TRACY, CALIF. — US Industrial REIT III, an affiliate of USAA Real Estate Company, has purchased a 657,600-square-foot Class A bulk distribution facility in Tracy. Home Depot USA Inc. currently occupies the facility on a 15-year lease. The facility, a rapid deployment center, features a tri-load design and more than 400 secured and lighted trailer positions. Additional details regarding the transaction were not disclosed.
CHATSWORTH, CALIF. — Chase Nordhoff LLC has completed the disposition of an 18,151-square-foot industrial building in Chatsworth. Located at 21717 Nordhoff St., the property sold to an undisclosed buyer for $2.92 million. Michael LaRocque of DAUM Commercial Real Estate Services represented the seller; Bruce Simpson of Delphi Business Properties represented the buyer in the transaction.
TEMPE, ARIZ. — Coyote Portable Storage LLC, a franchisee of the PODS (Portable On Demand Storage) concept, has leased 45,220 square feet of space at 860 W. Carver Rd. in Tempe. The company plans to relocate to the new facility. Aric Adams of Cushman & Wakefield represented the tenant; Pat Harlan, Steve Sayre, Darren Tappen and Jim Wilson of Cushman & Wakefield represented the landlord, Des Moines, Iowa-based Principal Global Investors, in the transaction.
BOULDER, COLO. — MGL Partners has completed the closing and funding of a $41 million construction loan for The Carillon at Boulder Creek, an independent living project for seniors in Boulder. The nine-story property offers 117 units. The project is slated for completion in summer 2010. One Eighty LLC, a privately held senior-housing operator, is operating the property. The loan has a 40-year term and a 40-year amortization schedule at an interest rate of 6.35 percent. The loan is part of the Federal Housing Administration (FHA) 232 loan program and was originated by Amerisphere Financial and purchased by Evanston Financial.
LAGUNA HILLS AND ANAHEIM, CALIF. — CB Richard Ellis has brokered two transactions totaling $2.38 million in Orange County. In the first transaction, Justin Hill and Kevin Hill of CBRE’s Anaheim office represented YG Ventures LLC in the sale of a 3,000-square-foot freestanding building. Located at 27051 Moulton Parkway in Laguna Hills, the property sold to a local dentist for $1.28 million. In Anaheim, the Holy Apostolic Catholic Church of the East purchased a 4,360-square-foot pre-school facility located at 2510 W. Orange Ave. Justin Hill and Ed Matevosian of CBRE’s Los Angeles North office represented the seller, Hatch Investments, in the transaction.
CHULA VISTA, CALIF. — Wells Fargo & Co. has provided an $8 million loan to Wakeland Housing & Development Corp. for the construction of Los Vecinos Apartments in Chula Vista. The 42-unit affordable housing project is expected to receive LEED Platinum certification. Rodriguez and Associates designed the project, which was constructed by Wermers Construction. Sally Lang of Wells Fargo’s community lending and investment group secured the transaction.
LONG BEACH, CALIF. — Bret King and Kirk Garabedian of Marcus & Millichap’s Long Beach office represented the undisclosed seller in the disposition of Bixby Center, a 20,740-square-foot retail center in Long Beach. Located at 4215 Atlantic Ave., the property sold for $6.05 million. The buyer was not disclosed.
CARLSBAD, CALIF. — Kunzik & Sara, serving as general contractor, has started construction on Paseo Carlsbad, a 75,000-square-foot retail center in Carlsbad. Located on the corner of Paseo Del Norte and Car County Drive, the center is a development of PacTen Partners for CPT/SC Title Holding Corp. Currently signed tenants include 8,100-square-foot PF Chang’s China Bistro and a 10,470-square-foot BJ’s Restaurant. Gene Fong Architects provided architectural services for the project. The restaurants are slated to open at the end of the year.
LOS ANGELES — PRP Real Estate Advisors/Cambra Realty Joint Venture has purchased 6310 and 6330 San Vicente Boulevard, twin five-story office buildings in Los Angeles. The 206,175-square-foot complex sold for $44 million or $220 per square foot. At the time of acquisition, the property was 92 percent occupied. Bob Safai of Madison Partners represented the seller, Lexington San Vicente Associates, in the transaction.
HAYWARD AND TRACY, CALIF. — Colliers International has completed the transactions of two industrial properties in California. In the first transaction, Mill Valley, Calif.-based GSI Realty has acquired an 113,000-square-foot distribution building in North Hayward for an undisclosed price. Sean Sabarese and Joe Yamin of Colliers’ Oakland, Calif., office represented the buyer; Greig Lagomarsino, also of Colliers Oakland, represented the undisclosed seller in the transaction. In the second transaction, San Francisco-based Lowenberg Corp. purchased a 264,687-square-foot, three-building industrial park in Tracy. A Denver-based REIT sold the Class A multi-tenant property sold for an undisclosed price. Lagomarsino, along with Michael Goldstein and Greg O’Leary of Colliers’ Stockton, Calif., office, brokered the transaction.