HAYWARD, CALIF. — Lee & Associates has handled U.S. Trading’s acquisition of an approximately 130,000-square-foot warehouse building located within close proximity to Interstate 880 at 21118 Cabot Blvd. in Hayward. Constructed in the early 1980s, the concrete tilt-up building features 20+ docks and heavy power. Lee & Associates’ Jesse Lucas and Chris Schofield represented the buyer in the transaction; ProLogis, the seller, was represented in-house.
Western
TEMPE, ARIZ. — Marcus & Millichap has announced the $4.8 million sale of 148-unit The Crossroads, an apartment property located at 1010-1044 East Orange Street in Tempe. Marcus & Millichap’s Steve Gebing and Cliff David represented the seller, HSBC Bank, in the transaction, and the firm’s Peter Te Kampe represented the buyer, a local owner/operator.
AZUSA, CALIF. — A CVS/pharmacy situated along Arrow Highway in Azusa has sold for $3.35 million. The Royston Group’s Rob Sutton and Greg Cortese represented the seller of the property, which was constructed in 2003, in the all-cash transaction; Capital Pacific’s Zeb Ripple represented the buyer. The 22-year fee-simple ground lease on the property has 16 years remaining on the initial term.
HENDERSON, NEV. — CB Richard Ellis has brokered Bank of America’s almost $1.4 million sale of approximately 27,584 square feet of office space, located at at 2920 N. Green Valley Pkwy. (Building 5) in Henderson, to S.A.L. Holdings LLC. CBRE’s Charles Moore, Christina Roush and Marlene Fujita represented the seller in the transaction.
THORNTON, COLO. — NorthMarq Capital has arranged permanent financing of almost $10.07 million for the 168-unit North Creek Apartments, located at 700 W. 91st Ave. in Thornton. Constructed in 2002, the seven-building property includes a clubhouse, a fitness center, a heated swimming pool and a playground. NorthMarq’s Greg Benjamin and Jim DiRienzo arranged the financing for the borrower, a division of Seattle-based Weidner Investment Services.
CHANDLER, ARIZ. —Charles Dunn Co. has closed OSSA TRUST’s $3.1 million purchase of a 10,000-square-foot retail building, located at 3100 Gilbert Road in Chandler, from Glenwood Development. The property is 100 percent occupied by La Petite Academy on a long-term lease. Charles Dunn’s Paul Kenworthy represented the buyer of the NNN-leased investment property.
CITY OF INDUSTRY, CALIF. — Voit Real Estate Services has directed the more than $14.4 million sale of a 157,328-square-foot industrial property, located at the intersection of 1100 Hatcher Avenue and 17521 & 17531 Railroad Street in the City of Industry, to Australian REIT, DEXUS Property Group. The multi-tenant Industry City Center is a 100-percent occupied, institutionally managed property situated near the 60 Freeway. Voit’s Alan Pekarcik, Dan Vittone and Nick Frasco represented both DEXUS, the buyer, and the undisclosed seller in the transaction.
FONTANA, CALIF. — Watson Land Co. has leased a 350,000-square-foot industrial facility, located at 13055 S. Valley Blvd. within the two-building Watson Commerce Center Fontana, to Smart & Final for the warehousing and distribution needs of all of the food retailer’s Southern California stores. The 92-month lease is valued at approximately $11.5 million. Cushman & Wakefield’s Brian Zurawski and Chuck Belden represented Smart & Final in the transaction, and Lee & Associates’ Michael Chavez, Bill Heim and Eloy Covarrubias represented WLC.
COSTA MESA, CALIF. — The VA Property Group, a division of Lee & Associates, has completed the $9.1 million sale of a five office-building portfolio located at 151 Kalmus Drive in Costa Mesa. Newport Beach, Calif.-based PRES Companies made the all-cash purchase, which totaled 82,911 square feet within Copper Tree Business Park. Lee & Associates’ Brian Garbutt and Allen Basso represented both parties in the transaction.
SAN DIEGO — Holliday Fenoglio Fowler LP has arranged the $9.75 million refinancing for four mixed-use properties situated along 4th and 5th Avenue in San Diego’s historic Gaslamp Quarter. The 48,065-square-foot portfolio features retail, residential-loft, office and specialty-use space. HFF’s Patrick Burger and Tim Wright represented the borrower, Burni Enterprises, and its asset manager, Cardinal Group Investments LLC, in securing the 3-year, adjustable-rate, non-recourse loan through a major New York-based debt fund. Loan proceeds are retiring existing debt and funding the conversion of two assets to retail and residential-loft uses.