CHANDLER, ARIZ. — Marcus & Millichap has handled the more than $3 million sale of two industrial buildings, located at 208 South McKemy Ave. and 205 South Beck Avenue in Chandler. The brokerage firm’s Danny Kahn represented the undisclosed seller in the transaction. The properties total 97,809 square feet.
Western
PHOENIX — Cassidy Turley BRE Commercial has completed the $1.95 million sale of a 32,350-square-foot Class B industrial building, located at 4825 E. Ingram Street in Phoenix. Cassidy Turley’s Kent Hanson represented the seller, Ingram LDB LLC, in the transaction, and MarCor’s Fran Marotta represented the buyer, Falcon Ingram LLC.
SCOTTSDALE, ARIZ. — CB Richard Ellis (CBRE) has negotiated the $10 million sale of a vacant 136,556-square-foot Class A office building located at 17600 N. Perimeter Drive in Scottsdale. Constructed in 1999 on nearly 11 acres, the former corporate headquarters of First National Bank of Arizona has been vacant since July 2008. Situated within the Perimeter Center development, the property includes a 7,700-square-foot raised-floor data center and a 5,800-square-foot cafeteria. CBRE’s Bob Young, Glenn Smigiel, Steve Brabant, Rick Abraham and Jerry Noble represented the seller, a court-appointed receiver, in the transaction, and the brokerage firm’s Jim Fijan and Kevin Calihan represented the Phoenix-based buyer, WDP Properties. The previous owner was FNBHQ LLC.
ROCKLIN, CALIF. — Cassidy Turley BT Commercial has brokered the $2.025 million sale of the 67-room Rocklin Park Hotel, located at 5450 China Garden Road in Rocklin. Onsite amenities include the Chops Grill & Oven and the luxurious Spa LaLé. Cassidy Turley BT Commercial’s Scott Griemsmann and Eric Gunderson represented the seller, LNR Partners LLC, in the transaction; the buyer was OMKAR Rocklin Inc.
COLORADO SPRINGS, COLO. — Ford Motor Credit Co. has renewed its lease for 86,900 square feet of office space, located at 9930 Federal Drive in Colorado Springs, with landlord Wells Real Estate Funds. Grubb & Ellis | Quantum Commercial Group’s Michael Palmer was the listing agent in the transaction, and CB Richard Ellis’ Marty Johnson was the cooperating broker.
LOS ANGELES — Marcus & Millichap has brokered the $15 million sale of Sherman Village, a 150,000-square-foot development site located at 12629-12729 Riverside Drive in the Valley Village area of Los Angeles. The 3.45-acre site near the Sherman Oaks Fashion Square and the Sherman Oaks Galleria is entitled for the development of 264 multifamily units on eight parcels. Marcus & Millichap’s Greg Harris represented both the Los Angeles-based buyer, IMT Capital, and the Southern California-based private-investor seller.
LYNNWOOD, WASH. — Alderbrooke Associates LLC has completed the $9.4 million sale of the 115-unit Alderbrooke Apartments, a garden-style multifamily complex located at 18505 36th Ave. West in Lynnwood, to Alderbrooke Investments LLC, a Seattle-area investor. GVA Kidder Mathews’ Jim Nichols represented both the buyer and the seller in the transaction.
NORWALK, CALIF. — Marcus & Millichap has closed the $5.075 million sale of Plantation Apartments, a 46-unit multifamily property located at 12809 Kalnor Ave. in Norwalk. The real estate investment services firm’s John Susank represented the private-investor seller and also secured the buyer, a partnership.
LAGUNA HILLS, CALIF. — NorthMarq Capital has arranged first-mortgage financing of $9.2 million for the 89,936-square-foot Courtyard At La Paz, located at 25232-25342 McIntyre Street in Laguna Hills. Financing for the retail property was based on a 5-year term with a 30-year amortization schedule and was arranged for the borrower, an Orange County-based private investment group, through a CMBS lender. Ory Schwartz of Minneapolis-based NorthMarq arranged the first-mortgage financing deal.
MESA, ARIZ. — Turner Opportunity Fund has acquired a 40,869-square-foot industrial property consisting of 14 condominiums, located within the Superstition Springs submarket in Mesa, from First Community Bank of New Mexico. CB Richard Ellis’ Greg White and Greg Koestner represented both the buyer and the seller in the transaction. Newport Beach, Calif.-based Turner plans to sell individual units and also lease some with an option to buy.