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.
Western
TACOMA, WASH. — GVA Kidder Mathews has negotiated the $4 million sale of an almost 71,000-square-foot multifamily building located at 14417 S C Street in Tacoma. With assistance from Dobler Management’s Kathy Dobler, GVAKM’s Linn Larsen and Jim Jensen represented both the buyer, Richard Wilbur, and the sellers, Howe Investment LP and Alvah B Howe Trust.
SELLS, ARIZ. — Kraus-Anderson Construction Co. has completed the $2.5 million San Simon Elementary School renovation/upgrade project near Sells, west of Tucson. The 38,867-square-foot San Simon School serves American Indian students from kindergarten through 8th grade in the Indian Oasis-Baboquivari Unified District. Construction on the project began on December 14, 2009.
SAN DIEGO — The Vista Hill Foundation has purchased a 12,000-square-foot medical office building, located at 8910-8912 Clairemont Mesa Blvd. in San Diego, for its new main corporate office. Gina Coldani of NAI San Diego represented the buyer in the $1.95 million transaction, and Capital Growth Properties’ John Drummond and Greg Wagner represented the seller, The Dossett Group.
MONROVIA, CALIF. — Urban Housing Group has completed Paragon at Old Town, a well-positioned, mixed-use development consisting of 163 one- and two-bedroom apartment homes built over 6,000 square feet of ground-floor commercial space. Located at 700 S. Myrtle Ave. in the south end of Monrovia’s historic Old Town district and designed by KTGY Group, the property’s residents will have access to a lounge with fireplace, flat-screen television and entertaining kitchen; a 24/7 fitness studio; a billiard room; and a large, resort-style courtyard with heated elliptical swimming pool and spa.
PHOENIX –– Cushman & Wakefield has negotiated philosophy Inc.’s nearly 217,000-square-foot industrial lease at Buckeye Logistics Center located at 6913 West Buckeye Rd. in Phoenix. Terms of the deal were not disclosed. Constructed by The Alter Group in 2008, Buckeye Logistics Center consists of two buildings totaling 684,235 square feet. Cushman & Wakefield’s Pat Harlan represented the tenant in the long-term transaction, and the brokerage firm’s Steve Sayre, Darren Tappen and Kyle Westfall represented the landlord, Principal Global Investors. The Phoenix-based skincare and beauty company will relocate from a 100,000-square-foot facility in Chandler.
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.
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.