HUNTINGTON BEACH, CALIF. — Q10 | Dwyer-Curlett has arranged a $4.5 million loan for the acquisition of the 48,946-square-foot Huntington South Center, a grocery-anchored retail property located in Huntington Beach. On behalf of the borrower, Dwyer-Curlett's Perry Colligan placed the loan with an affiliate of National Life of Vermont.
Western
REDLANDS, CALIF. — Colliers International has presided over the $11.625 million sale of the 82-unit Cypress Villas, located at 301 E. Cypress Ave. in Redlands. Built in 2004 and 100 percent occupied at the time of sale, the 89,248-square-foot garden-style multifamily property features a mix of one-, two- and three-bedroom apartments. Colliers’ Kitty Wallace represented both the Walnut Creek, Calif.-based buyer, Sequoia Equities, and the seller, MJW Receivers, in the transaction.
WEST VALLEY CITY, UTAH — CB Richard Ellis has negotiated a 194,510-square-foot industrial lease at 5253 West 2100 South in West Valley City. One of the nation’s biggest producers of private-label bottled water that serves some of the largest retailers in Utah, including WinCo Foods and Costco, Washington-based Advanced H2O LLC signed a 15-year lease in the Salt Lake City suburb. CBRE’s Rad Dye and Tom Dischmann represented both the tenant and landlord in the transaction.
SAN BERNARDINO, CALIF. – Cushman & Wakefield has closed the $6.5 million REO sale of the 119,028-square-foot Hospitality Executive Center, a two-building office property located at 225 and 325 West Hospitality Lane in San Bernardino, to Sunny Hills Palladium. The campus-style property is currently 47 percent occupied by tenants such as Kaiser Permanente, JP Morgan Chase and California Baptist University. Cushman & Wakefield’s Michael Roberts, along with the firm’s Jeff Cole, Ryan Russell, Sean Kern, Ron Heim, Steve Rowland and Ed Hernandez, represented the lending-institution seller; the buyer represented itself.
ISLAND OF OAHU, HAWAII — BlackSand Capital LLC has acquired Pearlridge Uptown II, a 9.3-acre portion of Pearlridge Center on the island of Oahu, from INspiration International LLC. Terms of the deal were not disclosed. Anchored by Borders Books & Music on the second floor and Price Busters Hawaii on the ground floor, Pearlridge Uptown II comprises the eastern wing of the Uptown component of Pearlridge Center, the largest enclosed shopping center in Hawaii. The property is currently 96 percent leased. Colliers Monroe Friedlander’s Mark Bratton represented the seller in the transaction.
LAS VEGAS — MIG Real Estate has acquired the 99,000-square-foot Vista Commons, a neighborhood retail center located along Charleston Boulevard immediately west of the Interstate 215 loop in the western Las Vegas community of Summerlin. Terms of the deal were not disclosed. Built in 2007, the property is anchored by a 56,000-square-foot Albertsons supermarket and includes Wells Fargo and Bank of America locations. CB Richard Ellis’ Charles Moore, Michael Newman, Marlene Fujita and George Good represented the seller in the transaction; MIG did not have broker representation.
HEALDSBURG, CALIF. — Paramount Lodging Advisors (PLA) has closed the sale of Hotel Les Mars, a Relais & Chateux luxury property located at 27 North Street in Healdsburg. The 16-room boutique hospitality property in Sonoma County reportedly traded for more than $4.8 million. Expanding its western presence, Chicago-based PLA will be announcing additional team members at its Denver and San Francisco offices in February.
IRVINE, CALIF. — Lee & Associates has completed GE Capital’s $6.3 million foreclosure sale of the 35,000-square-foot Teslaco Building, an office building located at 35 Tesla in Irvine, to Owen Commercial. Lee & Associates Irvine’s Brian Garbutt and Andrew Robben represented both parties in the off-market transaction.
LAS VEGAS — Gatski Commercial Real Estate Services has completed the almost $4.4 million sale of the 95,212-square-foot Scottsdale Plaza, a mixed-use property located at 8760-8880 Maryland Pkwy. in Las Vegas. The office and retail property was sold to Sonoran Real Estate Fund by Quality Properties Asset Management Company. Also the property manager, Gatski represented the seller of the property, and McMenemy Investment Services represented the buyer.
MESA, ARIZ. — Colliers International–Greater Phoenix has negotiated the $6.4 million acquisition of approximately 22.65 acres at the northwest corner of West Broadway Road and South Brooks Road in Mesa. The buyer, Crescent Crown Distributing, plans to develop a new 69,230-square-foot corporate headquarters, a 260,696-square-foot distribution facility and a 10,446-square-foot repair shop on the site. Colliers International’s Eric Bell and Mike Ciosek represented the buyer, which ranks as the fifth largest beer wholesaler in the nation. Represented by Randall Blum of locally based REB Ltd., the seller is three entities owned by Craig Berge of Mesa: Broadway Brooks LLC, Mesa Leasing Corp., and Broadway 20 LLC. Crescent Crown expects to break ground on the new facilities in February, with completion slated for 2012.