ISLAND OF OAHU, HAWAII — BlackSand Capital LLC has acquired Pearlridge Uptown II, a 9.3-acre portion of Pearlridge Center on the island of Oahu, from INspiration International LLC. Terms of the deal were not disclosed. Anchored by Borders Books & Music on the second floor and Price Busters Hawaii on the ground floor, Pearlridge Uptown II comprises the eastern wing of the Uptown component of Pearlridge Center, the largest enclosed shopping center in Hawaii. The property is currently 96 percent leased. Colliers Monroe Friedlander’s Mark Bratton represented the seller in the transaction.
Western
LAS VEGAS — MIG Real Estate has acquired the 99,000-square-foot Vista Commons, a neighborhood retail center located along Charleston Boulevard immediately west of the Interstate 215 loop in the western Las Vegas community of Summerlin. Terms of the deal were not disclosed. Built in 2007, the property is anchored by a 56,000-square-foot Albertsons supermarket and includes Wells Fargo and Bank of America locations. CB Richard Ellis’ Charles Moore, Michael Newman, Marlene Fujita and George Good represented the seller in the transaction; MIG did not have broker representation.
HEALDSBURG, CALIF. — Paramount Lodging Advisors (PLA) has closed the sale of Hotel Les Mars, a Relais & Chateux luxury property located at 27 North Street in Healdsburg. The 16-room boutique hospitality property in Sonoma County reportedly traded for more than $4.8 million. Expanding its western presence, Chicago-based PLA will be announcing additional team members at its Denver and San Francisco offices in February.
IRVINE, CALIF. — Lee & Associates has completed GE Capital’s $6.3 million foreclosure sale of the 35,000-square-foot Teslaco Building, an office building located at 35 Tesla in Irvine, to Owen Commercial. Lee & Associates Irvine’s Brian Garbutt and Andrew Robben represented both parties in the off-market transaction.
LAS VEGAS — Gatski Commercial Real Estate Services has completed the almost $4.4 million sale of the 95,212-square-foot Scottsdale Plaza, a mixed-use property located at 8760-8880 Maryland Pkwy. in Las Vegas. The office and retail property was sold to Sonoran Real Estate Fund by Quality Properties Asset Management Company. Also the property manager, Gatski represented the seller of the property, and McMenemy Investment Services represented the buyer.
MESA, ARIZ. — Colliers International–Greater Phoenix has negotiated the $6.4 million acquisition of approximately 22.65 acres at the northwest corner of West Broadway Road and South Brooks Road in Mesa. The buyer, Crescent Crown Distributing, plans to develop a new 69,230-square-foot corporate headquarters, a 260,696-square-foot distribution facility and a 10,446-square-foot repair shop on the site. Colliers International’s Eric Bell and Mike Ciosek represented the buyer, which ranks as the fifth largest beer wholesaler in the nation. Represented by Randall Blum of locally based REB Ltd., the seller is three entities owned by Craig Berge of Mesa: Broadway Brooks LLC, Mesa Leasing Corp., and Broadway 20 LLC. Crescent Crown expects to break ground on the new facilities in February, with completion slated for 2012.
NEWCASTLE, WASH. — Del Mar Village Enterprises LLC has sold the 30-unit Del Mar Village Apartments, located at 12828 Newcastle Way in Newcastle, to Del Mar Apartment LLC for $3.2 million. Kidder Mathews’ Jim Nichols and Mark McAlister and Don Pickens of Westec Ltd. represented both the buyer and Seattle-area investor/seller in the transaction.
SAN BERNARDINO, CALIF. — As part of a partnership with the City of San Bernardino’s Economic Development Agency, Meta Housing has purchased the 119-unit Sunset Cove Apartments, located near Ninth Street and Sierra Way at 830 Lugo Ave. in San Bernardino. NAI Capital’s Tim Steuernol represented the buyer in the transaction; the seller, 655 Dudley LP, a partnership between Paul Calvo & Co. and Milan Capital Management, represented itself. According to Steuernol, the buyer plans to relocate the current tenants, paying 42 months worth of relocation benefits, before completely rehabilitating the property and converting the units to affordable housing for seniors at an estimated cost of $18.5 million. Originally constructed in phases starting in 1958, the property was 50 percent vacant at the close of escrow.
SANTA CLARITA, CALIF. — NorthMarq Capital has arranged a $9.2 million supplemental mortgage loan behind credit-enhanced bond financing for The Village Apartments, a 386-unit multifamily complex located at 23700 Valle Del Oro in Santa Clarita. Arranged through NorthMarq’s seller-servicer relationship with Freddie Mac, financing was based on a 10-year term and a 30-year amortization schedule. Rob Hervey of the Minneapolis-based financial firm worked on behalf of the borrower.
SCOTTSDALE, ARIZ. — Colliers International–Greater Phoenix has completed the $2.4 million sale of the 32,327-square-foot Hacienda Plaza, an office and showroom property located within the Scottsdale Airpark at 15613 North Greenway-Hayden Loop in Scottsdale. Hacienda Lighting occupies approximately 60 percent of the building. Colliers International’s Greg Hopley represented the sellers, Larry Coffee and Connie Coffee of Nebraska, in the transaction, and the brokerage firm’s Jim Keeley and Mike Milic represented the buyer, Denali National Trust.