SEATTLE — Sea-Mar Community Health Center has acquired a 30,000-square-foot retail property, which is located at 9635 S. Des Moines Dr. in Seattle. Northshore sold the property for $4.6 million. Kurt Sorensen of GVA Kidder Mathews represented the seller; Brian Petro of Odella Pacific Properties represented the buyer in the transaction.
LA CRESCENTA, CALIF. — Emmanuel Ndu of Marcus & Millichap’s Encino, Calif., office represented Larry Rubenstein in the acquisition of Mountain View Townhomes, an 18-unit multifamily property in La Crescenta. Myron Lieberman and Arlene Lieberman sold the property for $3.9 million. Earle Hyman, also of Marcus & Millichap, represented the sellers in the transaction.
LAKEWOOD, COLO. — NorthMarq Capital Inc. has arranged $2.45 million in permanent financing for Academy Center, a four-story, multi-tenant office building in Lakewood. Located at 7175 W. Jefferson Ave., the 68,717-square-foot property was built in 1984. Steve Bye and Brian Smith of NorthMarq’s Denver office arranged the financing for the undisclosed borrower.
BOULDER, COLO. — Crown West Realty LLC has purchased a two-story office building in Boulder for $10.9 million. Located at 5775 Flatiron Pkwy., the property offers 96,000 square feet of office space. Invesco Real Estate sold the property, which was built in 1987. At the time of acquisition, the building was 96 percent occupied by a variety of tenants, including CH2M Hill, Konica-Minolta, Wall Street on Demand, Vexcel and SimAuthor Inc.
RANCHO DOMINGUEZ, CALIF. — First Industrial Realty Trust Inc. has leased its First Dominguez Gateway Center, a 214,000-square-foot distribution center in Rancho Dominguez, to DHL Excel Supply Chain, a major international third-party logistics provider and subsidiary of Deutsche Post. Located at 3015 E. Ana, the property offers several features that are unique to the South Bay submarket, such as a secured yard for trailer storage and two rail spurs. Ryan McClean and Jackie Baker led the First Industrial team on the lease transaction. Todd Taugner, Frank Schulz and David Bales of The Klabin Company also assisted with the transaction.
PALO ALTO, CALIF. — Brian Henry and Bryan Danforth of Marcus & Millichap’s Palo Alto office represented both parties in the disposition and acquisition of Mayfield Manor, a 38-unit multifamily building in Palo Alto. The transaction price was not disclosed; however, the final sales price was significantly more than the list price of $10 million or $263,985 per unit. Located at 408 Grant Ave., the 32,880-square-foot four-story building offers a mix of studio, one- and two-bedroom units. Community amenities include a swimming pool, a lounge area, a recreation room, a coin-operated laundry, a fire sprinkler system, underground parking and large balconies in every unit. The buyer and the seller were not disclosed.
LA JOLLA, CALIF. — Broadway & 9th LP has purchased a multi-tenant retail building located at 7643-7645 Girard Ave. in La Jolla for $6.6 million. The 10,700-square-foot property includes three local antique retailers: Ark Antiques, Pied-e-Terre and Skolout & Tilghman Estate Company. Mike Slattery of Grubb & Ellis|BRE Commercial represented the seller, Girard Avenue Investments LLC, in the transaction. The buyer was represented in-house.
YUBA CITY AND CITRUS HEIGHTS, CALIF. — TRI Commercial Property Management, a subsidiary of TRI Commercial/CORFAC International, has added two regional apartment communities to the company’s portfolio of managed properties. The portfolio now includes River Oaks Apartments, a 148-unit, Class A community located at 700 Bogue Rd. in Yuba City; and Sunrise Wood, a 168-unit complex located at 7911 Sunrise Blvd. in Citrus Heights. Sunrise Wood offers a mix of one- and two-bedroom units and individual in-unit laundry facilities, setting the complex apart from many of its competitors in the area.
ENCINITAS, CALIF. — Wiegand Neglia Corp. is developing Quail Corporate Center, an approximately 33,000-square-foot commercial project located at 662 Encinitas Blvd. in Encinitas. Designed by Hanna Gabriel Wells, the project consists of a single-story commercial office and/or medical condominium complex. Expected to be the first private LEED-certified building in Encinitas, the property will feature natural daylight and ventilation elements; an energy-efficient envelope and mechanical systems; reclaimed water for landscape irrigation and recycled material use. Completion is slated for second quarter 2009. Peter Curry and Matt Campbell of Grubb & Ellis|BRE Commercial are representing the property.
ALBUQUERQUE, N.M. — PCCP LLC has formed a joint venture with Salt Lake City-based Bridge Investment Group LLC to purchase a three-property multifamily portfolio located in the northeast quadrant of Albuquerque. The 426-unit portfolio includes the 267-unit Suncreek Village Apartments, which is located at 9900 Spain Rd.; Sungate Village Apartments, a 94-unit multifamily complex located at 10800 Comanche Rd.; and Rancho Verde Apartments, a 65-unit community located at 5800 Truchas Dr. The portfolio consists of 229 one-bedroom units and 197 two-bedroom units. Joe Romero of Grubb & Ellis represented the buyer; Paul Cauwels and Barbara Haase of Cauwels & Stuve Realty & Development Advisors LLC represented the seller, partnerships formed by Cauwels and Davis Associates, in the transaction. The acquisition price was not disclosed.