OAKLAND, CALIF. — Cassidy Turley BT Commercial Oakland has brokered Amerco Real Estate Co.’s $10 million purchase of a 511,583-square-foot industrial property, located at 851 81st Ave. in Oakland, from Fowler Property Acquisitions. Occupying a 16,000-square-foot portion of what is known as the Sunshine Biscuits Business Complex, Amerco will manage and operate the mini-storage and live-work components of the multi-tenant facility, as well as add a truck rental to the site. Cassidy Turley’s Brian Collins represented the buyer in the transaction.
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HAYWARD, CALIF. — Colliers International has presided over the purchase of an approximately 33,000-square-foot warehouse located within Hayward Bridge Business Park at 25803 Clawiter Road in Hayward. Colliers’ Kevin Hatcher, Greig Lagomarsino and Mark Maguire represented both the buyer, New Asia Food Inc., and the seller, SPI Holdings, in the transaction, the terms of which were not disclosed. Built in 1973, the concrete, tilt-up building is located adjacent to the buyer’s existing facility and will serve as the trading company’s headquarters/distribution center.
ISLAND OF OAHU, HAWAII — As previously covered by RE Business Online, TNP Strategic Retail Trust Inc. has purchased the 170,275-square-foot Waianae Mall, a multi-tenant retail center located 32 miles northwest of Honolulu, for approximately $25.7 million. Ninety-two percent occupied at the time of sale, the 11-building mall property is anchored by a Longs Drugs store and features national retailers such as Starbucks Coffee, Pizza Hut, Subway, RadioShack, Payless ShoeSource, Jamba Juice, Goodyear and Fantastic Sams.
PALMDALE, CALIF. — Marcus & Millichap has brokered the more than $5.5 million sale of a 13,650-square-foot Walgreens located at 5001 West Ave. N in Palmdale. Constructed in 2009, the single-tenant, net-leased property is situated near Trail Crossings Shopping Center. Marcus & Millichap’s Mark Thiel represented both the seller, a developer, and the buyer, a fund manager, in the transaction.
ANAHEIM, CALIF. — DAUM Commercial Real Estate Services has handled the more than $1.94 million sale of a 16,900-square-foot industrial building located at 3431 E. La Palma Ave. in Anaheim. DAUM’s Chris Migliori represented both the buyer, Tanlie LLC, and sellers, The Donald V. Wright Trust and Brian D. Randolph Trust, in the transaction.
LAS VEGAS — George Gekakis Inc. (GGI) and its non-profit sponsor Silver State Housing have opened McKnight Senior Village II, a 77-unit affordable, senior-housing apartment community near downtown Las Vegas. The new 4-story building with 7,742-square-foot clubhouse is open to seniors 55 and older with incomes at 30 to 50 percent of the area median. GGI’s senior-housing project was financed with nearly $14.4 million in tax credits awarded by the Nevada Housing Division, as well as HOME Funds from the City of Las Vegas and Clark County, Nev.
LOS ANGELES — Grubb & Ellis has brokered the $46 million sale of the four-diamond Hilton Checkers Hotel located at 535 S. Grand Ave. in downtown Los Angeles. Operating under Kalpana LLC and 535 Grand Avenue LLC, Tarsadia Hotels sold the property to Annapolis, Maryland-based REIT Chesapeake Lodging Trust. Built in the 1920s and renovated in 2008, the 188-room boutique hotel includes an award-winning restaurant, a spa and lounge, and six indoor and outdoor meeting areas. Grubb & Ellis’ Jordan Richman and Felix Cacciato of Hotel Equity Advisors represented both parties in the sale of the 12-story property, which is located in the heart of L.A.’s financial district.
CARLSBAD, CALIF. — Opus Pointe IV, a four-building, nearly 160,000-square-foot flex-industrial/R&D development located along Lionshead Avenue within Carlsbad Raceway Business Park in Carlsbad, has been completed. The last of four phases at the 489,000-square-foot Opus Pointe development, the property can accommodate office, light-industrial and/or manufacturing operations. Smith Consulting Architects was the designer of the tilt-up, concrete buildings, and Opus West Construction Corp. was the general contractor.
LAS VEGAS — Marcus & Millichap has handled the $2.7 million sale of an office property located within Las Vegas Technology Center in the northwest submarket of Las Vegas. Marcus & Millichap’s Tina Taylor, Ned Zivkovic, Anthony Le, Reza Ghaffari and Albert Le represented the seller, a financial institution, in the REO sale, all-cash transaction.
TUCSON, ARIZ. — CB Richard Ellis (CBRE) has negotiated the $17.15 million fractured-condominium sale of 238 units at Sonterra at Williams Center, a Class A, gated community located at 5400 E. Williams Blvd. in Tucson’s business district. Built in 1995 as a rental community, the multifamily property was converted to for-sale condos in 2005. Sonterra at Williams Center includes a resort-style swimming pool with a water feature and spa; state-of-the-art fitness and business centers; and a clubhouse. CBRE’s Tyler Anderson, Sean Cunningham and Mike Sandahl represented the seller, Sonterra Property LLC, an Arizona company formed by a New York City-based fund, in the transaction; the Tucson-based buyer, Holualoa Cos., plans to maintain the 238 condos as rental units.