HIGHLAND, CALIF. — Marcus & Millichap has brokered the more than $9.2 million sale of a 45,000-square-foot LA Fitness in Highland. The store is one of the anchor tenants, along with Lowe's Home Improvement Warehouse and Staples, in Highland Crossroads, Regency Centers’ new 8.5-acre retail development. Marcus & Millichap’s Chris Maling and David Maling represented both the seller, a real estate investment trust, and the buyer, an Arizona-based opportunity fund, in the transaction.
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SAN DIEGO — Cushman & Wakefield has negotiated the more than $3.5 million purchase of a two-story, 12,760-square-foot office building located at 10803 Thornmint Rd. in the 4S Ranch community of San Diego. Cushman & Wakefield’s Marc Posthumus represented the buyer, 10805 Thornmint Road LLC, and Brian Driscoll and Brian Starck of Cassidy Turley/BRE represented the seller, Mission Federal Credit Union.
PORTLAND, ORE. — KBS REIT II has acquired the 20-story One Main Place office tower in Portland’s central business district. Comprising an entire city block bounded by Main, First, Second and Salmon streets, the 315,133-square-foot, Class A One Main Place is Portland’s 16th largest office building. Eastdil Secured’s Russ Cooper and Darwin Rodriguez represented the undisclosed seller in the transaction, and KBS Capital Advisors, an affiliate of KBS Realty Advisors, represented KBS REIT II. Originally built in 1982 and boasting an occupancy of 99 percent, One Main Place is located immediately across the street from the Federal Courthouse and a block from the Willamette River and Hawthorne Bridge.
PLEASANTON, CALIF. — PKF Capital San Francisco has arranged the $12.3 million sale of the 170-room Sheraton Hotel located in Pleasanton. Converted to a Sheraton Hotel from a Wyndham Garden Hotel in 2006, the property features meeting and banquet space, a restaurant and lounge, and a Link Business Center. PKF Capital’s Henry Bose and Mark McDermott represented the seller, a Southern California-based fund manager. The buyer was Pleasanton Lodging LP, a partnership involving principals from Sethi Enterprises and Kapoor Enterprises.
SEATTLE — Hendricks & Partners has brokered the sale of Rianna I and Rianna II located at 810 and 728 12th Ave. in Seattle. Built in 2000 and 2002, respectively, the mixed-use buildings total 156 apartment units and include retailers Starbucks Coffee and Subway. The seller was 12th and Columbia LLC, which includes local investor Laurel Spelman, and the buyer was Equity Residential. Hendricks & Partners’ Kenny Dudunakis represented both parties in the transaction.
HAYWARD, CALIF. — Roessler Investment Group has handled the $2.25 million sale of The Aldengate Stores, a freestanding 7-Eleven, a post office and a car wash located at 2151-2175 Aldengate Way in Hayward. Jim Roessler represented the sellers of the properties, which total 6,336 square feet, and the buyer was represented by ERA East West Realty’s Agnes Han and Stella Son.
CHANDLER, ARIZ. — Marcus & Millichap has brokered the $1.62 million sale of a 2,780-square-foot Taco Bell located at 2930 S. Alma School Rd. in Chandler. Marcus & Millichap’s Mark Ruble and Jamie Medress represented the seller, Pono LLC, in the transaction involving the fast-food restaurant property, which is an out-parcel to a Target-anchored center.
GARDENA, CALIF. — Marcus & Millichap has negotiated the nearly $1.5 million sale of a 2,752-square-foot Burger King located at 14311 S. Western Ave. in Gardena. Marcus & Millichap’s Dennis Weisberg, Peter Deltondo and Tyler Leeson represented the seller, a partnership, of the net-leased property.
TUSTIN, CALIF. — Barnhart Inc. has broken ground for the construction of a new $3.7 million aquatic center at Foothill High School in north Tustin. The project includes a new, Olympic-sized, 50-meter pool; a pool deck; exterior showers and drinking fountains; and a one-story mechanical/pool equipment building. Designed by San Diego-based NTD Architecture and funded by the Tustin Unified School District’s $95 million Bond Measure L, the aquatic center is scheduled for completion in time for the start of the 2010-2011 school year.
COMMERCE, CALIF. — Grubb & Ellis has negotiated FBS Manufacturing’s $3.4 million acquisition of 38,590 square feet of industrial space located at 7210 Dominion Circle in Commerce. Grubb & Ellis’ Joshua May and Kyle Degener represented the seller, Sang Won Kim, in the transaction; the brokerage firm’s Thomas Lam and Stephen Lim represented the buyer.