ROCKLIN, CALIF. — Cassidy Turley BT Commercial has brokered the $2.025 million sale of the 67-room Rocklin Park Hotel, located at 5450 China Garden Road in Rocklin. Onsite amenities include the Chops Grill & Oven and the luxurious Spa LaLé. Cassidy Turley BT Commercial’s Scott Griemsmann and Eric Gunderson represented the seller, LNR Partners LLC, in the transaction; the buyer was OMKAR Rocklin Inc.
Western
COLORADO SPRINGS, COLO. — Ford Motor Credit Co. has renewed its lease for 86,900 square feet of office space, located at 9930 Federal Drive in Colorado Springs, with landlord Wells Real Estate Funds. Grubb & Ellis | Quantum Commercial Group’s Michael Palmer was the listing agent in the transaction, and CB Richard Ellis’ Marty Johnson was the cooperating broker.
LOS ANGELES — Marcus & Millichap has brokered the $15 million sale of Sherman Village, a 150,000-square-foot development site located at 12629-12729 Riverside Drive in the Valley Village area of Los Angeles. The 3.45-acre site near the Sherman Oaks Fashion Square and the Sherman Oaks Galleria is entitled for the development of 264 multifamily units on eight parcels. Marcus & Millichap’s Greg Harris represented both the Los Angeles-based buyer, IMT Capital, and the Southern California-based private-investor seller.
LYNNWOOD, WASH. — Alderbrooke Associates LLC has completed the $9.4 million sale of the 115-unit Alderbrooke Apartments, a garden-style multifamily complex located at 18505 36th Ave. West in Lynnwood, to Alderbrooke Investments LLC, a Seattle-area investor. GVA Kidder Mathews’ Jim Nichols represented both the buyer and the seller in the transaction.
NORWALK, CALIF. — Marcus & Millichap has closed the $5.075 million sale of Plantation Apartments, a 46-unit multifamily property located at 12809 Kalnor Ave. in Norwalk. The real estate investment services firm’s John Susank represented the private-investor seller and also secured the buyer, a partnership.
LAGUNA HILLS, CALIF. — NorthMarq Capital has arranged first-mortgage financing of $9.2 million for the 89,936-square-foot Courtyard At La Paz, located at 25232-25342 McIntyre Street in Laguna Hills. Financing for the retail property was based on a 5-year term with a 30-year amortization schedule and was arranged for the borrower, an Orange County-based private investment group, through a CMBS lender. Ory Schwartz of Minneapolis-based NorthMarq arranged the first-mortgage financing deal.
MESA, ARIZ. — Turner Opportunity Fund has acquired a 40,869-square-foot industrial property consisting of 14 condominiums, located within the Superstition Springs submarket in Mesa, from First Community Bank of New Mexico. CB Richard Ellis’ Greg White and Greg Koestner represented both the buyer and the seller in the transaction. Newport Beach, Calif.-based Turner plans to sell individual units and also lease some with an option to buy.
HONOLULU — Hawaii Commercial Real Estate LLC has brokered the $2.25 million sale of the 14th floor of 1100 Alakea Corporate Tower in downtown Honolulu. HCRE’s Victor Arcayena and Kathy Rehg handled the transaction involving the 6,391 square feet of Class A office space, the third floor that their firm has sold in the marquee building.
ARCADIA, CALIF. — REZA Investment Group has completed the $70 million sale of the approximately 351,871-square-foot Arcadia Hub Shopping Center, an urban in-fill, grocery-anchored retail property located in Arcadia. Situated at the intersection of W. Duarte Rd. and S. Baldwin Ave., the two-level community shopping center is anchored by Pavilions, Burlington Coat Factory, Jo-Ann Fabrics & Crafts and LA Fitness.
DRAPER, UTAH — San Francisco-based Maier Siebel Baber (MSB) has purchased the 88,000-square-foot Lone Peak Center, located at 11747 Lone Peak Pkwy. in Draper, from M & I Regional Properties LLC. Terms of the deal were not disclosed. MSB plans to reposition the property, which is situated on the border of Draper and South Jordan in the midst of a rapidly growing concentration of tech firms and banking-support centers. Transwestern has been selected to manage the property. The first two leases — a full floor to O'Currance Teleservices and a 9,000-square-foot commitment by Xennsoft — are complete, with both tenants scheduled to take occupancy in early 2011.