Western

CONSTRUCTION COMPLETE FOR 66,112-SQUARE-FOOT ELEMENTARY SCHOOL

by admin November 6, 2008

LAS VEGAS — CORE Construction–Nevada has completed the construction of Thomas O’Roarke Elementary School in Las Vegas. Located at 6002 S. Durango Dr., the 66,112-square-foot school features classrooms surrounding an exterior learning courtyard. Additionally, the company constructed playgrounds, parking lots and offsite improvements. JMA Architecture Studios provided architectural services for the $20.4 million project. The Clark County School District contracted CORE Construction for the project.

November 6, 2008

NAI CAPITAL BROKERS TWO TRANSACTIONS

by admin November 6, 2008

RESEDA, CALIF. — The Community Redevelopment Agency of the city of Los Angeles has purchased two properties in the business district redevelopment area of Reseda. The assets include a 15,000-square-foot shopping center and 46,000 square feet of land at 18128 Sherman Way. The transaction was valued at $5.52 million. J. Richard Leyner, Cal Menzer and Jesse Paster of NAI Capital’s Encino, Calif., office represented the seller, Sixth and Union LLC, in the transaction. The buyer was represented in-house.

November 6, 2008

Industrial Western

213,444-SQUARE-FOOT LAND PARCEL SELLS FOR $8.3 MILLION

by admin November 6, 2008

ANAHEIM, CALIF. — KIFLP Investments has acquired a 213,444-square-foot land parcel in Anaheim for $8.3 million. Located at 1401 Jefferson St., the former automotive storage yard is currently undergoing improvements. The property is in close proximity to the Anaheim Canyon Metrolink Station and offers access to the 91 Freeway. Michael Bouma and Michael Hartel of Voit Commercial Brokerage represented the buyer; Jeff Chiate of Cushman & Wakefield represented the seller, bkm Development, in the transaction.

November 6, 2008

Hospitality Western

BROTHERS HOSPITALITY DEVELOPMENT SELLS 81-ROOM HOTEL

by admin November 6, 2008

PUEBLO, COLO. — Brothers Hospitality Development has completed the disposition of Hampton Inn & Suites in Pueblo. Apple Nine Hospitality Ownership Inc. acquired the property for an undisclosed price. The hotel is located along Interstate 25 on the south side of Pueblo. Larry Kaplan and Mark Darrington of HREC Investment Advisors’ Denver office brokered the transaction.

November 6, 2008

Office Western

RUFFIN ROAD BUSINESS PARK FETCHES $8.6 MILLION

by admin November 5, 2008

SAN DIEGO — San Diego-based The Shidler Group, on behalf of its entities Buie San Jacinto LLC and 3949 & 3959 Ruffin Road LLC, has completed the disposition of Ruffin Road Business Park, a two-building complex located at 3949 and 3959 Ruffin Road in San Diego. H.G. Fenton Property Company acquired the 45,842-square-foot office property for $8.6 million. At the time of acquisition, the property was 91 percent occupied. Major tenants include United Tote, Access Professional Inc. and Nsoro LLC. Nick Psyllos and Paul Komadina of CB Richard Ellis represented both parties in the transaction.

November 5, 2008

Office Western

THERIAC ENTERPRISES ACQUIRES OFFICE BUILDING FOR $4.5 MILLION

by admin November 5, 2008

EL SEGUNDO, CALIF. — El Segundo-based Theriac Enterprises has acquired a 12,682-square-foot office building located at The Edge at El Segundo in El Segundo. The building is slated for completion in September 2009. The buyer, an oncology and radiation treatment center, plans to occupy the entire facility, which is being developed by Thomas Properties Group. Gary Weiss and Dustin Ballard of Madison Partners represented the buyer; Bob Heeley of CB Richard Ellis represented the seller, AMB DFS El Segundo LLC, in the transaction.

November 5, 2008

Industrial Western

AIC INVESTMENT CO. TAKES LAND PARCEL FOR INDUSTRIAL PROJECT

by admin November 5, 2008

PHOENIX — AIC Investment Co. has purchased a 4.03-acre land parcel in Phoenix’s Estrella Commerce Park II for $1.31 million or $7.50 per square foot. The company plans to develop a 60,000-square-foot build-to-suit industrial property on the site, which is located at the southwest corner of 72nd Avenue and Sherman Street. Sun State Builders is serving as general contractor for the project, which is slated for completion in June 2009. Gulf Arizona Packaging is contracted to occupy 30,000 square feet of the property. The seller was Tempe, Ariz.-based Chamberlain Development LLC. Payson MacWilliam and Don MacWilliam of Colliers International represented both parties in the transaction.

November 5, 2008

Multifamily Western

CMR MORTGAGE FUND COMPLETES SALE OF MULTIFAMILY PROPERTY

by admin November 5, 2008

FRESNO, CALIF. — CMR Mortgage Fund has completed the disposition of a 33-unit multifamily community in Fresno. Built in 1970, the property features two-bedroom, garden-style units. The undisclosed buyer plans to renovate the community. Jamie Clifford and Steve Carne of Arroyo & Coates represented the seller in the transaction. The acquisition price was not disclosed.

November 5, 2008

Multifamily Western

31-UNIT APARTMENT BUILDING SELLS FOR $4.5 MILLION

by admin November 5, 2008

LOS ANGELES — Hiu Chan of Marcus & Millichap has completed the disposition and acquisition of an apartment building located at 2054 Argyle Ave. in Los Angeles. The 31-unit property sold for $4.5 million. Built in 1957, the property is situated on a 21,562-square-foot site. The seller and buyer were not disclosed. Chan represented both parties in the transaction.

November 5, 2008

Retail Western

SCI REAL ESTATE INVESTMENTS SELLS TWO INVESTMENT PROPERTIES

by admin November 4, 2008

CHANDLER AND PHOENIX, ARIZ. — SCI Real Estate Investments LLC and 34 tenant-in-common co-owners have sold Casa Paloma Shopping Center in Chandler for an undisclosed price. The company acquired the property in 2005 for approximately $43.68 million. The 130,096-square-foot center is tenanted by AJ’s Fine Foods, Gap Women, Gap Body, Bath & Body Works and Banana Republic. Additionally, the company recently sold Deer Valley Village in Phoenix. The 832-unit luxury apartment community was purchased by SCI and 19 TIC co-owners in 2004 for approximately $71 million. The property recently reached full cycle, selling for $85.2 million.

November 4, 2008

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