NORTH LAS VEGAS — CORE Construction-Nevada has completed the 88,359-square-foot Ruby Duncan Elementary School, located at 250 W. Rome Street in North Las Vegas, at a cost of nearly $17.9 million. Designed by SH Architecture, the school comprises three single-story buildings — administrative, multipurpose and kindergarten — and a two-story academic building. The structures enclose a secure courtyard for outdoor learning. The Clark County School District contracted with CORE for Duncan Elementary’s construction, which began in mid-July 2009.
Western
MESA, ARIZ. — Colliers International–Greater Phoenix has negotiated the $9.7 million acquisition of the 226-unit Sorrento Apartments, located at 901 South Dobson Road in Mesa. Built in 1983, the 163,308-square-foot Class B multifamily property underwent extensive interior and exterior improvements in 2007, including renovation of more than 90 percent of the units and the clubhouse. Colliers International’s Cindy Cooke, Brad Cooke, Carrie Burton and Nicholas Eggert represented the San Francisco-based buyer, Hamilton Zanze & Co., in the off-market transaction; the Newport Beach, Calif.-based seller, San Ai Dobson LLC, was self-represented. Having recently acquired seven Class B multifamily properties in Tucson, Ariz., Hamilton Zanze retained Fairfield Residential as the property management firm for the 93 percent-occupied Sorrento Apartments.
SAN FRANCISCO — Cassidy Turley BT Commercial’s Scott Mason has represented Tony Leong in his $5.85 million acquisition of a 30,000-square-foot warehouse facility in San Francisco from YRC Inc. The new owner/user operates an electrical company and will be utilizing a portion of the property, which is primarily a cross-dock facility that also consists of nearly 70,000 square feet of yard space.
SALEM, ORE. — Marcus & Millichap has presided over the sale of two industrial buildings totaling 156,000 square feet, located at 4050 and 4060 Fairview Industrial Drive in Salem. Terms of the deal were not disclosed. Marcus & Millichap’s Michael Kapnick and Will Stone represented the buyer and the seller, both limited liability companies, in the transaction.
SAN DIEGO — Cassidy Turley BRE Commercial has brokered the $7.2 million sale of a six-story, 64,581-square-foot downtown office building located at 925 B Street in San Diego. An office condominium developer purchased the former Chicago Title building in 2007 for $13.6 million, and it was sold again in October 2009 at a public auction to the highest bidder for $12 million. Cassidy Turley BRE Commercial’s Tim Winslow, Jason Kimmel and Kelly Strickland represented the seller, Far East National Bank, in the transaction; Jeannine Savory of Prudential California Realty represented the foreclosing-beneficiary buyer, Virginia Herrera Gonzalez.
IRVINE, CALIF. — Voit Real Estate Services has negotiated a $7.7 million lease for a 93,433-square-foot industrial property located at 17622 Von Karman Ave. in Irvine. Voit’s John Griffin represented the landlord, MDD Partners II LP, in the transaction, and Jones Lang LaSalle’s Wade Clark represented the tenant, Latisys-Irvine LLC.
PITTSBURG, CALIF. — Marcus & Millichap has announced the $2.37 million sale of the 15,596-square-foot Leland Regency Plaza, a medical/dental office property located at 300 East Leland Ave. in Pittsburg. Marcus & Millichap's Russ Moroz represented both the buyer and the seller in the transaction.
NAMPA, IDAHO — Developers Diversified Realty Corp. has opened the 52,000-square-foot Edwards Nampa Gateway Stadium 12 Theatre at the 921,200-square-foot Nampa Gateway Center in the Boise metro area. DDR Builders, a subsidiary of Developers Diversified, served as general contractor and oversaw the construction of the $12 million theater, Regal Entertainment Group’s latest location. In addition to the theater, approximately 30,000 square feet of complementary retail will be opening at the shopping center.
LOS ANGELES — Studley has negotiated Gordon & Rees LLP’s new 10-year lease for 40,355 square feet of space at the 73-story US Bank Tower, located at 633 West 5th Street in downtown Los Angeles. The law firm, which was subleasing floors 49 and 52 from Pacific Enterprises, will now occupy two contiguous floors — 52 and 53. Studley’s Mark Sullivan and Andrew Lustgarten represented the law-firm tenant, which has been in the building since 2006, in the transaction; the landlord, Maguire Partners, was represented in-house by Josh Wrobel. According to Studely, Gordon & Rees received a significant tenant-improvement allowance, allowing the firm to upgrade and reconfigure its space on the two contiguous floors at no out-of-pocket cost.
RIVERSIDE, CALIF. — Lee & Associates has closed the $4.2 million sale of a 111,316-square-foot industrial building located at 1850 Atlanta Ave. in Riverside. The freestanding industrial facility is situated on 10 acres of fenced-in property. Lee & Associates’ Bruce Springer and Vince Anthony represented the seller, Fleetwood Enterprises, in the transaction, and the brokerage firm’s Jeff White, along with Brad Yates of Grubb & Ellis, represented the buyer, Crystal Windows.