PLEASANT GROVE, UTAH — Marcus & Millichap has brokered the sale of Blue Ribbon Storage, a 475-unit self-storage facility located in Pleasant Grove. Marcus & Millichap’s Jason Smith represented the local buyer, Blue Ribbon Storage Solutions LLC.
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LAKEWOOD, COLO. — Seavest Inc. and minority partner Aardex LLC have announced the development of two medical office buildings on the new campus of St. Anthony Hospital in Lakewood. Starting construction in first quarter 2010, the first building will be a four-story, 100,000-square-foot facility, and the second will be either five or six stories and be between 125,000 and 150,000 square feet. Both facilities are expected to achieve LEED Platinum certification.
POMONA, CALIF. — Los Angeles-based developer Overton Moore Properties (OMP) has sold a 95,604-square-foot industrial building, located at 389 Humane Way within OMP Empire Gateway Business Center in Pomona. The building is the third facility sold this year at the developer’s four-building, 246,000-square-foot center, which was completed in 2008. Cushman & Wakefield’s Phil Lombardo and Ty Newland represented the seller in the transaction, and the buyer, Roxy Realty Investment LLC, was represented by Lombardo, Newland and their colleague Stu Milligan.
LOS ANGELES — McCarthy Building Cos. has completed a $26.7 million parking structure at East Los Angeles College that provides space for 1,881 cars across six above-grade levels. Two pedestrian bridges connect the 553,725-square-foot structure, designed by International Parking Design, to raised walkways, one on the east side at the second level and the other on the third level of the north side.
MILLBRAE, CALIF. — Marcus & Millichap has brokered the $33.8 million sale of Waterstone Millbrae, a 136-unit multifamily property located 15 miles south of San Francisco in Millbrae. Located at 509 Poplar Ave., approximately 1 mile from the Millbrae Caltrain/BART (Bay Area Rapid Transit) station, Waterstone Millbrae was built in 1971 and was recently remodeled. The property features one- and two-bedroom floor plans averaging 841 square feet and includes amenities such as a swimming pool and spa, a cardio-fitness center and a clubhouse. Marcus & Millichap’s Stanford Jones, Sal Saglimbeni and Phil Saglimbeni represented the seller, Pacific Property Company. The buyer was a private party.
WOODLAND HILLS, CALIF. — San Francisco-based The Swig Company LLC and an institutional real estate investment fund managed by Capmark Investments LP have teamed up to acquire 250-unit The Arbors at Warner Center multifamily community, located in the Warner Center area of Woodland Hills, for $33 million. Investors Property Services will handle the day-to-day property management of The Arbors.
GREENWOOD VILLAGE, COLO. — Pinnacle Real Estate Advisors has represented both parties in the $2.5 million sale of a net-leased Romano’s Macaroni Grill, located at 7979 E. Arapahoe Rd. in Greenwood Village. Rob Edwards, Tom Ethington and Justin Krieger of The Pinnacle Retail Group represented the out-of-state seller Cardinal Capital, and the group’s Russ Agnew represented the local buyer Bowaut Inc.
LOS ANGELES — Grubb & Ellis has represented Chinatrust Bank USA in the sale of The Flat, a 206-unit REO apartment conversion that the bank took ownership of in September. Located at 750 S. Garland Ave. in Los Angeles, the property was sold to SA Properties Holding LLC in an all-cash transaction. Grubb & Ellis’ Phillip Sample and Chris Cooney represented the buyer.
PHOENIX — Grubb & Ellis|BRE Commercial LLC has presided over Security Mortgage’s $1.8 million sale of a Class B office building, located at 3724 N. 3rd St. in Phoenix, to C&C Realty Holdings. The Burbank, Calif.-based buyer, operating under the name BestIT, will occupy approximately 50 percent of the 19,259-square-foot building. Grubb & Ellis’ Bob Buckley, Tracy Cartledge and Steve Lindley represented the seller, and Joel Gunning of Arizona Commercial Properties represented the buyer.
MEDFORD, ORE. — Marcus & Millichap has handled the $1.05 million sale of the 6,800-square-foot Medford Medical Office, located at 3162 State St. in Medford. Marcus & Millichap’s Matt Williams and Steven Bunge brokered the transaction on behalf of the seller, a financial institution, and the buyer, a limited liability company.