GILBERT, ARIZ. — Autoline Industrial has purchased a general industrial building, which is located at 115 N. Sunway Dr. within Sunrise Business Park in Gilbert. Built in 1998, the 20,193-square-foot property sold for $1.7 million. Joe Cryan of NAI/Horizon represented the buyer; Kris Martin of Grubb & Ellis|BRE Commercial represented the seller, Creta Hevle of Eagle Distributing, in the deal.
PALO ALTO, CALIF. — The electric vehicle maker Tesla has leased a 350,000-square-foot office from an undisclosed party to serve as its new corporate headquarters. The brownfield property, which will be renovated to environmental standards, is located at 3500 Deercreek Rd. in Palo Alto. The company will consolidate its operations from various buildings and move into its new space later this year. Shawn Kellenberger, John Yandle and Jack Lewis of Cornish & Carey Commercial/ONCOR International’s Santa Clara, Calif., office represented Tesla in the transaction.
LOS ANGELES — Ryan Noto Ventures has purchased a 14,270-square-foot building from Seward Property Investments for $4.3 million. The property is located at 712 Seward St. in Los Angeles. Klabin Co./CORFAC International’s Keith Fielding represented the buyer, and Grubb & Ellis’ Martin McDermott represented the seller.
PHOENIX — Eagle Distributing has sold a 20,193-square-foot warehouse to Autoline Industries for $1.7 million. The property is located in Phoenix’s Sunrise Business Park at 115 N. Sunway Dr. Kris Martin of Grubb & Ellis|BRE Commercial represented Eagle Distributing; Joe Cryan of NAI/Horizon represented the buyer.
LOS ANGELES — New Keap Investments has received a $4.64 million loan to refinance its 98-unit Oliver Cromwell apartment complex. The property, which was built in 1927, is located in the Koreatown district of Los Angeles. The 10-year loan carries a 30-year amortization schedule. Yuri Kletsman of Alliant Capital’s New York City office secured the loan.
WOODLAND HILLS, CALIF. — Los Angeles-based Younan Properties Inc. has acquired WarnerView Corporate Center in Woodland Hills for an undisclosed price. Located at 5959 Topanga Canyon Blvd., the three-story, 62,000-square-foot office property is currently 93 percent occupied. Younan Properties first purchased the building in 2004 and sold it less than 12 months later to Value Home Loan. Younan Properties was self-represented in the transaction.
MARINA, CALIF. — Buena Vista Land Co. has acquired Colonial Manor Apartments, a 44-unit multifamily property located at 3340 Del Monte Blvd. in Marina. Salinas Property Management sold the property for $5 million or $113,600 per unit. The property consists of seven apartment buildings offering 44 two-bedroom units averaging 900 square feet each. Wylie Mitchell and Daniel Vorhies of NAI BT Commercial represented the seller in the deal.
HOLLYWOOD, CALIF. — William Holdings Inc. has completed the disposition of Carlton Way Apartments, a 30-unit multifamily property located at 6021-6029 Carlton Way in Hollywood. 6021 Carlton Way LLC purchased the 23,957-square-foot property for $4.05 million. Built in 1963, the property consists of a mix of three-, two- and one-bedroom units. David Condon of NAI Capital’s West Los Angeles, Calif., office represented the seller in the transaction.
GILBERT, ARIZ. — Jackson Property Group has purchased an industrial building, which is located at 115 N. Sunway Dr. in Gilbert. The 20,193-square-foot property sold for $1.7 million. Mark Wilcke, Joe Cryan and Tysen Manuel of NAI Horizon represented the buyer; Kris Marin of Grubb & Ellis represented the seller, the estate of Scott W. Hevle, in the transaction.
MILPITAS AND FREMONT, CALIF. — Newmark Realty Capital Inc. has arranged permanent financing for two multi-tenant, triple-net leased retail properties in the East Bay area. Terri Slocombe of Newmark secured the financing through The Standard for Dempsey Plaza in Milpitas and Irvington Plaza in Fremont. The 16,268-square-foot Dempsey Plaza, which is located at the intersection of Interstate 680 and Landess Avenue, received $1.2 million in permanent financing. Irvington Plaza, a 21,000-square-foot center, received $1.4 million in financing.