VERNON, CALIF. — Jacob Kahobian, owner of Paper Source Converting & Manufacturing, has acquired two industrial buildings, which are located at 4700 and 4800 Santa Fe Ave. in Vernon, for $17.2 million. Paper Source will utilize the 180,932-square-foot property to manage business operations. John Repstad of Binswanger Realty Advisory Group Inc. represented the buyer; Peter Bacci and Jack Cline of Lee & Associates’ Los Angeles Central office represented the seller, Santa Fe Properties LLC, in the transaction.
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SAN FRANCISCO — The Fillmore Center Plaza in San Francisco’s historic Jazz District is slated to open later this month. Designed by AXIS Architecture + Design, the 16,000-square-foot plaza features wiring to accommodate the audio and visual needs of events, seating for more than 300 people and temporary screens to curb wind noise and delineate event space. The plaza is located within the Fillmore Center, which offers luxury apartments in a 7.5-acre park setting.
WALNUT CREEK, CALIF. — Cohen Financial has secured $19 million for the refinancing of a 105,000-square-foot office building in Walnut Creek. The loan includes $17 million at close and $2 million earn-out upon stabilization of the property, which is located at 500 Ygnacio Valley Rd. Paul Schroeder of Cohen Financial’s San Francisco office arranged the 5-year, 70 percent loan-to-value floating-rate loan for the undisclosed borrower. The lender is Lansing, Mich.-based Jackson National Life, PPM Finance’s U.S. subsidiary.
VISTA, CALIF. — Viper LLC has purchased Vista Medical Plaza, a 45,717-square-foot medical office property located at 2067 W. Vista Way in Vista. V.M.P. LLC sold the property for $16.6 million. Viper, which plans to hold the property as a long-term investment, assumed a $6.3 million loan from Capmark Financial Inc. At the time of acquisition, the property was 100 percent occupied. Larry Strickland and Rusty Williams of Lee & Associates’ San Diego North office represented both parties in the transaction.
SUNNYVALE, CALIF. — Marcus & Millichap Capital Corp. has arranged a $15.4 million fixed-rate loan for the refinancing of Landmark Apartments in Sunnyvale. Located at 925 S. Wolfe Rd., the 81,390-square-foot property offers 130 multifamily units. Terms of the 7-year loan include interest-only for 3 years, a 30-year amortization schedule and an 80 percent loan-to-value ratio. Jake Roberts and Anita Paryani of Marcus & Millichap Capital Corp.’s West Los Angeles office arranged the financing on behalf of the undisclosed borrower.
INDIO, CALIF. — Highland Realty Capital Inc. has arranged a $26.5 million loan for the land development of Northgate Crossing, a mixed-use, master-planned community in Indio. The 80-acre development is entitled for commercial, hospitality and residential uses and is located within an Enterprise Zone, which allows employers to obtain state tax credits. The borrower was Northgate Crossing LLC.
LAS VEGAS — InterContinental Hotels Group (IHG) has opened a $45 million StayBridge Suites in Las Vegas. Located at 5735 Dean Martin Dr., the five-story, 118-room property features a complimentary breakfast buffet, complimentary guest laundry and workout facilities, a complimentary 24-hour business center, a guest library with books and games, and BridgeMart®, the hotel’s 24-hour convenience store. Additionally, the property features the brand’s new Outdoor Living Room concept, which offers a place where guests can relax and interact alfresco with a variety of amenities, including all-weather furniture, three pool-side cabanas, a fire pit, grills, music and desert landscaping. The hotel also offers meeting spaces for business functions and special events. The hotel is owned by Gary Tharaldson and managed by Tharaldson Property Management, under a license agreement with a company in the InterContinental Hotels Group.
ORANGE, CALIF. — Fisher Printing Inc. has acquired an industrial building, which is located at 2341 N. Pacific St. in Orange, for $6.75 million. Situated on 2.3 acres, the property comprises a 54,000-square-foot freestanding building and two fenced yard areas. The building features 6,094 square feet of office space, 10 dock-high loading doors, one ground-level loading door, warehouse restrooms and a lunchroom. The seller was Vanderplow Properties. Mitch Zehner and Louis Tomaselli of Voit Commercial Brokerage represented both parties in the transaction.
ASPEN, COLO. — The Weitz Company has completed the Aspen Birth Center at Aspen Valley Hospital in Aspen. The birth center includes an approximately 5,000-square-foot expansion, which features four private labor/delivery/recovery rooms, four private post-partum rooms, one room of all aspects of the birthing experience and a nurses’ station. The renovation of the existing obstetrical unit includes a nursery, an ante-partum room for assessment and observation, an education room, a family waiting area and a sleep room for obstetricians and nurse midwives. Heery-HLM Design provided architectural services for the project, which is the first phase of the hospital’s four-phase master plan.
POMONA, CALIF. — The American subsidiary of China National Aero-Technology Import and Export Corp. (CATIC USA) has purchased a 22,234-square-foot industrial building, which is located within Mission-71 Business Park in Pomona. Long Beach, Calif.-based Seventh Street Development sold the property for $3.3 million. The building offers 2,301 square feet of two-story office space, dock high loading and a private fenced yard. Barbara Emmons, Lynn Know, John Privett and Lyn Eisenhower of CB Richard Ellis represented both parties in the transaction.