POWAY, CALIF. — Marcus & Millichap has brokered the $38.3 million sale of Poway Royal Estates, a 399-space, 51-acre mobile-home park located at 13300 Alpine Drive in Poway. Constructed in 1972, the park consists of almost all doublewide homes on doublewide sites and includes two clubhouses and swimming pools. Marcus & Millichap’s Douglas Danny represented the seller, the City of Poway, in the transaction.
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TORRANCE, CALIF. — Hudson Pacific Properties has acquired the five-story, 113,000-square-foot Del Amo Office building, located on 2.3 acres at 3501 Sepulveda Blvd. in Torrance, for $27.5 million in an all-cash transaction. The property is 100 percent leased to Saatchi & Saatchi North America.
SIMI VALLEY, CALIF. — Colliers International has completed the $11.42 million sale of a two-building, office and industrial property located at 2900-2950 Madera Rd. in Simi Valley. Buyer Kingsbridge International, an importer/wholesaler of housewares and giftwares, will operate its business from the 135,683-square-foot distribution building and will lease the 72,810-square-foot office building back to the seller, Bank of America. Colliers’ John DeGrinis, Patrick DuRoss and Jeff Abraham represented the buyer in the transaction; the seller was represented by Cushman & Wakefield.
LAS CRUCES, N.M. — Steinborn/TCN Commercial Real Estate has brokered a 182,000-square-foot industrial lease in the West Mesa Industrial Park in Las Cruces. Alaska Structures’ 5-year lease at the Class A manufacturing plant includes a purchase option. Steinborn/TCN’s John Hummer and Grady Oxford represented the owner, REA Magnet Wire Co., and tenant, respectively.
SAN DIEGO — Wood Partners LLC has purchased a 5.9-acre site, located at 8798 Spectrum Center Blvd. in the Spectrum Center business park in San Diego, where it plans to develop a 379-unit luxury apartment community. The multifamily development will consist of two separate apartment buildings situated over two levels of basement garage totaling 750 parking spaces and will include an expansive pool area, a two-story clubhouse and a state-of-the-art fitness center. The first development acquisition by Wood Partners in San Diego followed a quick, 2-month process to secure the required $90 million in financing. Construction of the four-story podium complex will start by September 1.
ANAHEIM, CALIF. — Marcus & Millichap has brokered the $17 million acquisition of The Arbors at Magnolia Apartments, a 142-unit multifamily community located at 150 South Magnolia Ave. in Anaheim. Built in 1970, the 110,462-square-foot property consists of 103 one-bedroom/one-bath units, 33 two-bedroom/one-bath units and six two-bedroom/two-bath apartments. Marcus & Millichap’s Alex Mogharebi represented the Los Angeles-based private-investor buyer in the transaction.
ASPEN, COLO. — Boston-based Alcion Ventures, in conjunction with Chicago-based Golub & Co. and local operating partner, Bald Mountain Development LLC, has purchased a 2.4-acre parcel of land on South Aspen Street in Aspen from Centurion Partners for $15 million. Acquired at distressed pricing during its foreclosure, the property is currently entitled for 14 luxury townhomes and 17 affordable-housing units, but the partnership is currently evaluating all development options.
HELENA, MONT. — On behalf of the developer, The Velmeir Cos., McShane Construction Co. will build a 14,700-square-foot CVS/pharmacy store at 3095 N. Montana Ave. in Helena. The interior of the single-story retail facility will include retail space, a professional one-hour photo and a fully operational pharmacy featuring a double drive-thru. Detroit-based NORR Architects Engineers Planners is the project designer.
ANAHEIM, CALIF. — Lee & Associates-Orange Inc. has negotiated the $6.5 million purchase of a 39,747-square-foot office building located at 525 N. Muller St. within Crescent Corporate Center in Anaheim. Lee & Associates’ Erik Thompson represented the buyer, CIT College of InfoMedical Technology, in the transaction; the seller, Anaheim Union High School District, represented itself. The buyer plans to occupy the property, which was built in 1986, and operate its school there.
SUNNYVALE, CALIF. — Cassidy Turley BT Commercial has brokered the nearly $3.23 million acquisition of an R&D building in Sunnyvale. The single-story, freestanding facility is fully leased to a biotech company. Cassidy Turley’s Andy Bogardus represented the buyer in the transaction.