LATHROP, CALIF. — On behalf of Gordon Trucking, The Alliance Group Commercial Construction will break ground for a 23,000-square-foot concrete tilt-up satellite terminal facility this month. Slated for completion in November, the new building will allow the Washington-based trucking firm to provide equipment-servicing dispatch and refueling for the fleet, which exceeds 1,600 vehicles nationwide. The property will also include approximately 13 acres of concrete paved truck parking.
Western
ENGLEWOOD, COLO. — Sandler-Johnson Property Management has sold a 45,908-square-foot industrial building, located at 1600 W. Dartmouth in Englewood, to Dr. Bruce Elsey for $1.9 million. Alec Rhodes and Tyler Smith of Cassidy Turley Fuller Real Estate represented the seller in the transaction. The single-story, stand-alone facility was built in 1975.
SANTA CLARITA, CALIF. — Madison International Realty has acquired a 50 percent equity interest in the 126,769-square-foot Bridgeport Marketplace, a mixed-use property located 30 miles north of downtown Los Angeles in the Valencia area of Santa Clarita. The value of the transaction was approximately $10 million. Developed in 2008 and 94.5 percent leased, Bridgeport Marketplace consists of a 97,786-square-foot retail component and 28,953 square feet of medical office space. Valley Produce Market, Walgreens and California Pizza Kitchen are the major retail tenants; the medical office component is long-term leased to the Southern California Orthopedic Institute.
SANTA MONICA, CALIF. — On behalf of a private investor, MEI Real Estate Services has arranged $11.5 million in construction financing for a mixed-use development in downtown Santa Monica. When completed in fourth quarter 2012, the project will consist of 40 high-end residential suites over 8,500 square feet of retail.
LAS VEGAS — CB Richard Ellis has closed the $4.8 million sale of the Sahara Rainbow Center, located at 2350 S. Rainbow Boulevard in Las Vegas. Omninet Sahara LLC purchased the 53,000-square-foot retail complex. CBRE’s Charles Moore and Marlene Fujita represented the seller in the transaction.
IDAHO FALLS, IDAHO — CB Richard Ellis has closed the $4 million sale of the 220,000-square-foot Yellowstone Square, a retail center located in Idaho Falls. West One Logistics purchased the property, which was part of a 22-property, nationwide portfolio owned by General Growth Properties. CBRE’s Eric Gustafson and Craig Thomas represented GGP, which recently emerged from a Chapter 11 bankruptcy restructuring, in the transaction.
VISTA, CALIF. — Hendricks & Partners has brokered the $7.35 million sale of the 64-unit Mountain View, an apartment community located at 1370 Calle Jules in Vista. Built in two phases in 1975 and 1980, the multifamily complex features one studio unit, 22 one-bedroom units and 41 two-bedroom units. Hendricks & Partners’ Allen Chitayat represented the Del Mar, Calif.-based seller, M.S. Browar Family Trust/Okovita Family Revocable Trust, in the transaction, and Ray Adams of Cassidy Turley BRE Commercial represented the Rancho Palos Verdes, Calif.-based buyer, 46 East 57th Street LLC. Financing in the amount of $4.4 million was arranged by Ron Hernandez of Union Bank.
MESA, ARIZ. — Cassidy Turley BRE Commercial has presided over the $3.8 million trade of a more than 152,000-square foot distribution building located at 225 S. Dobson Road in Mesa. The John W. Widera and Leslie Maria Widera Living Trusts purchased the industrial property from San Francisco-based Krausz Puente LLC. Built in 1973, the facility was the former home of Levitz Furniture and will be the new home of Arizona Corrugated Container LLC, a company operated by the new owner. Cassidy Turley BRE Commercial’s Mike Haenel, Andy Markham, Bob Buckley, Steve Lindley and Tracy Cartledge represented the seller in the transaction, and the brokerage firm’s Brian Lee represented the buyers.
GREEN VALLEY, ARIZ. — Grubb & Ellis has represented the Corporation of the Presiding Bishop of the Latter-day Saints in its $1.3 million purchase of 5.4 acres of land at the northwest corner of Desert Bell and La Canada in Green Valley. The parcel will be used for a church, the construction of which will commence later this year. Grubb & Ellis’ Jeff Utsch represented the buyer in the transaction, and the seller, WLC Green Valley Ltd. Partnership, represented itself.
TUCSON, ARIZ. — Stan Johnson Co. has negotiated the sale of a 37,540-square-foot retail building, located within the North Pima Center at 3749 W. Ina Road in Tucson, to a Dallas-based private investor. Fully leased to Michaels and Ace Hardware, the property was listed for more than $4.43 million. T. Reed Hudson of Stan Johnson Co. represented the seller, a Los Angeles-based investor, in the transaction.