TEMECULA, CALIF. — Woodside Homes has acquired 210 triplex condominium home sites, located near the intersection of Rancho California and Ynez roads just off Interstate 15 in Temecula, from San Diego-based American Property Enterprises. Terms of the deal were not disclosed. Consisting of 102 finished lots and 108 partially improved lots, the condo community to be known as Maravilla will include a recreation center, a pool and a spa, a covered outdoor picnic/grill area and an observation gazebo. A division of Salt Lake City-based Woodside Group LLC, the homebuilder will be constructing units between 1,124 and 1,753 square feet.
Western
GLENDALE, CALIF. — Jones Lang LaSalle has represented LegalZoom in a 10-year, 48,640-square-foot lease at Glendale City Center, a Class-A, 19-story office building located at 101 N. Brand Blvd. in Glendale. Jones Lang LaSalle’s Mike McRoskey, Gary Horwitz, Tony Morales and Frank Scott represented the online legal document and filing service company in the transaction, and CB Richard Ellis’s Patrick Church and Anneke Greco represented the landlord, Legacy Partners.
BOULDER, COLO. — ARA has brokered the $14 million sale of The Hub Apartments located in Boulder. Constructed in 1994 and 98 percent occupied at the time of closing, the multifamily property includes a clubhouse, a fitness center and a heated outdoor swimming pool. Terrance Hunt, Doug Andrews and Jeff Hawks of Atlanta-based ARA represented the seller in the transaction.
HIGHLANDS RANCH, COLO. — NorthMarq Capital has arranged a permanent loan of $6.2 million for Village Center West, a four-building, 30,397-square-foot neighborhood retail center located at 3620-3626 Highlands Ranch Pkwy. in Highlands Ranch. Tenants include Radio Shack, Supercuts, Baskin Robbins and King Soopers (the latter, grocery tenant not being a part of the collateral). John Stewart and Brock Yaffe of Minneapolis-based NorthMarq arranged the financing for the borrower.
PHOENIX — Cassidy Turley BRE Commercial has completed the $1.6 million acquisition of a 17,524-square-foot office building located at 222 N. 44th Street in Phoenix. Cassidy Turley BRE Commercial’s Chris Walton and Justin Himelstein represented the buyer, North 44th Street Phoenix LLC, a company formed by San Diego-based DPR Construction. CB Richard Ellis’ Rick Murphy and Max Bippus represented the Pleasanton, Calif.-based seller, Bajarang Investments, in the transaction. DPR will occupy the purchased building.
BELLEVUE, WASH. — Essex Property Trust has purchased the 110-unit Courtyard Off Main Apartments, located in the heart of Bellevue, for $30 million. Constructed in 1999 by local developer and seller Courtyard Off Main LLC, the property includes 7,573 square feet of commercial space. GVA Kidder Mathews’ Philip Assouad and Giovanni Napoli handled the transaction. The Palo Alto, Calif.-based apartment REIT’s acquisition is its first in the city located east of Seattle and west of Interstate 405.
BROOMFIELD, COLO. — PCCP LLC has provided Griffis Group a $50 million loan to finance the acquisition of the 376-unit Terracina Villas in Broomfield. Developed and constructed in 2009 by Catalina Development Co., the Class A apartment property consists of four four-story buildings with one- and two-bedroom configurations. PCCP worked closely with the Denver-based borrower/multifamily owner to structure a short sale among the seller, the senior lender and the mezzanine lender.
SANTA CLARITA, CALIF. — NAI Capital has negotiated the $2.5 million acquisition of an 18,720-square-foot industrial building, located at 26477 Ruether Ave. in Santa Clarita. NAI Capital’s Chris Jackson and Todd Lorber represented the buyer, 3rd Building LLC, in the investment purchase; the sellers, Jawahar and Malkaiat Saini, represented themselves in the deal. The buyer plans to reposition the property, which is situated on 88,910 square feet of land.
NORTH LAS VEGAS, NEV. — Strategic Storage Trust has acquired an approximately 700-unit self-storage facility located at 3155 West Ann Road in North Las Vegas. Built in 2005, the public, non-traded REIT's third self-storage acquisition in the area is a two-story building offering 94,000 rentable square feet that includes an office and apartment for a resident manager. To be rebranded under the SmartStop Self Storage trade name, the self-storage property is situated approximately four miles west of U.S. Route 95 and approximately seven miles east of Interstate 15.
SANTA CLARITA, CALIF. — Colliers International has directed the sale of an 8,189-square-foot retail building, located at 23360 Cinema Dr. in the Valencia area of Santa Clarita, to Performance Cyclery for an undisclosed amount. The private bicycle retailer plans to open by December 1 in the property previously occupied by Trader Joe’s approximately 2 years ago. Colliers International’s Zeke Patterson and John Erickson represented the buyer in the transaction, and the brokerage firm’s Kevin Fenenbock, along with NAI Capital’s John Cserkuti and Bert Abel, represented the seller, MDI Cinema Drive LLC.