ONTARIO, CALIF. – CT Realty Investors and Dallas-based Behringer Harvard Opportunity REIT II have purchased the 231,444-square-foot Archibald Business Center, located at 2021 So. Archibald Ave. in Ontario, from Bixby Land Co. for $9.5 million. Fully occupied by SKECHERS USA Inc., the Class A facility features 206,484 square feet of distribution/warehouse space and 24,960 square feet of corporate office space. CT Realty represented itself and Behringer Harvard in the transaction; Rick John of Collins Commercial represented the seller.
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LOS ANGELES — Marcus & Millichap has negotiated the $3.5 million sale of a 36-unit apartment property located in the Van Nuys area of Los Angeles. The brokerage firm’s Reza Ghobadi and Frank Pour represented both the financial-institution seller and the limited-liability-company buyer in the transaction.
BUENA PARK, CALIF. — The Buena Park City Council has unanimously approved Jamboree Housing Corp.’s 70-unit affordable-housing project to be developed on a 2-acre urban infill site at 8850 La Palma Ave. Designed by Newport Beach, Calif.-based Newman Garrison + Partners, the four-story apartment community will utilize a sustainable green roof over the interior 142-space parking area, creating more than 20,000 square feet of open space for residents. Irvine, Calif.-headquartered Jamboree will also include amenities such as a residents meeting room, a tutoring center, a fitness center and a kitchen at the multifamily development. Created for residents earning between 30 to 60 percent of the county’s area median income, the apartment property will consist of one-, two- and three-bedroom units. Construction is expected to start next year with completion slated for 2012.
GARDENA, CALIF. — Marcus & Millichap has negotiated the $3.475 million acquisition of a 46-unit apartment property located at 18424 South Normandie Ave. in Gardena. Marcus & Millichap’s Gordon Reese represented the buyer, a limited liability company, in the transaction.
LONG BEACH, CALIF. — Developed by Lyon Communities and designed by KTGY Group, Architecture and Planning, the 291-unit luxury apartment community gallery421 had its grand opening on West Broadway, just north of Ocean Boulevard, in the heart of downtown Long Beach. The five-story, mid-rise multifamily development offers a business and conference center, an on-site art gallery, a coffee bar, a state-of-the-art fitness center, a yoga and Pilates studio, a private movie theatre, a game room, a billiards room, a card room and even a special dog-grooming room. There is also 16,000 square feet of on-site, street-level retail.
BEVERLY HILLS, CALIF. — Hudson Pacific Properties has acquired the leasehold interest in a 58,484-square-foot office building, located at 9300 Wilshire in Beverly Hills, in a $15 million, all-cash transaction. Situated at the intersection of Wilshire Boulevard and Rexford Drive, the six-story building is approximately 93 percent leased to a mix of professional service businesses, media and entertainment companies, and financial firms. Madison Partners’ Bob Safai represented the seller, 9300 Wilshire Building LLC, in the transaction.
VISTA, CALIF. — Cassidy Turley BRE Commercial has closed the $2.35 million sale of the Primrose Park Apartments located at 2224 and 2232 Primrose Ave. in Vista. Cassidy Turley‘s Ray Adams represented the seller, Primrose Park Apartments LLC, in the transaction; Epifany Properties, the buyer of the property featuring 22 two-bedroom apartment units, represented itself.
KENT, WASH. — McQuaid Commercial has brokered the $2.1 million sale of a warehouse located at 22613 76th Ave. S in Kent. The building comprises a shell of 44,000 square feet situated on a 77,000-square-foot parcel. Michael McQuaid represented the seller, an out-of-state bank that foreclosed on the property late last year, in its disposition of the property to a local food distribution company.
SUNNYVALE, CALIF. — HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of the 103,254-square-foot Kifer Tech Center, a two-building, Class A office/R&D campus located at the intersection of Lawrence Expressway and Kifer Road in Sunnyvale. TA Associates purchased the fully leased property for an undisclosed amount. Kifer Tech Center’s tenant roster includes Motorola and Siemens Corp. HFF’s Michael Leggett, Gerry Rohm and Chris Pawlik represented the undisclosed seller in the transaction.
SAN LEANDRO, CALIF. — Colliers International has negotiated an almost 144,000-square-foot industrial lease at an approximately 326,000-square-foot warehouse/distribution facility located at 1345 Doolittle Avenue, Suite A, in San Leandro. A company that warehouses and distributes coffee and other products, The Annex is relocating from its Hayward, Calif., facility to the site adjacent to Oakland International Airport to be closer to the Port of Oakland. The building includes 4,800 square feet of office space and more than 20 dock-high loading doors. Colliers International’s Greig Lagomarsino and Casey Ricksen represented the landlord, AMB Property Corp., in the transaction, and Paul Mueller of Cornish & Carey represented the tenant.