SANTA CLARITA, CALIF. — Santa Clarita Canyon Crest LLC has purchased Canyon Crest, a 158-unit multifamily property located at 23639 San Fernando Rd. in Santa Clarita. The 95-percent occupied community sold for $23 million. The property offers one-, two- and three-bedroom units ranging in size from 690 to 1,122 square feet. Amenities include a pool, two spas, a fitness center, a basketball court and subterranean parking. Jim Fisher, Craig Stevens and Mike Smith of Lee & Associates represented the buyer in the transaction.
IRVINE, CALIF. — Passionate Pet has signed a 10-year lease for a 23,598-square-foot flex space, which is located at 18871 Teller Ave. in Irvine. The lease is valued at $3.4 million. The tenant will offer a complete selection of pet-related products and pet services, including grooming, dog training, veterinary care, photography, a day camp and a boarding facility. Brian Garbutt of Lee & Associates-Irvine represented the landlord, Greenlaw Partners.
SAN FRANCISCO — Dennis Sidbury of NorthMarq Capital’s San Francisco office arranged a $5.3 million first mortgage for Yerba Buena Commons, a 257-unit multifamily complex in San Francisco. The 15-year loan has a 30-year amortization schedule and was funded by AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. The borrower was YBC Development II.
PHOENIX, ARIZ. — Phillips Edison & Co. has purchased the 170,801-square-foot Village Center retail property from a private party for an undisclosed amount. The development, located on East Cactus Road in Phoenix, is anchored by Target and shadow-anchored by REI. Lenscrafters, Subway, Great Clips and Half Price Books are also housed in the property, which is 85.36 percent occupied.
IRVINE, CALIF. — Jamboree Housing Corp. has finished developing its 71-unit Granite Court Apartment Homes in Irvine. The environmentally friendly complex is located on 1.23 acres at 2853 Kelvin Ave. Green features include low-emission finishes, a solar-energy system and recycling trash chutes. Irvine-based KTGY Group designed the affordable housing property.
SANTA ANA AND TUSTIN, CALIF. — Courageous Kauai has sold a 16,536-square-foot retail property to 17th Street LLC for $3.5 million. Located at 702 to 818 W. 17th Street in Santa Anna, the development encompasses five freestanding buildings, anchored by Pizza Hut and 7-Eleven. Mark Sigler of Voit Real Estate Services’ Irvine, Calif., office represented the seller, and Apex Properties represented 17th Street LLC. Voit has also brokered Sayara K1’s purchase of a 10,000-square-foot retail development, located on 1st Street in Tustin, from CPH SAHI for $1.2 million. Gil Marrero, Pete Beauchamp, Alan Pekarcik and Dan Vittone of the firm’s Irvine office represented the seller. Bob Pettis, also of the firm’s Irvine office, represented the buyer.
PORTLAND, ORE. — Park Place East has sold a 13-unit apartment complex to The Robert Katz and Deborah Stanley Family Trust for an undisclosed amount. The property is located at 220-244 N.E. 143rd Ave. in Portland. Bluestone & Hockley Real Estate Services’ Charles Barker represented the seller, and MentorVest Properties’ Denise Tritcak represented the buyer.
KENT, WASH. — Kimberly-Clark is consolidating and relocating its northwest regional distribution operations to East Valley Warehouse in Kent. The company has leased 516,000 square feet of industrial space at the distribution center, which is owned by AMB Properties Corp. The global health and hygiene company will occupy the space in September. Additional details of the transaction were not disclosed.
SANTA MONICA, CALIF. — La Montana Investors LLC has completed the disposition of La Montana, a 23-unit multifamily property located at 811 6th St. in Santa Monica. An undisclosed San Francisco-based buyer acquired the property for $7.55 million or more than $328,000 per unit. Built in 1972, the property offers one-, two- and three-bedroom units featuring hardwood-style flooring, fireplaces and ceramic-tiled kitchens. Vince Norris of Hendricks & Partners’ North Los Angeles office brokered the transaction.
PHOENIX — Phoenix-based Medical Monitoring Services has purchased a 23,455-square-foot Class A office building, which is located at 1606 W. Whispering Wind Dr. in Phoenix, for $3.3 million. The two-story office building is situated on approximately 1.15 acres in the Deer Valley submarket. The property features 19,455 square feet of Class A office space and a 4,000-square-foot, fully furnished warehouse with three roll-up doors, seated flooring and full air conditioning. The buyer plans to occupy a portion of the building. Todd Noel, Keith Lambeth, Charles Miscio and Michael Crystal of Colliers’ Phoenix office represented the buyer; Mike Ciosek, Eric Bell and Bob Lundstedt of Colliers International’s Scottsdale, Ariz., office represented the seller, Phoenix-based Happy Valley Office LLC, in the transaction.