COLORADO SPRINGS, COLO. — Cushman & Wakefield of Colorado has brokered the $2.6 million sale of the 57,640-square-foot Centennial Commons, located at 4685 – 4705 Centennial Blvd. in Colorado Springs. Built in 1997 and 36 percent occupied at the time of sale, the property was sold by CW Capital Asset Management to a private California investor. Cushman & Wakefield’s Gene Pride and Patrick Devereaux advised on the deal.
Western
SAN DIEGO — Lee & Associates has arranged Zephyr Partners-RE LLC’s $7.6 million acquisition of a 0.32-acre land parcel, located at 1030 Pearl St. and 7522-7532 Herschel Ave. in the La Jolla area of San Diego. Currently improved with office and apartment buildings, the 27,687-square-foot parcel is fully entitled for 24 town homes. Zephyr plans to demolish the existing structures and break ground for a new development in the next 3 to 4 months. Lee & Associates’ Matt Weaver, Patrick Miller and Trevor Jensen represented the buyer in the transaction, and Colliers International’s Victor Krebs represented the seller, Pearl & Herschel LLC.
LAS VEGAS — CB Richard Ellis has brokered the sale of the more than 57,000-square-foot Shoppes at Canyon Pointe, located at 10800 W. Charleston Boulevard in Las Vegas. Terms of the deal were not disclosed. CBRE’s Charles Moore, Michael Newman and Marlene Fujita represented the seller, General Growth Properties, in its disposition of the 100-percent leased, multi-tenant retail/restaurant complex to Del Mar Partners.
SAN DIEGO — Cassidy Turley BRE Commercial has closed the $3.3 million purchase of the Diamond 24 Apartments, located at 1742 and 1754 Diamond Street in the Pacific Beach area of San Diego. Built in approximately 1967 and 1972, the Diamond 24 Apartments consist of adjacent eight-unit and 16-unit courtyard buildings. Cassidy Turley BRE Commercial’s Diane Miramontes, Darcy Miramontes and Kip Malo represented the buyer, and Grubb & Ellis’ Robert Vallera represented the sellers, Eric Moore, Martha Moffett, Roger Moore and Sara Moore, successor trustees under the Vincent/Sara Irrevocable Trust Agreement.
WEST HOLLYWOOD, CALIF. — Coldwell Banker Commercial WESTMAC has facilitated the $1.95 million sale of a 3,000-square-foot building, located at 8756 Holloway in West Hollywood, to a prominent tanning and skin care company. The three-level building was built in 1946 and completely renovated in 2009. Coldwell Banker Commercial’s T.C. Macker and William Althouse represented the seller in the transaction, and Beitler Commercial’s Daniel Chiprut and Jacques-Henri of Munro Commercial represented the buyer.
DENVER — In what is reportedly Downtown Denver’s largest lease transaction in approximately 3 years, Bridgepoint Education has signed a 151,331-square-foot office lease at the Park Central building located at 1515 Arapahoe Street. In the transaction, CB Richard Ellis’ Lee Diamond, Ty Ritchie and Chris Hook, as well as Chris Hobson of Cassidy Turley BRE Commercial, represented the San Diego-based provider of post-secondary education services, which is expected to occupy the pure expansion space by late summer. Cassidy Turley Fuller’s Doug Wulf and Robert Knisely represented the landlord, WSC 1515 Arapahoe Investors LLC, which is an entity of Walton Street Capital LLC and Means Knaus Partners LP.
EL CAJON, CALIF. — LeBeau Realty Advisors has arranged the nearly $2.08 million purchase of an 11-unit multifamily property, located at 420 Hart Drive in El Cajon. Built in 2008, the property consists entirely of three-bedroom/three-bath units. David LeBeau represented the buyer, Tracy and Cathy Patrick, in the transaction, and Pacific Multifamily Properties represented the seller, Mt Helix Real Estate Trust.
SAN DIEGO — Apartment Consultants Inc. has brokered the $1.2 million acquisition of a 10-unit apartment property located at 3151-69 Lincoln Ave. in the North Park area of San Diego. Built in 1952, the multifamily complex consists of all one-bedroom/one-bath units. ACI’s Norm Root represented the buyer, James and Margaret Blankinship, in the transaction; the seller, L-20 LLC, represented itself.
ONTARIO, CALIF. — Walker & Dunlop LLC has provided a more than $5.67 million loan secured by Cinnamon Ridge Apartments, located at 1051 E. 4th Street in Ontario. Underwritten to a 75 percent loan-to-value ratio, the refinancing was structured with a 10-year term and a 30-year amortization. Greg Richardson of Johnson Capital originated the loan, and Andrew Tapley led the Walker & Dunlop team. Ninety-five percent leased at closing Cinnamon Ridge is an age-restricted (55 years or more), garden-style apartment community with a mix of one- and two-bedroom units.
GLENDALE, ARIZ. — Marcus & Millichap has negotiated the $3.5 million acquisition of a 14,552-square-foot BevMo! store, located at 6712 West Bell Road in Glendale. The tenant is currently occupying the single-tenant, net-leased property under a sublease from CVS. Marcus & Millichap’s Jamie Medress and Mark Ruble represented the buyer, a limited-liability company, in the transaction.