BELLFLOWER, CALIF. — Hanley Investment Group Real Estate Advisors has handled the $2.1 million sale of a multi-tenant retail strip center located at 17141-17167 Bellflower Blvd. in Bellflower. Built in 1980, the 12,155-square-foot Bellflower Plaza was 92 percent occupied at the time of the sale. Hanley Investment Group’s Kevin Fryman and Eric Wohl represented the buyer and the seller, both private investors from Los Angeles, in the transaction.
Western
CHINA LAKE, CALIF. — On behalf of the Naval Facilities Engineering Command, Barnhart Inc. has broken ground on a $9 million In-Service Engineering Facility at the Naval Air Weapons Station in China Lake. KMA Architecture & Engineering has assisted on the 21,700-square-foot design/build project, which is slated for completion in June 2010.
DENVER — On behalf of Green Mountain Corporate Center III LLC, NorthMarq Capital has arranged first-mortgage financing in the amount of $4.5 million for the 74,380-square-foot Corporate Center, an industrial property located in Denver. The transaction was a refinance of a maturing CMBS loan. NorthMarq’s Nancy Ferrell and Steven Koeneke arranged the financing through the company’s correspondent relationship with Aetna Life Insurance Company.
PHOENIX — Sperry Van Ness has negotiated the $3.88 million acquisition of a 77,778-square-foot warehouse located at 824 E. University Road in Phoenix. Represented by Sperry Van Ness’ Adam Lopez, Majik Ventures & Zhongya Shaped Aluminum purchased the centrally located distribution facility from RGR Development Corp., which was represented by CB Richard Ellis’ Pat Feeney.
CORONA, CALIF. — SL Residential Inc. has completed construction of the 203-unit, 275,000-square-foot Valencia Terrace, a full-service, senior-living rental campus located at 2300 S. Main St. in Corona. Carlsbad, Calif.-based Kisco Senior Living is the developer of the property, which consists of both independent and assisted-living units. With an IPA design reminiscent of a Spanish hacienda, Valencia Terrance provides a resort-like environment that includes a pool and spa, two beauty salons, a commercial kitchen, a theater room, an exercise gym, a library, a bistro and a resident lounge.
OCEANSIDE, CALIF. — Hendricks & Partners has negotiated the $16.1 million sale of the 136-unit Rancho Las Brisas apartment complex located at 3699 Barnard Dr. in Oceanside. Built in 1974, the property consists of 11 two-story buildings featuring 68 one-bedroom/one-bathroom units and 68 two-bedroom/two-bathroom units. Rancho Las Brisas’ community amenities include a swimming pool and spa, barbecue areas, a children's play area, a tennis and basketball court, a recreation room, and two laundry facilities. Represented by Hendricks & Partners’ Steve Huffman and Dick Bassett, Terra Las Brisas LLC sold the property to Lone Tree Empire LLC.
WEST HOLLYWOOD, CALIF. — Lee & Associates-LA North/Ventura Inc. has handled Joey Bishop Productions Inc.’s $6.2 million sale of a prime West Hollywood retail property to Sakhi Properties LLC. Located at 359-373 Robertson Blvd., the two multi-tenant buildings totaling 6,876 square feet sold for $901 per square foot. Lee & Associates’ Jay Martinez represented the estate of the entertainer and member of the famed Rat Pack, and the firm’s Mike Tingus represented Sakhi, which will house its business, Amadi Carpets, at the location in one of the most prestigious shopping districts in the Los Angeles metro.
LAS VEGAS — The 500,000-square-foot Crystals retail and entertainment district has opened at CityCenter, the second destination to open at MGM Mirage’s massive urban resort destination. Retailers include one of the largest Louis Vuitton stores in the world, as well as flagship locations for Tiffany & Co., Prada, Gucci, Roberto Cavalli and Ermenegildo Zegna. Other luxury retailers opening large-format stores include Bulgari, Cartier, Christian Dior, Fendi and Versace. Many of the tenants will be opening this month, with the balance opening in the first half of 2010. The Taubman Company was in charge of assembling the high-profile collection of luxury retailers and dining destinations, which includes Eva Longoria Parker’s Beso. Studio Daniel Libeskind designed the exterior architecture of the district, and David Rockwell and Rockwell Group handled the interior design.
SANTA CLARA, CALIF. — Holliday Fenoglio Fowler L.P. (HFF) has brokered the $90.52 million sale of Bayshore Data Center in Santa Clara. Located at 1350 Duane Ave. and 3080 Raymond St., the two-building, 185,000-square-foot complex is fully leased. HFF’s Bryan Ley, John Crump, Gerry Rohm and Zane Sweet represented Inland Western REIT in its sale of the property to Digital Realty Trust Inc.
BURIEN, WASH. — GVA Kidder Mathews has brokered Bonney-Watson’s sale of its Parker Chapel property to King County Fire District #2, which will use the site to build a new, state-of-the-art fire station. Dan Mathews of GVA Kidder Mathews represented both parties in the transaction.