SEATTLE — First Industrial Realty Trust Inc. has purchased a 233,000-square-foot industrial portfolio in the Seattle market for an undisclosed price. The portfolio consists of three Class A distribution facilities, which are located in the Kent Valley submarket. The buildings offer easy access to the ports of Seattle and Tacoma, the Seattle-Tacoma Airport and Interstate 5. At the time of acquisition, the portfolio was 100 percent leased. Andrew Harnish and Chris Spofford of Jones Lang LaSalle assisted First Industrial in the transaction. The seller was not disclosed. Additionally, the company is currently investing in the development of two buildings, totaling 328,500 square feet, at First Park Meridian Campus in Lacey, Wash. The first building, which totals 198,000 square feet, is slated for completion in October.
STOCKTON, CALIF. — University of the Pacific has completed the development of The University Center, the campus’ first green building, which is slated to open in August. Designed by San Francisco-based Gensler, the two-story, 55,000-square-foot building will serve as the campus’ gathering place and dining facility. Situated along the Calaveras River, the facility features a two-story entry atrium, wireless Internet, a full-service pub, entertainment venues, high-tech meeting rooms and a gaming room. The project, which is seeking LEED Silver certification, also features retractable skylights, daylight sensors, large windows and doors for natural lighting and cooling; a mixed-mode heating and air conditioning system for natural ventilation; and various water-saving components, including dual-flush toilets and dishwashers that function with a minimum amount of water usage. The $38 million center was funded in part by donations, bonds, and operating and reserve funds. Milpitas, Calif.-based Devcon Construction Inc. served as general contractor for the project.
VISTA, CALIF. — Global Building and CITYMARK Development Corp. have developed Premier Crossing, a $20 million medical and professional office park in Vista. Located at the intersection of South Melrose Drive and Sycamore Avenue, the 51,716-square-foot project offers 10 buildings ranging in size from 3,870 to 6,280 square feet and are divisible to as small as 1,800 square feet. Davis Davis Architects provided architectural services for the for-sale project, while Richard & Richard Construction Company served as general contractor.
SAN DIEGO — Pacific Sorrento LLC has purchased Mira Oberlin Plaza, a 77,309-square-foot office building in San Diego. Westcore Oberlin LLC, an entity of Westcore Properties, sold the building for $24.9 million. The facility is located at 5880 Oberlin Dr. in the Sorrento Mesa area of San Diego. Fouy Ly of Sperry Van Ness’ Irvine, Calif., office represented the buyer; Westcore was self-represented in the transaction.
VISTA, CALIF. — Rexford Industrial LLC has acquired Century Industrial Center, which is located at 929-951 Poinsettia Ave. in Vista, for $10.38 million. The acquisition includes four building containing 13 units, which range in size from 3,000 to 19,000 square feet. The facility also offers 16- to 18-foot clear heights, as well as ground-level and dock-level loading doors. Joe McDermott, Jim Benson and John Witherall of Coldwell Banker Commercial represented the buyer and the seller, Poinsettia Vista Partners LLC, in the transaction.
MONTCLAIR, CALIF. — Beverly Hills, Calif.-based Kennedy Wilson Multifamily Management Group has partnered with PCCP LLC to acquire Cambridge Park, a 165-unit townhome community located in Montclair. Acacia Capital sold the property for $29.25 million. The community comprises 22 two-story, townhome-style structures and a leasing office. To be renamed The Lexington, the property offers a mix of two- and three-bedroom units averaging 1,100 square feet. Units feature mansard roofs, central heating and air-conditioning, oversized patios or balconies, full-size washers and dryers, double steel sinks, electric ranges, dishwashers, ceiling fans and large closets. Additionally, the community offers a fitness center, a swimming pool, a children’s playground and outdoor barbeques. The buyers, who assumed Acacia’s existing Fannie Mae/Prudential loan, plan to invest an additional $2.33 million to renovate the property, which was built in 1974.
OAKLAND, CALIF. — A joint venture between Forest City Residential Group Inc. and MacFarlane Partners is developing Uptown Apartments, a transit-oriented residential development in Oakland. Encompassing four city blocks between Telegraph Avenue, 19th Street, Thomas L. Berkley Way and San Pablo Avenue, the project represents a true public/private partnership between the two companies and the city of Oakland Redevelopment Agency. The William, the first phase of the project, is complete and available for lease. When completed at the end of this year, the project will offer 665 apartment homes, with 25 percent designated as affordable rental housing for low-income and moderate-income residents, and 9,000 square feet of retail space. The project has received LEED Silver certification from the U.S. Green Building Council for its environmentally friendly design and sustainable components. MVE & Partners provided architectural services for the project.
GILBERT, ARIZ. — Memphis, Tenn.-based Mid-America Apartments L.P. has acquired Alexan Lyon’s Gate, a 312-unit apartment community located at 3301 E. Ray Rd. in Gilbert. Scottsdale, Ariz.-based TCR Ray Road Holdings LP sold the property for $35.25 million. Situated on a 15.38-acre site, the property features one-, two- and three-bedroom floor plans averaging 959 square feet. The units feature a full amenity package including 9-foot ceilings and full-size washer/dryers. Additionally, the community offers a resort-style swimming pool and spa, a clubhouse with business center, a fully equipped fitness center, a volleyball court and a cyber café. Mark Forrester and Bob Bruno of Hendricks & Partners’ Phoenix office represented the seller in the transaction.
LEBANON, ORE. — Guardian Management LLC has purchased and opened a newly constructed workforce housing development, Queen Anne Apartments, in Lebanon. Stayton Ore.-based Slayden Construction Group Inc. constructed the $12.2 million development. Queen Anne Apartments offers 98 residential units, a sand volleyball court, a full-size basketball court, a fitness center, a community room and a children’s playground. The units feature washers and dryers, dishwashers and microwave ovens. Guardian purchased the property from Queen Anne Apartments LLC with tax-exempt bonds, which were issued by the State of Oregon. The acquisition price reflects an all-in cost of $125,000 per unit.
SYLMAR, CALIF. — San Fernando Valley, Calif.-based Vallarta Supermarkets Inc., an American supermarket chain with a Hispanic emphasis, has acquired an 89,693-square-foot corporate headquarters and distribution facility in Sylmar. Located in the Golden Triangle at 12881 and 12883 Bradley Ave., the property offers 10 dock-high doors, 14,110 square feet of office space, 24 feet of minimum clear height in one of the buildings and on-site parking for 150 cars. The company plans to relocate to the new facility this fall. David Hoffberg and Jerry Scullin of Van Nuys, Calif.-based Delphi Business Properties represented the buyer; Ross Thomas, also of Delphi Business Properties, represented the seller, Hydrel Realty Partners, in the transaction. The acquisition price was not disclosed.