LEMOORE, CALIF. — Lior Regenstreif of Marcus & Millichap’s Encino, Calif., office has represented a privately held REIT in the sale of Jack in the Box store to an undisclosed party for $1.43 million. The 2,646-square-foot property is located in Lemoore.
ESCONDIDO, CALIF. — BMT Scientific Marine Services has signed a 24,500-square-foot warehouse lease with 955 Borra Place LLC in Escondido. The firm leased the space, which is located at 955 Borra Place, for 120 months. BMT will occupy 72 percent of the fully leased building. Greg Pieratt and Tom Blackmore of Lee & Associates’ Carlsbad, Calif., office represented the tenant.
SAUSALITO, CALIF. — Gateway Apartment Partners has sold the 225-unit Ridgeway Apartments to St. Anton Partners for $28.5 million. St. Anton will invest more than $4 million in the property, renovating the interior and exterior of the buildings. Located on 10 acres in Sausalito, the complex offers below-market rents.
SANTA FE SPRINGS, CALIF. — Philadelphia Gear Corp. has signed a lease with Standard Precision for a 113,125-square-foot warehouse. The property is located at 12935 Imperial Highway in Santa Fe Springs. John McMillan of Cushman & Wakefield’s Los Angeles office represented the tenant. Mike Foley and Dave Hess of CB Richard Ellis’ Commerce, Calif., office represented Standard Precision. The 10-year lease is worth $8 million.
RENO, NEV. — Passco Cos. has sold a 330,000-square-foot warehouse to an Alaskan partnership for $7 million. Located at 4910 Longley Lane in Reno, the property is part of a six-building portfolio Passco purchased 6 years ago. NAI Alliance Reno’s Paul Perkins and Michael Hoeck brokered the sale.
OAKLAND, CALIF. — Kevin Turner of Marcus & Millichap’s Oakland office has represented an undisclosed party in the sale of a 16-unit apartment complex to a private buyer for $2.28 million. The property is located at 465 Lee St. in Oakland.
FRESNO, CALIF. — Jay Porterfield of Arbor Commercial Funding’s Plano, Texas, office has secured a $5 million loan for the 276-unit Crystal Tree Apartments in Fresno. Fannie Mae provided financing for the 10-year loan. The loan carries a 5.62 percent interest rate and a 30-year amortization schedule.
IRVINE, CALIF. — Irvine-based Faris Lee Investments has completed the sale of a portfolio of five Kohl's department stores. The properties are located in Redondo Beach, Monrovia, Rancho Cordova and Eureka, Calif.; and Henderson, Nev. All of the properties anchor shopping centers and all have new triple-net leases that expire in 2028. Richard Walter and Donald MacLellan of Faris Lee represented the seller, Macerich. Los Angeles-based ING Clarion purchased the Redondo Beach property; Phoenix-based Cole Real Estate Investments purchased the Monrovia and Rancho Cordova properties; Los Angeles-based Stearns Trust purchased the Eureka property; and Nevada-based Williamson Trust purchased the Henderson property. Faris Lee also represented the buyers in each of the transactions except for the Eureka property, in which Phase One Realty represented the buyer. The sale price was not disclosed.
SAN LEANDRO, CALIF. — Grubb & Ellis has brokered the sale of Wicks Business Park, a 143,443-square-foot industrial property located in San Leandro. Situated on 11.2 acres at 15000-15099 Wicks Blvd., the property comprises four single-story buildings. Occupancy was 70 percent at the time of closing. Edward Suharski, Steven Golubchik and Seth McKinnon of Grubb & Ellis' San Francisco office arranged the transaction. Both parties were undisclosed.
SCOTTSDALE, ARIZ. — Colliers International has arranged the sale of a 34,757-square-foot flex property in Scottsdale for $5.44 million. Situated within McDowell Business Park at 16641 N. 91st St., the two-story building consists of 25,593 square feet of Class A office space and 9,164 square feet of warehouse space. Greg Hopley of Colliers' Scottsdale office represented the seller, locally based Wright Brothers Investments. Troy Weurding of Caliber Commercial represented the buyer, Patriot Investments. Patriot Investments plans to occupy approximately 25,000 square feet within the property for its corporate offices. Wright Brothers will retain space in the building for 2 years.