TUCSON, ARIZ. — Marcus & Millichap has brokered the $3.5 million sale of a 13,905-square-foot Walgreens in Tucson. The brokerage firm’s Jacob Levy and Hamid Panahi represented the buyer and seller, respectively, of the single-tenant, net-leased property; both participants were limited-liability companies.
Western
BEVERLY HILLS, CALIF. — Charles Dunn Co. has closed Parness Family Trust’s $2.15 million sale of a 9-unit multifamily property located at 8730 Charleville Blvd. in Beverly Hills. Charles Dunn’s Hamid Soroudi and Cari Widman represented the buyer — The Charleville LLC — and seller, respectively, in the all-cash transaction.
SOUTH JORDAN, UTAH — Western National Properties and Kennecott Land are developing the 315-unit Crossing at Daybreak luxury apartment complex within Kennecott’s 4,200-acre, master-planned Daybreak community in South Jordan. It will be the first apartment community at Daybreak and the first project in Utah for Western National Properties, an affiliate of Irvine, California-based multifamily firm Western National Group. Initial occupancy at Crossing at Daybreak will take place this summer.
SAN DIEGO — Construction of two child development centers totaling $10.9 million has begun on Naval Amphibious Base Coronado and Naval Air Station North Island. With the capacity to serve 286 children, the facilities will include play areas, landscaping, new parking lots, drop-off areas and service entrances. Barnhart Balfour Beatty is the contractor for the project, which is slated for completion in January 2011, and the design partner is San Diego-based Roesling Nakamura Terada Architects.
CERRITOS, CALIF. — Marcus & Millichap has brokered the more than $9.8 million sale of the 58,126-square-foot Del Amo Plaza neighborhood retail center located at 11853 Del Amo Blvd. in Cerritos. Built in 1963 but newly renovated, the 91 percent-occupied Del Amo Plaza is anchored by Starbucks Coffee, Bally Total Fitness and Quiznos. Marcus & Millichap’s Chris Maling and David Maling represented the seller in the transaction.
MERCED, CALIF. — McCarthy Building Cos. has completed construction of the new $166 million Mercy Medical Center replacement hospital in Merced. A Catholic Healthcare West affiliate, the medical center consolidates two existing campuses into one facility consisting of an eight-level, 185-bed, 266,000-square-foot general acute tower and a 19,000-square-foot central plant. The Mercy Medical Center includes the following departments: Intensive Care Unit (ICU), Surgery Center, Operation Recovery, Labor and Delivery, Neonatal ICU, Newborn Nursery, Emergency Room and Ambulatory Care. RBB Architects was the project designer, and Harris & Associates was the owner’s construction manager.
PALMDALE, CALIF. — Macy's Inc. has announced that it will open a Macy's store in Palmdale in the fall. Employing approximately 130 associates, the one-level, 110,000-square-foot store will occupy a former Gottschalks location in the Antelope Valley Mall.
CULVER CITY, CALIF — Punch Studio has acquired a 41,000-square-foot office building, located at 6025 Slauson Ave. within Playa Corporate Center in Culver City, for $10.8 million. The Klabin Company’s Ron Rader and Doug Marshall represented the buyer in the transaction, and CB Richard Ellis’ Stan Gerlach, Jeff Pion, Bryan Dunne and Michelle Esquivel-Hart represented the undisclosed sellers. Punch Studio, a manufacturer of gift and stationery items, plans to connect the two-story office building to the company’s existing office and warehouse facility next door with the addition of a new wing, which will increase the total property to approximately 140,000 square feet when completed in late 2011.
PORTLAND, ORE. — Grubb & Ellis has represented United Stationers Supply Co. in its 195,510-square-foot industrial lease at Rivergate Corporate Center III, located at 14330 N. Lombard St. in Portland. Terms of the deal were not disclosed. Brad Fletcher of Grubb & Ellis represented the lessee in the transaction, and John Fettig of Capacity Commercial represented the lessor, MEPT Rivergate III LLC.
EUGENE, ORE. — Pegasus Investments has represented a California-based private investor in its acquisition of a 60,000-square-foot retail building occupied by Dick’s Sporting Goods in Eugene. The off-market transaction, which involved a highly complex loan assumption and seller wraparound structure, was valued at approximately $200 per square foot. Pegasus’ David Chasin and Ken Chasin represented the buyer in the transaction, and GVA Kidder Mathews’ Craig Spinks and Josh Veentjer represented the seller, a family trust. Brad Pepin of Stan Johnson Co. also assisted in negotiating the deal. The freestanding, 100 percent net-leased building is located within the 400,000-square-foot Delta Oaks Shopping Center, which is also anchored by Walmart and The Home Depot.