LONG BEACH, CALIF. — Developed by Lyon Communities and designed by KTGY Group, Architecture and Planning, the 291-unit luxury apartment community gallery421 had its grand opening on West Broadway, just north of Ocean Boulevard, in the heart of downtown Long Beach. The five-story, mid-rise multifamily development offers a business and conference center, an on-site art gallery, a coffee bar, a state-of-the-art fitness center, a yoga and Pilates studio, a private movie theatre, a game room, a billiards room, a card room and even a special dog-grooming room. There is also 16,000 square feet of on-site, street-level retail.
Western
BEVERLY HILLS, CALIF. — Hudson Pacific Properties has acquired the leasehold interest in a 58,484-square-foot office building, located at 9300 Wilshire in Beverly Hills, in a $15 million, all-cash transaction. Situated at the intersection of Wilshire Boulevard and Rexford Drive, the six-story building is approximately 93 percent leased to a mix of professional service businesses, media and entertainment companies, and financial firms. Madison Partners’ Bob Safai represented the seller, 9300 Wilshire Building LLC, in the transaction.
VISTA, CALIF. — Cassidy Turley BRE Commercial has closed the $2.35 million sale of the Primrose Park Apartments located at 2224 and 2232 Primrose Ave. in Vista. Cassidy Turley‘s Ray Adams represented the seller, Primrose Park Apartments LLC, in the transaction; Epifany Properties, the buyer of the property featuring 22 two-bedroom apartment units, represented itself.
KENT, WASH. — McQuaid Commercial has brokered the $2.1 million sale of a warehouse located at 22613 76th Ave. S in Kent. The building comprises a shell of 44,000 square feet situated on a 77,000-square-foot parcel. Michael McQuaid represented the seller, an out-of-state bank that foreclosed on the property late last year, in its disposition of the property to a local food distribution company.
SUNNYVALE, CALIF. — HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of the 103,254-square-foot Kifer Tech Center, a two-building, Class A office/R&D campus located at the intersection of Lawrence Expressway and Kifer Road in Sunnyvale. TA Associates purchased the fully leased property for an undisclosed amount. Kifer Tech Center’s tenant roster includes Motorola and Siemens Corp. HFF’s Michael Leggett, Gerry Rohm and Chris Pawlik represented the undisclosed seller in the transaction.
SAN LEANDRO, CALIF. — Colliers International has negotiated an almost 144,000-square-foot industrial lease at an approximately 326,000-square-foot warehouse/distribution facility located at 1345 Doolittle Avenue, Suite A, in San Leandro. A company that warehouses and distributes coffee and other products, The Annex is relocating from its Hayward, Calif., facility to the site adjacent to Oakland International Airport to be closer to the Port of Oakland. The building includes 4,800 square feet of office space and more than 20 dock-high loading doors. Colliers International’s Greig Lagomarsino and Casey Ricksen represented the landlord, AMB Property Corp., in the transaction, and Paul Mueller of Cornish & Carey represented the tenant.
WESTMINSTER, COLO. — Stream Data Centers has acquired a 29,500-square-foot, single-story data center in Westminster. The building includes 10,000 square feet of raised floor and 7,500 square feet of disaster-recovery office space. CB Richard Ellis’ Frank Kelley and Doug Bakke represented Stream Data Centers in the transaction; Grubb & Ellis’ Mark Stables, David Horowitz and Jim Kerrigan represented the undisclosed seller.
SAN DIEGO — Dentt Properties has sold a 94,698-square-foot industrial park, located at 2731-2739 Via Orange Way in the Spring Valley area of San Diego, for $12.25 million. The five-building industrial park was 98 percent leased to 45 tenants at the time of sale. ECP Commercial represented the buyer, Monica Handler Penner, in the transaction, which was part of a 1031 exchange; Dentt, a San Diego-based real estate investment and development firm, represented itself.
PHOENIX — Cassidy Turley BRE Commercial has completed the $2 million sale of The Citadel, a 28,548-square-foot mixed-use property located at 8700 E. Pinnacle Peak Rd. in Phoenix, to Brentwood West LLC. Built in 1996, the Class B property, which features office and retail space, was 16 percent leased at the time of sale. Cassidy Turley’s Eric Wichterman, Michael Coover and Michael Kitlica represented the seller, Helios AMC, and the Chandler, Ariz.-based buyer during the sales transaction. Brentwood West LLC has indicated that it plans to renovate the property.
AURORA, COLO. — Unique Properties LLC has brokered the $1.9 million sale of the six-building, Class B Iliff Office Park located at 2323 S. Troy Street in southeast Aurora. The two-story, multi-tenant complex, which consists of 71,902 rentable square feet, underwent more than $600,000 worth of renovations in 2004-2005 and previously sold for $5 million in 2007. Unique Properties, LLC – TCN Worldwide’s Marc Lippitt and Scott Shwayder handled the bank-owned property transaction.