ROSEVILLE, CALIF. — Atlanta-based Apartment Realty Advisors (ARA) has brokered the sale of the 612-unit Slate Creek at Johnson Ranch, a multifamily property located off of Roseville Parkway in Roseville. Completed in 1989, Slate Creek at Johnson Ranch offers one-, two- and three-bedroom floor plans and features three resort-style swimming pools, two fully equipped fitness centers, a resident activity and business center, picnic areas with BBQ grills, and tennis and basketball courts. ARA’s Mark Leary, Curtis Gardner and Nate Oleson represented the private owner in its disposition of the property to San Francisco-based Prime Group.
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PALMDALE, CALIF. — Embassy Suites Hotels has opened the Embassy Suites Palmdale, featuring the brand’s first Design Option III Prototype build in the state of California. Located just off Interstate 14 at 39375 5th St. West in Palmdale, it features 150 suites and more than 3,000 square feet of meeting space. Owned by the Palmdale Lodging Associates LLC and managed by Sun Development & Management Co., the upscale, full-service property is the 30th Embassy Suites location in the Golden State. Just sixty miles north of Los Angeles, Embassy Suites Palmdale includes a state-of-the-art Precor fitness center, a pool and Fourteen Restaurant and Lounge.
LAKEWOOD, COLO. — Jones Lang LaSalle has closed the $28.2 million sale of a nearly 167,000-square-foot office building, located at 12795 W. Alameda Pkwy. in Lakewood, for a local investor. An institutional investor purchased the four-story building, which is totally occupied by the National Park Service on a long-term lease. Jones Lang LaSalle’s Steve Suechting led the brokerage team in making the sale a reality.
The metropolitan Phoenix market differs from other western cities in terms of its affordability of housing, from first-time buyers to retirees. As the market comes out of this recession, Phoenix is poised with available, affordable residential and commercial properties. Also, there still is plenty of land area in which to expand, unlike our counterparts, who are bounded geographically from growth. Columbus, Ohio-based Glimcher Properties is developing the $270 million Scottsdale Quarter, a mixed-use, destination development that opened its first phase in March 2009. Phase II is scheduled to open this March. Located at the southeast corner of Scottsdale Road and the Greenway-Hayden Loop in the North Scottsdale submarket, the entire three-phase project totals nearly 1.25 million square feet and features retail, entertainment, residential/hotel and office components. While many other new Phoenix-area developments have been put on hold or canceled altogether, Scottsdale Quarter’s development continues. Located across from Kierland, Glimcher’s major infill development is able to piggyback on the first successful lifestyle center on the West Coast. Currently, Scottsdale Quarter has attracted national tenants new to Arizona, such as Williams-Sonoma Home, H&M, Brio Tuscan Grille, Oakville Grocery and west-elm. Others tenants, such as Gold Class Cinemas, Nike and Sunglass Hut, are …
LITTLETON, COLO. — Marcus & Millichap has handled Westwood Financial Corp.’s more than $10 million sale of the 122,446-square-foot Coalmine Shopping Center, a grocery-anchored neighborhood center located at West Coal Mine Ave. and South Pierce St. in Littleton. Built in 1976 and renovated in 2006, the property is 92 percent occupied, including anchor tenant King Soopers, Ace Hardware and Goodwill. Marcus & Millichap’s Garrette Matlock and Jon Hendrickson represented Westwood in its sale of the center to New York-based partnership Rothenberg and Rosenfield Inc.
CERRITOS, CALIF. — Voit Real Estate Services has brokered Bixby Land Co.’s $6.95 million sale of a 100,000-square-foot industrial building located at 17211 Valley View Ave. in Cerritos. United Exchange Corporation, an import/export firm, purchased the property. Cameron Driscoll and Luke McDaniel of Voit, a member of CORFAC International, represented the seller in the transaction, and the buyer was represented by Daum Commercial Real Estate Services.
RIO RANCHO, N.M — Tallen & Keshen Holdings has acquired a newly opened Walgreens, located adjacent to an approximately 340,000-square-foot hospital complex currently under construction in Rio Rancho. The store’s sales will benefit from a drive-through pharmacy, a full liquor department and eventually fresh-food selections.
GOODYEAR, ARIZ. — Suntech Arizona LLC and its parent company Suntech Power Holdings Co. have selected a Phoenix area site for its first U.S. solar plant. In a transaction negotiated by CORFAC International’s Anton Qiu (TRI Commercial in San Francisco) and Andrew Jaffe (Commercial Property Inc. in Tempe, Ariz.), Suntech selected 3801 South Cotton Lane in Goodyear, a property owned by Duke Realty, for its new 118,000-square-foot headquarters and manufacturing plant. Suntech Arizona plans to occupy the facility around July 1 after a major tenant-improvement project.
DUBLIN, CALIF. — Colliers International has arranged Loja Real Estate Fund 1’s purchase of The Shops at Waterford, located at 4440 Tassajara Road in Dublin, from Shea Properties for what is believed to be a price of $44 million. The shopping center is anchored by a 55,000-square-foot Safeway and integrated with a 390-unit apartment complex. Colliers’ Kevin Van Voorhis and Scott Kinsey represented the buyer in the transaction, and Eastdil Secured’s Chris Hoffman and Robb Wehmueller represented the seller.
COLORADO SPRINGS, COLO. — Atlanta-based Apartment Realty Advisors (ARA) has handled Corman Leigh’s $19 million sale of the 240-unit Bellaire Ranch apartment community, located near the front gate of Fort Carson in southeast Colorado Springs, to Denver-based Capital Real Estate. Built in 2003 and the only Class A apartment community in its submarket, Bellaire Ranch was 98.3 percent occupied at the time of the sale. ARA’s Doug Andrews, Jeff Hawks, Ken Greene and Kevin McKenna represented the seller in the transaction.