CHANDLER, ARIZ. — Toyota Motor Credit Corp. has committed to a 65-month extension of its lease of Wells Real Estate Investment Trust II’s 133,317-square-foot building at One San Tan Corporate Center in Chandler. Terms of the transaction were not disclosed. In the deal that extends the lease until April 2017, Jones Lang LaSalle’s Wade and Rhonda Clark represented Toyota, which has occupied the entire building since its expansion in 2006.
Western
MILPITAS, CALIF. — Cassidy Turley CPS has presided over the sale of a 55,612-square-foot vacant R&D building located within the Oak Creek Business Park at 1623 Buckeye Drive in Milpitas. Terms of the deal were not disclosed. Cassidy Turley CPS’s Eric Fox, Sutton Roley and Mike Baker represented the seller, South Bay Development Co., in the transaction, and the brokerage firm’s Scott Borgia represented the private-investor buyer.
LAS VEGAS — Commercial Executives has negotiated the almost $6.15 million, 120-month lease of approximately 25,600 square feet of office space located at 9555 Hillwood Drive, Suite 200, in Las Vegas. CE’s Soozi Walker and Bobbi Miracle represented the law-firm tenant, Holland & Hart, in the transaction, and Doug Crook of Douglas Crook & Associates represented the limited-liability-company landlord, Margel/Parkway Pointe LLC.
COMPTON, CALIF. — Grubb & Ellis has negotiated the $6 million sale of a 72,239-square-foot freestanding industrial building, located at 1250 W. Artesia Blvd. in Compton. Grubb & Ellis’ James Biondi, Terry Reitz and Gerald Kim represented the seller, AMB Property Corp., in the transaction, and Craig Poropat of Lee & Associates represented the buyer, Frontier Imaging.
LAS VEGAS — On behalf of the lessor, Great Wash Park LLC (Tivoli Village), CB Richard Ellis’ Randy Broadhead and Brad Peterson have negotiated the more than $4.39 million, 120-month lease of approximately 12,635 square feet of office space, located at 400 S. Rampart Boulevard in Las Vegas, to HQ Global Workplaces LLC.
VERNON, CALIF. — Voit Real Estate Services has negotiated Intimo’s $3 million acquisition of a 44,460-square-foot warehouse, located at 3251 Leonis Blvd. in Vernon. The garment manufacturing company creates branded products carried in approximately 1,500 department and specialty stores worldwide. Voit’s Brian McLoughlin and David Fults represented the buyer in the transaction, and Peter Bacci of Lee & Associates represented the seller, Fortune Fashions.
TUCSON, ARIZ. — University Communities LLC has purchased a 76-unit apartment property, located at 1050 E. 8th Street in Tucson, for nearly $8.29 million. PICOR Commercial Real Estate Services’ Bob Kaplan represented the seller, 8th Street Apartments LP, in the transaction. Built in 1968, the multifamily community is master-leased to the University of Arizona.
PALO ALTO, CALIF. — Marcus & Millichap has presided over the $2.5 million sale of a 4,400-square-foot restaurant property, located at 420 Ramona Street in downtown Palo Alto. The building is currently occupied by Mandarin Gourmet, which has been in operation for more than 18 years. Marcus & Millichap’s J.J. Taughinbaugh represented both the limited-liability-company buyer and the private-investor seller in the transaction.
PASADENA, CALIF. — On behalf of Bolton & Co., Jones Lang LaSalle has arranged a 30,884-square-foot lease at the 265,000-square-foot Pasadena Corporate Park, a Class A complex located at 3475 E. Foothill Blvd. in Pasadena. Terms of the deal were not disclosed. Jones Lang LaSalle’s John McAniff, Christina Noonan and Jason Fine represented the tenant, which will use the new space as its company headquarters, in the transaction, and CB Richard Ellis’ Todd Doney, Nico Vilgiate and John Murray represented the landlord, Wells REIT Fund II. Jones Lang LaSalle’s Southern California Project and Development Services will oversee planning, design, construction and close-out of the project for the 80-year-old employee-owned insurance brokerage company.
REDONDO BEACH, CALIF. — KTR Capital Partners has acquired a vacant 111,000-square-foot corporate headquarters/industrial building, located at 3690 Redondo Beach Blvd., from Baron Real Estate. Terms of the deal were not disclosed. Harvey Beesen, Luke Staubitz and Andrew Dilfer of The Klabin Co./CORFAC brokered the transaction. The buyer plans to substantially upgrade the concrete tilt-up building, which features two-story office space, abundant truck-high loading, two drive-in doors and more than 150 parking spaces.