MOORPARK, CALIF. — Lee & Associates-LA North/Ventura brokered the more than $2.66 million sale of a 16,391-square-foot industrial building located within the Patriot Commerce Center at 875 Patriot Drive in Moorpark. While most of the buildings at the Ventura County center are fully built out, the two units acquired by ProDoc are in shell condition allowing the buyer to tailor the facility to its specifications. Lee & Associates’ Mike Tingus, Grant Fulkerson and Scott Linklater represented the developer, M.W. Ossola & Associates, in the transaction, and Tom Siciliano of TDS Management represented the buyer.
Western
CULVER CITY, CALIF. — Colliers International has presided over the almost $2.69 million trade of a 2,250-square-foot Starbucks Coffee store, located at 12313 Jefferson Blvd. in Culver City. Built in 2007, the single-story, single-tenant retail building has a corporate-guaranteed lease by the renowned Seattle-based coffeehouse chain. Colliers’ Kathleen Silver and Kay Thorpe represented the private-investor buyer in the transaction, and the brokerage firm’s Jereme Snyder represented the seller, Olive Investment Group LLC.
TUSTIN, CALIF. — Lee & Associates has brokered the $3.82 million sale of the 24,814-square-foot Franklin Court, an industrial building located at 14262 Franklin Ave. in Tustin. Built in 1982, the property consists of two fully leased units. Lee & Associates’ Brian Garbutt and Phil Cohen represented the seller, H&H Properties, in the transaction, and Dennis and Jordan De Meis of Southwest Commercial represented the buyer, TWR Properties LLC.
MESA, ARIZ. — Cassidy Turley BRE Commercial has completed the $3.7 million sale of Falcon Commerce Park, a multi-tenant industrial property located at 1610, 1660 and 1750 N. Rosemont in Mesa. Hyatt Investments USA LLP purchased the three-building, 74,446-square-foot complex, which was built in 2009, from Arizona Graystar Return LLC. Cassidy Turley BRE Commercial’s Paul Boyle and Rick Danis represented the seller in the transaction, and Andrew Jaffe of Commercial Properties represented the buyer.
SCOTTSDALE, ARIZ. — Whitestone REIT has purchased the 62,533-square-foot Desert Canyon Shopping Center, located at the intersection of East McDowell Mountain Ranch Road and 105th Street in northern Scottsdale, for $3.65 million. The retail property was bought out of foreclosure from a regional bank in an all-cash transaction. Situated within the 3,200-acre McDowell Mountain Ranch master-planned community, Desert Canyon Shopping Center was 65 percent occupied at the time of sale.
LAKE HAVASU CITY, ARIZ. – Marcus & Millichap has presided over the $5 million trade of the Lake Havasu RV & Boat Storage, a self-storage facility located at 1808 Victoria Farms Road in Lake Havasu City. Built and opened in October 2007, the property consists of 149,340 square feet of fully enclosed boat and RV units and 54,970 square feet of traditional self-storage units. Marcus & Millichap’s Nicholas Walker, Chico LeClaire, Jacob Steele and Andy Glinski represented both the limited-liability-company buyer and the financial-institution seller in the transaction.
GOODYEAR, ARIZ. — Jones Lang LaSalle has completed a 153,000-square-foot warehouse lease for Schoeller Arca Systems at 17300 W. Broadway Road in Goodyear. Terms of the deal were not disclosed. The 100-year-old, Netherlands-based global market leader in the manufacturing of sustainable plastic packaging systems will occupy the one-story warehouse/manufacturing property sometime in second quarter. Jones Lang LaSalle’s Anthony Lydon and Marc Hertzberg represented Robert Engle, SAS’s president, in the long-term industrial lease. Dan Calihan and Pat Feeney of CB Richard Ellis represented the landlord, BET Investments.
LOS ANGELES — Marcus & Millichap has presided over the $2.1 million trade of a 9,376-square-foot mixed-use property located at 410 North La Cienega Blvd. in Los Angeles. Built in 1937 and about 87 percent occupied at the time of the sale, the property consists of approximately 2,500 square feet of ground-floor retail space and five office suites totaling 4,716 square feet on the second floor. There is also 2,100 square feet of warehouse space, which is currently being used for tandem parking. Marcus & Millichap represented both the private-investor buyer and the seller, CRP Properties, in the transaction.
REDLANDS, CALIF. — BlackRidge Real Estate Group LLC has acquired a 147,677-square-foot industrial building, located at 1455 Research Drive within the Redlands Business Center in Redlands, from Bixby Land Co. for $7.38 million. Voit Real Estate Services’ Frank Geraci and Walt Chenoweth represented the buyer in the transaction, and Jones Lang LaSalle’s Ruben Goodsell, Michael McCrary and Peter McWilliams represented the seller. Built in 2006 and 50 percent leased at the time of sale, the one-story, freestanding, concrete tilt-up building features 30 dock-high doors, three ground-level ramps and 6,000 square feet of office space.
VALLEJO AND MORGAN HILL, CALIF. — Strategic Storage Trust Inc. has acquired two properties in the San Francisco Bay Area, totaling approximately 1,350 units, for an aggregate price of $14.09 million. Located at 3480 Tennessee Street in east Vallejo, the 860-unit property consists of approximately 75,000 rentable square feet across seven single-story buildings on about 4.1 acres. Located at 222 San Pedro Ave. in Morgan Hill, the 490-unit property consists of 61,000 rentable square feet spanning three single-story buildings on approximately 3 acres. Built in 2001 and 1997, respectively, the new sites will be re-branded under the SmartStop Self Storage trade name. Holliday Fenoglio Fowler LP’s Aaron Swerdlin represented the sellers in the transaction.