PHOENIX — Stoneridge Capital Partners has acquired the 119-room Hotel Highland located at 2310 East Highland Ave. in Phoenix’s Biltmore District. The purchase marks the Newport Beach, Calif.-based real estate investment company’s entry into the hospitality sector. Bill Murney of Hospitality Real Estate Counselors represented Stoneridge in the transaction, and Stan Kozlowski, Jr. of CBRE Hotels represented the undisclosed seller.
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CARSON, CALIF. — Grubb & Ellis has represented Epson America in its 180,000-square-foot, 68-month lease renewal at the Dominguez Technology Center, a Class A industrial building located at 18300 Central Ave. in Carson. The tenant has fully occupied the property since it was built in 2000. Grubb & Ellis’ Jim Biondi, Terry Reitz and Gerald Kim represented Epson in the transaction, and the property owner, Carson Dominguez Properties L.P., represented itself.
PHOENIX — Marcus & Millichap has brokered the $2.9 million sale of a Fry's Shops located at 4212 West Cactus Road in Phoenix. Built in 1990, the 17,055-square-foot retail property is 81 percent occupied by nine tenants. Marcus & Millichap’s Jesse Goldsmith and Steve Julius represented the seller, Bell Rd 67 LLC, in the transaction.
LONG BEACH, CALIF. — NAI Capital represented SJK Properties LLC in its $1.8 million sale of an 11,760-square-foot industrial building located at 3850 Gilman in Long Beach. NAI’s Neil Miyazaki and Junko Masubayashi represented the seller, and Transwestern Commercial Services represented the buyer, FCI Management Consultants Inc.
LOS ANGELES — E! Entertainment Television has signed a substantial lease renewal for 355,304 square feet of office space at the Wilshire Courtyard located at 5700 and 5750 Wilshire Blvd. in the Miracle Mile area of Los Angeles. Madison Partners’ Brad Feld represented the landlord, RREEF, and Mark Sullivan and David Gordon of Studley represented the tenant in the transaction, a 10-year renewal set to begin in January 2012. E! Entertainment Television currently occupies 70 percent of the Wilshire Courtyard’s 5750 Blvd. building.
LAS VEGAS — Dunbar Commercial represented Ashley Furniture in its $4.8 million purchase of a 37,707-square-foot free-standing retail building located at the Galleria at Sunset Mall in Las Vegas. Previously occupied by Linens Ôn Things, the property has been vacant for nearly 2 years. Bill Dunbar of Dunbar Commercial, an X Team International partner, represented the buyer, which will move from its 35,261-square-foot location at nearby Sunmark Plaza.
LAS VEGAS — Hanley Investment Group Real Estate Advisors has negotiated the more than $4.8 million sale of a four-tenant shopping center located at 1125-1175 East Charleston Blvd. in Las Vegas. Built in 2003 and 100 percent occupied at the time of sale, the 27,300-square-foot Family Place is home to 99 Cents Only, Burger King, Launderland and Moneytree. Hanley’s Eric Wohl and Edward Hanley represented both the buyer and seller — Commerce, Calif.-based 99 Cents Only Inc. and Family Place Station LLC of Salt Lake City, respectively — in the transaction.
ENCINITAS, CALIF. — McCarthy Building Cos. has started construction of an 864-space parking structure, located at 354 Santa Fe Drive on the campus of Scripps Memorial Hospital Encinitas. A nearly $10.3 million design-build project scheduled for completion in February 2011, Scripps Health’s 278,000-square-foot, three-story structure will encompass five levels, including one subterranean and one rooftop level. International Parking Design is the architect-of-record.
HENDERSON, NEV. — CB Richard Ellis negotiated the $3.3 million sale of approximately 13,969 square feet of retail space located at the northwest corner of Eastern Avenue and Pecos Ridge Parkway in Henderson. The brokerage company’s Christina Roush, Charles Moore and Marlene Fujita represented City National Bank in its sale to Fresh & Easy Neighborhood Market.
SAHUARITA, ARIZ. — Evergreen Development Co. has sold a 29,000-square-foot shopping center pad, located near the northwest corner of Interstate 19 and Nogales Highway at Madera Marketplace in Sahuarita, to Lifelong Learning Academy. Financial terms of the deal were not disclosed. Volk Company’s Brenna Lacey represented the seller in the transaction, and Rob Roach of Jones Lang LaSalle represented the buyer.