STEAD, NEV. — DP Partners is developing SL 546, a $15 million industrial facility located in Stead. Designed by BJG|Architecture + Engineering, the 546,000-square-foot property will feature a unique blend of various materials and shapes, including innovative concrete design. Completion is slated for this fall.
Western
DENVER — Hodges Ward Elliot (HWE) has completed a $55 million mortgage loan for the Ritz-Carlton Denver. Located at 1881 Curtis St. in downtown Denver, the luxury hotel features 202 rooms, a signature restaurant, Elway’s, and 13,000 square feet of flexible meeting space. HWE represented the owner, CJS Hotel LLC, in the transaction.
ALHAMBRA, CALIF. — An undisclosed buyer has acquired 1206 North Stoneman, a 16-unit multifamily property in Alhambra. Built in 1963, the property sold for $3.18 million or $159.97 per square foot. The property is located at 1206 N. Stoneman Ave. Priscilla Nee of Marcus & Millichap represented the undisclosed seller in the transaction.
CARLSBAD, CALIF. — Jaynes Corporation is currently constructing the new Leucadia Wastewater District Headquarters facility in Carlsbad. Located on La Costa Avenue, the project encompasses 20,000 square feet and includes four structural steel buildings housing district operations and administration staff, a workshop, vehicle storage and equipment storage facilities. Roesling, Nakamura, Terada Architects is providing architectural services for the $8.75 million project. Completion is slated for August 2009.
WOODLAND HILLS, CALIF. — Tamer Iskander of Marcus & Millichap represented the undisclosed buyer in the acquisition of an 8,700-square-foot office property in Woodland Hills. Located at 22440 Clarendon St., the property sold for $2.53 million. The seller was not disclosed.
SAN JOSE, CALIF. — Kennedy Wilson Multifamily Management Group has partnered with The Guardian Life Insurance Company of America to acquire Avalon at Blossom Hill in San Jose from AvalonBay Communities for $84 million. The property, which will be re-named Saybrook Pointe, features 16 three-story, garden-style buildings offering 90 one-bedroom/one-bath units, 210 two-bedroom/two-bath units and 24 three-bedroom/three-bath units ranging in size from 768 to 1,289 square feet. The community also features a single-story fitness center and office lease facility. The partnership plans to invest $4.5 million to upgrade and revitalize the property. Bill Huberty and Sean Deasy of CB Richard Ellis represented both parties in the transaction.
PHOENIX — St. Petersburg, Fla.-based PSCU Financial Services Inc. has purchased Acxiom Building, which is located at 19825 N. 7th St. in Phoenix. Arkansas-based Acxiom Interim Holdings Inc. and Acxiom Corporation of Delaware sold the property for $25.4 million. Built in 2001, the building offers 97,372 square feet of office space. Additionally, a vacant parcel adjacent to the property can accommodate an approximately 150,000-square-foot property. PSCU plans to relocate to the new property in November. Blaine Black and Brian Black of Cushman & Wakefield represented PSCU in the transaction; Barry Rosensteel of PRIN Investments Real Estate Group represented Acxiom.
MISSION HILLS AND VALENCIA, CALIF. — Lenny Cohen of NAI Capital has completed the sales of two properties in Mission Hills and Valencia for a combined consideration of approximately $3 million. In the first transaction, David Phung purchased a 5,506-square-foot office multi-use building located at 10216-10218 Sepulveda Blvd. in Mission Hills. Xyi*Str sold the property for $1.3 million. Cohen represented both parties in the transaction. In a separate deal, Cohen represented the buyer, Acrona Inc., in the acquisition of a 13,755-square-foot industrial building in Valencia. Located at 28745 Industry Dr., the property sold for $1.8 million. Craig Peters and Richard Ramirez of CB Richard Ellis represented the seller, Pac Ten Valencia Gateway Associates, in the transaction.
RENO, NEV. — United Construction Company has completed the fire code renovation project at Truckee Meadows Community College in Reno. Located at 7000 Dandini Blvd., the project included the replacement of existing sprinkler heads, fireproofing of drywall partitions and penetrations, installation of upgraded wiring, handrail replacement, structural steel fireproofing and relocating doors. Sheehan Van Woert Bigotti provided design services for the $1.6 million project.
SHERMAN OAKS, CALIF. — David Harrington and Michael Cain of Marcus & Millichap represented the buyer, an undisclosed partnership, in the acquisition of 4934 Coldwater Canyon Avenue, a 25-unit multifamily property located in Sherman Oaks. An undisclosed seller sold the property for $4 million.