MOORPARK, CALIF. — Construction has begun for the new $12.7 million home of Moorpark College’s Exotic Animal Training and Management Program (EATM). Replacing two portables that have served EATM’s staff, students and 150-plus animal inhabitants, the new facility will include two 50-seat classrooms, a veterinary medicine laboratory, a bookstore, a ticket booth and faculty offices. Overcoming the challenges of working in close proximity to exotic animals and building the structure into the campus’ hillside, Heery International is providing construction management services for the 13,000-square-foot facility, which is slated for completion in April 2011. Based at Moorpark’s Ventura County, Calif., campus, the EATM prepares students for careers working with animals in television, film, zoos, theme parks and more.
Western
PHOENIX — NAI Horizon has negotiated the $4.6 million sale of a 45,199-square-foot industrial building located at 3433 E. Wood Street in Phoenix. NAI Horizon‘s Matt McDougall and Jeff Adams represented the seller, DKS Properties LLC, in the transaction; Commercial Properties Inc.’s Adam Hansen and Fred Buck represented the buyer, Soncell North America.
SAN DIEGO — Cresta Verde Inc. has purchased a 6,886-square-foot, multi-tenant retail building, located at 350 University Ave. in San Diego, from Southrail Equities LLC and CAM 350 Group LLC for $4.15 million. Cassidy Turley BRE Commercial’s Chuck Klein and Kevin Held represented both the seller and the buyer in the transaction, with the brokerage firm’s Rick Reeder representing the seller as well.
LOS ANGELES COUNTY — Berkadia Commercial Mortgage LLC has originated more than $23 million for the acquisition of a three-property multifamily portfolio in eastern L.A. County in Southern California. The Claremont Portfolio consists of three garden-style apartment complexes: the 80-unit Southridge Apartments located at 750 W. San Jose St. in Claremont, Calif.; the 64-unit Spring Hill Town Homes located at 150 W. Drake Street in Pomona, Calif.; and The Village at Claremont, an 84-unit complex located at 10 S. Indian Hill Blvd., also in Claremont. Berkadia’s Mitchell Thurston arranged the acquisition financing through Fannie Mae.
BEAVERTON, ORE. — Grandbridge Real Estate Capital has originated and closed a more than $63.2 million fixed-rate loan secured by Murray Business Center, a 332,000-square-foot suburban office building located in Beaverton. Funding for the transaction was provided by TIAA-CREF. The loan was made at 98 percent of appraised value with an interest rate of 5.61 percent fixed for the entire 21.3-year loan term. The transaction features an initial 39-month interest-only component with negative amortization, which converts to an 18-year amortization. Rob Meister of Charlotte, N.C.-based Grandbridge, a subsidiary of BB&T Corp., arranged the financing on behalf of a long-time client. The main tenant at Murray Business Center currently occupies 72 percent of the property with an unrelated, non-credit tenant occupying the remaining portion of the property until September 30, 2013, at which time the main tenant takes over the entire building.
ONTARIO, CALIF. — Lee & Associates has negotiated an investment group’s $8.75 million purchase of Ontario Gateway, a two-building, multi-tenant professional office complex totaling 125,497 square feet in Ontario. Both the 73,974-square-foot Ontario Gateway I, located at 2151 E. Convention Way, and the 51,523-square-foot Ontario Gateway II, located at 2143 E. Convention Way, are two stories with freeway orientation. Tenants include SoCal Water, California Department of Consumer Affairs and the state’s Department of Health Services and Manpower. Lee & Associates’ Edward Indvik, Matthew Sullivan, David Mudge and Julia Corona-Thompson represented both the buyer and the seller, Jefferson-Pilot Investments, in the transaction.
MESA, ARIZ. — CB Richard Ellis has negotiated Alpine Valley Bread Co.’s $3 million acquisition of a 61,157-square-foot industrial building located at 300 W. Southern Ave. in Mesa. The manufacturer and distributor of natural and whole-grain bakery products will expand from its current 17,000-square-foot operations when it occupies the new building in early 2011. CBRE’s Joe Porter, Pat Feeney, Dan Calihan and Rusty Kennedy represented the buyer, in the transaction, and Diamond Pacific Investments’ Rick Mineweaser represented the seller, Paradise Valley, Ariz.-based Ol-Lonely Enterprises.
CORONA, CALIF. — Faris Lee Investments has completed two sales within The Shops at Sycamore Creek in Corona. Represented by Grubb & Ellis’ Skip Crane in an all-cash transaction, Knaak Family Partnership purchased the Vons fuel station for $2.13 million. Represented by Faris Lee’s Nick Coo, Los Angeles-based YFP Sycamore Creek LLC bought the 12,900-square-foot, stand-alone CVS/pharmacy for $4.93 million, also in an all-cash transaction. Faris Lee’s Dennis Vaccaro and Richard Walter represented the seller, Shops at Sycamore Creek LLC, in the two deals, which completed a three-parcel, break-up strategy totaling $9.66 million. Built in 2008 and 2009, The Shops at Sycamore Creek are situated just off Interstate 15 at Indian Truck Trail Rd.
SAN FRANCISCO — Marcus & Millichap has brokered the more than $3.78 million acquisition of a 13-unit apartment property located at 1385 Greenwich Street in San Francisco. The brokerage firm’s Robert Johnston represented the private-investor buyer in the transaction.
PATTERSON, CALIF. — Affinia Group has leased 394,000 square feet of industrial space at Building A within McShane Development Co. / MetLife Real Estate Investments’ 123-acre KeyStone West Business Park in Patterson. CB Richard Ellis’ Kevin Dal Porto and Doug Norton represented McShane in the lease transaction, and the brokerage firm’s Blake Rasmussen and Ed Wujiak represented the tenant. McShane Construction Co. and project architect Ware Malcomb will provide comprehensive tenant-improvement services for Affinia Group’s new location, which will include more than 8,000 square feet of office space.