Western

PLASTIPAK PACKAGING LEASES 231,185 SQUARE FEET OF INDUSTRIAL SPACE

by admin September 18, 2009

VICTORVILLE, CALIF. — Plymouth, Mich.-based Plastipak Packaging Inc., a manufacturer of plastic packaging containers, has leased 231,185 square feet of industrial space at Southern California Logistics Centre (SCLC), a 2,500-acre commercial and industrial complex in Victorville. The company plans to use the space at 13415 Sabre to manufacture and distribute plastic bottles. The cross-docked facility features 32-foot clear ceiling heights, ESFR sprinklers, 112 dock-high loading doors, 147 truck trailer parking spaces and 164 automobile parking spaces with 185-foot wall concrete truck yards. SCLC is owned and master developed by Stirling Capital Investments.

September 18, 2009

RETAIL BUILDING SELLS FOR $1.5 MILLION

by admin September 18, 2009

ORANGE, CALIF. — Tustin Court has been purchased for $1.5 million, which represents a 6.49 percent cap rate and 97 percent of the asking price. Located at 1171 N. Tustin St. in Orange, the property offers inline retail space. Paul Bitonti and Brenton Baskin of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was not disclosed.

September 18, 2009

Office Western

4,810-SQUARE-FOOT OFFICE/RETAIL BUILDING TRADES HANDS

by admin September 18, 2009

4,810-SQUARE-FOOT OFFICE/RETAIL BUILDING TRADES HANDS HUNTINGTON BEACH, CALIF. — Michael Lawrence of Marcus & Millichap’s Newport Beach, Calif., office represented a private investor in the disposition of a 4,810-square-foot office/retail property in Huntington Beach. Built in 1913, the property, which offers views of Huntington Beach Pier and the Pacific Ocean, is located at 117 Main St. The asset sold for $2.8 million.

September 18, 2009

Multifamily Western

WATERFORD PLACE APARTMENT HOMES FETCHES $79.7 MILLION

by admin September 17, 2009

DUBLIN, CALIF. — Behringer Harvard Multifamily REIT I has acquired Waterford Place Apartment Homes, a 390-unit luxury apartment community located at 4800 Tassajara Rd. in Dublin, for $79.7 million or $204,358 per unit. Built in 2003, the 350,968-square-foot property features a mix of one- and two-bedroom units, landscaped courtyards, a heated resort-style swimming pool, a recreation room, a state-of-the-art fitness center, a theater, a business center and conference room, controlled access and a four-level parking garage. The seller was Shea Properties’ Waterford Place Apartments. Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of Marcus & Millichap represented both parties in the transaction.

September 17, 2009

Seniors Housing Western

$3.4 MILLION RENOVATION PROJECT UNDERWAY

by admin September 17, 2009

SAN DIEGO — Senior Community Centers, in partnership with HomeAid San Diego, are converting a 60-year-old building at 1525 Fourth Ave. in downtown San Diego into Gary and Mary West Senior Wellness Center. The two-story, 17,000-square-foot facility will feature a main lobby, a living room area, an activity room, an enrichment center, a Cyber Café, a kitchen and dining room area and the Center for Healthy Aging. Smith Consulting Architects designed the project, which is being constructed by Ledcor Construction. Completion for the LEED-Gold project is slated for early 2010.

September 17, 2009

Civic Western

MCCARTHY AWARDED PARKING STRUCTURE DESIGN-BUILD CONTRACT

by admin September 17, 2009

WILMINGTON, CALIF. — McCarthy Building Cos. has been awarded the design-build contract for a $19.9 million parking facility that will be located on the Los Angeles Harbor College campus in Wilmington. The 1,000-stall parking structure is scheduled for completion in spring 2011. The structure features metal canopies, brick veneers and painted concrete that integrates with the architecture of other campus buildings. Additionally, the project features green elements including a vegetated bioswale to treat run-off water, fly ash in the poured-in-place concrete and drought-tolerant landscaping.

September 17, 2009

Retail Western

RETAIL STRIP CENTER TRADES HANDS FOR $1.97 MILLION

by admin September 17, 2009

BELLFLOWER, CALIF. — Kevin Fryman and Eric Wohl of Hanley Investment Group Real Estate Advisors represented the undisclosed seller in the disposition of Alondra Plaza, a 9,171-square-foot retail strip center in Bellflower. Located at 9345-9361 Alondra Blvd., the property sold for $1.97 million, which represents a 7.37 percent cap rate. The property, which was built in 1979, was 100 percent occupied at the time of acquisition. Current tenants include Advance America and Domino’s Pizza.

September 17, 2009

Multifamily Western

22-UNIT MULTIFAMILY PROPERTY SELLS FOR $1.58 MILLION

by admin September 17, 2009

FEDERAL WAY, WASH. — Brandon Grishman of Marcus & Millichap represented a private investor in the acquisition of Seatac Village, a 22-unit apartment property located at 1808 S. 311th Pl. in Federal Way. The property sold for $1.58 million. The community offers one- and two-bedroom units featuring wood-burning fireplaces, garbage disposals and storage space. Grishman also represented the undisclosed seller.

September 17, 2009

Industrial Western

93,228-SQUARE-FOOT INDUSTRIAL PROPERTY TRADES HANDS

by admin September 16, 2009

SANTA CLARITA, CALIF. — Side Yard LLC has purchased a 93,228-square-foot industrial warehouse/showroom building, which is located at 26455 Ruether Ave. in Santa Clarita, for $9.87 million. The property received a renovation in 2005 and was converted into a retail furniture showroom/warehouse from an industrial manufacturing facility. The buyer plans to lease the property back to an undisclosed company. Chris Jackson and Todd Lorber of NAI Capital’s Santa Clarita office represented the buyer; Gary Cohen of Cohen Commercial Real Estate Group Inc. represented the seller, a private family trust, in the transaction.

September 16, 2009

Industrial Western

TWO INDUSTRIAL CONDOS SELL FOR $2.3 MILLION

by admin September 16, 2009

SAN DIEGO — Francisco Gutierrez Mercado has acquired two industrial condominiums totaling 23,482 square feet at Britannia Crossings, a 150,000-square-foot industrial park in the Otay Mesa submarket of San Diego. The condos are located at 7577 Airway Rd., Suites G and H. Britannia Crossings LLC sold the property for $2.3 million. Rollin Sutton and Eduardo Colon Marin of Rollin A. Sutton Real Estate represented the buyer; Charles Adolphe and Bryan Teel of Cushman & Wakefield represented the seller. The buyer plans to use building for distribution center.

September 16, 2009

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