LAS VEGAS — CB Richard Ellis has closed the $4.8 million sale of the Sahara Rainbow Center, located at 2350 S. Rainbow Boulevard in Las Vegas. Omninet Sahara LLC purchased the 53,000-square-foot retail complex. CBRE’s Charles Moore and Marlene Fujita represented the seller in the transaction.
Western
IDAHO FALLS, IDAHO — CB Richard Ellis has closed the $4 million sale of the 220,000-square-foot Yellowstone Square, a retail center located in Idaho Falls. West One Logistics purchased the property, which was part of a 22-property, nationwide portfolio owned by General Growth Properties. CBRE’s Eric Gustafson and Craig Thomas represented GGP, which recently emerged from a Chapter 11 bankruptcy restructuring, in the transaction.
VISTA, CALIF. — Hendricks & Partners has brokered the $7.35 million sale of the 64-unit Mountain View, an apartment community located at 1370 Calle Jules in Vista. Built in two phases in 1975 and 1980, the multifamily complex features one studio unit, 22 one-bedroom units and 41 two-bedroom units. Hendricks & Partners’ Allen Chitayat represented the Del Mar, Calif.-based seller, M.S. Browar Family Trust/Okovita Family Revocable Trust, in the transaction, and Ray Adams of Cassidy Turley BRE Commercial represented the Rancho Palos Verdes, Calif.-based buyer, 46 East 57th Street LLC. Financing in the amount of $4.4 million was arranged by Ron Hernandez of Union Bank.
MESA, ARIZ. — Cassidy Turley BRE Commercial has presided over the $3.8 million trade of a more than 152,000-square foot distribution building located at 225 S. Dobson Road in Mesa. The John W. Widera and Leslie Maria Widera Living Trusts purchased the industrial property from San Francisco-based Krausz Puente LLC. Built in 1973, the facility was the former home of Levitz Furniture and will be the new home of Arizona Corrugated Container LLC, a company operated by the new owner. Cassidy Turley BRE Commercial’s Mike Haenel, Andy Markham, Bob Buckley, Steve Lindley and Tracy Cartledge represented the seller in the transaction, and the brokerage firm’s Brian Lee represented the buyers.
GREEN VALLEY, ARIZ. — Grubb & Ellis has represented the Corporation of the Presiding Bishop of the Latter-day Saints in its $1.3 million purchase of 5.4 acres of land at the northwest corner of Desert Bell and La Canada in Green Valley. The parcel will be used for a church, the construction of which will commence later this year. Grubb & Ellis’ Jeff Utsch represented the buyer in the transaction, and the seller, WLC Green Valley Ltd. Partnership, represented itself.
TUCSON, ARIZ. — Stan Johnson Co. has negotiated the sale of a 37,540-square-foot retail building, located within the North Pima Center at 3749 W. Ina Road in Tucson, to a Dallas-based private investor. Fully leased to Michaels and Ace Hardware, the property was listed for more than $4.43 million. T. Reed Hudson of Stan Johnson Co. represented the seller, a Los Angeles-based investor, in the transaction.
MOORPARK, CALIF. — Lee & Associates-LA North/Ventura brokered the more than $2.66 million sale of a 16,391-square-foot industrial building located within the Patriot Commerce Center at 875 Patriot Drive in Moorpark. While most of the buildings at the Ventura County center are fully built out, the two units acquired by ProDoc are in shell condition allowing the buyer to tailor the facility to its specifications. Lee & Associates’ Mike Tingus, Grant Fulkerson and Scott Linklater represented the developer, M.W. Ossola & Associates, in the transaction, and Tom Siciliano of TDS Management represented the buyer.
CULVER CITY, CALIF. — Colliers International has presided over the almost $2.69 million trade of a 2,250-square-foot Starbucks Coffee store, located at 12313 Jefferson Blvd. in Culver City. Built in 2007, the single-story, single-tenant retail building has a corporate-guaranteed lease by the renowned Seattle-based coffeehouse chain. Colliers’ Kathleen Silver and Kay Thorpe represented the private-investor buyer in the transaction, and the brokerage firm’s Jereme Snyder represented the seller, Olive Investment Group LLC.
TUSTIN, CALIF. — Lee & Associates has brokered the $3.82 million sale of the 24,814-square-foot Franklin Court, an industrial building located at 14262 Franklin Ave. in Tustin. Built in 1982, the property consists of two fully leased units. Lee & Associates’ Brian Garbutt and Phil Cohen represented the seller, H&H Properties, in the transaction, and Dennis and Jordan De Meis of Southwest Commercial represented the buyer, TWR Properties LLC.
MESA, ARIZ. — Cassidy Turley BRE Commercial has completed the $3.7 million sale of Falcon Commerce Park, a multi-tenant industrial property located at 1610, 1660 and 1750 N. Rosemont in Mesa. Hyatt Investments USA LLP purchased the three-building, 74,446-square-foot complex, which was built in 2009, from Arizona Graystar Return LLC. Cassidy Turley BRE Commercial’s Paul Boyle and Rick Danis represented the seller in the transaction, and Andrew Jaffe of Commercial Properties represented the buyer.