MISSION VIEJO, CALIF. — Representing both parties, Grubb & Ellis has handled the $22 million sale of the 220,000-square-foot Kaleidoscope Retail Center located at 27741 Crown Valley Pkwy. in Mission Viejo. Westport Capital Partners LLC purchased the three-story lifestyle and entertainment center from C-III Asset Management LLC, the special servicer of the property formerly known as Centerline, in an all-cash transaction. Grubb & Ellis’ Dixie Walker represented both sides in the Kaleidoscope deal. Constructed in 2000, the property is 62 percent leased to tenants such as Regal Cinemas, Buffalo Wild Wings, Islands Restaurant, Riptide Restaurant, The Derby Restaurant and Piano Bar, and Laser Quest.
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NORTH LAS VEGAS, NEV. — Marcus & Millichap has negotiated the $9.5 million sale of 157 units at Palmilla, a townhome property located at 5850 Palmilla Street in North Las Vegas. Developed in 2006-2007, the 244,000-square-foot multifamily property sits adjacent to the master-planned community of Aliante. Marcus & Millichap's Michael LaBar and Evan Griffith represented the seller, a receiver for a large financial institution, of the 90 percent-leased property. The sale represents 157 out of Palmilla’s 300 total units.
FRESNO, CALIF. — Colliers International has negotiated the $22.325 million sale of the 418-unit Torrey Ridge apartment community located at 222 South Clovis Ave. in Fresno. Constructed between 1971 and 1979, the Class B+, low-density property underwent major renovations from 2005 to 2007 at a cost of $6.6 million. Torrey Ridge’s amenities include four swimming pools, a fitness center, four tennis courts, three playgrounds and a 14-acre wooded greenbelt. Colliers’ Cindy Cooke, Brad Cooke and Ernest Rice represented the undisclosed seller in the transaction.
ALAMEDA, CALIF. — Grubb & Ellis has negotiated the $10.6 million sale of the 62,000-square-foot Bay View Plaza, a two-story office building located at 1600 Harbor Bay Parkway within the Harbor Bay Business Park in Alameda. Anchored by OtisMed, the property was approximately 93 percent leased at the time of the sale. Grubb & Ellis’ Steve Golubchik, Christopher Johnke, Cale Miller, Edward Suharski and Seth McKinnon represented the seller, Ellis Partners, in the transaction; the buyer, Worthington Investments, represented itself.
SAN DIEGO — The 31,960-square-foot Padre Plaza office building, located at 3505 Camino del Rio South in San Diego, has been sold for $3.9 million. Cushman & Wakefield’s Barry Mahlberg and Derek Applbaum represented the seller, Lewis D. Hutchins, Hampshire Investments LLC, in the transaction, and Jerome Sili represented the buyer, Atlantida LLC.
DENVER — HL Commercial Real Estate has brokered the $22.5 million acquisition of the 135,499-square-foot Quad at Lowry office building in Denver. Located on 8.15 acres, the property is mostly occupied by Kaiser Permanente. HL Commercial’s Tony Diosi represented the Marin County, California-based buyer in the transaction, and Sperry Van Ness’ Dean Corey and Troy Meyer represented the seller, SGMP/Quad at Lowry LP.
WESTMINSTER, COLO. — Marcus & Millichap has brokered the $14.5 million sale of the 118,673-square-foot Mission Commons Shopping Center located at 7615-7689 West 88th Ave. and 8895 Wadsworth Blvd. in Westminster. Anchored by a Sears’ outlet store, Bally Total Fitness and Big 5 Sports, the property comprises two inline strip buildings and a freestanding Long John Silver’s pad site. Marcus & Millichap’s Garrette Matlock and Jon Hendrickson represented the seller in the transaction.
FONTANA, CALIF. — Grubb & Ellis has brokered the $5.1 million purchase of a 90,250-square-foot manufacturing building located at 13470 Philadelphia Ave. in Fontana. Built in 1998, the freestanding building is situated on approximately 6.2 acres of land within close proximity of State Route 60 and Interstate 15. Grubb & Ellis’ Brad Yates represented the buyer, Crown Cedar, in the transaction, and CB Richard Ellis’ Kevin McKenna represented the seller, Operating Engineers Fund LLC.
WILSONVILLE, ORE. — Grubb & Ellis has negotiated a 131,793-square-foot, Class A office lease at 27500 SW Parkway Ave. in Wilsonville. Grubb & Ellis’ David Squire and Jake Lancaster represented the building owner, Washington Capital Management, in the transaction with the lessee, Oregon Institute of Technology, which was represented by Melvin Mark Brokerage Co.’s Pat Schreck and Tim Parker. The college signed a 10-year lease with an option to purchase at the four-story building, which was previously InFocus’ headquarters.
CALIFORNIA — Developers Diversified Realty Corp. has sold three former Mervyn's locations in California — a 75,207-square-foot property at Southland Plaza Shopping Center in San Diego, an 88,223-square-foot property at Westfield Solano Shopping Center in Fairfield and a 79,808-square-foot location at Westfield Eastland Shopping Center in West Covina. Terms of the deals were not disclosed.