EL MONTE, CALIF. — Cathay Bank has sold a 51,144-square-foot former Chrysler Jeep Dodge dealership, located at 11705-11709 Valley Blvd. in El Monte, for $4.66 million. The 4.2-acre property also has a 2,760-square-foot restaurant building. The buyer is Los Angeles County-based Prime Southland Real Estate. John Archibald, Mike Knudsen and Guillermo Olaiz of Coldwell Banker Commercial's Glendale, Ca., office represented the seller. The buyer was not represented in the transaction.
Western
DENVER — Pinnacle Real Estate Advisors has arranged the $4.15 million acquisition of the 81-unit Loretto Manor, an apartment building located at 2775 S. Federal Blvd. in Denver. Constructed in 1973, the multifamily property consists of 42 one-bedroom/one-bath units and 39 two-bedroom/one-bath units. In the transaction, Pinnacle Real Estate Advisors’ Mike Phillips represented the buyer, who plans to completely renovate the building during the next 2 months.
VISTA, CALIF. — Cassidy Turley BRE Commercial has brokered the $2.35 million sale of the 22-unit Primrose Park Apartments, located at 2240-60 Primrose Ave. in Vista. Cassidy Turley BRE Commercial’s Ray Adams represented the seller, Primrose Park Apartments LLC, in the transaction, and Monty James of Pacific Coast Executive Realty represented the buyer, Chris Megison of North County Solutions for Change.
BOULDER, COLO. — Marcus & Millichap has brokered the $2.95 million sale of the 16-unit Cascade Apartments, located at 765-785 20th Street in Boulder. Built in 1950 and fully occupied at the time of sale, the multifamily property consists of 10 two-bedroom units and 6 one-bedroom units. Marcus & Millichap’s Brian Haggar represented the private-investor seller in the transaction.
LANCASTER, CALIF. — Marcus & Millichap has presided over the $9.5 million trade of the 120-unit Antelope Valley Apartments, a 114,004-square-foot Section 8 complex located at 43460 32nd St. West in Lancaster. Built in 1983 on 8.8 acres, the multifamily property features 106 two-bedroom/one-bath units and 14 three-bedroom/one-and-a-half-bath units. Marcus & Millichap’s Matthew Friedman represented both the buyer and the seller in the transaction.
PHOENIX — Cassidy Turley BRE Commercial has completed the $6.25 million sale of the 125-unit Mission Palm apartments, located at 6131 N. 16th Street in Phoenix. Clear Sky Resolution Properties LP purchased the multifamily complex from Tempe, Ariz.-based Mission Palms LLC. Cassidy Turley BRE Commercial’s David Fogler and Steven Nicoluzakis represented both parties in the transaction.
SAN DIEGO — NorthMarq Capital has arranged $7.8 million in first-mortgage financing for a 67,053-square-foot office building, located at 9660 Granite Ridge in San Diego. Based on a 7-year term and a 25-year amortization schedule, the loan was arranged by NorthMarq’s Steve Hollister through the Minneapolis-based firm’s relationship with Torrey Pines Bank. The single-tenant, non-credit office building with specialized improvements is occupied by Clear Channel Communications.
COLTON, CALIF. — NAI Capital has arranged the $4.15 million purchase of a 290,047-square-foot industrial property located at 311 W. Citrus Ave. in Colton. The seller, Splash Properties LLC, leased back 110,000 square feet of the property for its stone-fabrication business. NAI Capital’s Nicholas Chang, Richard Lee and Francisco Camacho represented the undisclosed buyer, which will use the larger portion of the property for a food-processing facility, in the transaction. Lee & Associates represented the seller.
LOS ANGELES — Charles Dunn Co. has completed the $4.75 million sale of Russell Manor, a 35-unit apartment community located at 5333 Russell Ave. in the Hollywood district of Los Angeles. Built in 1973, the three-story property consists of 11 two-bedroom/two-bath units and 24 one-bedroom/one-bath apartment homes. Charles Dunn’s Mark Ventre represented the buyer, Hollywood-based ROM Investments, as well as one-half of the selling interest, a private trust, in the all-cash transaction.
SAN DIEGO — Meridian NP LLC has sold a 4,295-square-foot U.S. Bank pad to Belesquez Trust for $3 million. Epsteen & Associates/San Diego LLC’s Joe Wojdowski represented the San Diego-based seller in the transaction, and John Andreini of Capital Pacific represented the San Francisco-based buyer. The property is situated within a Fresh & Easy Neighborhood Market-anchored retail center in the North Park area of San Diego.