SAN FRANCISCO — Coast Capital Income Fund LLC has sold a mixed-use property, located at 1233 Polk Street in San Francisco, to an undisclosed investor for $2.25 million. Situated in the Polk Gulch neighborhood, the retail/hotel property is leased to Mayes Oyster House, one of the oldest restaurants in the City by the Bay. Kidder Mathews’ Clayton Jew and Morgan Thomas represented the seller in the transaction.
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PORTLAND, ORE. — Marcus & Millichap has presided over the $5.65 million trade of the 81,344-square-foot Cascade Business Park, an industrial property located at 19606 NE San Rafael Street in Portland. Originally built in 2000, the property is 100 percent leased as a storage and distribution center for a food company. Marcus & Millichap’s Michael Kapnick and Ryan O'Leary represented both the limited-liability-company buyer and the private-investor seller in the transaction.
LOS ANGELES — Jones Lang LaSalle has completed the sale of Sunset Pacifica, a six-story, mixed-use residential building located at 17351 West Sunset Blvd. in the Pacific Palisades district of Los Angeles. Terms of the deal were not disclosed. Situated just minutes from downtown Santa Monica, the vacant 68,842-square-foot property was constructed in 1983. Jones Lang LaSalle’s Patrick Shiver and Javier Rivera represented U.S. Bank in the transaction, and Clark Everitt of Investment Real Estate Associates represented the Sonoma, Calif.-based buyer, Nine Mile Investments. The new owner will immediately begin the build-out of 16 luxury apartments units and two commercial condominiums.
LOS ANGELES — NAI Capital has brokered the more than $2.2 million sale of the 49-unit Coronado Tower, an apartment complex located at 610 S. Coronado St. in Los Angeles. Rumored to have once been home to celebrities such as Mae West and Stan Laurel, the 24,000-square-foot multifamily building is situated in the heart of the Mid-Wilshire district. NAI Capital’s Rod Delson represented the seller, She Investments LLC, in the transaction, and Brian Volk of Whitehouse Properties represented the buyer, Yoav Abourmad.
SUNNYVALE, CALIF. — Colliers International has negotiated Presidio Investments and Rockpoint Group’s purchase of a 95,826-square-foot, single-story office/R&D building, located at 350 West Java Drive within Moffett Business Park in Sunnyvale. Terms of the deal were not disclosed. Situated on 6 acres of land, the vacant property constitutes a value-add opportunity with significant upgrades to the lobby, front entranceway, façade and landscaping on the to-do list. Colliers International’s Mike Rosendin, Craig Fordyce and Jim Beeger assisted in the transaction.
SIMI VALLEY, CALIF. — NAI Capital has arranged the purchase of an 81,646-square-foot industrial property located at 61-69 W. Moreland Road in Simi Valley. Terms of the deal were not disclosed. NAI Capital’s David Young and Chad Gahr represented the buyer, Entertainment Earth Holdings LLC, in the transaction, and Scott Caswell of Delphi Business Properties represented the seller, RGH Holdings LP. The distributor of action figures and toy collectables will relocate from its two buildings, totaling approximately 30,000 square feet, in North Hollywood to the new building this summer. Prior to sitting vacant for 2 years, the industrial building, which includes approximately 15,000 square feet of office space, was occupied by Ronco, the company made popular by Ginsu Knives.
SAN CLEMENTE, CALIF. — Colliers International has presided over the $1.75 million trade of a 9,219-square-foot retail property located at 1011 – 1041 Avenida Pico in San Clemente. Built in 2005 and 50 percent occupied at the time of sale, the multi-tenant retail center is part of the 35,000-square-foot Courtyards at Talega, a community shopping center. Colliers International’s Ian Schroeder and Maurice Nieman represented both the buyer, SVN Equities, and the seller, JP Morgan Chase, in the transaction.
COSTA MESA, CALIF. — Grubb & Ellis has closed the $5.6 million sale of a 55-unit senior-housing facility located at 2619 Orange Ave. in Costa Mesa. Remodeled in 1992 and approximately 50 percent leased at the time of sale, the two-story, 112-bed building offers assisted-living and memory care. Grubb & Ellis’ Alan Ursillo, Robert Black and Sean McNee represented the sellers, Victor Charnetsky and Leticia Charnetsky, in the transaction; the buyer, Care Senior Living, represented itself.
SCOTTSDALE, ARIZ. — Cassidy Turley BRE Commercial has facilitated the $4.3 million trade of Airpark 99, located at 15525, 15575, 15551 and 15679 N. 83rd Way in Scottsdale. Private investor Kootenay Holdings (K2H Airpark LLC) purchased the four-building, multi-tenant flex industrial property from Turner Development (TOF Airpark LLC.) Cassidy Turley BRE Commercial’s Bob Buckley, Steve Lindley and Tracy Cartledge represented both parties in the transaction.
RANCHO DOMINGUEZ, CALIF. — Colliers International has completed the $3.5 million sale of a 27,052-square-foot industrial building, located at 18618 S. Ferris Place in Rancho Dominguez. Built in 2007, the property includes 26' clear height and three dock-high doors. Colliers International’s Josh May represented the private-investor seller, Ferris Place LLC, in the transaction, and Terry Reitz of Grubb & Ellis represented the Inglewood, Calif.-based buyer, ILS Inc. The importer will use the facility as its new headquarters.