BUENA PARK, CALIF. — Marcus & Millichap has brokered the nearly $2 million sale of the 17-unit Westwood Apartments, located at 6742 Western Ave. in Buena Park. The brokerage firm’s Joseph Berkson represented the seller, a partnership, in the transaction.
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DAVIS, CALIF. — Hendricks & Partners has brokered the $15.1 million sale of 148-unit Stonegate Village, located at 2950 Portage Bay West in Davis. Hendricks & Partners’ Steven Nelson and Al Inouye represented Stonegate Village Apartments, a limited partnership, in its sale of the property to Burlingame, Calif.-based SFC Stonegate Village Investors LLC.
HOLLYWOOD, CALIF. — Madison Partners has arranged the $7.4 million sale of the 53-unit Franklin Pointe Apartments located at 1825 N. Cherokee Ave. in Hollywood. Originally constructed in 1963, the three-story apartment complex comprises eight studio units, 29 one-bedroom/one-bath units, eight one-bedroom/two-bath units and eight two-bedroom/two-bath units. Madison Partners’ Darin Beebower represented both the buyer and the seller in the transaction — Los Angeles-based 1825 Partners LP and Franklin Pointe Associates LLC, respectively.
BLACKFOOT, IDAHO — Stan Johnson Co. has completed the $1.725 million sale of a 7,790-square-foot shopping center in Blackfoot. Located on a 0.73-acre pad site at a Walmart Supercenter, the retail property is 100 percent leased to three national tenants and one local. Stan Johnson’s Gill Warner represented the retail developer in its sale of the property to a 1031-exchange private investor.
TUCSON, ARIZ. — Grubb & Ellis has negotiated the sale of the historic Coronado Hotel Apartments, located at 402 E. Ninth St. in downtown Tucson, for an undisclosed amount. Built in 1928 and included on the National Registry of Historic Places, the property at the time of the sale was offering low-income families rental assistance through the HUD Moderate Rehab program. Coronado Housing Limited Partnership sold the 42-unit apartment building to a private investor. Grubb & Ellis’ Sandy Alter represented both parties in the transaction.
RIVERSIDE, CALIF. — The $15 million renovation of the University of California Riverside’s 58,546-square-foot Geology building has been completed. Done in multiple phases during the past 3 years while research and experiments remained active in the building, the academic facility received upgrades to building systems, infrastructure and seismic enhancements. Barnhart Balfour Beatty performed the renovation/construction tasks, and WWCOT Architecture provided architecture and engineering services.
ENGLEWOOD, COLO. — Frederick Ross Co. has brokered Case-SRS’s $3.7 million purchase of a 54,280-square-foot facility, located within Compark Business Center at 8530 Concord Center Drive in Englewood, from IBC Holdings. The national distributor of satellite industry supplies plans to move into its new Colorado headquarters in April. Frederick Ross’ Peter Beugg represented the buyer in transaction, and the firm’s Dave Lee and Jason Addlesperger represented the seller. Constructed by IBC Holdings in 2006, the property is conveniently located off of E-470.
CORONADO, CALIF. — Construction is underway for a P-790 Special Operation Forces Combatant Crew Training Facility at the Naval Amphibious Base in Coronado. Designed by KMA Architecture & Engineering to achieve LEED Silver certification, the two-story, $8.6 million project is slated for completion in December. When general contractor Barnhart Inc. finishes, the 35,645-square-foot concrete masonry and steel-frame building will house high bay boat storage and maintenance for up to 18 boats, as well as administration, conference and instructor-support space; classrooms; medical exam rooms; shower and lockers; and weapons vaults.
LOS ANGELES — TPMC California has completed a $5 million redevelopment of a six-floor, 107,000-square-foot Class-A office building located at 12301 Wilshire Blvd. in West Los Angeles. Per Gensler’s design, the 1970s-era building underwent a complete transformation at the ground level, including installation of a new modern glass façade and a full renovation of the building’s lobby and outdoor plaza. TPMC California, a subsidiary of TPMC Realty Corp., originally purchased the office building in September 2008. Completion of the project, TPMC’s first in California, coincided with the grand opening of the property’s newest tenant, Staples, which now occupies 4,135 square feet of ground-floor space fronting Wilshire Boulevard for its new Staples Print & Copy Shop concept.
DENVER — Bank of the West has sold a 43,000-square-foot industrial building, located at 5055 E. 48th Ave. in Denver, to Premier RE Holdings for an undisclosed price. Grubb & Ellis’ Steve Poole and Steve Fletcher and Acquire Real Estate’s Paige Coker-Heiman represented the seller in the transaction, and Doug Viseur of CB Richard Ellis represented the buyer.