REDLANDS, CALIF. — Lee & Associates has closed the $6.25 million sale of a 70,377-square-foot mixed-use business park and 4.59 acres of adjacent vacant land located at 1020 to 1050 Nevada Street in Redlands. Lee & Associates’ Herrick Johnson and Rich Erickson represented the seller, MKJ-McCalla Investments LLC, in the transaction, and SD Stanson Co.’s Mark Stanson represented the buyer, Fainbarg Family Trust, which plans to lease the property out.
Western
SAN DIEGO — The Del Mar Union School District has purchased a 10,953-square-foot office building, located at 11232 El Camino Real in the Torrey Hills section of San Diego, for almost $4.33 million. CB Richard Ellis’ Paul Lafrenz, Paul Komadina, Christina Roush, Ryan Egli and Pat Collins represented the seller, Torrey Hills LLC, in the transaction, and Chuck Wasker of Colliers International and Mark Kagan of Tenant Rep Real Estate represented Del Mar Union School District, which will use the ground floor of the Class A office building for its district offices after relocating from its current location on 9th Street in Del Mar.
ELK GROVE, CALIF. — The 12,000-square-foot Laguna Corners Shopping Center, located at 4720 Laguna Blvd. in Elk Grove, has sold for $2.85 million. Situated between Franklin Boulevard and Interstate 5, the retail property includes Togo’s & Baskin Robbins, H&R Block and Great Clips. The Voit Real Estate Services team of Gary Gallelli represented the seller in the transaction.
SAN DIMAS, CALIF. — NorthMarq Capital has arranged $11.36 million in first-mortgage financing for the 164-unit Sunnyside Apartments, a multifamily property located in San Dimas. Based on a 7-year term and a 30-year amortization schedule, the loan was arranged for the borrower through Freddie Mac by NorthMarq’s Daniel McCarthy.
TRACY, CALIF. — AMB Property Corp. has leased approximately 390,280 square feet of industrial space at Building 2 within its AMB Chabot Commerce Center in Tracy. Terms of the deal were not disclosed. The lessee, a consumer electronics retailer and repeat tenant, will use the distribution center to service its Northern California customer base.
ENGLEWOOD, COLO. — Unique Properties LLC/TCN Worldwide has negotiated the almost $1.78 million acquisition of a 44,233-square-foot warehouse building, located at 3000-3066 S. Platte River Dr. and 1205-1281 W. Dartmouth Ave. in Englewood. Situated on a 2.99-acre lot with a fenced yard, the industrial property was 100 percent occupied by six long-term tenants at the time of sale. Unique Properties’ Brian McKernan represented the buyer, Platte River Warehouse LLC, in the transaction, and CT Fuller Real Estate’s R.C. Myles, Craig Myles and Jeff Halsey represented the seller, Grace Land & Improvement Co.
HIGHLAND, CALIF. — Faris Lee Investments has closed the $2.1 million sale of the 14,337-square-foot Stoney Creek Retail Center, located at 7354 Stoney Creek Drive in Highland. Built in 2007 and 91 percent occupied, the property consists of two multi-tenant buildings and an auto-service pad building occupied by Valvoline Express Lube. Faris Lee’s Dennis Vaccaro and Rich Walter represented the REO seller, California Bank & Trust, and the buyer, Canoga Park, Calif.-based Infinity Commercial Group LLC, in the all-cash transaction.
SACRAMENTO — NorthMarq Capital has arranged first-mortgage financing of $16.75 million for the 160-unit Wolf Ranch Apartments, a multifamily property located at 7300 Jacinto Ave. in Sacramento. NorthMarq’s John Kerslake arranged the financing for the borrower through Freddie Mac.
IDAHO FALLS, IDAHO — Walker & Dunlop LLC has provided a $6.5 million acquisition loan for the 157-unit Teton Apartments, a 13-building, garden-style multifamily community located in Idaho Falls. The 80 percent loan-to-value financing for Newport Beach, Calif.-based Capstone Commercial Properties was structured with a 10-year term and a 30-year amortization.
TACOMA, WASH — Marcus & Millichap has negotiated the nearly $1.88 million acquisition of Center Street Plaza, a 20,321-square-foot retail property located at 4916 Center Street in Tacoma. The brokerage firm’s Dino Christophilis represented the private-investor buyer in the transaction.