SAN CLEMENTE, CALIF. — Marcus & Millichap has negotiated the $3.85 million sale of the 30-unit Pacific Shore Apartments located at 101 West Marquita in San Clemente. Marcus & Millichap’s Shane McConnell and Tyler Leeson represented the seller, a private investor, in the transaction, and the brokerage firm’s Aaron Bove represented the buyer, also a private investor.
Western
MOUNTAIN VIEW, CALIF. — Newmark Realty Capital has arranged the $41.25 million purchase of San Antonio Shopping Center located at 445 San Antonio Road in Mountain View. Merlone Geier Partners, the buyer, plans to redevelop the 180,000-square-foot shopping center, which is anchored by Sears. Newmark’s Eric Von Berg represented the private investment firm in the acquisition.
ROSEVILLE, CALIF. — Solar Power Inc. will open a new 100,000-square-foot headquarters and manufacturing facility at McClellan Business Park in the Sacramento area. The property is projected to have an annual production capacity of 50 megawatts of high-performance solar panels. Founded in 2005, Solar Power anticipates construction beginning on the new facility in July with completion scheduled for early 2011.
CHANDLER, ARIZ. — CB Richard Ellis (CBRE) has negotiated a 46,846-square-foot lease at Panattoni Chandler Airport Center, a two-building, flex-office property located at the intersection of Cooper and Germann roads in Chandler Airport Center. Financial terms of the deal were not disclosed. CBRE’s Mark Krison, Scott German and Carole Uhrig represented the landlord, Sacramento, Calif.-based Panattoni Development Co., in the nearly 11-year lease agreement with Pittsburgh-based Education Management LLC; Larry Downey of Cushman & Wakefield represented the tenant in the full-building transaction.
SAN DIEGO — BRE Properties has purchased 194 units in the Monarch at Scripps Ranch luxury apartment community, located at 10776 Scripps Ranch Blvd. in San Diego, from Interwest Capital Corp. for $46.2 million. The unit mix comprises 80 one-bedroom/one-bath units, 108 two-bedroom/two-bath units and six three-bedroom/two-bath units. BRE Properties acquired 74 percent of the total 262 units in the development as the remaining units had previously been converted to condominiums and are all individually owned. Cushman & Wakefield’s Ed Rosen, John Chu and Alejandro Lombrozo represented both the buyer and the seller in the transaction.
SAN FRANCISCO — Grubb & Ellis has represented Sierra Maestra Properties in its acquisition of 54,225 square feet of office space at 153 Kearny Street in downtown San Francisco. The purchase price for the five floors of space plus a mezzanine floor was not disclosed. Grubb & Ellis’ Daniel Cressman, Michael Taquino and Kyle Kovac represented the San Francisco-based buyer in the transaction; Amalgamated Bank of New York was the seller.
SIMI VALLEY, CALIF. — Evergreen Development Co. has completed the design, development and construction of a 10,000-square-foot Walgreens at the intersection of Sycamore Drive and Cochran St. in Simi Valley. Situated in the Sycamore Village shopping center, the first Walgreens in the city will be open 24 hours a day and will also feature a drive-through pharmacy.
CAMP PENDLETON, CALIF. — The new $24 million Wounded Warrior Barracks at Marine Corps Base Camp Pendleton has opened in San Diego County. The two-story, 66,000-square-foot facility features 100 semi-private suites for men and women of all ranks and includes gaming areas, computer alcoves, outdoor athletic facilities, therapeutic gardens and nature trails. Barnhart Balfour Beatty was the builder, and Cass, Sowatsky, Chapman & Associates of San Diego was the project architect.
LYNNWOOD, WASH. — GVA Kidder Mathews has negotiated the $4.62 million acquisition of a 54,000-square-foot industrial building located at 5804 204th Street SW in Lynnwood. GVAKM’s Matt Henn, Matt Hagen, Al Robertson and Thad Mallory represented the buyer, Conax Properties USA, in the transaction, and Colliers International’s Derek Heed represented the seller, Lynwood 5804 LLC.
ANAHEIM, CALIF. — Sares Regis Group has commenced development of Canyon Point, a three-building industrial project located at the intersection of Miller St. and Miraloma Ave. in Anaheim. Totaling nearly 122,000 square feet, Canyon Point is Orange County’s only LEED-certified industrial project. CB Richard Ellis’ Ian Britton and Brad Bierbaum will market the buildings, which are scheduled for completion in September.