HENDERSON, NEV. — Colliers International has completed the $4.8 million sale of the 104,030-square-foot Sunset Pointe Industrial Center, located at 505-585 W. Sunset Rd. in Henderson. Built in 2009, the business park consists of 21 industrial buildings. Colliers’ Scott Heaton, Patrick Barnes and E.J. Paul Sweetland represented the seller, City National Bank, in the transaction; Lee and Associates’ Mel Koich represented the buyer, Laguna Beach, Calif.-based Bakken Wineville Properties LLC.
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COMMERCE, CALIF. — Jones Lang LaSalle has represented Maruhana USA Corp. in its 44,897-square-foot industrial lease at a multi-tenant facility located at 4455 Sheila Street in Commerce. Terms of the deal were not disclosed. Jones Lang LaSalle’s Paul Sablock, Barry Hill, Greg Matter and Zac Sakowski, along with Kevin Curtis of Colliers International, represented the Japanese food, wholesale grocery and professional restaurant supply company in the transaction. Jeffrey Stephens of CB Richard Ellis represented the landlord, Verdemont Associates California.
SOUTH SAN FRANCISCO, CALIF. — Terreno Realty Corp. has purchased an 80,524-square-foot warehouse building, located at 238-242 Lawrence Ave. in South San Francisco, from John C. Nickel Properties for $9.6 million. Cassidy Turley’s Matt Squires and Randy Keller represented the buyer in the transaction, and the brokerage firm’s Marshall Hydorn and Jason Cranston represented the seller. The multi-tenant airfreight and distribution/warehousing facility was fully leased at the time of sale.
ONTARIO, CALIF. – CT Realty Investors and Dallas-based Behringer Harvard Opportunity REIT II have purchased the 231,444-square-foot Archibald Business Center, located at 2021 So. Archibald Ave. in Ontario, from Bixby Land Co. for $9.5 million. Fully occupied by SKECHERS USA Inc., the Class A facility features 206,484 square feet of distribution/warehouse space and 24,960 square feet of corporate office space. CT Realty represented itself and Behringer Harvard in the transaction; Rick John of Collins Commercial represented the seller.
LOS ANGELES — Marcus & Millichap has negotiated the $3.5 million sale of a 36-unit apartment property located in the Van Nuys area of Los Angeles. The brokerage firm’s Reza Ghobadi and Frank Pour represented both the financial-institution seller and the limited-liability-company buyer in the transaction.
BUENA PARK, CALIF. — The Buena Park City Council has unanimously approved Jamboree Housing Corp.’s 70-unit affordable-housing project to be developed on a 2-acre urban infill site at 8850 La Palma Ave. Designed by Newport Beach, Calif.-based Newman Garrison + Partners, the four-story apartment community will utilize a sustainable green roof over the interior 142-space parking area, creating more than 20,000 square feet of open space for residents. Irvine, Calif.-headquartered Jamboree will also include amenities such as a residents meeting room, a tutoring center, a fitness center and a kitchen at the multifamily development. Created for residents earning between 30 to 60 percent of the county’s area median income, the apartment property will consist of one-, two- and three-bedroom units. Construction is expected to start next year with completion slated for 2012.
GARDENA, CALIF. — Marcus & Millichap has negotiated the $3.475 million acquisition of a 46-unit apartment property located at 18424 South Normandie Ave. in Gardena. Marcus & Millichap’s Gordon Reese represented the buyer, a limited liability company, in the transaction.
LONG BEACH, CALIF. — Developed by Lyon Communities and designed by KTGY Group, Architecture and Planning, the 291-unit luxury apartment community gallery421 had its grand opening on West Broadway, just north of Ocean Boulevard, in the heart of downtown Long Beach. The five-story, mid-rise multifamily development offers a business and conference center, an on-site art gallery, a coffee bar, a state-of-the-art fitness center, a yoga and Pilates studio, a private movie theatre, a game room, a billiards room, a card room and even a special dog-grooming room. There is also 16,000 square feet of on-site, street-level retail.
BEVERLY HILLS, CALIF. — Hudson Pacific Properties has acquired the leasehold interest in a 58,484-square-foot office building, located at 9300 Wilshire in Beverly Hills, in a $15 million, all-cash transaction. Situated at the intersection of Wilshire Boulevard and Rexford Drive, the six-story building is approximately 93 percent leased to a mix of professional service businesses, media and entertainment companies, and financial firms. Madison Partners’ Bob Safai represented the seller, 9300 Wilshire Building LLC, in the transaction.
VISTA, CALIF. — Cassidy Turley BRE Commercial has closed the $2.35 million sale of the Primrose Park Apartments located at 2224 and 2232 Primrose Ave. in Vista. Cassidy Turley‘s Ray Adams represented the seller, Primrose Park Apartments LLC, in the transaction; Epifany Properties, the buyer of the property featuring 22 two-bedroom apartment units, represented itself.