POWAY, CALIF. — Cushman & Wakefield has brokered Thunderbird Resorts’ $1.6 million acquisition of a single-story, freestanding office/flex building located at 12255 Parkway Centre Dr. in Poway. The international provider of branded casino entertainment and hospitality services will relocate to its new 8,025-square-foot corporate headquarters in November. Cushman & Wakefield’s Mickey Morera and James Duncan represented both the buyer and the seller, San Diego Employers Association, in the transaction.
Western
TURLOCK, CALIF. — NorthMarq Capital has arranged the sale of an approximately $44 million note on the 298,971-square-foot Monte Vista Crossings, a retail center located at the intersection of Highway 99 and W. Monte Vista Ave. in Turlock. Major tenants at the property are Ross, BevMo, T.J. Maxx, Office Max, Pier 1 Imports, and Bed Bath and Beyond. NorthMarq’s Dennis Williams arranged the note sale on behalf of its correspondent lender, TIAA-CREF.
GARDEN GROVE, CALIF. — Holliday Fenoglio Fowler LP has arranged $20 million in refinancing for Rose Garden Apartments, a 239-unit multifamily community located at 9645 Westminster Ave. and 11632 Stuart Drive in Garden Grove. The affordable housing complex maintains an average occupancy of 97 percent. HFF’s David Bleiweiss represented the borrower, Bertram Partners, in securing the 10-year, fixed-rate Fannie Mae DUS loan.
PASO ROBLES, CALIF. — Pacific Capital Bank has sold a 48,431-square-foot industrial warehouse condo, located at 500 Linne Road in Paso Robles, to Advanced Powder Coating. Bob Fonarow of Lee & Associates Central Coast was the listing agent.
WESTMINSTER, CALIF. — Marcus & Millichap has brokered the $3.215 million sale of an 18,960-square-foot office property located at 202 & 210 Hospital Circle in Westminster. The brokerage firm’s Pasha Darvishian represented the LLC seller in the transaction involving a private-investor buyer.
SACRAMENTO — On behalf of the property owner, Cassidy Turley BT Commercial has negotiated a 10-year lease renewal for 250,000 square feet of industrial space located at 7021 Roseville Road in Sacramento. Cassidy Turley’s Ted Gallagher and Jeff Post represented Tisha Land Co. in the transaction. The long-time tenant, United Stationers Supply Co., initiated the lease renewal 1 year prior to expiration.
LAS VEGAS — Healthcare Trust of America has purchased the 73,300-square-foot San Martin Medical Arts Pavilion, an on-campus medical office building located in Las Vegas, for approximately $19.1 million. Completed in 2007 and 95 percent leased at time of acquisition, the three-story, multi-tenant property is connected directly to St. Rose Dominican Hospital, a 147-bed, acute-care facility serving the growing needs of the southwest Las Vegas community. The transaction marks HTA’s first acquisition in the gaming capital of the world.
SAN DIEGO — Lowe Enterprises has completed the $188.5 million first phase of the County Operations Center and Annex redevelopment located along Overland Avenue in the Kearny Mesa area of San Diego. Designed by RJC Architects, the first of three phases consists of two 150,000-square-foot, four-story, steel-frame office buildings and a seven-level, 1,800-space parking structure. Approximately 1,100 employees from nine county departments, including General Services, Library, Aging & Independence Services, Sheriff, Purchasing & Contracting, Public Works, Auditor, Environmental Health and Parks & Recreation, have begun to relocate to the new buildings. Construction of the project’s next phase is slated to begin in January 2011.
LOS ANGELES — NorthMarq Capital has arranged $21 million in first mortgage financing for a 354,809-square-foot industrial building with special improvements located 1444 Alameda Street in downtown Los Angeles. Financing was based on a 7-year term and a 25-year amortization schedule, and was arranged for the borrower by NorthMarq’s Michael Elmore through the company’s correspondent relationship with The Prudential Insurance Co. of America.
ARIZONA — Hendricks & Partners has closed the sale of the seven-property, 2,759-unit apartment portfolio known as Bethany Kingdom I Arizona in a $133.1 million transaction facilitated through the restructuring of existing CMBS bonds. The Arizona apartment communities consist of the 320-unit Alante at the Islands, the 374-unit Crosswinds and the 460-unit Laguna Village in Chandler; the 395-unit Sienna Springs in Phoenix; the 196-unit Tela Verde in Glendale; and the 582-unit Tuscany Palms and 432-unit Whispering Meadows in Mesa. Hendricks & Partners’ Mark Forrester and Ric Holway spearheaded the marketing of the portfolio, an effort that resulted in more than 1,100 executed confidentiality agreements from buyers worldwide and 181 offers. One of the largest lender-facilitated portfolio apartment sales in the southwestern United States was completed by Hendricks & Partners on behalf of the seller, LaSalle Bank National Association c/o Trigild Inc. of San Diego. The buyer was Standard Portfolios II LLC. The properties averaged 90 percent occupancy at close of escrow.