SAN DIEGO — Richard Conner of Conner Family Trust has sold a 72,712-square-foot industrial building, located at 4370 Jutland Dr. in the Clairemont area of San Diego, to FFP Ltd. for $3 million. Originally developed in 1967, the property is situated just east of Morena Blvd. and north of Costco. Cushman & Wakefield’s Deborah Hunkeler and Colliers International’s Jay Arnett represented the seller in the transaction.
Western
PHOENIX — Colliers International has negotiated the $5.96 million acquisition of the 141,784-square-foot Arcadia Corporate Center, located at 3102 North 56th Street in Phoenix. Colliers’ Todd Noel and Keith Lambeth represented the buyer, Great Hearts Academies of Phoenix, in the transaction, and Joe Holeva of Praedium Advisors represented the Scottsdale, Ariz.-based seller, 3102 N56 LLC. Situated on approximately 13.5 acres in the elite Arcadia neighborhood, the two-story, campus-style building will be the home of Veritas Preparatory Academy (grades 6-12), Archway Classical Academy–Veritas (K-5) and Great Hearts Academies’ headquarters.
CASTLE ROCK, COLO. — Pinnacle Real Estate Advisors has closed the almost $4.23 million sale of Winrock Apartments, a 64-unit apartment complex located at 906-1094 South Street in Castle Rock. Constructed in 1973, the multifamily property consists entirely of two-bedroom/one-bathroom units. Pinnacle Real Estate Advisors’ Jeff Johnson and Matt Ritter assisted the seller in the transaction, and Unique Properties assisted the buyer.
POWAY, CALIF. — DCR Real Estate III Sub 1 LLC has sold an 11,768-square-foot industrial building, located at 12169 Kirkham Road in Poway, to Kevin Clark and Cindy Clark for $1.2 million. Brent Bohlken of Grubb & Ellis represented both parties in the transaction.
LOS ANGELES — Investment Real Estate Associates has brokered the $8.4 million acquisition of Sunset Pacifica, a 17-unit mixed-use building located at 17351 West Sunset Boulevard in the Pacific Palisades area of Los Angeles. IREA’s Clark Everitt and William Everitt represented the buyer, Jake Mathews and 9 Mile Investments, in the REO transaction, and Jones Lang LaSalle represented the Seller, 17351 W. Sunset Blvd. Inc.
NORTH LAS VEGAS — CB Richard Ellis has presided over the $9.75 million trade of an approximately 219,068-square-foot distribution building located at 4335 Arcata Way in North Las Vegas. CBRE’s Greg Tassi represented both the buyer, Bixby Land Co., and the seller in the transaction.
SEATTLE — The joint venture of Madison Marquette and LaSalle Investment Management has recapitalized the 108,000-square-foot Broadway Market, an urban center in the Capitol Hill neighborhood of Seattle. Developed in 1987 and first acquired by Madison Marquette in 1999, Broadway Market includes Urban Outfitters, upscale grocer QFC and Gold’s Gym. Retailers occupy the first two stories of a 33-unit residential complex with garage parking for 223 vehicles. Madison Marquette will continue to manage and lease the center under the joint-venture agreement.
OMAK, WASH. — Bluestone & Hockley Real Estate Services has presided over the $2.75 million sale of The Omak Inn, located at 912 Koala Drive in Omak. The hospitality property consists of 67 mini-suite guest rooms. Bluestone & Hockley’s Brian Resendez represented both the buyer, Sukhleen LLC, and the seller, Omak Inn LLC, in the transaction.
FORT COLLINS, COLO. — NorthMarq Capital has arranged a $5.85 million loan for the 47-unit Flats at the Oval, a 56,899-square-foot, four-story student apartment property located at 306 West Laurel Road in Fort Collins. Developed and constructed in 2010 by local firm, Brinkman Partners, the building includes 4,791 square feet of commercial space in two suites. NorthMarq’s Steve Koeneke and Chris Williams arranged the financing through a life company correspondent.
COMPTON, CALIF. — Grubb & Ellis has brokered the $5.3 million purchase of a 71,360-square-foot warehouse facility, located at 18747 S. Laurel Park Road in Compton. The brokerage firm’s Sean O’Donnell represented the buyer, C&W Investment Group, in the transaction, and The Klabin Co.’s Frank Schultz represented the seller, TA Realty Associates. C&W plans to renovate and add loading doors to the building, which was originally constructed in 1973.