LOMA LINDA, CALIF. — An undisclosed buyer has acquired Loma Linda Professional Center, a six-building office complex in Loma Linda, for $2.96 million or $272 per square foot. Located at 25845 F Barton Rd., the property offers 69,000 square feet of medical, office and retail suites. A portion of the property will be leased to Loma Linda University Medical Center. Drew Wetherholt and Vincent Schwab of Marcus & Millichap’s Ontario, Calif., office brokered the transaction.
UPLAND, CALIF. — Tim Sebek of Marcus & Millichap represented both undisclosed parties in the disposition and acquisition of a vacant retail property, which is located at 2419 Euclid Ave. The 38,640-square-foot property, which was formerly occupied by Albertsons, sold for $1.55 million.
PHOENIX — McShane Construction Co. has completed a renovation and remodeling assignment for Climatec’s 103,000-square-foot corporate headquarters, which is located at 2851 W. Kathleen Rd. in Phoenix. The company’s design-assist assignment included the partial demolition and reconstruction of the entire facility. The renovation included redesign of the interior spaces and entryway of the facility, as well as the incorporation of several of Climatec’s products. Mechanical, electrical, plumbing and HVAC systems were replaced with cost-effective, energy-efficient models. Phoenix-based Dick & Fritsche Design Group provided architectural services for the project.
OAKLAND AND HAYWARD, CALIF. — Marcus & Millichap has brokered two multifamily transactions totaling approximately $3.39 million in the San Francisco Bay area. In the first transaction, David Wolfe and Eli Davidson of Marcus & Millichap’s Oakland office represented the undisclosed buyer in the acquisition of Glen Park Apartments, an 18-unit multifamily property located at 3507 Glen Park Rd. in Oakland. The property, which also offers retail space, sold for $1.6 million. In the second transaction, Kevin Turner of Marcus & Millichap represented the undisclosed seller in the disposition of Blossom Way Apartments, a 16-unit multifamily property located at 321-347 Blossom Way in Hayward. The cottage-style property sold for $1.78 million.
GILBERT, ARIZ. — Newmark Realty Capital has secured $3 million in permanent financing for a 41,157-square-foot office/warehouse building in Gilbert. Located within the Fiesta Commerce Center, the building is fully occupied by Lockheed Martin. Adam Parker of Newmark’s Phoenix office arranged the financing for the undisclosed borrower.
LAKE ELSINORE, CALIF. — A 44,000-square-foot Stater Bros. Market has opened at Canyon Hills Marketplace in Lake Elsinore. The energy-friendly store features energy-efficient skylights and refrigeration systems. The store also features full-service meat, seafood, bakery, floral, produce, pharmacy and delicatessen departments. San Diego-based Sudberry Properties owns the shopping center. Current tenants at the center include CVS/pharmacy, Starbucks Coffee, Bank of America, Jack in the Box, Carl’s Jr., Family Tires, Papa John’s Pizza, Subway, Fantastic Sam’s and Verizon.
WOODINVILLE, WASH. — Mike Wood of NBS Financial Services arranged a $2.6 million loan for Underwood Gartland 216, a 71,750-square-foot warehouse/distribution center in Woodinville. The 5-year loan has a 25-year amortization schedule and a 43 percent loan-to-value ratio. Symetra Life Insurance Co. funded the loan for the borrower, Underwood Gartland 216 LLC.
SAN FRANCISCO — Starwood Hotels & Resorts Worldwide has completed the disposition of W San Francisco, a 404-key hotel located at 181 3rd St. in San Francisco. Hong Kong-based Keck Seng Investments acquired the property for $90 million. The hotel features 12,000 square feet of meeting space, a Bliss® Spa and a SWEAT® Fitness Center. Jones Lang LaSalle Hotels brokered the transaction on behalf of the seller.
ALISO VIEJO, CALIF. — The Alison Company has arranged a $5.5 million loan for the refinancing of Journey Business Park in Aliso Viejo. Built in 1999, the multi-tenant property offers 60,648 square feet of office, light industrial and retail space. The 10-year loan has a 25-year amortization schedule. Shaun Moothart of The Alison Company secured the financing through an undisclosed life company correspondent.
SACRAMENTO, CALIF. — McCarthy Building Cos., along with the city of Sacramento, the Sacramento Public Library, Sacramento City Unified School District and Regent Development, is developing a Sacramento Public Library facility located in the Pocket-Greenhaven neighborhood of Sacramento. The 15,000-square-foot library branch will feature a 100-seat community room, a teen room, two group study rooms, a preschooler ready-to-read room, a quiet reading room and a room for more than 50,000 books and digital materials. Completion is slated for summer 2010. McCarthy is serving as general contractor; Regent Development is the project’s developer; and WLC Architects is the architect of record.