Western

IHG TO OPEN FLAGSHIP HOTEL INDIGO

by admin January 30, 2009

SAN DIEGO — InterContinental Hotels Group (IHG) is developing a Hotel Indigo in San Diego’s historic Gaslamp Quarter. The flagship hotel, only the second California location, will feature 210 rooms, including five suites, a rooftop terrace with a reflection pool, fire pits, soft seating, a Phitness Studio with cardio equipment and free weights, Phi, a casual gourmet restaurant, and views of the San Diego skyline and Petco Park. Slated to open this summer, the property will be managed by The Hotel Management Group, IHG’s Americas operations division.

January 30, 2009

PROLOGIS LEASES 484,000 SQUARE FEET AT KAISER COMMERCE CENTER

by admin January 30, 2009

FONTANA, CALIF. — ProLogis has leased 484,000 square feet of space at Kaiser Commerce Center in Fontana to an undisclosed third-party logistics provider. The 5.9 million-square-foot Kaiser Commerce Center is now fully occupied. A 265,000-square-foot portion of the lease will be located in a recently completed distribution building at the center. ProLogis completed a building extension in August 2008; the facility was originally constructed in 2002. Jim Koenig and Dave Consani from CB Richard Ellis represented ProLogis; Tim O’Rourke and Mike Fowler of Jones Lang LaSalle represented the tenant in the transaction.

January 30, 2009

Office Western

15,950-SQUARE-FOOT OFFICE SPACE FETCHES $2.7 MILLION

by admin January 30, 2009

MESA, ARIZ. — Troilo Family Trust has acquired a 15,950-square-foot office property, which is located within Odyssey Professional Park in Mesa. Odyssey Commercial sold the property for $2.7 million. Sarah Weddle of GPE Commercial Advisors represented the seller in the transaction.

January 30, 2009

Industrial Western

IHOI INC. SIGNS 155,805-SQUARE-FOOT INDUSTRIAL LEASE

by admin January 30, 2009

IRVINE, CALIF. — IHOI Inc., an instant noodle and soup-base food manufacturer, has signed a 3-year lease for a 155,805-square-foot industrial building, which is located at 14524 Myford Rd. in Irvine. The tenant plans to use the facility to produce instant noodles and soup bases, and distribute the products to its local clients. Stephen Schloemer and James Min of Colliers International represented the lessee and the lessor, L&C USA, an affiliate of South Korea-based Hanwha, in the transaction.

January 30, 2009

Multifamily Western

ALLIANCE RESIDENTIAL OPENS 226-UNIT RESIDENTIAL PROPERTY

by admin January 29, 2009

DENVER — Alliance Residential Co. has opened TwentyOne 01 on Market, a Broadstone Community in downtown Denver. Located at the corner of 21st and Market streets in the Ballpark Neighborhood, the property features 226 residential units and 6,600 square feet of retail space. The rehabilitated 60,000-square-foot former Piggly Wiggly warehouse offers 52 loft units and the new eight-story building offers 174 loft units, below-grade parking and amenities, including a clubroom, a sports lounge, a 24-hour athletic center, a 24-hour business center, 24-hour resident-controlled video security access, heated covered parking and a swimming pool. Final delivery is slated for March.

January 29, 2009

Office Western

TNP VULTURE FUND VIII SELLS 45 PERCENT INTEREST IN 11-STORY OFFICE BUILDING

by admin January 29, 2009

LAS VEGAS — TNP Vulture Fund VIII has sold a 45 percent interest in an 11-story office building and adjacent four-story parking structure to TNP/SLI Green Building Fund for an undisclosed price. Located at 302 E. Carson in Las Vegas, the property was originally purchased in 2008 from Barden Entertainment Group. The owners plan to renovate the vintage 1965 building to meet LEED Silver certification. Partners in the project include the co-owners and Shangri-La Construction. Completion is scheduled for mid-2009.

January 29, 2009

Hospitality Western

SUMMIT BUILDERS COMPLETES 192-UNIT HILTON GARDEN INN

by admin January 29, 2009

PHOENIX — Phoenix-based Summit Builders has completed the design/build conversion of an office building into Hilton Garden Inn, which is located on Van Buren St. in Phoenix. The 10-story, 121,000-square-foot hotel features 192 rooms, a swimming pool, a kitchen, a restaurant and lounge, a laundry facility, a fitness center and a business center. Additionally, all mechanical, plumbing and electrical systems were replaced. Windsor Hotels LLC owns the property. Phoenix-based Orcutt Winslow provided design services for the project.

January 29, 2009

Industrial Western

BERGEN SHIPPERS LEASES 90,000 SQUARE FEET

by admin January 29, 2009

COMMERCE, CALIF. — N.J.-based Bergen Shippers, a national logistic service provider to the apparel industry, has signed a 5-year lease for approximately 90,000 square feet of space in Commerce. The property is located at 6000 Rickenbacker Rd. The transaction is an expansion with landlord RREEF from an original 2-year lease of 30,000 square feet of space. Brett Dedeaux and Mark Repstad of Binswanger/Realty Advisory Group represented Bergen in the transaction.

January 29, 2009

Multifamily Western

KEYBANK REAL ESTATE CAPITAL CLOSES $8.9 MILLION IN LOANS

by admin January 29, 2009

FRESNO AND EL CAJON, CALIF. — KeyBank Real Estate Capital has closed two loans totaling $8.9 million for two multifamily properties in California. In the first transaction, KeyBank provided a $4.9 million Fannie Mae supplemental loan to Provence at the Dominion LLC for Le Provence, a 268-unit condominium complex in Fresno. Additionally, KeyBank provided a $4 million Fannie Mae assumption and supplemental loan to R&V Management Corp. for Coral Gardens Apartments, a 200-unit garden-style apartment complex in El Cajon.

January 29, 2009

Industrial Western

VOUGHT AIRCRAFT INDUSTRIES SIGNS 1.39 MILLION-SQUARE-FOOT LEASE

by admin January 28, 2009

HAWTHORNE, CALIF. — Vought Aircraft Industries Inc. has signed a 5-year extension on its 1.39 million-square-foot lease at Kearny Real Estate Company’s Century Business Center in Hawthorne. Kearny acquired the center, which formerly served as a manufacturing facility for Vought, in 2005 with Vought leasing back 1.39 million square feet. The Dallas-based company manufactures commercial and military aero structures.

January 28, 2009

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