SCOTTSDALE, ARIZ. — On behalf of Universal Technical Institute, Jones Lang LaSalle has negotiated an 85,000-square-foot office lease at Trammell Crow Co./ING Clarion’s 285,000-square-foot MAX at KIERLAND, located south of the Loop 101 on Scottsdale Road in Scottsdale. The major provider of post-secondary degrees for auto-related technicians will move approximately 425 employees into two floors at the six-story MAX at KIERLAND, which received LEED certification earlier this year. Jones Lang LaSalle’s Jim Sadler and Keith Lambeth represented the tenant in the lease transaction, and CB Richard Ellis’ Patrick Devine, Jerry Noble and Greg Mayer, along with Jim Mahoney of Trammell Crow and Alexander Mitzner of ING, represented the building ownership.
Western
WEST VALLEY CITY, UTAH — TRI Commercial/CORFAC International has brokered the sale of an IHOP restaurant located at 3383 Decker Lake Drive in West Valley City. Listed for more than $2.32 million, the property encompasses approximately 4,114 square feet and 63 parking spaces. TRI Commercial/CORFAC International’s Robert King represented the seller, WB Equities, in the transaction, and Commerce Real Estate Solutions’s Mary Street represented the buyer. The tenant has more than 17 years remaining on the primary lease term.
SUNNYVALE, CALIF. — Cassidy Turley CPS has brokered the more than $10.83 million sale of a 40,200-square-foot R&D building located at 1255 East Arques Ave. in Sunnyvale. The brokerage firm’s Alan Guterman, Steve Horton and Kelly Yoder represented the seller, Princeton Plaza, of the single-story, freestanding building situated close to Highway 101, Lawrence and Central expressways. The buyer was the tenant Fujitsu Management Services of America, the sale reflecting a buyout of Fujitsu’s existing lease.
ONTARIO, CALIF. — BlackRidge Real Estate Group LLC has acquired a 302,020-square-foot distribution center, located at 1000 Etiwanda Ave. in Ontario, from BIT Holdings Forty-Three for $14.4 million. Constructed in 1989 and 100 percent leased to DCG Fulfillment, the steel-frame, concrete tilt-up distribution building includes 6,900 square feet of office space. CB Richard Ellis’ Frank Geraci, Jerry Nourse and Walt Chenoweth represented the seller in the transaction.
CULVER CITY, CALIF. — Jones Lang LaSalle has brokered Palisades Equity Partners’ $8.35 million acquisition of a 51,288-square-foot, multi-tenant office building located at 6133 Bristol Parkway in Culver City. Situated west of Los Angeles, the three-story building was 90 percent leased at the time of sale. Jones Lang LaSalle’s Chris Strickfaden and Steve Solomon negotiated the transaction on behalf of the buyer and seller, Professional Real Estate Services.
ANAHEIM, CALIF. — Lee & Associates has negotiated the $7.4 million purchase of a 57,593-square-foot warehouse facility located at 3400 E. Miraloma Ave. in Anaheim. The brokerage firm’s Dennis Keane and Adam Dzierzynski represented the buyer, HSJQ USA, in the transaction, and CB Richard Ellis’ Brad Bierbaum and Ian Britton represented the seller, the Sares-Regis Group, which developed the LEED-certified Canyon Point project with the strategic plan to sell to a user.
BEVERLY HILLS, CALIF. — The high-profile, eight-acre property at 9900 Wilshire Blvd., situated at the thoroughfare’s prominent intersection with Santa Monica Boulevard in Beverly Hills, has been acquired by investors from Hong Kong and Singapore for $148.3 million. Architect Richard Meier’s plan for the property, which was approved by the City of Beverly Hills in 2008, calls for 235 condominiums and 17,000 square feet of retail and restaurant space set amidst extensive gardens. After being acquired for $500 million in 2007, the property fell into foreclosure early this year and was acquired by Carlos Slim ’s Banco Inbursa, one of the lenders. Joint Treasure won a private bidding auction administered by Eastdil Secured and the law firm Skadden Arps. The law firm Allen Matkins Leck Gamble Mallory & Natsis advised Joint Treasure in the transaction. In the $148.3 million transaction, Joint Treasure was acting on behalf of three of its consortium partners: Chow Tai Fook Group of Hong Kong, the holding company for publicly held New World Group; Wee Cho Yaw Family Group of Singapore that invests in banks, commercial properties and hotels; and David Chiu of Far East Consortium International Limited, a commercial property and hotel developer. The investor …
IRWINDALE, CALIF. — Seventh Street Development has broken ground on a new $40 million corporate headquarters/manufacturing/warehouse facility for Huy Fong Foods. The maker of Sriracha Hot Chili Sauce will consolidate its operations into the new 655,000-square-foot development, located within L.A. County at Azusa Canyon Road and Cypress Street in Irwindale, when it is completed in fall 2011. The California Mission-style building will consist of 26,000 square feet of office space, 150,000 square feet of manufacturing space and 480,000 square feet of warehouse space. Long Beach, Calif.-based Seventh Street, the development manager, is joined by general contractor KPRS Construction Services and RKZ Architects on the build-to-suit project.
SEQUIM, WASH. — Marcus & Millichap has negotiated the nearly $5.6 million sale of a 14,752-square-foot Walgreens, located at 490 West Washington Street in Sequim. Marcus & Millichap’s Peter Nisbet represented the seller, a private investor, of the single-tenant, net-leased property.
TUCSON, ARIZ. — Dover Engineering Systems, dba Sargent Controls & Aerospace, has purchased an 18,800-square-foot industrial facility, located at 5600 West Coca Cola Place in Tucson, from DS Waters of America for $1.84 million. PICOR Commercial Real Estate Services’ Steve Cohen represented the buyer in the transaction, and CB Richard Ellis’ Bruce Suppes represented the seller.