PLACENTIA, CALIF. — M&M Acquisitions has acquired a 26,285-square-foot industrial building for $3.9 million. The property is located at 1700 Barcelona in Placentia. Paul Gingrich of DAUM Commercial Real Estate Services represented the buyer; Chris Migliori, also of DAUM, represented the seller, Weise Living Trust, in the transaction.
LONG BEACH, CALIF. — HI Urban Retail Advisors, a division of Hanley Investment Group Real Estate Advisors, has completed the disposition and acquisition of a street-front retail building, which is located at the corner of Third Street and Pine Avenue in Long Beach. The 24,925-square-foot REO building sold for $3.5 million or $140 per square foot. The property offers 23,050 square feet of ground-floor retail space and 1,875 square feet of second story office/loft space. At the time of acquisition, the property was 94 percent vacant. Carlos Lopez of HI Urban represented both undisclosed parties in the transaction.
WOODLAND, CALIF. — Sacramento, Calif.-based Crosswood Investment Co. has completed the disposition of Crosswood, an apartment community located at 641-645 Second St. in Woodland. An undisclosed buyer acquired the property for $2.2 million. Steven Nelson and Al Inouye of Hendricks & Partners represented the seller in the transaction.
DOWNEY, CALIF. — McCarthy Buildings Companies Inc., serving as design-build general contractor, has completed the construction of Kaiser Permanente Downey Medical Center, a $385 million replacement hospital located in Downey. Located at the corner of Imperial Highway and Bellflower Boulevard, the 650,000-square-foot facility replaces the existing Kaiser Permanente Bellflower Medical Center, which will be converted to an outpatient facility. The 352-bed hospital features an inpatient care diagnostic and treatment center; critical care and acute care nursing; inpatient and outpatient surgery; a labor, delivery, recovery and postpartum unit; pediatric services; and a neonatal ICU. HMC Architects provided architectural services for the project.
TRACY, CALIF. — US Industrial REIT III, an affiliate of USAA Real Estate Company, has purchased a 657,600-square-foot Class A bulk distribution facility in Tracy. Home Depot USA Inc. currently occupies the facility on a 15-year lease. The facility, a rapid deployment center, features a tri-load design and more than 400 secured and lighted trailer positions. Additional details regarding the transaction were not disclosed.
CHATSWORTH, CALIF. — Chase Nordhoff LLC has completed the disposition of an 18,151-square-foot industrial building in Chatsworth. Located at 21717 Nordhoff St., the property sold to an undisclosed buyer for $2.92 million. Michael LaRocque of DAUM Commercial Real Estate Services represented the seller; Bruce Simpson of Delphi Business Properties represented the buyer in the transaction.
TEMPE, ARIZ. — Coyote Portable Storage LLC, a franchisee of the PODS (Portable On Demand Storage) concept, has leased 45,220 square feet of space at 860 W. Carver Rd. in Tempe. The company plans to relocate to the new facility. Aric Adams of Cushman & Wakefield represented the tenant; Pat Harlan, Steve Sayre, Darren Tappen and Jim Wilson of Cushman & Wakefield represented the landlord, Des Moines, Iowa-based Principal Global Investors, in the transaction.
BOULDER, COLO. — MGL Partners has completed the closing and funding of a $41 million construction loan for The Carillon at Boulder Creek, an independent living project for seniors in Boulder. The nine-story property offers 117 units. The project is slated for completion in summer 2010. One Eighty LLC, a privately held senior-housing operator, is operating the property. The loan has a 40-year term and a 40-year amortization schedule at an interest rate of 6.35 percent. The loan is part of the Federal Housing Administration (FHA) 232 loan program and was originated by Amerisphere Financial and purchased by Evanston Financial.
LAGUNA HILLS AND ANAHEIM, CALIF. — CB Richard Ellis has brokered two transactions totaling $2.38 million in Orange County. In the first transaction, Justin Hill and Kevin Hill of CBRE’s Anaheim office represented YG Ventures LLC in the sale of a 3,000-square-foot freestanding building. Located at 27051 Moulton Parkway in Laguna Hills, the property sold to a local dentist for $1.28 million. In Anaheim, the Holy Apostolic Catholic Church of the East purchased a 4,360-square-foot pre-school facility located at 2510 W. Orange Ave. Justin Hill and Ed Matevosian of CBRE’s Los Angeles North office represented the seller, Hatch Investments, in the transaction.
CHULA VISTA, CALIF. — Wells Fargo & Co. has provided an $8 million loan to Wakeland Housing & Development Corp. for the construction of Los Vecinos Apartments in Chula Vista. The 42-unit affordable housing project is expected to receive LEED Platinum certification. Rodriguez and Associates designed the project, which was constructed by Wermers Construction. Sally Lang of Wells Fargo’s community lending and investment group secured the transaction.