NAPA VALLEY, CALIF. — PKF Capital has arranged the sale of Silverado Resort and Spa in Napa Valley to a group led by golfing legend Johnny Miller. Opened a half century ago, the Silverado Resort offers more than 400 rentable condominium units, 36 holes of golf, 16 tennis courts, 41,000 square feet of meeting and event space, and a 16,000-square-foot spa. Former Sega Corp. chairman Isao Okawa bought the 300-acre Silverado in 1989. A Colliers International PKF Capital team led by Bob Eaton negotiated the sale of behalf of the family of the late Okawa.
Western
EL SEGUNDO, CALIF. — LA Realty Partners has negotiated a new, approximately $7.3 million lease for 24,166 square feet of office space in suite 200 at 1500 Rosecrans Avenue in El Segundo. LA Realty Partners represented the tenant, Pancreatic Cancer Action Network, in the 10-year deal, and the landlord, Continental Development Corp., represented itself. The El Segundo office is PCAN’s national headquarters.
OAKLAND, CALIF. — CB Richard Ellis Investors has purchased a 1.6 million-square-foot office portfolio located within Oakland City Center. Ninety-one percent leased at the time of sale, the five-building portfolio in the heart of Oakland’s central business district consists of 1111 Broadway, 555 12th Street, 1300 Clay Street, 505 14th Street and City Square. The purchase, which included City Center Garage, was made on behalf of the CBRE Strategic Partners U.S. Value 5 fund, a commingled private equity real estate fund raised from institutional investors in the United States, Europe and the Middle East.
MISSION VIEJO, CALIF. — Representing both parties, Grubb & Ellis has handled the $22 million sale of the 220,000-square-foot Kaleidoscope Retail Center located at 27741 Crown Valley Pkwy. in Mission Viejo. Westport Capital Partners LLC purchased the three-story lifestyle and entertainment center from C-III Asset Management LLC, the special servicer of the property formerly known as Centerline, in an all-cash transaction. Grubb & Ellis’ Dixie Walker represented both sides in the Kaleidoscope deal. Constructed in 2000, the property is 62 percent leased to tenants such as Regal Cinemas, Buffalo Wild Wings, Islands Restaurant, Riptide Restaurant, The Derby Restaurant and Piano Bar, and Laser Quest.
NORTH LAS VEGAS, NEV. — Marcus & Millichap has negotiated the $9.5 million sale of 157 units at Palmilla, a townhome property located at 5850 Palmilla Street in North Las Vegas. Developed in 2006-2007, the 244,000-square-foot multifamily property sits adjacent to the master-planned community of Aliante. Marcus & Millichap's Michael LaBar and Evan Griffith represented the seller, a receiver for a large financial institution, of the 90 percent-leased property. The sale represents 157 out of Palmilla’s 300 total units.
FRESNO, CALIF. — Colliers International has negotiated the $22.325 million sale of the 418-unit Torrey Ridge apartment community located at 222 South Clovis Ave. in Fresno. Constructed between 1971 and 1979, the Class B+, low-density property underwent major renovations from 2005 to 2007 at a cost of $6.6 million. Torrey Ridge’s amenities include four swimming pools, a fitness center, four tennis courts, three playgrounds and a 14-acre wooded greenbelt. Colliers’ Cindy Cooke, Brad Cooke and Ernest Rice represented the undisclosed seller in the transaction.
ALAMEDA, CALIF. — Grubb & Ellis has negotiated the $10.6 million sale of the 62,000-square-foot Bay View Plaza, a two-story office building located at 1600 Harbor Bay Parkway within the Harbor Bay Business Park in Alameda. Anchored by OtisMed, the property was approximately 93 percent leased at the time of the sale. Grubb & Ellis’ Steve Golubchik, Christopher Johnke, Cale Miller, Edward Suharski and Seth McKinnon represented the seller, Ellis Partners, in the transaction; the buyer, Worthington Investments, represented itself.
SAN DIEGO — The 31,960-square-foot Padre Plaza office building, located at 3505 Camino del Rio South in San Diego, has been sold for $3.9 million. Cushman & Wakefield’s Barry Mahlberg and Derek Applbaum represented the seller, Lewis D. Hutchins, Hampshire Investments LLC, in the transaction, and Jerome Sili represented the buyer, Atlantida LLC.
DENVER — HL Commercial Real Estate has brokered the $22.5 million acquisition of the 135,499-square-foot Quad at Lowry office building in Denver. Located on 8.15 acres, the property is mostly occupied by Kaiser Permanente. HL Commercial’s Tony Diosi represented the Marin County, California-based buyer in the transaction, and Sperry Van Ness’ Dean Corey and Troy Meyer represented the seller, SGMP/Quad at Lowry LP.
WESTMINSTER, COLO. — Marcus & Millichap has brokered the $14.5 million sale of the 118,673-square-foot Mission Commons Shopping Center located at 7615-7689 West 88th Ave. and 8895 Wadsworth Blvd. in Westminster. Anchored by a Sears’ outlet store, Bally Total Fitness and Big 5 Sports, the property comprises two inline strip buildings and a freestanding Long John Silver’s pad site. Marcus & Millichap’s Garrette Matlock and Jon Hendrickson represented the seller in the transaction.