ANAHEIM, CALIF. — Marcus & Millichap has brokered the $3.5 million sale of the 21-unit Magnolia Court Apartments located at 527-537 North Magnolia Ave. in Anaheim. The brokerage firm’s Greg Bassirpou represented a limited-liability company in its sale of the multifamily property to a Washington-based 1031-exchange investor.
Western
VICTORVILLE, CALIF. — Stirling Capital Investments has secured an 8-year, $2 million lease signing from Plastipak Packaging Inc. for 65,000 square feet located at 13415 Sabre within the 2,500-acre Southern California Logistics Centre (SCLC) in Victorville. CB Richard Ellis’ Jay Dick and Mark Latimer represented Stirling Capital in its lease transaction with the Plymouth, Mich.-based manufacturer of plastic packaging containers. The Plastipak building, the newly constructed, Class A Distribution Centre 13A, is part of Phase I development of the SCLC totaling more than 6.5 million square feet of facilities.
OAKLAND, CALIF. — Grubb & Ellis has brokered Tiburon Capital’s $12 million sale of Edgewater Park Plaza, located at 7700 Edgewater Drive in Oakland, to Polidev International LLC. Completed in 1976, the four-building, approximately 205,000-square-foot office park was about 40 percent leased at the time of sale. Grubb & Ellis’ Steven Golubchik, Seth McKinnon and Edward Suharski represented both parties in the transaction, with assistance on the buyer’s side from the brokerage firm’s Christopher Johnke and Cale Miller.
HENDERSON, NEV. — Colliers International–Las Vegas has negotiated a 240-month, more than $4.4 million NNN lease for a 6,650-square-foot retail property located at 651 Mall Ring Circle in Henderson. R.O.I. Commercial Real Estate’s Brian Sorrentino represented the lessee, Sonoran BBQ LLC, in the transaction, and Colliers’ Scot Marker represented the lessor, Mall Ring Magic.
LAS VEGAS — Marcus & Millichap has handled the $2.5 million sale of the 17,769-square-foot Durango Springs Center, a retail property located at 3585 South Durango Drive in Las Vegas. Built in 1998, the property is situated adjacent to a McDonalds and a Taco Bell. Marcus & Millichap’s John Vorsheck, Ned Zivkovic and Tina Taylor represented both the buyer and seller — a private investor and a limited liability company, respectively — in the transaction.
OCEANSIDE, CALIF. — CB Richard Ellis has handled Grace International Churches & Ministries’ $6.5 million purchase of a 22,981-square-foot church facility, located at 1602 South El Camino Real in Oceanside, from Evangelical Christian Credit Union. Built on a 15-acre site in 2005, the property includes a bookstore, a kitchen, a fellowship hall, administrative offices, classrooms and sanctuary seating for 1,000. Eric Knowles of CBRE’s Religious Facilities Group represented both the buyer and the seller in the transaction.
BUCKEYE, ARIZ. — Marcus & Millichap has brokered the more than $4.44 million sale of a 14,820-square-foot Walgreens located at 25073 W. Southern Ave. in Buckeye. The brokerage firm’s Jamie Medress and Mark Ruble represented the seller, a limited liability company, in the transaction.
ANAHEIM, CALIF. — Total Environmental Management has purchased a 24,447-square-foot industrial building, located at 1415 N. Burton Place in Anaheim, from Lloyd Wells for $3.9 million. Grubb & Ellis’ Steve Sprenger and Scott Sanders represented the seller in the transaction, and Brett Blazicek of C & I Real Estate Consulting represented the buyer.
RIDGECREST, CALIF. — Barnhart Balfour Beatty has started construction on the $68 million P-745 Weapons Armament Technology Center at Naval Air Weapons Station China Lake in Ridgecrest. The facility is slated for completion in late July/early August. In partnership with BBB, KMA Architecture & Engineering (KMA) designed the two-story, 177,718-square-foot, state-of-the-art naval research and development facility to include technical and management support offices, general engineering laboratories, secure compartmentalized information facility spaces and conference facilities. Also, the development is designed to meet LEED Silver certification standards.
CHULA VISTA, CALIF. — Cushman & Wakefield has negotiated Jefferson Pilot Investments’ $19.8 million sale of 103,548-square-foot The Shops at San Miguel Ranch located at 2310 – 2350 Proctor Valley Rd. in Chula Vista. Developed in 2007 by McMillin Commercial, the grocery-anchored shopping center is 76.8 percent leased, including tenants Albertsons and Starbucks Coffee. Cushman & Wakefield’s Pete Bethea, Rob Ippolito, Jesse Lowe and David Bradley negotiated the lender sale for JPI; the buyer, MGP IX REIT LLC, represented itself.