EAST PALO ALTO, CALIF. — Cassidy Turley BT Commercial has presided over the $1.15 million sale of the 10-unit Colonial Apartments located at 1918 Cooley Ave. in East Palo Alto. The multifamily property was built in 1945. Cassidy Turley’s Scott Kilpatrick represented both parties in the deal.
Western
HELENA, MONT. — On behalf of the developer, The Velmeir Cos., McShane Construction Co. has completed a 14,700-square-foot CVS/pharmacy store at 3095 N. Montana Ave. in Helena. The interior of the single-story retail facility includes retail space, a professional one-hour photo and a fully operational pharmacy featuring a double drive-thru. Detroit-based NORR Architects Engineers Planners was the project designer.
RANCHO CUCAMONGA, CALIF. — Stan Johnson Co. has completed the $3.3 million sale of a 0.76-acre parcel, located at 12035 Foothill Blvd. in Rancho Cucamonga and 100 percent leased by Comerica Bank, to a foreign private investor. The property is situated within the Victoria Commons master-planned project and within 1/8 of a mile from Victoria Gardens regional town center. Stan Johnson’s Brandon Duff and Brad Feller represented the seller, a California private partnership, in the transaction.
LOS ANGELES — Grubb & Ellis has arranged the $1.4 million purchase of a 17-unit multifamily property, located at 1851 Winona Blvd. Represented by the brokerage firm’s Dana Brody, Danny Monempour purchased the property from The Nancy Woskow Trust and 1851 Winona LLC. Michael Shepherd of Pritchett-Rapf Realtors represented the sellers in the transaction.
PASADENA, CALIF. — Marcus & Millichap has presided over the $4.2 million sale of a 34-unit apartment property, located at 1455 North Los Robles in Pasadena. Marcus & Millichap’s John Susank represented the seller, a partnership, in the transaction, and the brokerage firm’s Danny Bahng represented the buyer, William J. Galloway Family Trust.
ALAMEDA, CALIF. — Webcor LP has committed to 37,663 square feet at The Waterfront at Harbor Bay, a 385,000-square-foot business park located at 1751 Harbor Bay Parkway just minutes from downtown Oakland. Webcor will occupy one entire floor at a 73,257-square-foot office building within the park, which consists of four two-story office buildings, one single-story office building and one distribution building. Cassidy Turley BT Commercial’s Brian Collins represented Webcor in the deal, and Ryan Hattersley of Cushman & Wakefield represented the landlord. Originally developed between 1996 and 2000 as a corporate campus, The Waterfront at Harbor Bay Business Park was acquired by BPG Properties Ltd. in 2006.
SEATTLE — Holliday Fenoglio Fowler LP has secured $10.25 million in refinancing for Eastlake Center I and II, a two-building office complex located at 2815-2825 Eastlake Avenue E in Seattle. Fronting Lake Union, the development totals more than 84,000 square feet and includes the University of Washington and the Washington Research Foundation as tenants. On behalf of The Blume Co., HFF, led by Casey Davidson and Tom Wilson, placed the 10-year, fixed-rate loan with Goldman Sachs Commercial Mortgage Capital LP. Loan proceeds are refinancing a maturing CMBS loan.
RANCHO DOMINGUEZ, CALIF. — The Klabin Company/CORFAC International has brokered the $5.28 million sale of a 71,360-square-foot industrial building located at 18747 Laurel Park Road in Rancho Dominguez. The concrete tilt-up structure features dock-high and ground-level loading, 3,956 square feet of office space, a 22-foot clear height and on-site parking for 72 cars. C&W Investment Group LLC acquired the property from T. A. Associates, which was represented by The Klabin Company/CORFAC’s Todd Taugner, David Prior and Frank Schulz.
LA HABRA, CALIF. — Marcus & Millichap has presided over the $3.19 million sale of the 24-unit Valencia Park Apartments, located at 161-230 South Valencia Street in La Habra. Marcus & Millichap’s Jim Kordell represented the private-investor buyer in the transaction, and the brokerage firm’s Greg Bassirpou represented the seller, a limited-liability company.
SALT LAKE CITY — Red Mortgage Capital LLC has provided $9.79 million in FHA 221(d)(4) new construction financing for the 125-unit Providence Place Apartments, an affordable rental project in Salt Lake City. The loan has a 40-year amortization and is backed by GNMA mortgage-backed securities. Red Capital Markets LLC, RED’s investment banking arm, advised Wasatch Advantage Group LLC in the transaction. Wasatch’s multifamily development will be restricted to residents earning no more than 60 percent of area median income and will be managed by its affiliate, Wasatch Property Management.