POWAY, CALIF. — Toyota of Poway has purchased a 19,000-square-foot auto dealership and a 6,500-square-foot service building, located on 2.84 acres at 13631 and 13611 Poway Road, from a private seller for $5.7 million. CB Richard Ellis’ Paul Komadina and Jim Rinehart represented the buyer in the transaction; the seller represented itself.
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NORTH LAS VEGAS — Alliance Residential Co. has acquired The Reserve at Arrow Canyon, a 426-unit apartment community located at 5005 Losee Road in North Las Vegas. Terms of the short-sale transaction were not disclosed. Initially developed as condominiums, the multifamily complex has been operated as a rental community since completion in 2009, offering one-, two- and three-bedroom units that average 1,076 square feet. To be re-branded under Alliance’s Broadstone community name, The Reserve at Arrow Canyon is also slated for repositioning and improvements. The purchase opportunity was sourced through an existing relationship with the property seller’s lender.
PHOENIX — Cassidy Turley BRE Commercial has completed the $7.8 million sale of the 133,600-square-foot Mountain Vista Commerce Center located at 14647 S. 50th St. in Phoenix. California-based Buchanan Street Partners purchased the multi-tenant, flex industrial property from Berkadia Commercial Mortgage, a special servicer for a CMBS pool. Built in 1999, the property was 72 percent leased at the time of sale. Cassidy Turley BRE Commercial’s Bob Buckley, Steve Lindley and Tracy Cartledge represented both the buyer and the seller in the transaction.
ERIE, COLO — Marcus & Millichap has brokered the $5.34 million sale of a 14,490-square-foot Walgreens located at 490 Erie Parkway in Erie. Marcus & Millichap’s Kirk Trammell represented both the private-investor buyer and the limited-liability-company seller in the deal; the firm’s Michael Hoffman assisted in the transaction involving the single-tenant, net-leased property.
HAYWARD, CALIF. — Lee & Associates has handled U.S. Trading’s acquisition of an approximately 130,000-square-foot warehouse building located within close proximity to Interstate 880 at 21118 Cabot Blvd. in Hayward. Constructed in the early 1980s, the concrete tilt-up building features 20+ docks and heavy power. Lee & Associates’ Jesse Lucas and Chris Schofield represented the buyer in the transaction; ProLogis, the seller, was represented in-house.
TEMPE, ARIZ. — Marcus & Millichap has announced the $4.8 million sale of 148-unit The Crossroads, an apartment property located at 1010-1044 East Orange Street in Tempe. Marcus & Millichap’s Steve Gebing and Cliff David represented the seller, HSBC Bank, in the transaction, and the firm’s Peter Te Kampe represented the buyer, a local owner/operator.
AZUSA, CALIF. — A CVS/pharmacy situated along Arrow Highway in Azusa has sold for $3.35 million. The Royston Group’s Rob Sutton and Greg Cortese represented the seller of the property, which was constructed in 2003, in the all-cash transaction; Capital Pacific’s Zeb Ripple represented the buyer. The 22-year fee-simple ground lease on the property has 16 years remaining on the initial term.
HENDERSON, NEV. — CB Richard Ellis has brokered Bank of America’s almost $1.4 million sale of approximately 27,584 square feet of office space, located at at 2920 N. Green Valley Pkwy. (Building 5) in Henderson, to S.A.L. Holdings LLC. CBRE’s Charles Moore, Christina Roush and Marlene Fujita represented the seller in the transaction.
THORNTON, COLO. — NorthMarq Capital has arranged permanent financing of almost $10.07 million for the 168-unit North Creek Apartments, located at 700 W. 91st Ave. in Thornton. Constructed in 2002, the seven-building property includes a clubhouse, a fitness center, a heated swimming pool and a playground. NorthMarq’s Greg Benjamin and Jim DiRienzo arranged the financing for the borrower, a division of Seattle-based Weidner Investment Services.
CHANDLER, ARIZ. —Charles Dunn Co. has closed OSSA TRUST’s $3.1 million purchase of a 10,000-square-foot retail building, located at 3100 Gilbert Road in Chandler, from Glenwood Development. The property is 100 percent occupied by La Petite Academy on a long-term lease. Charles Dunn’s Paul Kenworthy represented the buyer of the NNN-leased investment property.