IRVINE, CALIF. — Grubb & Ellis has represented JPMorgan Chase Bank in a 5-year, 127,718-square-foot office lease renewal at 1833 Alton Parkway in Irvine. Grubb & Ellis’ Chon Kantikovit, Maury Gentile and Mike Carson represented the financial services firm, which utilizes the facility for loan servicing operations. Legacy Partners, the property’s landlord, represented itself in the transaction.
Western
CITY OF INDUSTRY, CALIF. — Lee & Associates has negotiated Sun Hing Foods’ almost $10 million purchase of an 111,794-square-foot industrial property located at 14841 Don Julian Road in the City of Industry. Constructed in 2002, the distribution facility includes 12,104 square feet of modern office space and 21 dock-high truck-loading positions. Lee’s Adam Dzierzynski and Dennis Keane represented the buyer, a food wholesaler and distributor, in the transaction, and Colliers International’s Patrick Remolacio represented the seller, Bechler Corp.
BELLEVUE, WASH. — The Bellevue office of GVA Kidder Mathews has handled Legacy Partners I Bellevue I-90 LLC’s $27 million sale of a 90,725-square-foot office property, located at 3460-3350 161st Ave. SE in Bellevue, to Realty Associate Advisors LLC. GVAKM’s Bob Conrad, Joe Lynch, Brian Hatcher and Andy Miller represented the seller in the transaction.
PORTLAND, ORE. — Capacity Commercial Group has represented Multi-Employer Property Trust in its long-term, 195,510-square-foot industrial lease to United Stationers Supply Company. USSC will occupy the space at Rivergate Corporate Center Building A, located at 14300 N. Lombard Street in Portland. Trammell Crow Co. developed the LEED-certified warehouse and distribution facility in 2008.
FLORENCE, ARIZ. – Bull Realty has negotiated the sale of 4,508 acres of raw land at Merrill Ranch, an undeveloped 5,690-acre tract near Phoenix, to SWVP – GTIS MR LLC. Coupled with the first sale of 1,182 acres in December, the total value of the Merrill Ranch property exceeded $36 million. Atlanta-based Bull Realty’s Rob Whitmire and John DeYonker represented the seller, Merrill Ranch Properties LLC, in the transaction, and Jeremy McArthur of McArthur Land Co. represented the buyer. A group of more than 60 sub-participant banks and the FDIC, led by the People’s Bank of Winder, foreclosed on the property in February 2009.
SACRAMENTO AND PLEASANT HILL, CALIF. — Retail Opportunity Investments Corp. has purchased two Northern California centers totaling in excess of $27 million. Located in Sacramento, the $13.46 million Norwood Center is an approximately 90,000-square-foot, fully leased property anchored by Viva Supermarket, Rite Aid and Citi Trends. Located at 3250 Buskirk Ave. in Pleasant Hill, an approximately 71,000-square-foot shopping center anchored by Office Depot and Basset Furniture was purchased for $13.65 million.
OXNARD, CALIF. — Colliers International has brokered the $5.15 million sale of a 56,502-square-foot industrial building located at 1600 Pacific Ave. in Oxnard. Built in 1998, the property is situated within the Channel Islands Business Center, a 211-acre industrial complex that fronts Oxnard Boulevard. Colliers’ Patrick DuRoss, John DeGrinis and Jeff Abraham represented the seller, Marcus Adams Properties, in the transaction, and Joshua Linn and Gordon Mace of Beitler Commercial represented the buyer, Santa Barbara Design Studio.
SANTA PAULA, CALIF. — Marcus & Millichap has brokered the $6.8 million acquisition of The Santa Paula Townhouses, a 50-unit property located at 101-111 E. Ventura Street in Santa Paula. Built in 1970, the property was 92 percent occupied at the time of sale. Marcus & Millichap’s Greg Kaiser represented the buyer, a private investor.
HENDERSON, NEV. — NAI Las Vegas has represented Bailes Family Trust in its $5.9 million acquisition of 33,724 square feet of industrial space located at 1710 Whitney Mesa in Henderson. NAI’s Ron Berg, Jeff Berg, Mica Berg and Eric Tumbleson represented the buyer in the single-tenant investment transaction, and the seller, AML Development II, represented itself.
ENCINO, CALIF. — NAI Capital has negotiated the more than $4.22 million sale of a retail center located at 17301 Ventura Blvd. in Encino. NAI’s Richard Leyner and Douglas Cole represented the seller, Encino Shoppes LLC, in the transaction, and the firm’s Sam Monempour, Chris Jackson and Todd Lorber represented the buyer, Encinvest VL Inc.