EVANS (GREELEY), COLO. – A 63,628-square-foot Evans Self Storage facility has sold to a local limited liability company for $2.5 million. Matt Tyler and Chico LeClaire, national self-storage investment specialists in Marcus & Millichap’s Denver office, marketed the listing exclusively on behalf of the seller, a private investor. The buyer was secured and also represented by the duo.
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HILLSBORO, ORE. – The 40-unit West Main at the Park apartment complex in Hillsboro has sold to W. Main Investment, LLC for $2,340,000. Built in 1995, West Main at the Park is located at 1025 West Main Street. The seller, Arctus West Main, LLC, was represented by Grayson Pounder out of Hendricks & Partners’ Portland, Ore., office.
DRAPER, UTAH — Technology company EMC Corp. has leased 35,000 square feet of office space at the Lone Peak Center in Draper. The Massachusetts-based company has already announced plans to hire several hundred new employees for its Draper office. EMC was represented by CBRE’s first vice president Eric Smith. Lone Peak’s landlord, Maier Siebel Baber, was represented by CBRE’s first vice president Wesley “Tab” Cornelison. The 10-year lease’s financial terms were not disclosed.
SAN DIEGO — A 2,982 square foot, single-tenant building in Downtown San Diego that is currently occupied by Jack in the Box has sold to an undisclosed buyer for $2,770,000. The sale was executed at a 5.49 percent cap rate. Jack in the Box also signed a new 20-year lease at the building, which is located at 1619 Pacific Highway, that includes four five-year options to renew. The buyer was represented by Peter Nisbet and Scott Morasch of Marcus & Millichap’s Seattle office. The seller was represented by Jack in the Box.
SANTA CLARA, CALIF. — Accounting firm KPMG LLC has signed a long-term lease at Equity Office’s Mission Towers I in Santa Clara. KMPG is currently a tenant at Equity Office’s Mountain View Gateway property. It will make a move during the fourth quarter of 2011 into its new 78,000-square-foot space at the 12-story, Class A office building. KPMG LLC was represented by CBRE’s Ken Gilbert. The landlord was represented by Todd Hedrick of Equity Office.
TEHACHAPI, CALIF. – Greenbriar Capital’s shareholders have approved its proposal to acquire 160 acres of vacant land in Tehachapi. The company has already placed a $25,000, non-refundable deposit with Marks & Kilkenney, LLC, and plans to pay the remaining balance of the purchase price, which is about $990,000, on or before Sept. 27. Greenbriar intends to improve and then zone the land before re-selling it to real estate home builders.
HOLLYWOOD HILLS, CALIF. – The historic Villa Bonita apartment complex in the Hollywood Hills has been sold to an undisclosed investor for $4.35 million. The 25-unit, seven-story tower is located one block from the Hollywood and Highland retail and entertainment complex. The seller, Villa Bonita Partners, LP, was represented by Darin Beebower of Madison Partners.
CATHEDRAL CITY, CALIF. — Marc Brutten, chairman and founder of Westcore Properties, has purchased the 72,756-square-foot Mission Plaza Shopping Center in Cathedral City for $3,174,000. The distressed retail center will be managed by Westcore Properties. It consists of one free-standing pad and one vacant pad, which are situated on 7.178 acres. Mission Plaza is currently 27 percent leased. Brutten, dba WH Mission Plaza, LLC, represented himself in this transaction. The seller, CW Capital, was represented by CBRE’s Maggie Montez.
RANCHO CORDOVA, CALIF. — Hendricks & Partners has sold the 72-unit Fountain Crest apartment complex in Rancho Cordova for $2.1 million. Located at 2719 Mills Park Drive, the complex was purchased by Fountain Crest Apartments. Steven A. Nelson and Al R. Inouye from Hendricks & Partners’ Sacramento office represented both the buyer and the seller, CPR Properties, Inc. (Chase Bank), in this transaction.
LOS ANGELES — Marcus & Millichap Real Estate Investment Services has sold a 16-unit apartment building located at 1343-1349 N. Martel Ave. in Los Angeles to a limited liability company for $2.5 million. The complex, which contains 12,080 rentable square feet, was built in 1960 and consists of one- and two-bedroom units. Tony Azzi, senior vice president investments in Marcus & Millichap’s West Los Angeles office, listed the property exclusively on behalf of the seller, a private investor. The buyer was represented by Greg Harris and Jeff Benson of Marcus & Millichap’s Encino office.