DENVER — Pinnacle Real Estate Advisors has orchestrated the $1.11 million sale of the Wolf Londoner Building, a 17-unit apartment property located at 2401-2415 Stout Street and 805-817 24th Street near the revitalized Curtis Park Neighborhood in Denver. Constructed in 1916 and fully renovated in 1984, the multifamily structure consists of an office/studio unit, a loft, 11 one-bedroom/one-bath units, two one-bedroom/one-bath large units and two two-bedroom/one-bath units. Pinnacle’s Jeff Johnson and Matt Ritter assisted the buyer in the transaction, and the brokerage firm’s Kyle Malnati assisted the seller.
Western
LAS VEGAS — NorthMarq Capital has arranged first-mortgage financing of $22.5 million for the 42,281-square-foot Showcase Mall, a retail property located at 3791 S. Las Vegas Blvd. in Las Vegas. Based on a 10-year term with 8 years interest only and a 30-year amortization schedule, the loan was arranged for the borrower by NorthMarq’s David Blum through its relationship with a CMBS lender.
SAN FRANCISCO — With an assist from its retail division, Cassidy Turley BT Commercial has negotiated the approx. $10.63 million sale of two office buildings located at 144-154 and 156-160 2nd Street in San Francisco. The brokerage firm’s David Klein and Jennifer Essner and Terranomics’ Mark Koenig and John Schaefer represented Patelco Credit Union in its disposition of the properties — a 24,480-square-foot building and a 28,361-square-foot building — to New Urban Properties LLC.
LOS ANGELES — Marcus & Millichap has brokered the nearly $5.47 million sale of a 68-unit apartment property located in the North Hills area of Los Angeles. The brokerage firm’s Jeff Louks represented the limited-liability-company seller in the transaction.
REDLANDS, CALIF. — Lee & Associates has closed the $6.25 million sale of a 70,377-square-foot mixed-use business park and 4.59 acres of adjacent vacant land located at 1020 to 1050 Nevada Street in Redlands. Lee & Associates’ Herrick Johnson and Rich Erickson represented the seller, MKJ-McCalla Investments LLC, in the transaction, and SD Stanson Co.’s Mark Stanson represented the buyer, Fainbarg Family Trust, which plans to lease the property out.
SAN DIEGO — The Del Mar Union School District has purchased a 10,953-square-foot office building, located at 11232 El Camino Real in the Torrey Hills section of San Diego, for almost $4.33 million. CB Richard Ellis’ Paul Lafrenz, Paul Komadina, Christina Roush, Ryan Egli and Pat Collins represented the seller, Torrey Hills LLC, in the transaction, and Chuck Wasker of Colliers International and Mark Kagan of Tenant Rep Real Estate represented Del Mar Union School District, which will use the ground floor of the Class A office building for its district offices after relocating from its current location on 9th Street in Del Mar.
ELK GROVE, CALIF. — The 12,000-square-foot Laguna Corners Shopping Center, located at 4720 Laguna Blvd. in Elk Grove, has sold for $2.85 million. Situated between Franklin Boulevard and Interstate 5, the retail property includes Togo’s & Baskin Robbins, H&R Block and Great Clips. The Voit Real Estate Services team of Gary Gallelli represented the seller in the transaction.
SAN DIMAS, CALIF. — NorthMarq Capital has arranged $11.36 million in first-mortgage financing for the 164-unit Sunnyside Apartments, a multifamily property located in San Dimas. Based on a 7-year term and a 30-year amortization schedule, the loan was arranged for the borrower through Freddie Mac by NorthMarq’s Daniel McCarthy.
TRACY, CALIF. — AMB Property Corp. has leased approximately 390,280 square feet of industrial space at Building 2 within its AMB Chabot Commerce Center in Tracy. Terms of the deal were not disclosed. The lessee, a consumer electronics retailer and repeat tenant, will use the distribution center to service its Northern California customer base.
ENGLEWOOD, COLO. — Unique Properties LLC/TCN Worldwide has negotiated the almost $1.78 million acquisition of a 44,233-square-foot warehouse building, located at 3000-3066 S. Platte River Dr. and 1205-1281 W. Dartmouth Ave. in Englewood. Situated on a 2.99-acre lot with a fenced yard, the industrial property was 100 percent occupied by six long-term tenants at the time of sale. Unique Properties’ Brian McKernan represented the buyer, Platte River Warehouse LLC, in the transaction, and CT Fuller Real Estate’s R.C. Myles, Craig Myles and Jeff Halsey represented the seller, Grace Land & Improvement Co.