SAN DIMAS, CALIF. — Raintree Partners has acquired the 168-unit Mountain View Apartments, located at 650 E. Bonita Ave. in San Dimas, for $21 million. Mountain View consists of two- and three-bedroom residences and includes amenities such as a fitness center, a swimming pool with a spa, a renovated clubhouse and covered parking. CB Richard Ellis’ Sean Deasy represented the seller, an affiliate of Apartment Investment & Management Company, in the transaction.
Western
VISTA, CALIF. — Construction is complete on a 63,000-square-foot medical office park at Via Centre Drive in Vista. Designed by KMA Architecture & Engineering, CreekView Medical Park consists of 12 separate, single-story buildings, ranging in size from 3,765 to 8,496 square feet.
HIGHLANDS RANCH, COLO. — Marcus & Millichap has brokered the $3.23 million sale of Village Center at Highlands Ranch, a 9,919-square-foot retail property located at 9579 S. University Blvd. in Highlands Ranch. The property was 100 percent occupied by three tenants at the time of the sale. Marcus & Millichap’s Jon Hendrickson, Michael Fassel and Garrette Matlock represented the seller, a limited liability company, in the transaction.
SAN DIEGO — McCarthy Building Companies Inc. will construct the new 180,000-square-foot Math and Science Building at San Diego Mesa College, located at 7250 Mesa College Dr. in the Clairemont area of San Diego. Construction on the new $92 million instructional building is expected to begin in early September 2010, with completion slated for November 2012. Designed by Architects | Delawie Wilkes Rodrigues Barker for LEED certification, the facility will house four floors of classrooms, laboratory space and offices for the departments of biology, chemistry, mathematics and physical sciences.
TEJON RANCH, CALIF. — A $25 million TA travel center has opened within Tejon Industrial Complex (TIC) in Tejon Ranch. The new retail facility offers consumer motorists a 24-pump Chevron gas station; two food courts featuring quick-serve restaurants such as Burger King, Taco Bell, Pizza Hut, Subway and Popeye’s Chicken; a TA Café Express convenience store; and many clean restroom facilities. Professional drivers can find facilities to address all of their truck repair and maintenance needs. Tejon Ranch Co. partnered with TravelCenters of America on the project.
BELLFLOWER, CALIF. — Hanley Investment Group Real Estate Advisors has handled the $2.1 million sale of a multi-tenant retail strip center located at 17141-17167 Bellflower Blvd. in Bellflower. Built in 1980, the 12,155-square-foot Bellflower Plaza was 92 percent occupied at the time of the sale. Hanley Investment Group’s Kevin Fryman and Eric Wohl represented the buyer and the seller, both private investors from Los Angeles, in the transaction.
CHINA LAKE, CALIF. — On behalf of the Naval Facilities Engineering Command, Barnhart Inc. has broken ground on a $9 million In-Service Engineering Facility at the Naval Air Weapons Station in China Lake. KMA Architecture & Engineering has assisted on the 21,700-square-foot design/build project, which is slated for completion in June 2010.
DENVER — On behalf of Green Mountain Corporate Center III LLC, NorthMarq Capital has arranged first-mortgage financing in the amount of $4.5 million for the 74,380-square-foot Corporate Center, an industrial property located in Denver. The transaction was a refinance of a maturing CMBS loan. NorthMarq’s Nancy Ferrell and Steven Koeneke arranged the financing through the company’s correspondent relationship with Aetna Life Insurance Company.
PHOENIX — Sperry Van Ness has negotiated the $3.88 million acquisition of a 77,778-square-foot warehouse located at 824 E. University Road in Phoenix. Represented by Sperry Van Ness’ Adam Lopez, Majik Ventures & Zhongya Shaped Aluminum purchased the centrally located distribution facility from RGR Development Corp., which was represented by CB Richard Ellis’ Pat Feeney.
CORONA, CALIF. — SL Residential Inc. has completed construction of the 203-unit, 275,000-square-foot Valencia Terrace, a full-service, senior-living rental campus located at 2300 S. Main St. in Corona. Carlsbad, Calif.-based Kisco Senior Living is the developer of the property, which consists of both independent and assisted-living units. With an IPA design reminiscent of a Spanish hacienda, Valencia Terrance provides a resort-like environment that includes a pool and spa, two beauty salons, a commercial kitchen, a theater room, an exercise gym, a library, a bistro and a resident lounge.