PHOENIX — CB Richard Ellis (CBRE) has negotiated the $8.75 million sale of a 250,157-square-foot, 100 percent leased distribution building located within Estrella Business Park at 1002 S. 63rd Ave. in Phoenix. CBRE’s Barry Gabel and Mindy Korth represented the seller, Honolulu-based 1600 Broadway LLC, in the transaction; the buyer was Duke Realty Limited Partnership of Phoenix.
Western
DENVER — Fuller Real Estate has brokered Mariposa Real Estate Investments LLC’s $2.85 million purchase of a 48,796-square-foot industrial building located at 275 Mariposa Street in Denver. Fuller’s Alec Rhodes and Tyler Smith represented the buyer in the transaction, and CB Richard Ellis’ Tyler Carner, Jim Bolt and Mike Camp represented the seller, LCP 275 LLC.
PARAMOUNT, CALIF. — Faris Lee Investments has completed the $14 million sale of an 88,341-square-foot, single-tenant retail property located at 14601 Lakewood Blvd. in Paramount. Occupied by El Super Grocery Store, the property was remodeled in 2009 to also accommodate El Super’s corporate headquarters. Faris Lee’s Donald MacLellan and Richard Walter represented the seller, Phoenix-based LDR/DMG Paramount LLLP, in the all-cash transaction, and Mitch Conlee of Daum Commercial represented the buyer, Los Angeles-based Wolf Trust, which was completing a 1031 exchange.
LAS VEGAS — Vegas Retail Leasing has handled the sale of the 28,880-square-foot Plaza Las Americas located at 540 and 546 North Eastern Ave. in Las Vegas. Completed in late 2008, the retail center features 18 units and is 42 percent occupied. Grubb & Ellis’ Nelson Tressler and Michael Kammerling represented the buyer, Plaza Las Americas Holdings LLC, in the transaction, and Charlotte Sousa of Vegas Retail Leasing represented the seller, Nevada State Bank.
VANCOUVER, WASH. — Marcus & Millichap has brokered the $6.8 million sale of Mountain View Village Center, a 35,788-square-foot retail property located at 14415 SE Mill Plain Blvd. in Vancouver. Marcus & Millichap’s Justin Poor, Michael Kapnick and Greg Wendelken handled the transaction on behalf of the buyer and seller, both Oregon-based limited-liability corporations.
SACRAMENTO, CALIF. — NBS Real Estate Capital LLC has partnered with St. Louis-based Sheehy Investment Group LLC in the acquisition of the 72-unit Bradford Pointe Apartments in Sacramento in an all-cash short sale. NBS completed a $2.48 million preferred-equity investment in connection with the purchase. Total costs after renovations to the multifamily property are estimated at $2.93 million.
TACOMA, WASH. — GVA Kidder Mathews has negotiated the $4 million sale of an almost 71,000-square-foot multifamily building located at 14417 S C Street in Tacoma. With assistance from Dobler Management’s Kathy Dobler, GVAKM’s Linn Larsen and Jim Jensen represented both the buyer, Richard Wilbur, and the sellers, Howe Investment LP and Alvah B Howe Trust.
SELLS, ARIZ. — Kraus-Anderson Construction Co. has completed the $2.5 million San Simon Elementary School renovation/upgrade project near Sells, west of Tucson. The 38,867-square-foot San Simon School serves American Indian students from kindergarten through 8th grade in the Indian Oasis-Baboquivari Unified District. Construction on the project began on December 14, 2009.
SAN DIEGO — The Vista Hill Foundation has purchased a 12,000-square-foot medical office building, located at 8910-8912 Clairemont Mesa Blvd. in San Diego, for its new main corporate office. Gina Coldani of NAI San Diego represented the buyer in the $1.95 million transaction, and Capital Growth Properties’ John Drummond and Greg Wagner represented the seller, The Dossett Group.
MONROVIA, CALIF. — Urban Housing Group has completed Paragon at Old Town, a well-positioned, mixed-use development consisting of 163 one- and two-bedroom apartment homes built over 6,000 square feet of ground-floor commercial space. Located at 700 S. Myrtle Ave. in the south end of Monrovia’s historic Old Town district and designed by KTGY Group, the property’s residents will have access to a lounge with fireplace, flat-screen television and entertaining kitchen; a 24/7 fitness studio; a billiard room; and a large, resort-style courtyard with heated elliptical swimming pool and spa.