SAN DIEGO — H. Antis Real Estate Co. has brokered a nearly $1.53 million industrial lease renewal for 24,244 square feet at 5648 Copley Dr. in San Diego. H. Hank Antis represented SCP Distribution, the lessee, in the 60-month deal with M. House Family Limited Partnership, the landlord, which represented itself.
Western
PHOENIX METRO — Sunbelt Holdings has acquired from SunCor Development Co. more than 1,900 acres of commercial and industrial land, a 440,000-square-foot industrial building, a 2,500-space parking garage, an office/retail building and office condominiums, as well as two 18-hole golf courses, in Arizona’s Valley of the Sun. The independent purchases include commercial land at Hayden Ferry Lakeside in Tempe; commercial and industrial land at Palm Valley in Goodyear, Avondale and Litchfield Park; Sanctuary Golf Course in Scottsdale and SunRidge Canyon Golf Course in Fountain Hills. Scottsdale-based Sunbelt Holdings began managing the properties on July 15.
SAN LUIS OBISPO, CALIF. — With an approximately 10-acre land sale, Lee & Associates Central Coast has secured the main anchor tenant, Target, for the 191,025-square-foot Prefumo Creek Commons power center located near Hwy. 101 in San Luis Obispo. Target is now building a 140,000-square-foot store on location, while the local Madonna family builds out the balance of the shopping center. Lee & Associates’ Clarice Clarke and Stephen Leider represented the property owner in the land sale to Target, which anticipates opening the new store in spring/summer 2011. The under-construction Prefumo Creek Commons is situated at the intersection of Los Osos Valley Road and Froom Ranch Way directly across from the Irish Hills Plaza shopping center.
SEATTLE — Vulcan Real Estate has completed the second phase of Amazon.com’s corporate headquarters in Seattle’s South Lake Union neighborhood. Located on the east side of Boren Avenue N. between Mercer and Republican streets, the new five-story building features 158,000 square feet of office space and 14,000 square feet of street-level retail space. LMN Architects designed the development for LEED Gold certification; Sellen Construction was the contractor.
CORONA, CALIF. — Cypress Equities / SRS Real Estate Partners Managed Services has been designated as property manager for The Promenade Shops at Dos Lagos, a 350,000-square-foot retail lifestyle center located in Corona. The property manager’s turnaround plan includes creating user-friendly public spaces where the community can gather together and relax; providing a variety of everyday retailers, services, unique shops and restaurants to complement the current mix of national and regional fashion and entertainment chains at the center; introducing a new movie theatre operator, Phoenix Big Cinemas, that will deliver top movie selections and state-of-the-art upgrades to the center’s 15-screen theatre; and expanding on the center’s community program of events that includes promotions, activities and everyday entertainment.
MARICOPA, ARIZ. — The PENTA Building Group has broken ground for the $20 million expansion of the Harrah’s Ak-Chin Casino Resort, a 148-room property located 39 miles south of Phoenix in Maricopa. Scheduled for completion in July 2011, the expansion will include construction of a five-story tower, adding 152 additional guest rooms, a sculpture and cactus garden, and new VIP Suites. Harrah’s Ak-Chin Casino Resort is owned by the Ak-Chin Indian Community and managed by Harrah’s.
SAN JOSE, CALIF. — Cassidy Turley BT Commercial San Francisco has brokered the $10.5 million sale of a 208-room Holiday Inn hotel property located at 399 Silicon Valley Blvd. in south San Jose. Built in 1990 and expanded in 1998, the three-story, 130,000-square-foot, full-service hotel includes the Summit Steakhouse, a heated pool and hot tub, a fitness room and a business center. Cassidy Turley’s Ric Russell represented both the buyer and seller in the transaction.
LIVERMORE, CALIF. — Marcus & Millichap has brokered the $33.25 million sale of the 240-unit Ironwood Apartments located at 5634 Charlotte Way in Livermore. Built in 1973, the 184,112-square-foot multifamily complex consists of 24 two-story residential buildings featuring one-, two- and three-bedroom homes. Situated within walking distance of Sandia National Laboratory and two miles from downtown Livermore, Ironwood Apartments includes a swimming pool and spa, fitness center, two children’s play areas, and picnic and barbecue facilities. Marcus & Millichap’s Stanford Jones, Phil Saglimbeni and Sal Saglimbeni represented one of the largest private owners of multifamily properties in the San Francisco Bay Area in its sale of the property to a Bay Area-based real estate investment fund manager.
CITY OF INDUSTRY, CALIF. — Lee & Associates has negotiated the purchase and co-brokered the $6.59 million sale of an 81,250-square-foot industrial property located at 20465 Walnut Drive in the City of Industry. Lee’s Adam Dzierzynski and Dennis Keane represented the undisclosed buyer in the transaction, and Lee’s Jack Cline and Peter Bacci joined with Kent Stalwick of CB Richard Ellis in representing the seller, Hager Pacific Properties. Looking to purchase a warehouse to house auto-racing parts, the buyer plans to occupy the building in August after showroom build-out and substantial improvements to the office space.
CITY OF INDUSTRY, CALIF. — Binswanger/Realty Advisory Group has negotiated the nearly $4.6 million purchase of a 47,108-square-foot, Class A distribution facility located at 19535 East Walnut Drive in the City of Industry. BRAG’s Mark Repstad and Rustin Mork represented 19535 E Walnut LLC in its acquisition of the property, which was constructed in 2002 and features two-story offices, a private yard and dock-high loading capabilities.