PALM SPRINGS, CALIF. — Grubb & Ellis|BRE Commercial handled the sale of Monterey Palms Self Storage in Palm Springs. Located at 73230 Varner Road adjacent to Interstate 10, the 113,000-square-foot, 645-unit facility was sold by Granite Investment Group, which was represented by Greg Wells of Grubb & Ellis|BRE Commercial’s Self Storage Group. His colleagues Mark Avilla and Matty Sundberg represented the undisclosed buyer.
Berkeley, Calif. — Marcus & Millichap Real Estate Investment Services has handled the sale of a 1,647-square foot Precision Tune Auto Care, located in Berkeley, for $2.3 million. David Ching and Norman Ng, investment specialists in Marcus & Millichap’s Oakland, Calif., office, represented both the seller, a limited liability company, and the buyer, a private investor.
Los Angeles — Behringer Harvard has purchased The Gallery at NoHo Commons, a 438-unit multifamily community built in 2007. Located at 5416 N. Fairview Avenue adjacent to the North Hollywood Metro Station in Los Angeles, the development consists of five four-story residential buildings with amenities including a resort-style swimming pool and spa in a landscaped plaza, a state-of-the-art fitness center, a business center, a social lounge, a recording studio and two five-story parking garages. The purchase price was not disclosed.
Aurora, Colo. — Apartment Realty Advisors (ARA) recently brokered the sale of Highland Point, a 319-unit property located at 16894 E. Arkansas Avenue in Aurora. Chicago-based Redwood Capital purchased the property for an undisclosed price from an unnamed seller, which was represented by ARA’s Denver-based principals Jeff Hawks and Doug Andrews. Built in 1984, Highland Point was 95 percent pre-leased at the time of the sale.
Clackamas, Oregon — CB Richard Ellis represented HD Supply Utilities Ltd. in the 46,854-square-foot lease of a warehouse/distribution property at 10145 SE Jennifer St. in Clackamas. Terms were not disclosed. CBRE’s Don Riggins represented the lessor, and the landlord, Pacific Realty Associates, was self-represented.
LAKE FOREST, CALIF. — InterContinental Hotels Group (IHG) is opening Holiday Inn Irvine South/Irvine Spectrum, which is located at 23131 Lake Center Dr. in Lake Forest. The 148-room hotel features an outdoor pool and spa, a sundries shop with ATM, iPhone docking stations with radio alarms in each guestroom, Kem’s Restaurant and 900 square feet of meeting space. The hotel is owned and managed by SoCal Hospitality LLC under a license agreement with a company in IHG.
SOUTH PASADENA, CALIF. — Marcus & Millichap has brokered the transaction of an eight-unit apartment property in South Pasadena. Located at 1822 Camden Ave. and 2036 Huntington Dr., the property sold to an undisclosed buyer for $1.8 million or $212.41 per square foot. Priscilla Nee of Marcus & Millichap represented the undisclosed seller; Maurius Jeffrey, also of Marcus & Millichap, represented the buyer in the deal.
LOS ANGELES — International law firm McKenna Long & Alridge LLP (MLA) has signed a long-term lease to occupy 62,418 square feet of office space at One California Plaza in downtown Los Angeles. The Class A+ space is located on two and one half floors at 300 S. Grand Ave. The firm plans to relocate to the space after tenant improvements are completed later this year. The deal in valued in excess of $30 million. Whitley Collins, Darren Eades, Tom McDonald and Tony Morales of Jones Lang LaSalle represented MLA in the deal. Maguire Properties, the landlord, was represented in-house by Josh Wrobel.
MCMINNVILLE, ORE. — Robert J. Lynch and Andrea E. Lynch of Beaverton, Ore., have acquired Brockwood Village in McMinnville for $1.2 million. The 26-unit multifamily property is located at 730 S.W. Brockwood Ave. Grayson Pounder of Hendricks & Partners represented the seller, Layfayette, Ore.-based Patsy L. Roth, in the transaction.
LOS ANGELES — UCLA Capital Programs is developing a 1,525-bed housing complex for the UCLA Housing & Hospitality Services at the University of California, Los Angeles campus. Situated on 8.1 acres, the four-building, 500,000-square-foot project will offer students living space as well as a 750-seat dining room and support space. Gafcon Inc. is serving as construction manager for the project, which was designed by Pfeiffer Partners Architects Inc. Completion is expected by winter 2013.