DENVER — Marcus & Millichap has brokered the $13 million sale of a 125,601-square-foot site that is ground-leased to Lowe’s Home Improvement Warehouse. The brokerage firm’s Jamie Medress, Mark Ruble and Michael Hoffman represented both the buyer, a Phoenix-based real estate investment firm, and the seller, an Idaho-based developer, in the transaction. According to Ruble, Brighton Corp. demolished an old shopping center at the site, which is located at 2220 West Alameda Ave. in the Mile High City.
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PHOENIX — Cassidy Turley BRE Commercial has completed the approximately $1.23 million sale of a 17,521-square-foot office building, located at 2211 E. Highland Ave. in Phoenix. Built in 1973, the building was 67 percent leased at the time of sale. Cassidy Turley’s Mark Seale represented the hometown buyer, MRL Partners Fund I LLC, in the transaction, and the brokerage firm’s Eric Wichterman and Mike Coover represented the seller, JP Morgan Chase.
SAN LEANDRO, CALIF. — American Packaging Co. has renewed its more than 72,000-square-foot industrial lease in San Leandro for an additional 5 years. Represented by Craig Hagglund of Lee & Associates, the locally based tenant has called the concrete tilt-up warehouse home for the past 7 years. JP Morgan, the landlord, was represented in-house.
SANTA FE SPRINGS, CALIF. — Cushman & Wakefield has managed a long-term, 240,000-square-foot industrial lease transaction at 11130 Bloomfield Ave. in Santa Fe Springs. Terms of the deal were not disclosed. Cushman & Wakefield’s Britt Casey, Rooney Daschbach and Eric Daschbach represented the tenant, Americana Activewear, in the transaction, and the brokerage firm’s John McMillan, Jeff Sanita and Tim Wallace represented the landlord, Alere Property Group. The infill Class A property features easy expressway access, modern accommodations with 30-foot clear ceilings, ample cross-docked loading capabilities and an office fit-out.
MESA, ARIZ. — Marcus & Millichap has negotiated the $2.05 million sale of a ground lease for a 6,483-square-foot P.F. Chang's China Bistro located at 6610 E. Superstition Springs Blvd. in Mesa. The single-tenant, net-leased property is situated near the 1.2 million-square-foot Superstition Springs Mall. Marcus & Millichap’s Jamie Medress and Mark Ruble represented the private-investor seller in the transaction.
TACOMA, WASH. — Marcus & Millichap has facilitated the nearly $1.87 million sale of a 3,723-square-foot Burger King, located at 1420 72nd Street East in Tacoma. Constructed in 2002, the single-tenant, net-leased property sits on a 0.69-acre parcel. Marcus & Millichap’s Peter Nisbet represented the private-investor seller in the transaction.
CHINO, CALIF. — Grubb & Ellis has facilitated the $6.4 million purchase of an 86,000-square-foot warehouse facility, located within Chino Centerpointe at 4850 Eucalyptus Ave. in Chino. Represented by the brokerage firm’s David Wu, McFerran Furniture purchased the Class A property from United Overseas Bank Ltd.
SEATTLE — Marcus & Millichap has arranged the more than $2 million sale of the 37-unit Sunview Apartments, located at 10245 Des Moines Memorial Drive South in Seattle. Built in 1967, the multifamily property consists of 27 one-bedroom/one-bathroom units and 10 two-bedroom/one-bathroom units. Marcus & Millichap’s Matthew Bohner, Marc Cunningham and Robert Francis represented the private-investor seller in the transaction.
GOLDEN, COLO. — NorthMarq Capital has arranged a $3.1 million first mortgage for Building K within Green Mountain Corporate Center at 221 Corporate Circle in Golden. Based on a 10-year term and a 25-year amortization schedule, financing was arranged by NorthMarq’s Nancy Ferrell and Steven Koeneke for the borrower, Green Mountain Corporate Center IV LLC, through Symetra Financial. The 47,000-square-foot flex building was developed by the owner/borrower.
SCOTTSDALE, ARIZ. — CB Richard Ellis has negotiated the $6.9 million sale of Lincoln Center, a 13-building office complex located at 7100 E. Lincoln Drive and 6510-6590 N. Scottsdale Road in Scottsdale. Built in two phases in 1978 and 1980, the 91,328-square-foot property was vacant at the time of trade to a local buyer, Covington Asset Management LLC. In the transaction, CBRE’s Barry Gabel and Mindy Korth represented the Dallas-based seller, Orix Capital Markets LLC, which acquired the property through foreclosure in April 2010.