ONTARIO, CALIF. — DAUM Commercial Real Estate Services has handled the $4.3 million disposition of an 85,000-square-foot industrial building located at 2090 S. Baker Avenue in Ontario. DAUM’s Gus Andros represented the sellers, TC Logistics and DF Services, in the transaction, and Jeff Chiao of RE/MAX Realty 100 represented the undisclosed buyer.
Western
PHOENIX — Binswanger has negotiated the $2.6 million sale of a 38,160-square-foot industrial building located at 3804 E. Watkins Street in Phoenix. Doug Heller of Philadelphia-based Binswanger represented Dow Chemical Co. in its disposition of the property to the Mission Woods, Kan.-based buyer, Layne Christensen Co.
OAKLAND, CALIF. — The City of Oakland is close to securing a development deal with Kroger to open two 72,000-square-foot grocery stores in underserved areas of east Oakland. For the site at 10700 MacArthur Blvd. in Foothill Square Shopping Center, Foods Co. has signed a letter of intent with Jay-Phares Corp., the property’s developer, and site plans have been submitted to the city for review. At 66th Avenue and San Leandro Street, a former cannery owned by the Oakland Redevelopment Agency would be demolished during the next several months prior to property transfer to Foods Co. Both Kroger stores are expected to open by the end of 2012.
ARVADA, COLO. — Pinnacle Real Estate Advisors has handled the $3.65 million sale of the 58-unit Village West Apartments located at 12155 W. 58th Place in Arvada. Constructed in 1972, the multifamily property features 48 two-bedroom/two-bath units and 10 one-bedroom/one-bath units. Pinnacle’s Mike Phillips and Josh Newell represented the buyer and seller, respectively.
SAN DIEGO — H. Antis Real Estate Co. has brokered a nearly $1.53 million industrial lease renewal for 24,244 square feet at 5648 Copley Dr. in San Diego. H. Hank Antis represented SCP Distribution, the lessee, in the 60-month deal with M. House Family Limited Partnership, the landlord, which represented itself.
PHOENIX METRO — Sunbelt Holdings has acquired from SunCor Development Co. more than 1,900 acres of commercial and industrial land, a 440,000-square-foot industrial building, a 2,500-space parking garage, an office/retail building and office condominiums, as well as two 18-hole golf courses, in Arizona’s Valley of the Sun. The independent purchases include commercial land at Hayden Ferry Lakeside in Tempe; commercial and industrial land at Palm Valley in Goodyear, Avondale and Litchfield Park; Sanctuary Golf Course in Scottsdale and SunRidge Canyon Golf Course in Fountain Hills. Scottsdale-based Sunbelt Holdings began managing the properties on July 15.
SAN LUIS OBISPO, CALIF. — With an approximately 10-acre land sale, Lee & Associates Central Coast has secured the main anchor tenant, Target, for the 191,025-square-foot Prefumo Creek Commons power center located near Hwy. 101 in San Luis Obispo. Target is now building a 140,000-square-foot store on location, while the local Madonna family builds out the balance of the shopping center. Lee & Associates’ Clarice Clarke and Stephen Leider represented the property owner in the land sale to Target, which anticipates opening the new store in spring/summer 2011. The under-construction Prefumo Creek Commons is situated at the intersection of Los Osos Valley Road and Froom Ranch Way directly across from the Irish Hills Plaza shopping center.
SEATTLE — Vulcan Real Estate has completed the second phase of Amazon.com’s corporate headquarters in Seattle’s South Lake Union neighborhood. Located on the east side of Boren Avenue N. between Mercer and Republican streets, the new five-story building features 158,000 square feet of office space and 14,000 square feet of street-level retail space. LMN Architects designed the development for LEED Gold certification; Sellen Construction was the contractor.
CORONA, CALIF. — Cypress Equities / SRS Real Estate Partners Managed Services has been designated as property manager for The Promenade Shops at Dos Lagos, a 350,000-square-foot retail lifestyle center located in Corona. The property manager’s turnaround plan includes creating user-friendly public spaces where the community can gather together and relax; providing a variety of everyday retailers, services, unique shops and restaurants to complement the current mix of national and regional fashion and entertainment chains at the center; introducing a new movie theatre operator, Phoenix Big Cinemas, that will deliver top movie selections and state-of-the-art upgrades to the center’s 15-screen theatre; and expanding on the center’s community program of events that includes promotions, activities and everyday entertainment.
MARICOPA, ARIZ. — The PENTA Building Group has broken ground for the $20 million expansion of the Harrah’s Ak-Chin Casino Resort, a 148-room property located 39 miles south of Phoenix in Maricopa. Scheduled for completion in July 2011, the expansion will include construction of a five-story tower, adding 152 additional guest rooms, a sculpture and cactus garden, and new VIP Suites. Harrah’s Ak-Chin Casino Resort is owned by the Ak-Chin Indian Community and managed by Harrah’s.