SAN DIEGO — Grubb & Ellis|BRE Commercial has facilitated Grant Thornton LLP’s $4.2 million office lease in Executive Center Del Mar, located at 12220 El Camino Real in the Del Mar Heights submarket of San Diego. The accounting and consulting firm, represented by Cushman & Wakefield’s Mike Macie, signed a 10-year lease for a 10,544-square-foot suite in the building. Grubb & Ellis’ Joe Anderson, Dave Odmark and Rick Reeder represented the lessor, Cognac Del Mar Owner II LLC.
Western
PETALUMA, CALIF. — In a joint-venture partnership with Marina Office Park Associates, Basin Street Properties has acquired the 116,000-square-foot, three-building Petaluma Marina Business Center in Petaluma. The Class A office complex in Sonoma County changed hands for an undisclosed amount. Located adjacent to the Petaluma River with access to Highway 101, Petaluma Marina Business Center features suites ranging from 400 to 6,000 square feet.
BELLEVUE, WASH. — Marcus & Millichap has negotiated the $4.98 million sale of the 69-unit Meydenbauer Inn Apartments located at 211 112th Ave. NE in Bellevue. Built in 2009, the complex consists of 41 studio units, 17 one-bedroom/one-bathroom units, eight one-bedroom/one-bathroom plus loft units and two two-bedroom/one-bathroom units and includes a two-level, subterranean, secured parking garage and a small retail space. Marcus & Millichap’s Dan Swanson, Blake Rodgers, Matthew Bohner and Jacob Steele represented the buyer, a financial institution, in the transaction.
SAN FRANCISCO — NAI BT Commercial has represented the buyer in the $3.6 million acquisition of a 27,000-square-foot warehouse building located at 460 Townsend St. in the SOMA district of San Francisco. NAI BT Commercial’s Tom Christian represented the buyer, who plans to teach sculpture classes in the building. The seller was 1238 Sutter Street LLC.
SANTA MONICA, CALIF. — Houston-based The Lionstone Group has purchased the 463,000-square-foot Lantana Entertainment Media Campus in Santa Monica from Maguire Properties. The landmark, four-building studio production and creative office property is currently home to IMAX Corporation, NBC Universal Television, Dick Clark Productions and Revolution Studios. Lee & AssociatesWest Los Angeles assisted Lionstone, founded by Tom Bacon, in the transaction; Lee’s Jim Jacobsen will oversee management of the Lantana campus.
PORTLAND, ORE. — Behringer Harvard has acquired Cyan/PDX (Cyan), a 16-story, 352-unit residential tower located at 1720 SW 4th Ave. in Portland’s central business district. The purchase was made through a joint venture between Behringer Harvard Multifamily REIT I Inc. and PGGM Private Real Estate Fund. Built in 2009 to achieve LEED certification, Cyan offers one-, two- and three-bedroom apartment homes averaging 636 square feet and includes 5,700 square feet of on-site retail space.
ALAMEDA, CALIF. — Marcus & Millichap has brokered the nearly $1.5 million sale of a 10-unit apartment property located at 2236 San Jose Ave. in Alameda. Constructed in 1965, the property consists of three one-bedroom/one-bath units and seven two-bedroom/one-bath units. Marcus & Millichap’s Douglas Himan and John Joines represented the seller, a partnership, in the transaction.
PHOENIX — Grubb & Ellis|BRE Commercial has negotiated Financial Trading and Transacting Corp.’s $38.175 million acquisition of three Phoenix retail centers totaling 362,965 square feet. Represented by Grubb & Ellis’ Ryan Schubert and Michael Hackett, Financial Trading purchased Village Fair North, a 201,800-square-foot center located on the northeast corner of Tatum Boulevard and Cactus Road, for $20.6 million; Village Square II, a 138,788-square-foot center located on the southwest corner of Tatum and Cactus, for $14.5 million; and the 22,377-square-foot Village Square I, which is home to Party City and T.J. Maxx, for $3.075 million. The three centers were a combined 95 percent leased at the time of sale.
RESEDA, CALIF. — Colliers International has handled the $9.25 million notes acquisition of a 51,729-square-foot multifamily property located at 18557 Saticoy St. in Reseda. The 53-unit apartment complex was built in 2008. Colliers International’s Han Widjaja represented the private-investor buyer, Alon Global Saticoy LLC; the seller, China Trust Bank, was unrepresented. Upon completion of the notes sale, Widjaja directed a deed in lieu of foreclosure, which transferred the deed from the borrower to the buyer.
SAN DIEGO — Cushman & Wakefield has presided over Private Asset Management’s $3.4 million purchase of an 18,000-square-foot office building located at 5348 Carroll Canyon Rd. in San Diego. Located in the Sorrento Mesa submarket with easy access to the 805 freeway, the building is currently undergoing renovations. Cushman & Wakefield’s Deborah Hunkeler and Jay Arnett represented Private Asset Management, and Jed Stirnkorb of CB Richard Ellis represented the seller, Laboratory Building Designers. The new owner, a wealth management company, plans to occupy half of the building.