AUBURN, CALIF. — On behalf of a shopping center investment fund, North American Development Group (NADG) has acquired the 205,100-square-foot Rock Creek Plaza, a regional shopping center in the Sacramento suburb of Auburn, for $23.5 million. The firm’s first shopping center acquisition in California, the 100 percent-leased property is anchored by Kmart, Best Buy, Petco, Rite Aid and BevMo!. Sperry Van Ness’ Fouy Ly represented both NADG and the seller, a private investment trust, in the all-cash transaction.
Western
SAN MATEO, CALIF. — McCarthy Building Cos. has completed construction of College of San Mateo’s (CSM) new 88,000-square-foot Health and Wellness Building. Designed by Kwan Henmi Architecture/Planning, the three-story facility will house the cosmetology, nursing and dental-assisting programs, as well as the San Mateo Athletic Club and Aquatic Center. Located prominently at the main entrance of the CSM campus, the Health and Wellness Building is on track to achieve LEED-Silver certification. McCarthy completed the facility in 15 months, 2 months ahead of schedule.
DANA POINT, CALIF. — Seattle-based Washington Holdings has acquired the 400-room St. Regis Monarch Beach Resort, located in the Orange County coastal community of Dana Point, from an affiliate of Citigroup. California's only Forbes Five-Star and AAA Five Diamond resort, the oceanfront hotel includes an 18-hole Robert Trent Jones Jr.-designed championship golf course, 65,000 square feet of indoor and outdoor meeting space and the 30,000-square-foot Spa Gaucin. The resort is managed by Starwood Hotels & Resorts Worldwide. Washington Holdings purchased Citigroup's remaining equity interest in the St. Regis Monarch Beach Resort, which opened in 2001.
DIAMOND BAR, CALIF. —Voit Real Estate Services has handled the $13.975 million sale of a three-building industrial park located at 745-831 S. Lemon Ave., 20507-20547 and 20529-20847 Walnut Drive in Diamond Bar. With assistance from Colliers International’s Josh Hayes, Voit’s Al Pekarcik, Dan Vittone and Nick represented Foremost Airport Vegas Ltd. in its sale of the 165,697-square-foot, multi-tenant industrial park; the buyer, Walnut Business Center LLC, represented itself in the transaction.
PHOENIX — CB Richard Ellis (CBRE) has negotiated the $8.75 million sale of a 250,157-square-foot, 100 percent leased distribution building located within Estrella Business Park at 1002 S. 63rd Ave. in Phoenix. CBRE’s Barry Gabel and Mindy Korth represented the seller, Honolulu-based 1600 Broadway LLC, in the transaction; the buyer was Duke Realty Limited Partnership of Phoenix.
DENVER — Fuller Real Estate has brokered Mariposa Real Estate Investments LLC’s $2.85 million purchase of a 48,796-square-foot industrial building located at 275 Mariposa Street in Denver. Fuller’s Alec Rhodes and Tyler Smith represented the buyer in the transaction, and CB Richard Ellis’ Tyler Carner, Jim Bolt and Mike Camp represented the seller, LCP 275 LLC.
PARAMOUNT, CALIF. — Faris Lee Investments has completed the $14 million sale of an 88,341-square-foot, single-tenant retail property located at 14601 Lakewood Blvd. in Paramount. Occupied by El Super Grocery Store, the property was remodeled in 2009 to also accommodate El Super’s corporate headquarters. Faris Lee’s Donald MacLellan and Richard Walter represented the seller, Phoenix-based LDR/DMG Paramount LLLP, in the all-cash transaction, and Mitch Conlee of Daum Commercial represented the buyer, Los Angeles-based Wolf Trust, which was completing a 1031 exchange.
LAS VEGAS — Vegas Retail Leasing has handled the sale of the 28,880-square-foot Plaza Las Americas located at 540 and 546 North Eastern Ave. in Las Vegas. Completed in late 2008, the retail center features 18 units and is 42 percent occupied. Grubb & Ellis’ Nelson Tressler and Michael Kammerling represented the buyer, Plaza Las Americas Holdings LLC, in the transaction, and Charlotte Sousa of Vegas Retail Leasing represented the seller, Nevada State Bank.
VANCOUVER, WASH. — Marcus & Millichap has brokered the $6.8 million sale of Mountain View Village Center, a 35,788-square-foot retail property located at 14415 SE Mill Plain Blvd. in Vancouver. Marcus & Millichap’s Justin Poor, Michael Kapnick and Greg Wendelken handled the transaction on behalf of the buyer and seller, both Oregon-based limited-liability corporations.
SACRAMENTO, CALIF. — NBS Real Estate Capital LLC has partnered with St. Louis-based Sheehy Investment Group LLC in the acquisition of the 72-unit Bradford Pointe Apartments in Sacramento in an all-cash short sale. NBS completed a $2.48 million preferred-equity investment in connection with the purchase. Total costs after renovations to the multifamily property are estimated at $2.93 million.