ESCONDIDO, CALIF. — Marcus & Millichap has brokered the $5.2 million sale of State Place Business Park, a 49,324-square-foot multi-tenant business park located at 300-398 State Place in Escondido. Built in 1990 and 1999, the four-building property was more than 90 percent leased at the time of sale. Marcus & Millichap’s Michael Lawrence assisted the seller in a transaction involving two limited-liability companies.
Western
IDAHO SPRINGS, COLO. — Pinnacle Real Estate Advisors has handled the $1.75 million sale of 40-unit The Big Horn Apartments, located 30 miles west of Denver at 3201 Riverside Drive in Idaho Springs. Constructed in 1974, the multifamily property consists of four studio, 18 one-bedroom/one-bath and 18 two-bedroom/two-bath units. Pinnacle Real Estate Advisors’ Matt Ritter and Jeff Johnson assisted the seller in the transaction, and Sandy Feld and Mike Hehir of Shames-Makovksy Realty Co. assisted the buyer.
SANDY, UTAH — On behalf of CC Industries, Binswanger has closed the sale of a two-building, 60,827-square-foot facility, located two blocks from Interstate 15 on 11.321 acres at 9100 South 500 West in Sandy. The Salt Lake City-based buyer was LRF Development III LLC. Eric Dienstbach of Philadelphia-based Binswanger represented the seller.
LA MIRADA, CALIF. — Voit Real Estate Services and CB Richard Ellis have completed a 10-year lease of a 120,348-square-foot industrial property located adjacent to the Orange County line at 16050 Canary Ave. in La Mirada. Voit’s Luke McDaniel and Cameron Driscoll and CBRE’s Rick McGeagh and Josh Bonwell represented the landlord, Mirada Enterprises, in the transaction, and NAI Capital’s Doug Wubbena represented the lessee, E.T. Horn Co.
CHANDLER, ARIZ. — Marcus & Millichap has handled the more than $3 million sale of two industrial buildings, located at 208 South McKemy Ave. and 205 South Beck Avenue in Chandler. The brokerage firm’s Danny Kahn represented the undisclosed seller in the transaction. The properties total 97,809 square feet.
PHOENIX — Cassidy Turley BRE Commercial has completed the $1.95 million sale of a 32,350-square-foot Class B industrial building, located at 4825 E. Ingram Street in Phoenix. Cassidy Turley’s Kent Hanson represented the seller, Ingram LDB LLC, in the transaction, and MarCor’s Fran Marotta represented the buyer, Falcon Ingram LLC.
SCOTTSDALE, ARIZ. — CB Richard Ellis (CBRE) has negotiated the $10 million sale of a vacant 136,556-square-foot Class A office building located at 17600 N. Perimeter Drive in Scottsdale. Constructed in 1999 on nearly 11 acres, the former corporate headquarters of First National Bank of Arizona has been vacant since July 2008. Situated within the Perimeter Center development, the property includes a 7,700-square-foot raised-floor data center and a 5,800-square-foot cafeteria. CBRE’s Bob Young, Glenn Smigiel, Steve Brabant, Rick Abraham and Jerry Noble represented the seller, a court-appointed receiver, in the transaction, and the brokerage firm’s Jim Fijan and Kevin Calihan represented the Phoenix-based buyer, WDP Properties. The previous owner was FNBHQ LLC.
ROCKLIN, CALIF. — Cassidy Turley BT Commercial has brokered the $2.025 million sale of the 67-room Rocklin Park Hotel, located at 5450 China Garden Road in Rocklin. Onsite amenities include the Chops Grill & Oven and the luxurious Spa LaLé. Cassidy Turley BT Commercial’s Scott Griemsmann and Eric Gunderson represented the seller, LNR Partners LLC, in the transaction; the buyer was OMKAR Rocklin Inc.
COLORADO SPRINGS, COLO. — Ford Motor Credit Co. has renewed its lease for 86,900 square feet of office space, located at 9930 Federal Drive in Colorado Springs, with landlord Wells Real Estate Funds. Grubb & Ellis | Quantum Commercial Group’s Michael Palmer was the listing agent in the transaction, and CB Richard Ellis’ Marty Johnson was the cooperating broker.
LOS ANGELES — Marcus & Millichap has brokered the $15 million sale of Sherman Village, a 150,000-square-foot development site located at 12629-12729 Riverside Drive in the Valley Village area of Los Angeles. The 3.45-acre site near the Sherman Oaks Fashion Square and the Sherman Oaks Galleria is entitled for the development of 264 multifamily units on eight parcels. Marcus & Millichap’s Greg Harris represented both the Los Angeles-based buyer, IMT Capital, and the Southern California-based private-investor seller.