ALAMOGORDO, N.M. — The Mumford Company represented Motel 6 and Accor Hospitality in the disposition of a Motel 6 location in Alamogordo. Chandni Ventures LLC acquired the property and will operate the hotel as a Motel 6 franchisee. Randy Lee of Mumford’s Dallas office brokered the transaction.
Western
ONTARIO, CALIF. — Trek Bicycle Corp., a global leader in bicycle design and manufacturing, has signed a lease for 207,018 square feet of space at Shea Center Ontario in Ontario. The company plans to use the space as its West Coast Distribution Center, which will store and ship bicycles and cycling products to dealers in the western third of the United States. Robert Pontello of Merit Commercial Real Estate represented the tenant; Walt Chenoweth, Frank Geraci, Patrick Wood and Juan Gutierrez of CB Richard Ellis represented the landlord.
SEATTLE — Alliance Residential Company has opened Domaine, a 91-unit luxury apartment community in Seattle. Located at 2480 and 2483 Birch Ave., the community offers Euro-style mid-rise studios, one- and two-bedroom homes in more than 30 floor plans, many with oversized patios or decks and views of Lake Union, the Cascade Mountains and downtown Seattle. The units feature floor to ceiling windows, Italian tile floors, hardwood cabinets, stainless steel appliances and stone countertops. Additionally, the community features a fitness club and a resident lounge.
SANTA MONICA, CALIF. — Richard Ringer of Marcus & Millichap represented the buyer in the acquisition of 420 California Avenue, a 20-unit apartment property in Santa Monica. Built in 1964, the property sold for $5.33 million or $344.92 per square foot. Tony Azzi, also of Marcus & Millichap, represented the seller in the transaction.
PHOENIX — Cleveland-based The NRP Group has purchased approximately 5.27 acres of land at the corner of 21st Street and Broadway Road in Phoenix for $1.37 million. The company plans to develop a 68-unit affordable housing project on the site. Construction is slated to begin in 2009 with completion scheduled for first quarter 2010. Chaz Smith, John Finnegan and Ramey Peru of Colliers International represented the buyer; Cam Stanton of CB Richard Ellis represented the seller, Chicago-based DeMuro Enterprises Inc., in the transaction.
PHOENIX — Fernwood Developments (USA) Ltd. LLC has purchased Stefan II, a 32-unit apartment community located at 15430 N. 25th St. in Phoenix. The partially completed property sold for $1.25 million. The community features three-bedroom units offering washer/dryer connections and a detached two-car garage. Mark Forrester and Chuck LaBenz of Hendricks & Partners’ Phoenix office represented the seller, Scottsdale, Ariz.-based Stefan II Lender LLC, in the transaction.
IRVINE, CALIF. — Kusha Inc. has signed a 5-year lease for a 38,400-square-foot industrial property in Irvine. Located at 1211 McGaw Ave., the property leased for $1.67 million. The tenant, an importer of Basmati rice from India to the United States, plans to use the facility to house its United States headquarters. Dick Silva of Lee & Associates represented the lessee; Phil Cohen and Matt Durkin, also of Lee & Associates, represented the lessor, RDM Properties.
HAYWARD, CALIF. — Greig Lagomarsino of Colliers International’s Oakland, Calif., represented both the seller and buyer in the acquisition of a 2.5-acre land parcel in Hayward. Located at 3485 Breakwater Ct. within Breakwater Industrial Park, the property is a portion of a larger 7.6-acre site. Watson-Setzer Real Estate Partners LLC sold the property for an undisclosed price. The buyer, San Francisco-based Sierra Equipment Co., sells specialized heavy equipment for construction, drilling energy, agriculture and machine tool industries.
SANTA CLARA, CALIF. — NorthMarq Capital’s San Francisco office has arranged a $11.08 million loan for Moonlite Shopping Center in Santa Clara. Tenants at the 171,901-square-foot center include Save Mart, OfficeMax, Rite Aid and Palo Alto Medical Group. ING USA Annuity and Life Insurance Co. provided the financing, which was based on a 5-year term with a 225-year amortization schedule. Jeffrey Weidell of NorthMarq arranged the financing.
CHEHALIS, WASH. — Providence Health & Services of Washington has completed the disposition of the former Chehalis Hospital in Chehalis. The 66,200-square-foot property sold to a Spokane, Wash., developer for $2.5 million. Evan Parker, Ted Sipila and Amy Robinson of GVA Kidder Mathews represented the seller in the transaction.