Enclave at Paradise Lane apartment community in Peoria has sold to Baron Properties for $26.9 million. The new owner is planning to upgrade the property’s common areas and enhance its interior. It was 92 percent occupied at the time of sale. Tyler Anderson, Sean Cunningham and Asher Gunter of CBRE’s Phoenix office represented the seller, Sherman Residential, in this transaction.
LOS ANGELES — Marcus & Millichap Capital Corporation has arranged $14,050,000 in interest-only refinancing for a three-property multifamily portfolio. The Southern California-based properties were built in 1962 and total 92 units. The loan carries a 4.225 percent interest rate and a 65 percent loan-to-value. It also offers substantial pay-off flexibility. The loan was arranged by Dan Litman of MMCC’s West Los Angeles office.
GLENDALE, ARIZ. – The 93-unit Village Sereno apartment community in Glendale has sold to Village Sereno Townhomes, LLC for $10,250,000. The property was built in 2009 at 8622 North 59th Ave. Mark Forrester and Ric Holway of Hendricks & Partners’ Phoenix office represented the seller, JGM Group, LLC, an Arizona limited liability company/Trojan Air Services, Inc.
DOWNEY, CALIF. – 88 Logistics has leased a 104,175-square-foot distribution facility in Downey. The five-year lease is valued at $2.2 million. The logistics firm was represented by Larry Kliger of Lawrence Allen. Heger Industrial's Robert G. Thornburgh and Tom Holland represented the building’s owner in this transaction.
GOLETA, CALIF. — Twenty Four 7 Moving Specialists has leased a 20,400-square-foot warehouse in Goleta. The moving and storage company plans to utilize this facility, which is located at 26 Castilian Drive, for classic and luxury auto storage. The company was represented by Dan Moll of Hayes Commercial Group. The building’s landlord, Luria & Dunn, was represented by Francois DeJohn, Steve Hayes and Kristopher Roth of Hayes Commercial Group.