VALLEJO, CALIF. — Stanford Jones, Phil Saglimbeni and Sal Saglimbeni of Marcus & Millichap represented both parties in the disposition and acquisition of Blue Rock Village, a 560-unit multifamily community located at 1900-2000 Ascot Pkwy. in Vallejo. The property sold for $54.4 million or $97,143 per unit. The 448,256-square-foot property features a mix of one- and two-bedroom units offering a private balcony or patio, functional kitchen layouts, generous walk-in closets and covered parking. Additionally, the gated community features swimming pools, a spa, a fitness center and picnic areas. The buyer and the seller were not disclosed.
MODESTO, CALIF. — Save-Most Alicia Hills Ltd. and Foremost MacArthur Park LLC have completed the disposition of a seven-building industrial portfolio in Modesto. Totaling 884,754 square feet, the portfolio sold for $27.3 million. The portfolio consists of 214 Wieland Avenue, a 154,818-square-foot building that was purchased by Amir Development; 601 Riverside Avenue, a 231,101-square-foot building that was acquired by Amir Development; 427 Doherty Avenue, a 67,500-square-foot facility that was purchased by Benjamin Steele; 501 and 533 Doherty Avenue, a 51,676-square-foot building and an 82,500-square-foot building that were acquired by SaveMart Supermarkets; 2336 Doherty Avenue, a 171,250-square-foot facility that was purchased by Amir Development; and 2105 Nathan Avenue, a 126,000-square-foot building that was acquired by Dr. Stephen Endsley. Alan Pekarcik and Dan Vittone of Voit Commercial Brokerage’s Irvine, Calif., office, along with Mark Reckers of Lee & Associates, represented the sellers in the transaction.
ONTARIO, CALIF. — Safelite AutoGlass has signed a lease for 282,000 square feet of industrial space at ProLogis Park Ontario Airport in Ontario. ProLogis recently completed the 681,000-square-foot complex, which is located of Interstate 15 between Interstate 10 and Pomona Freeway. Safelite AutoGlass is the nation’s leading provider of vehicle glass repair and replacement services.
LOS ANGELES AND PETALUMA, CALIF. — NAI Capital’s Encino, Calif., office has recently completed two transactions in Los Angeles and Petaluma. In the first transaction, the Housing Authority of the City of Los Angeles acquired a 22,156-square-foot office property, which is located at 6946 Van Nuys Blvd. in Los Angeles. Kept LLC sold the property for $3.5 million. Cathy Scullin of NAI Capital represented the buyer; Grubb & Ellis represented the seller in the transaction. In the second transaction, Sixth and Union LLC purchased a portion of a 23,022-square-foot senior-living facility in a $1 million TIC investment. The facility, which specializes in dementia, is located at 750 N. McDowell Blvd. in Petaluma. J. Richard Leyner of NAI Capital represented the buyer; the seller, Wilkinson 1031 LLC, was self-represented in the transaction.
LEMON GROVE, CALIF. — Hitzke Development Corp. has purchased a 0.8-acre land parcel, which is located at 3595 Olive St. in Lemon Grove, for $2 million. The buyer plans to redevelop the property into Citronica Two, an 80-unit senior mixed-use development. Jason Smithson of NAI San Diego represented the buyer; the seller, Coach of San Diego Inc., was represented in-house.
SAN JOSE, CALIF. — Equity Office Properties has completed the disposition of a 143,000-square-foot industrial facility, which is located at 350 E. Plumeria Dr. in San Jose. Newport Beach, Calif.-based KBS REIT II purchased the property for $35.7 million or $250 per square foot. Constructed in 1986, the 8-acre property underwent a $6 million renovation in 2008. At the time of acquisition, the property was 100 percent leased to NetGear Inc.
EL CAJON, CALIF. — A partnership sponsored by R&V Management Corp. has acquired Coral Gardens, a 200-unit multifamily complex in El Cajon, for $19.75 million. Located at 425 E. Bradley Ave., the community offers one- and two-bedroom units ranging in size from 678 to 864 square feet. Additionally, the community features garages, a swimming pool and spa, a playground and on-site laundry facilities. The seller was Essex Property Trust. Ed Rosen, John Chu and Alejandro Lombrozo of Cushman & Wakefield represented both parties in the transaction.
Las Vegas — LM Construction Company has completed the shell construction on Building #21 in Arrowhead Commerce Center in Las Vegas. Located at the southwest corner of Sandhill and Post roads, the 148,000-square-foot building features 61-foot truck aprons, 9- by 10-foot dock doors, grade-level ramps and cross-dock capabilities. Additionally, the new building is divisible to 15,681 square feet. The 110-acre Arrowhead Commerce Center now totals more than one million square feet. The center is being developed by Los Angeles-based EJM Development. RGA Architects provided architectural services for the project.
NORWALK, CALIF. — Advanced Real Estate Services Inc., a TIC syndicator, has acquired The Courtyards, a 153-unit apartment community located at 12401 Studebaker Rd. in Norwalk, for $21.9 million. The garden-style community offers 72 one-bedroom/one-bath units and 20 three-bedroom/two-bath units. Additionally, the property features two swimming pools, a whirlpool spa, an arbor-covered picnic/barbeque area, a recreation room, a fitness center and two laundry facilities. Stewart Weston of Marcus & Millichap represented both parties in the transaction. Kennedy Wilson Multifamily Management Group sold the property.
AURORA, COLO. — Davis, Calif.-based Pilgrim Partners LLC has acquired Turnberry at Heather Ridge, a 268-unit apartment community located at 2038 S. Vaughn Way in Aurora. San Diego-based Fairfield Duck Creek LP sold the property for $15.1 million or $56,343 per unit. Built in 1972, the property offers one- and two-bedroom units ranging in size from 665 to 1,090 square feet. Community amenities include a clubhouse with a business center; carports; an on-site laundry facility; a playground; two heated pools; and a fitness center. John Laratta of Hendricks & Partners’ Denver office represented the buyer in the transaction.