RESEDA, CALIF. — Todd Schwartz of Hanes Investment Realty represented the undisclosed buyer in the acquisition of Sherman Way Apartments. Located at 19505 Sherman Way in Reseda, the 15-unit property sold for $1.62 million. Warren Berzack of Investment Real Estate Associates represented the seller, MG Ventures, in the transaction.
PORTLAND, ORE. — Ken Griggs and Paddy Ryan of NBS Financial Services has arranged a $5.5 million loan for the construction of a single-tenant office building in Portland. Located on NE Martin Luther King Jr. Boulevard, the 42,000-square-foot property is scheduled for completion at the end of the year. Washington Trust Bank provided the financing.
CARSON, CALIF. — Brentwood, Calif.-based Vintage Real Estate LLC, a wholly owned division of Vintage Capital Group, has purchased SouthBay Pavilion, a 1.1 million-square-foot retail center located on Avalon Boulevard in Carson. HREG sold the property for $50 million. The property is anchored by Ikea, Target, Sears and JC Penney. Additional stores and restaurants include Old Navy, The Children’s Place, Foot Action, Panera Bread, Panda Express, Sansai Grill, Five Guys, Wingstop and Jamba Juice.
REDONDO BEACH, CALIF. — The Redondo Beach Unified School District and Barnhart Inc. have broken ground on the $33.75 million construction and modernization of Redondo Union High School in Redondo Beach. The project includes a new gymnasium and aquatic center, a new artificial surface football field and tennis courts, a new student services building that will house administration, counselors, attendance, registrar, nurse and student government, and modernization of the school auditorium and band building. Completion is scheduled for between January and August of 2010. The project is being funded by Bond Measure C, a $145 million general obligation bond measure that was passed in February 2008. Irvine, Calif.-based MVE Institutional provided architectural services for the project.
ISSAQUAH, WASH. — Swedish Health Services has acquired 13.38 acres of medical office land for $22 million. The acquisition includes blocks 29-31 and blocks 33-35 in Issaquah. The seller was Grand-Glacier LLC. Stu Ford of GVA Kidder Mathews represented the buyer in the transaction.
SANTA PAULA, CALIF. — Thomas Aquinas College has completed the development of its Our Lady of the Most Holy Trinity Chapel, which is located on the school’s campus in Santa Paula. Designed by Duncan G. Stroik Architecture, the $23 million, 15,000-square-foot chapel features the Spanish Mission style while also incorporating traditional architectural elements from the Catholic Church. Ventura, Calif.-based Rasmussen & Associates served as architect of record; HMH Construction served as general contractor for the project.
HAYWARD, CALIF. — Wig America has purchased two 36,000-square-foot distribution buildings in Hayward. Located at 27317 and 27279 Industrial Blvd., the properties sold for $5.5 million. This transaction marks the largest owner/user sale to date this year in Hayward. Jesse Lucas of Lee & Associates Commercial Real Estate’s Oakland, Calif., office represented the buyer; Bt Commercial represented the seller, LRF Properties, in the transaction.
RIVERSIDE, CALIF. — Los Angeles-based Sunnycreek LLC has acquired Copper Lantern Center, a 34,644-square-foot retail strip center located at 8151-8201 Arlington Ave. in Riverside. Orange, Calif.-based Copper Lantern Holdings sold the multi-tenant property for $3.8 million. The 19-tenant property is anchored by 7-Eleven. Jeremy McChesney of Hanley Investment Group represented both parties in the transaction.
ESCONDIDO, CALIF. — The Carlsbad, Calif., office of Lee & Associates-North San Diego County has brokered the sales of two industrial properties in Escondido for a combined consideration of approximately $3.22 million. In the first transaction, Isaac Little and Randy Dalby of Lee & Associates represented The Gary D Vest Revocable Trust in the disposition of a 7,020-square-foot industrial building, which is located at 1134 Industrial Ave. Joe Crotty of Coldwell Banker Commercial represented the buyer, Bennet Glass, in the $1.02 million acquisition. In the second transaction, 1011 Andreasen LLC purchased an 18,830-square-foot industrial building located at 501 S. Andreasen Dr. for $2.2 million. Adam Robinson, Tom Blackmore and Tim Arguello of Lee & Associates represented the buyer and the seller, Paul Ostrowiecki, in the transaction.
CHULA VISTA, CALIF. — Newmark Realty Capital has arranged $4.3 million in permanent financing for South City Business Center in Chula Vista. Situated in San Diego County, the 168,000-square-foot multi-tenant industrial park comprises six buildings. Thomas Dudley of Newmark Realty arranged the financing for the 10-year loan. Additional terms of the loan were not disclosed.