CAMPBELL, CALIF. — SKP Properties has acquired Angela Court Apartments, a 17-unit multifamily community located at 2242 Angela Ct. in Campbell, for $2 million or $118,235 per unit. The property consists of a mix of 15 junior one-bedroom/one-bath units, one one-bedroom/one-bath unit and one two-bedroom/one-bath unit. Jamie D’Alessandro and Brian Henry of NAI BT Commercial’s Palo Alto, Calif., office represented the seller, Pacific Coast Residences One, in the transaction.
CULVER CITY, CALIF. — ICDC College has purchased a 24,086-square-foot office building, which is located at 5995 S. Sepulveda Blvd. in Culver City, for $7.9 million or $328 per square foot. Built in 1973 and renovated in 2004-05, the two-story property features a brick façade with subterranean parking. Andrew Jennison and Travis Landrum of Madison Partners represented the buyer and the seller, 5995 S. Sepulveda LLC, in the transaction.
PICO RIVERA AND MIRA LOMA, CALIF. — The Orange County, Calif., office of Q10|Dwyer-Curlett has arranged two transactions in Pico Rivera and Mira Loma. In the first transaction, Tom Kenny and Josh Boehling of Dwyer-Curlett arranged the $18.65 million sale of a 160,154-square-foot, single-tenant warehouse/distribution facility in Pico Rivera to The Guardian Life Insurance Company. In the second transaction, Kenny arranged $12 million in permanent financing on a 10-building industrial park in Mira Loma. Funded by Allianz of America Inc., the 10-year loan carries a 7.25 percent interest rate.
CHULA VISTA, CALIF., AND WILMINGTON, DEL. — Newmark Realty Capital has secured $21.4 million in financing for two multifamily communities in California and Delaware. The California asset is Rolling Hills Gardens Apartments, a 116-unit senior apartment complex located in the master-planned community of Rolling Hills Ranch in Chula Vista. The Delaware property is the 447-unit Village at Fox Point in Wilmington. Both properties were previously financed by Peter Welsh of Newmark Realty Capital with a correspondent life company. The new financing was placed with FNMA through Newmark’s correspondent Walker & Dunlop LLC.
SAN FRANCISCO — 2225 Jerrold LLC has purchased a 91,300-square-foot warehouse/distribution property in San Francisco. Located at 2225 Jerrold Ave., the property sold for approximately $11 million. The building was previously occupied by DBI Builders, who are relocating to South San Francisco. Scott Mason of NAI BT Commercial represented the undisclosed seller in the transaction.
VACAVILLE, CALIF. — Westrust has acquired the assets of Nut Tree Associates, the master planner of Nut Tree and Nut Tree Family Park in Vacaville. Westrust is currently developing the 30-acre, 333,000-square-foot Nut Tree Retail hybrid lifestyle/community center that encompasses the legendary Nut Tree road stop. Westrust plans to relocate key elements of Family Park, including the Nut Tree train, carousel and historic ice cream structure, into the historic Hackberry tree area of the retail center. Construction of Nut Tree Plaza, the new amusement and entertainment venue, commenced in June with completion scheduled for early August. Nut Tree Associates currently owns, or has options to purchase, the remaining approximately 36 acres of the original 77-acre master planned project.
AZUSA, CALIF. — Hodgdon-Miank Construction, serving as design-build contractor, has broken ground for the $4 million remodel of the 30,000-square-foot Carl E. Wynn Academic Center at Azusa Pacific University in Azusa. The project includes the gutting and renovation of the former Carl E. Wynn Science Center building on the campus’ east side. The remodeled center will be renamed Carl E. Wynn Academic Center. The new center will feature 11 classrooms, 30 administrative and staff offices, a 1,800-square-foot lecture hall, a conference room, a small library, a computer lab and workrooms, two focus rooms with a viewing area and a presentation room for new and prospective students and parents. Irvine, Calif.-based GAA is providing architectural services for the project. The new center is scheduled to open for classes in January 2010.
PUYALLUP, ORE. — IPG Properties has acquired a 12,000-square-foot industrial property, which is located at 11409 58th Ave. E. in Puyallup. Janin II LLC sold the property for $1.1 million. Bob Naber and Laura Fox of GVA Kidder Mathews represented both parties in the transaction.
SAN DIEGO — A private family trust has purchased Convoy – Ronson Plaza and Industrial Park, which is located at 7854-7924 Ronson Rd. in San Diego, for $12.25 million. Built in 1973, the 104,213-square-foot property features two retail buildings totaling 29,605 square feet and seven single-story, multi-tenant industrial buildings totaling 74,608 square feet. Joe Bonin, Pay Geary and Doug Ritterman of ECP Commercial represented the buyer; Nick Psyllos, Paul Komadina, Brad Jones, Bill Dolan and Doug Works of CB Richard Ellis represented the seller, KM Development-72, in the transaction.
TIGARD, ORE. — Tualatin Valley Fire & Rescue has acquired Dartmouth Square, an office building located at 11945 SW 70th in Tigard, for $8.2 million. The three-story Class A property offers 38,000 square feet of office space. Chris Johnson, MaryKay West, John Medak and Jennifer Medak of NAI Norris, Beggs & Simpson represented the seller, Dartmouth Square LLC, in the transaction.