LOS ANGELES — McCarthy Building Companies Inc., serving as general contractor, has topped out construction for Los Angeles Unified School District’s South Region High School #2, which is located at the corner of South Central and East Gage Avenues in Los Angeles. The 220,000-square-foot project consists of eight buildings, which include three three-story classroom buildings, a three-story administrative and classroom building, and a two-story music, sports and multi-purpose complex. LEO A DALY provided architectural services for the project.
SAN DIEGO — Johnson & Jennings General Construction has completed the tenant improvement (T.I.) construction for Carl Zeiss Vision Americas Pacific regional headquarters in San Diego. Improvements for the 33,000-square-foot facility included build-out of two floors of offices, an exterior balcony for company functions, a conference center, and a reception area. Johnson & Jennings was retained by Carl Ziess Vision, a provider of lenses, coatings, Rx Lab services and equipment, for the $2.2 million project. Gensler San Diego provided architectural services for the project.
PACIFIC GROVE, CALIF. — The Korda Group has acquired Country Club Gate Center, a two-story jewel-box office building in Pacific Grove. The 21,047-square-foot facility sold for $3.75 million or $178 per square foot. Bob Safai and Ron Jacobson of Madison Partners represented the buyer and the seller, Fowler Properties, in the transaction.
SEATTLE, WASH. — Blake Rodgers, Daniel Swanson and Dino Christophilis of Marcus & Millichap’s Seattle office represented the undisclosed buyer in the acquisition of Crown Hill Retail in Seattle. Located at 8345 15th Ave. N.E., the 3,529-square-foot retail property sold for $2 million. The seller was not disclosed.
RANCHO BERNARDO, CALIF. — Newmark Realty Capital has arranged $3.1 million in financing for Bernardo Medical Office Building, which is located on Bernardo Center Drive in Rancho Bernardo. The 33,970-square-foot facility is occupied by medical and dental tenants. James Dick of Newmark’s Irvine, Calif., office secured the 15-year-loan for the borrower, Gilbert Martin Trust, through a San Diego-based credit union.
MONROE, WASH. — Ryan Kidwell of Marcus & Millichap’s Seattle office represented the undisclosed seller in the disposition of Sandra Lynn Apartments in Monroe. The eight-unit apartment community sold for $560,000. Located at 316 S. Kelsey St., the garden-style property was built in 1965. Kidwell also represented the undisclosed buyer.
DESERT HOT SPRINGS, CALIF. — McCarthy Building Companies has begun construction on the new $39.5 million Painted Hills Middle School in Desert Hot Springs. Located at 9250 Sonora Dr., the 138,000-square-foot project will feature classroom wings, central administration offices, a library/media center, a central courtyard, an outdoor amphitheater, a covered lunch shelter and a multi-purpose room with attached food service and locker rooms. Riverside, Calif.-based Ruhnau Clarke Associates provided architectural services for the project, which is slated for completion in 2011. Palm Springs Unified School District is developing the new school.
NAPA, CALIF. — Sunstone Hotel Investors Inc. has completed the disposition of the 274-room Marriott hotel in Napa. The property sold for $36 million. Sunstone estimates that the hotel would require approximately $6 million in near-term renovations to comply with Marriott brand standards. The gross proceeds of $36 million, plus the $6 million of renovations that Sunstone will not have to spend, equates to a 10.5x 2009 EBITDA multiple. The buyer was not disclosed.
WESTLAKE VILLAGE, CALIF. — Westlake Medical Center LLC has completed $1 million in renovations for Westlake Medical Center, which is located at 32144 Agoura Rd. in Westlake Village. The two-story, steel-frame building offers 30,000 square feet of medical/dental space. Tony Principe, Darin Arrasmith and Aaron Guerrero of Westcord Commercial Real Estate Services is marketing the property.
SAN RAFAEL, CALIF. — Cohen Financial has secured a $21.8 million loan for two mixed-use properties in San Rafael. The properties consist of San Rafael Town Center, a property located on 4th Street and featuring office/retail space and 113 apartments; and Montgomery Tech Center, an industrial and retail property located on Dubois Street. Paul Schroeder of Cohen Financial’s San Francisco office arranged the transaction. The borrower was not disclosed.