REDWOOD CITY, CALIF. — Walker & Dunlop LLC has provided refinancing in the amount of $26.4 million for Pescadero Apartments, a garden-style apartment community located in the affluent Redwood Shores area of Redwood City. Underwritten to a 55 percent loan-to-value ratio, the financing was structured with a 10-year term and a 30-year amortization. Developed and built in 1999 by M.H. Podell Co., Pescadero Apartments was 98 percent leased at closing.
Western
MOORPARK, CALIF. — Lee & Associates-LA North/Ventura has negotiated an 111,700-square-foot industrial lease at 609 Science Drive in Moorpark. Lee’s John Ochoa and Grant Harris negotiated the 7-year lease on behalf of AG Machining, which had initially planned to move its operations to Mexico. Colliers International’s John DeGrinis, Patrick DuRoss and Jeff Abraham represented the landlord, 609 Science Drive LLC, in the transaction.
SAN DIEGO — Voit Real Estate Services has directed the approx. $2.03 million sale of a 20,286 square-foot industrial property, located at 9808 Waples Street in the Sorrento Mesa submarket of San Diego. This single-tenant industrial building was vacant at the time of closing. Voit’s Randy LaChance and Jon Danton represented the seller, CT CL Fund II LLC (CT Realty Investors), in the transaction, and Tom Van Betten of Cassidy Turley BRE Commercial represented the buyer, Rancho Resources.
BERKELEY, CALIF. — Grubb & Ellis has negotiated Strada Investment Group’s $15 million acquisition of the 131,694-square-foot Berkeley Crossing, a Class A office building located at 1608 4th St. in Berkeley. Strada purchased the note, originally valued at $28 million, and worked with both the lender, New York Life Investment Management LLC, and the previous owner to take ownership of the property in a deed-in-lieu-of-foreclosure transaction. Grubb & Ellis’ Steve Golubchik and Nicholas Bicardo represented the buyer in the deal. Renovated in 2000 and approximately 30 percent leased at closing, the property is designed for technology use and includes a roof deck that provides views of the surrounding Bay Area and East Bay Hills.
IRVINE, CALIF. — DAUM Commercial Real Estate Services has handled the $8.65 million acquisition of a 95,005-square-foot industrial building located at 17352 Von Karman Ave. in Irvine. DAUM’s Mike Barreiro and Gavin Denniston represented the buyer, ICC-CHT LLC, in the transaction, and Voit Real Estate Services represented the seller, MAM-Von Karman LLC.
SAN BERNARDINO, CALIF. — Faris Lee Investments has closed the $3.85 million sale of a 10,200-square-foot retail property, located at 4041 N. University Pkwy. in San Bernardino. Built in 2009, the property is situated just off Interstate 15 within a neighborhood shopping center. Faris Lee’s Jeff Conover represented the seller, Beverly Hills, Calif.-based Camden Holdings LLC, in the transaction, part of a 1033 exchange for the San Marino, Calif.-based buyer, Thompson Co., which was represented by Susan Harris of CAG. Davita Dialysis has a 15-year, absolute triple-net lease on the property with two 5-year extension options.
BEAVERTON, ORE. — Marcus & Millichap has negotiated the more than $2.15 million sale of Twin Oaks Executive Center, a 14,829-square foot office property located at 1865 NW 169th Place in Beaverton. The transaction involving the multi-tenant, two-story office building was negotiated by the brokerage firm’s Ryan O'Leary.
EL SEGUNDO, CALIF. — Lucent Capital has arranged $20.75 million in refinancing for a 200,000-square-foot office complex located in El Segundo. The non-recourse, 5-year, fixed-rate loan was provided by CorAmerica Capital LLC, and the borrower was represented by Greenberg Glusker’s Bob Baradaran. The owner-occupied office complex consists of six-story, three-story and single-story office buildings.
SANTA CLARITA, CALIF. — Marcus & Millichap has presided over the $4.5 million sale of Do-it Center, a 45,400-square-foot retail property located in the Valencia area of Santa Clarita. The brokerage firm’s Lior Regenstreif and Brandon Michaels represented the buyer and seller, respectively. Both parties were private investors.
DENVER — Fleisher Smyth Brokaw LLC has sold a 45,375-square-foot office building, located at 7010 Broadway in Denver, to OIA Capital Services LLC for more than $2.9 million. Cassidy Turley Fuller Real Estate’s John Becker and Mike Haley represented the seller in the transaction.