OAKLEY, CALIF. — NAI BT Commercial has handled the $3.025 million sale of a 6,590-square-foot multi-tenant retail property, located at 2190 Main Street (Highway 4) in Oakley. The newly constructed property is tenanted by Starbucks Coffee and Round Table. Michael Maffia of NAI’s Leased Investment Group represented the undisclosed seller.
Western
CHANDLER, ARIZ. — Gilbane Development has delivered a new 83,000-square-foot build-to-suit office property for Dulles, Va.-based Orbital Sciences Corp.’s Arizona Program Management Center. McShane Construction completed the three-story, state-of-the-art office building and an adjacent two-story parking structure, which are located at the northwest corner of Price and Dobson roads within 4 miles of Interstate 10 in Chandler. Dallas-based Gromatzky Dupree & Associates provided the architectural services for the development, which is applying for LEED Silver certification.
GARDEN GROVE, CALIF. — Corix Utilities U.S. Inc. has signed a 3-year lease for a 62,888-square-foot industrial property, and Bacozone Inc. has signed a 5-year lease on a 30,000-square-foot industrial property. Both properties are located in Garden Grove, and Voit Real Estate Services’ Mike Bouma represented both of the lessors — CRP II Monarch LLC and Kilroy Realty L.P, respectively — in the transactions. Voit’s Louis Tomaselli and Mitch Zehner assisted on the latter lease.
LAS VEGAS — Crisci Builders has completed construction on its new two-story, 15,256-square-foot commercial office building, Crisci Professional Plaza, located at 8845 W. Flamingo Rd. in Las Vegas. Crisci Builders will occupy 9,450 square feet of the development, which includes a 48-foot-tall rotunda with a dual-spiral staircase. Construction on the facility began in January 2009.
GILBERT, ARIZ. — Eagle Commercial Realty Services has brokered the $2.75 million sale of the leasehold interest in a freestanding Walgreens Pharmacy, located at 754 North Higley Rd. in Gilbert. Eagle Commercial’s Alan Davidson and Jeffery Gorden represented the seller, Gilbert Brown Southwest LLC, along with co-trustees Wells Fargo Bank N.A. and the University of Southern California. Amer Kasm of AZUR Realty Partners represented the undisclosed buyers.
DOWNEY, CALIF. – Rexford Industrial LLC has purchased the 176,000-square-foot RIF IV Cornerstone, a newly constructed light industrial property located at 9220-9268 Hall Rd. in Downey, for $10 million. Consisting of 45 industrial condominium units situated on approximately 9 acres of land, Rexford’s acquisition came directly from the lender out of foreclosure in an off-market transaction.
SAN DIEGO — AMCAL Multi-Housing and Las Palmas Foundation will hold the grand opening of Los Vientos, a new affordable-housing development located in the Barrio Logan neighborhood of San Diego. Designed by local San Diego architects Austin Veum Robbins and Parshalle, the 89-unit Los Vientos consists of two buildings featuring four four-bedroom units, 35 three-bedroom units and 50 two-bedrooms units. It also includes two children’s play areas in the courtyard, an outdoor barbecue area and a 1,400-square-foot community clubhouse with a computer lab. With rents ranging from $450 to $1,180 per month, the affordable-housing development will be available to residents who earn 30 to 60 percent of the area median income.
CONCORD, CALIF. — Kilpatrick & Co. has represented the sellers of a 20-unit property in Concord for $2.98 million. Located at 3886 Mulberry Dr., the property features 16 two-bedroom/one-bath units and 4 two-bedroom/1.5 bath, split-level units. Kilpatrick & Co.’s Zach Evanish represented the undisclosed sellers.
LOS ANGELES — Investment Real Estate Associates (IREA) brokered the $35 million sale of a 208-room landmark hotel located where Sunset Boulevard meets the 405 freeway in the Brentwood area of Los Angeles. IREA’s Yubin Tao represented the seller, a private party, while the firm’s Clark Everitt, William Everitt and James Bekker represented the buyer, also a private party. The hotel property was built in 1973 and completely renovated in 2006.
LOS ANGELES — Snyder Langston has completed the Loyola Marymount University (LMU) William H. Hannon Library, a 120,000-square-foot, three-level university facility located on the LMU campus at 1 LMU Dr. in Los Angeles. Designed by AECOM, the library is pursuing a LEED Silver rating. The library project broke ground in May 2007.