LAKE FOREST, CALIF. — Irvine Property Investments LLC has acquired a 13,312-square-foot industrial building, located at 25612 Commercentre Dr. in Lake Forest, for $2.7 million. Kirk Cole of Grubb & Ellis represented the buyer in the transaction, and CB Richard Ellis’ Steve Wagner of represented the seller, Sundown Real Estate Partners.
Western
SUISUN CITY, CALIF. — Basin Street Hospitality, a division of Basin Street Properties, has opened the Hampton Inn & Suites Suisun City Waterfront Hotel. Located at Two Harbor Center Drive in the expanding business corridor between the San Francisco Bay Area and Sacramento and just minutes away from Napa Valley, the 102-room hotel offers high-quality room accommodations as well as an outdoor pool and spa and meeting rooms. Hartmut Ott is general manager of the Hilton property.
DENVER — Opus Northwest has completed the new three-story, 95,000-square-foot Pulte Mortgage national headquarters in Inverness Business Park in Denver. Situated on 6.8 acres, the headquarters is 100 percent leased and accommodates 650 employees. Opus served as the developer and design-builder of the new facility, OZ Architecture provided tenant finish services and Inverness Properties is the property manager.
LA MESA, CALIF. — Grubb & Ellis|BRE Commercial has brokered the $6.7 million acquisition of Stoneridge by the Lake Condominiums in La Mesa. Located at 5707 Baltimore Dr., the more than 30-year-old property features five buildings on 2.24 acres of land. The transaction encompassed 47,705 rentable square feet, including 42 of the 51 total condominium units in the complex. Grubb & Ellis|BRE Commercial’s Diane Miramontes, Darcy Miramontes, Hunter Combs and Kip Malo represented the undisclosed buyer. The fractured condo development was sold by a large international bank, which was also the original lender on the property’s conversion in 2006-2007.
OAKLEY, CALIF. — NAI BT Commercial has handled the $3.025 million sale of a 6,590-square-foot multi-tenant retail property, located at 2190 Main Street (Highway 4) in Oakley. The newly constructed property is tenanted by Starbucks Coffee and Round Table. Michael Maffia of NAI’s Leased Investment Group represented the undisclosed seller.
CHANDLER, ARIZ. — Gilbane Development has delivered a new 83,000-square-foot build-to-suit office property for Dulles, Va.-based Orbital Sciences Corp.’s Arizona Program Management Center. McShane Construction completed the three-story, state-of-the-art office building and an adjacent two-story parking structure, which are located at the northwest corner of Price and Dobson roads within 4 miles of Interstate 10 in Chandler. Dallas-based Gromatzky Dupree & Associates provided the architectural services for the development, which is applying for LEED Silver certification.
GARDEN GROVE, CALIF. — Corix Utilities U.S. Inc. has signed a 3-year lease for a 62,888-square-foot industrial property, and Bacozone Inc. has signed a 5-year lease on a 30,000-square-foot industrial property. Both properties are located in Garden Grove, and Voit Real Estate Services’ Mike Bouma represented both of the lessors — CRP II Monarch LLC and Kilroy Realty L.P, respectively — in the transactions. Voit’s Louis Tomaselli and Mitch Zehner assisted on the latter lease.
LAS VEGAS — Crisci Builders has completed construction on its new two-story, 15,256-square-foot commercial office building, Crisci Professional Plaza, located at 8845 W. Flamingo Rd. in Las Vegas. Crisci Builders will occupy 9,450 square feet of the development, which includes a 48-foot-tall rotunda with a dual-spiral staircase. Construction on the facility began in January 2009.
GILBERT, ARIZ. — Eagle Commercial Realty Services has brokered the $2.75 million sale of the leasehold interest in a freestanding Walgreens Pharmacy, located at 754 North Higley Rd. in Gilbert. Eagle Commercial’s Alan Davidson and Jeffery Gorden represented the seller, Gilbert Brown Southwest LLC, along with co-trustees Wells Fargo Bank N.A. and the University of Southern California. Amer Kasm of AZUR Realty Partners represented the undisclosed buyers.
DOWNEY, CALIF. – Rexford Industrial LLC has purchased the 176,000-square-foot RIF IV Cornerstone, a newly constructed light industrial property located at 9220-9268 Hall Rd. in Downey, for $10 million. Consisting of 45 industrial condominium units situated on approximately 9 acres of land, Rexford’s acquisition came directly from the lender out of foreclosure in an off-market transaction.