PHOENIX — The 414-unit Station on Central Apartments, located at 4140 N. Central Ave. in Phoenix, has sold for $36.5 million to Colorado-based Baron Properties. Baron has already begun upgrading the clubhouse and exercise facility, painting the exterior of the property and upgrading the courtyard and pool facilities. Brad Goff and David Lord of ARA's Phoenix office represented the seller, 4140 N. Central Ave. Holdings
Western
OCEANSIDE, CALIF. — The 203,779-square-foot former Ashworth Golf industrial building, located at 4010 Ocean Ranch Blvd. in the Ocean Ranch Corporate Centre in Oceanside, has been sold to a joint venture between Alliance Commercial Partners and American Realty Advisors. The property also contains an additional 6 acres of excess buildable land. The seller, Lloyd Wells Gift Trust, was represented by Mike Erwin of Cassidy Turley | BRE Commercial's Carlsbad, Calif., office. The buyer was represented by Tucker Hohenstein of Colliers International's Carlsbad office.
CHINO, CALIF. — Taylored Services has signed a 203,000-square-foot lease, located at 14211 Monte Vista Ave. in Chino, to expand its regional distribution center. The tenant was represented by Tim Pimentel, Chuck Belden and Kyle Kehner of Cushman & Wakefield's Inland Empire, Calif. office. Chris Brandt, Sam Foster and Mike Fowler of Jones Lang LaSalle's Los Angeles office represented East Group Properties, the landlord.
SEATTLE — The Institute for Systems Biology (ISB) opened its new global headquarters, 140,000 square feet of Class A office and laboratory space in Vulcan Real Estate's 401 Terry Ave. building in Seattle. The move will enable the institute to double the size of its facility over the next decade.
SAN PEDRO, CALIF. — The 318-unit The Vue, located in San Pedro, has been sold for $80.1 million to San Francisco-based Carmel Partners. The 16-story residential tower contains 24 individually owned units and 294 rental units. Amenities include a fitness center, entertainment center and a pool with a spa, sundeck and cabanas. The seller, a foreign bank, was represented by Javier Rivera of Jones Lang LaSalle's Los Angeles office, David Young of the Seattle office, Jeff Morris of the Orlando, Fla., office and Denny St. Romain of the Miami office.
GLENDALE, CALIF. — Mesa West Capital has provided a $24.5 million loan to capitalize 207 Goode, an office building off Brand Boulevard in Glendale. The building was completed in 2009 as a speculative development by MPG Office Trust. The new owners — a joint venture between Morgan Stanley Real Estate and Lincoln Property Co. — acquired the building at a discount to replacement cost in a short sale in October 2010. The building is largely vacant, but ownership has been in discussions with a number of tenants.
UNION CITY, CALIF. — Denver-based Terrix Financial Corp. has arranged a $26.3 million acquisition loan for the purchase of the 250-unit Greenhaven Apartments, located in Union City. The loan, which was provided by a Fannie Mae DUS Lender, includes a 10-year fixed interest rate of 5.5 percent and a 2.5 year interest only period followed by a 30-year amortization. Kevin Chadwick and Rick Oleson of Terrix arranged the loan.
PHOENIX — Orlando, Fla.-based Custom Fab has signed a 60,971-square-foot lease at 3085 S. 43rd Ave. in Phoenix. The multi-year lease is designed to offer Custom Fab added expansion and development capabilities for their new state-of-the-art glass lining facility. Jeff Hays and Chard Neppl of Phoenix-based NAI Horizon represented the landlord, Arlington, Texas-based Kinro.
LAS VEGAS — The 341-unit Colonial Grand at Palm Vista, located at 6300 McCarran St. in Las Vegas, has been sold for $40.9 million. Amenities include clubhouse, fitness center, pool and spa. The buyer, Birmingham, Ala.-based Colonial Properties Trust, was represented by Jim Fisher of Lee & Associates-LA North/Ventura and Stephen Peters of Lee & Associates-Investment Services Group. The seller was Ovation-AGT.
REDMOND, WASH. — San Rafael, Calif.-based W3 Partners has purchased the 101,000-square-foot, Class A building, located at 18300 Redmond Way in Redmond, for $14.19 million. Legacy Partners completed the building in 2008 and the property went into foreclosure in 2010. The property, formerly known as Legacy Corporate Center, is currently vacant. W3 has selected Seattle-based Urban Renaissance Group as its property manager.