SCOTTSDALE, ARIZ. — CB Richard Ellis (CBRE) has negotiated the sale of the 202-unit Desert Parks Vista Apartments, a luxury multifamily community located at 9393 E. Palo Brea Drive in Scottsdale. The purchase price was not disclosed. Built in 2005, Desert Parks Vista was 95 percent occupied at the time of sale. Situated within the exclusive DC Ranch master-planned community, the property includes a resort-style swimming pool with spa, a conference room, a state-of-the-art fitness center and a clubhouse with plasma TV and fireplace. CBRE’s Tyler Anderson and Sean Cunningham represented the Scottsdale-based seller, The PB Bell Cos., in the transaction; the buyer, a company formed by Irvine, Calif.-based PASSCO Cos. LLC, was represented by PASSCO’s Gary Goodman.
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IRVINE, CALIF. — Grubb & Ellis has represented Goodyear Investment LLC in its $11.6 million sale of 20 Goodyear, a 135,777-square-foot industrial building located in Irvine. Built in 1983, the single-story manufacturing facility includes dock-high and ground-level loading docks. Grubb & Ellis’ David Kluver and Nick Carey represented the seller in the transaction, and The Heger Company’s Hak Chung represented the buyer, Navien America.
SAN DIEGO — Stoneridge Capital Partners has acquired the 46,620-square-foot Four Governor Park office property located at 5080 and 5090 Shoreham Place in San Diego. The multi-tenant development is currently 90 percent leased. Cassidy Turley/BRE Commercial’s Brian Driscoll represented the seller in the all-cash transaction.
SANTA MARIA, CALIF. — Through its affiliate Union Development Co. (UDC), Los Angeles-based real estate developer Barker Pacific Group has acquired A-American Self Storage, a self-storage and RV-storage facility in Santa Maria, for $4.5 million. Purchased from A-American/Santa Maria Storage Partners, the facility will be re-branded under UDC’s Storage Solutions name. The acquisition includes 108,564 square feet of rentable space across 849 storage units and 99 RV parking spaces on 5.65 acres.
SHERMAN OAKS, CALIF. — Investment Real Estate Associates (IREA) has brokered the more than $23 million sale of the 98-unit Magnolia Apartments, located at 15357 Magnolia Blvd. in Sherman Oaks. IREA’s Clark Everitt and William Everitt represented both the seller, 15357 Magnolia Associates LLC and Westgate Group, and the buyer, a private individual investor, of the multifamily property, which was constructed in 2009.
OXNARD, CALIF. — Hagelis Group has completed the sale of the 171,000-square-foot Target Plaza located at 150-300 W. Esplanade Drive in Oxnard. Listed for $15.1 million and anchored by Target and Food 4 Less, the regional shopping center is situated directly across the street from the 550,000-square-foot Esplanade shopping center. Bill Hagelis of Hagelis Group represented both the undisclosed buyer and the seller, KIR Oxnard LP, in the all-cash transaction.
SAN JOSE, CALIF. — Grubb & Ellis has negotiated ConAgra Foods Packaged Foods LLC’s $4.8 million sale of a 45,832-square-foot industrial building, located at 1744 Junction Ave. in San Jose, to Pan’s Junction Investments LLC. Located near Interstate 880, the freestanding building includes food-processing space and a five-door, covered dock platform. Grubb & Ellis’ David Sass represented the seller in the transaction, and Derik Benson of Cassidy Turley BT Commercial represented the buyer.
LOS ANGELES — Madison Partners has completed the $4.3 million sale of a 13,565-square-foot, Class A office building located at 4500 Wilshire Blvd. in Los Angeles. Situated in the Park Mile submarket, the three-story property was vacant at the time of sale. Madison Partners’ Lynwood Fields and Joe King represented the seller, 4500 Wilshire LLC, in the transaction, and Paul Asher of Building Capital Realty represented the buyer, Salomon Investment Partners LLC.
SAN FRANCISCO — For $90 million, Pebblebrook Hotel Trust has acquired the 416-room Sir Francis Drake Hotel, located at the center of Union Square in downtown San Francisco, from a partnership led by The Chartres Lodging Group LLC. Originally constructed in 1928, the 23-story hotel includes the award-winning Scala's Bistro, the Wine Room at Scala's, the famed Harry Denton's Starlight Room on the 21st floor, Bar Drake in the hotel's lobby and a Starbucks Coffee, as well as 18,000 square feet of meeting space, a 24-hour fitness center and a 24-hour business center. The hotel will continue to be managed by Kimpton Hotels & Restaurants.
CERRITOS, CALIF. — Colliers International has completed the $4.35 million acquisition of a 48,351-square-foot industrial building located at 17719 Valley View in Cerritos. Built in 1980, the facility is situated on 100,619 square feet of land in south Los Angeles County. Colliers represented Cerritos-based 17719 D & D Management LLC in its purchase of the property from Visalia, Calif.-based Oviatt Family Trust, which was represented by Lee & Associates Tom Gilmer, Brad Gilmer and Clif Fincher. The buyer’s distribution operation, Nelson-Dunn Inc., will occupy the space for the warehousing and distribution of hose and hydraulic components.