SAN DIEGO — Schlosser Properties has acquired a CVS/pharmacy property, which is located at 9225 Twin Trails Dr. in San Diego’s Rancho Peñasquitos area. Twin Trails LLC sold the 16,793-square-foot property for $6.2 million. Tom Schmidt and Geoff Parrish of Colliers Parish represented the buyer; Chuck Klein and Kevin Held of Grubb & Ellis|BRE Commercial represented the seller in the transaction.
HONOLULU — The Hawai‘i Community Development Authority has approved a proposed more than 20-year plan by Victoria Ward Ltd. to develop a 60-acre mixed-use project in the heart of Honolulu. The oceanfront neighborhood is planned to feature as many as 4,300 residential units; 5 million square feet of retail, restaurant and entertainment space; 4 million square feet of office and commercial space; 700,000 square feet of industrial space; and 14 acres of open space, parks and public facilities. Victoria Ward Ltd. is an affiliate of General Growth Partners Inc., a U.S.-based publicly traded REIT.
COLORADO — Fuller Real Estate recently completed three transactions totaling $13.55 million in Colorado. In the first transaction, KCBC LLC completed the disposition of a 50,724-square-foot, three-building office complex, which is located at 10394 and 10499-10579 W. Chatfield Ave. in Littleton, Colo. The state of Colorado purchased the property for $4.9 million. John Becker and Mike Haley of Fuller Real Estate represented the seller. In the second transaction, B&J Properties Limited LLC acquired a 58,750-square-foot office building, which is located at 13111 E. Briarwood Ave. in Centennial, Colo., from Thirteen One Eleven Corp. for $4.5 million. Ron Allum of Fuller represented the buyer. In the final transaction, Mellisuga Inc. sold an 115,000-square-foot industrial building, which is located at 2201 S. Wabash in Denver, to Grande Investment LLC for $4.15 million.
SAN DIEGO — RRN Mesa Rim LLC has purchased a 27,512-square-foot office building, which is located at 10110 Mesa Rim Rd. in San Diego, for $5 million. The property will be occupied by Mesa Rim Climbing Center, which plans to raise the roof by approximately 40 feet to construct a 40-foot indoor rock-climbing wall. The facility is slated to open in third quarter 2009. Bryce Aberg and Brant Aberg of Grubb & Ellis|BRE Commercial represented the buyer. The seller was LBA/MET Partners I-Company IV LLC.
NORTH HOLLYWOOD, CALIF. — Los Angeles-based IPX has acquired Otsego Villas, a 40-unit apartment community located at 11109 Otsego St. in North Hollywood. Beverly Hills, Calif.-based Otsego Villas LLC sold the property for $7.7 million. Melinda Russell of Hendricks & Partners’ Los Angeles office represented both parties in the transaction.
OCEANSIDE, CALIF. — In an all-cash transaction, Pelican Cove Business Holdings LLC has acquired Pelican Cove Apartments in Oceanside for $4.6 million. The 24-unit property, which is located at 707-09 Eaton St., offers mostly two-bedroom units with garages, lagoon views, and a pool, paddle tennis and patio area. Will Creagan of Southwest Equity Partners represented the buyer; Ray Adams of Grubb & Ellis|BRE Commercial represented the seller, Glenn Goldman Family Trust, in the transaction.
BROOMFIELD, COLO. — Franklin Street Properties and Prime West have broken ground on Central Park Tower, an 11-story, 305,000-square-foot office building located within Interlocken Business Park in the Broomfield area. Designed by Gensler, the building has received a pre-certified LEED Gold rating and features outdoor and indoor dining areas, formal and informal galleries and high-end finishes. Additionally, the property features a fitness center, multiple shared collaboration areas, a café and secure underground parking. The Weitz Company is serving as general contractor. Completion is slated for 2010.
WASHINGTON AND OREGON — GVA Kidder Mathews (GVAKM) has completed two transactions totaling $13.35 million in Oregon and Washington. In the first transaction, Northwest Professional Center LLC acquired a 31,569-square-foot office building, which is located at 15211 NE 20th St. in Bellevue, Wash., for $9.75 million. Gary Guenther and Lauren Powell of GVAKM represented the buyer; John Black and Jason Furr of Broderick Group represented the seller, Michael R. Mastro, in the transaction. In the second transaction, Charles Brazer and Jordan Carter of GVAKM represented King’s Landing LLC and Kasch, Floyd & Georgia in the purchase of a 54,700-square-foot multifamily property. Located at 1420 NW 20th St. in Corvallis, Ore., the property sold for $3.6 million. Ira Virden of Marcus & Millichap represented the seller, Charles Stevens, in the transaction.
SAN DIEGO — Johnson & Jennings General Contracting has completed the build-out of the School of Architecture at Woodbury University, which is located at 2212 Main St. in the Logan Heights community of San Diego. The 27,000-square-foot improvements included construction of two classrooms, a library, three large studio spaces, a model-making shop, a computer lab and faculty offices. Rinehart Herbst provided architectural services for the project; IR2 Interior Resource Inc. provided interior space consultation.
CONCORD, CALIF. — The city of Concord has purchased an approximately 10,600-square-foot office building for $2 million. The property is located at 1899 Clayton Rd. in the city’s Redevelopment District. Eric Erickson, Trigger Reital and Edward Del Beccaro of Colliers International represented the undisclosed seller in the transaction.