SEATTLE — Marcus & Millichap has handled the $3.6 million purchase of Alki Place Apartments, a 28-unit apartment property located at 3000 60th Ave. Southwest in Seattle. The property consists of 16 750-square-foot, one-bedroom/one-bathroom units, six 825-square-foot, two-bedroom/one-bathroom units and six 875-square-foot, two-bedroom/two-bathroom units. Marcus & Millichap’s Dan Swanson represented the buyer, a private investor, in the transaction.
Western
LANCASTER, CALIF. – Barnhart-Heery has completed the $22.2 million William J. “Pete” Knight Veterans Home of California in the city of Lancaster. The single-story, 46,620-square-foot complex consists of two residential wings with a total of 60 beds for full-time residents, a 50-person Adult Day Health Care wing, and a services and administration wing. The four wings all surround a central courtyard. Located on a 30-acre site, the home will provide California’s disabled and aging veterans with rehabilitative, residential and medical care services.
ORANGE, CALIF. — DAUM Commercial Real Estate Services handled the $2.83 million purchase of a 29,800-square-foot industrial building located at 671 N. Poplar St. in Orange. DAUM’s Chris Migliori represented Bernie Smokowski in the purchase of the property from Gallegos Brothers II LLC, which was respresented by Lee & Associates.
GALT, CALIF. — NAI BT Commercial has handled the more than $5 million sale of a newly constructed 21,304-square-foot freestanding retail building located at 10520 Twin Cities Rd. in Galt between Sacramento and Stockton. Tractor Supply Company has a 15-year net-lease agreement on the property. NAI’s Andy Bogardus, Douglas Longyear and Chris Sheldon represented the seller, and the brokerage firm’s Jay Hagglund joined Bogardus in representing the buyer.
SEATTLE — Boston Capital has partnered with the Seattle Housing Authority (SHA) in the development of Tamarack Place Apartments, an affordable, green, 83-unit multifamily project in Seattle. Part of the second phase of SHA’s mixed-use, urban infill Rainier Vista redevelopment, Tamarack Place Apartments will consist of 24 one-bedroom, 53 two-bedroom and six three-bedroom units in a single, four-story building. Apartments will accommodate residents with a range of incomes below 60 percent of the area median income.
PORTLAND, ORE. — Tonkon Torp LLP has signed an extension of its 62,000-square-foot Class A office lease with General Growth Properties at Pioneer Tower in downtown Portland and will also expand onto a whole new floor. MulvannyG2 Architecture will provide space-planning and interior-design services for Tonkon Torp’s headquarters expansion project. The first phase of construction will begin in February in the existing two-floor space, while the second, expansion phase will start in June 2010, with final occupancy set for August 2010.
NORTH HOLLYWOOD, CALIF. — Rick Raymundo of Marcus & Millichap has negotiated the $1.7 million purchase of a 22-unit apartment complex located at 6733 Bakman Ave. in North Hollywood. He represented 6733 Bakman LLC in its purchase from Jermo LLC, which Raymundo had sold the property to in 2007.
RICHMOND, CALIF. — The first phase of the Richmond Civic Center’s $91 million revitalization has been completed. It included the renovation of City Hall, the Hall of Justice and the combination Civic Auditorium/Art Center. Designed by Los Angeles-based Nadel Architects, the project is being led by Richmond Civic Center Partners LLC, a design-build partnership consisting of Alliance Property Group and Wasatch Advantage Group LLC. Phase II will include a brand-new, 80,000-square-foot Public Safety Building, and Phase III will feature mixed-use development consisting of market-rate and affordable housing, office space, and ground-level retail located along the MacDonald Avenue corridor.
RIVERSIDE, CALIF. — Barnhart-Heery has broken ground for an $85 million School of Nursing and Science/Math Complex at Riverside City College in Riverside. The complex will feature a two-story, 37,000-square-foot nursing facility and a four-story, 88,000-square-foot science/math building. The project encompasses 26 total classrooms, 12 lecture halls, 12 laboratories, two teleconference rooms, a Cyber Café, a Healing Garden, and faculty and administrative offices. Irvine, Calif.-based gkkworks has designed the complex to be LEED certified.
CITY OF INDUSTRY, CALIF. — Lee & Associates brokered the $5.6 million sale of a 53,964-square-foot industrial property located at 528-538 S. 6th Ave. in City of Industry. Built in 2003, the property comes equipped with eight dock-high doors, 24’ ceiling clearance and a large fenced yard. Lee & Associates’ Jeff Bethel and Michael Lee represented the local buyer, Richwell Property Management LLC, and Bethel represented the seller, Catesgarb Holdings Inc., a local real estate investment company.