SANTA ANA, CALIF. — Rexford Industrial LLC has acquired the 101,187-square-foot Grand Commerce Center, a multi-tenant industrial complex located at 600 South Grand Ave. in Santa Ana, from Shook Properties for $7.8 million. The six-building, 80 percent-leased property is the first purchase for the newly formed Rexford Industrial Fund V REIT. Sperry Van Ness’ Frank Kosi represented both the buyer and the seller in the lender-mandated, short-sale transaction.
Western
CITY OF INDUSTRY, CALIF. — Lee & Associates has negotiated the $4.7 million sale of a 37,719-square-foot office/industrial warehouse located at 18130 E. Rowland Street in City of Industry. Lee & Associates’ Patrick Bogan and Steve Coulter represented DBDK LLC, owner of the Elegant Footwear shoe brand, in the transaction; and the brokerage firm’s Chris Bonney represented the sellers, Cu Family Trust and the Lau Family trust.
SANTA FE, N.M. — Healthcare Trust of America has acquired a 33,631-square-foot medical office building in Santa Fe for approximately $9.56 million. Located adjacent to the 268-bed CHRISTUS St. Vincent Hospital, the St. Vincent 440 MOB is 100 percent leased to CHRISTUS St. Vincent Regional Medical Center, with a remaining lease term of 9 years.
CALABASAS, CALIF. — PCCP LLC and Dallas-based Lincoln Property Co. have acquired a two-story, 51,654-square-foot suburban office building located within Calabasas Corporate Center in Calabasas. Built in 2008 and only about a 20-minute drive from Malibu, the vacant, newly constructed Class A building includes two levels of parking. The joint venture purchased the property in an off-market, short-sale transaction involving the existing construction lender.
SPARKS, NEV. — Morrissey Realty presided over the nearly $6.65 million sale of a trucking facility located at 1050 Coney Island Dr. in Sparks. FedEx Freight acquired the 17,578-square-foot building, which was constructed on 10.12 acres in 1980. The buyer will expand company operations from its adjacent, existing facility. Morrissey Realty’s Pat Morrissey and James Lowey were the sole brokers in the transaction.
GARDEN GROVE, CALIF. — Marcus & Millichap has announced the $1.25 million sale of the 7,718-square foot G.I. Plaza, a 13 percent-vacant shopping strip located at 11512 Magnolia Street in Garden Grove. Marcus & Millichap’s Michael Woolbright represented the Los Angeles-based private-investor seller in the transaction, and the brokerage firm’s Ron Duong represented both the seller and the buyer, an Orange County-based investor.
SAN FRANCISCO — Hudson Pacific Properties has acquired a 144,440-square-foot office property, located at 222 Kearny Street in San Francisco’s North Financial District, from an affiliate of Canyon Capital Realty Advisors for $34.9 million. The two-building property consists of a 10-story office tower built in 1986 and a five-story structure built in 1915.
LAS VEGAS — Stoneridge Capital Partners has acquired the approximately 100,000-square-foot Sunset Pilot Plaza, a Class A office property located at 280 Pilot Road in Las Vegas. Developed in 2008, the three-story office building is situated within the 3.3 million-square-foot Hughes Airport Center business park. CB Richard Ellis' Charles Moore, Michael Newman and Marlene Fujita-Winkel represented the undisclosed seller in the transaction; Newport Beach, Calif.-based Stoneridge did not have broker representation.
CITY OF INDUSTRY, CALIF. — Lee & Associates has negotiated the $5.66 million sale of a 53,918-square-foot industrial property, located at 19907 E. Walnut Dr. South in City of Industry. Built in 2000, the property offers freeway frontage and six dock-high doors with a 24-foot ceiling clearance. Lee & Associates’ Marc DiGennaro represented the buyer, Zoe LW Enterprises LLC, in the transaction, and the brokerage firm’s Jeff Bethel represented the Walnut, Calif.-based real estate investment seller, Catesgarb Holdings.
AURORA, COLO. — NorthMarq Capital has arranged $28.29 million in permanent financing for the 576-unit Ridge Hill Apartments, located at 991 South Crystal Way in Aurora. Constructed in 1985, the community comprises 31 three-story, garden-style apartment buildings. NorthMarq’s Gordon Mickelson and Angela Jordan arranged the financing for the undisclosed borrower.