SAN MARCOS, CALIF. — Ledcor Construction Inc. has completed the construction for Windy Point Corporate Center, a 466,918-square-foot campus located at 750 Windy Way in San Marcos. The building will serve as the sports medicine school for Saint Augustine University. The campus comprises two two-story buildings totaling 68,000 square feet. The project is owned by Windy Point Partners LP. Project partners include McArdle Associates Architects, KLT Consulting Structural Engineers, D.A. Whitacre Construction, San Diego Air Conditioning, William Rogers Drywall, A&M Reinforcing Specialists Inc., Qualltech Concrete Inc., Pacific Coast Iron, Bergelectric Corp. and Vision Systems Inc.
SAN DIEGO — Sharp HealthCare, a not-for-profit integrated regional healthcare delivery system, has selected Grubb & Ellis to provide property management services for two owned and three leased properties in the San Diego area. The 500,000-square-foot portfolio includes the 190,000-square-foot 8695 Spectrum Center Blvd.; the 95,000-square-foot 5525 Grossmont Center Dr. in La Mesa; 150,000 square feet of space at 4000 Ruffin Rd; 54,000 square feet of space at 3571 and 3572 Corporate Court; and 10,000 square feet of space at 3558 Ruffin Rd. Additionally, Grubb & Ellis will provide lease administration services for 80 Sharp HealthCare leaseholds throughout San Diego County. Glenn Fibiger, portfolio manager with Grubb & Ellis’ Western Region in the company’s Poway, Calif., office, will lead the property management.
CENTENNIAL, COLO. — Barry Higgins and Taylor Turano of Marcus & Millichap’s Denver office represented both parties in the disposition of Southglenn Plaza, a multi-tenant office property located in Centennial. An undisclosed limited liability company acquired the property for $3.12 million. Located at 2305 E. Arapahoe Rd., the property was 70 percent occupied at the close of escrow. The seller was not disclosed.
BEVERLY HILLS, CALIF. — Newmark Realty Capital Inc. has arranged $30 million in permanent financing for the fee interest in the Beverly Hills Four Seasons Hotel. The hotel, which is located at 300 S. Doheny Dr., offers 285 rooms. George Mitsanas and Monique Monzon of Newmark Realty Capital arranged the financing. Specific terms of the transaction were not disclosed.
SAN DIEGO — Jomola Investments Inc. has acquired a 6,513-square-foot office property, which is located at 6225 Lusk Blvd. in San Diego’s Sorrento Mesa district. Pearson Family Trust sold the property for $2.2 million. Glenn Arnold and Todd Murphy of Grubb & Ellis|BRE Commercial represented both parties in the transaction.
COMMERCE, CALIF. — Newport Beach, Calif.-based Western Realco is developing Randolph Business Center, a $40 million distribution facility located at 5959 Randolph St. in Commerce. The 400,000-square-foot facility will feature 30-foot clear heights, an ESFR, 59 dock-high loading spaces, skylights, 356 on-site parking spaces, a 165-foot deep secured service yard and the ability to accommodate up to 10,000 square feet of office space. Tustin, Calif.-based Bastien and Associates Inc. is providing architectural services for the project, which is slated for completion in May 2009. Whittier, Calif.-based Oltmans Construction Co. is serving as general contractor.
DENVER — Houston-based The Hanover Company, in partnership with MetLife Inc., is developing Acoma, a 17-story residential tower located in Denver’s Golden Triangle district. Located at 816 Acoma, the project features one- and two-story residences with open layouts, ranging in size from 792 to 2,659 square feet, and 10- to 20-foot ceilings. The property also features a plush E-Lounge with HDTV, billiards and a dual-sided fireplace; a gourmet kitchen with intimate seating and personal wine lockers; a private screening room with surround sound and leather club seating; and an executive conference room and business center. Additionally, the project features the Sky Lounge, which offers indoor/outdoor fitness and entertaining space, including a heated pool with in-water chaise shelf, spa and seasonal towel service; a fireplace and grilling area; a fire pit with seating and views of the Rocky Mountains; trellised terraces; multiple seating areas and dining lanai; and a spa-inspired aqua lounge with poolside fitness center. Move-ins are slated to begin in February 2009.
STOCKTON, CALIF. — Opus West Corp. has completed the first phase of Opus Logistics Center – Stockton (OLC). Located on 474 acres in central Stockton, the completed phase offers two speculative buildings comprising approximately 388,000 and 736,000 square feet. The facilities feature cross-dock loading areas, 32-foot clear heights, ESFR fire sprinklers, and ample truck and trailer parking. The site is also a State Enterprise Zone and a Foreign Trade Zone. When complete, the industrial campus will consist of approximately 13 build-to-suit and spec buildings totaling more than 8.2 million square feet. Opus West Architects & Engineers and Ware Malcomb are serving as architects for OLC; Opus West Construction Corp. is serving as general contractor.
PHOENIX — Cole Credit Property Trust III Inc. (CCPT III) has commenced sale of approximately $2.5 billion in common stock. CCPT III is offering up to 230 million shares of its common stock for sale at $10 per share and up to an additional 20 million shares of its common stock for issuance under its distribution reinvestment program at $9.50 per share. The trust plans to use the net proceeds to acquire freestanding, single-tenant and multi-tenant retail properties net leased to investment grade and other creditworthy tenants. CCPT III is a non-traded, real estate investment trust (REIT), which focuses on the acquisition and management of a diversified portfolio of retail real estate. Cole Capital Corp. will manage the 250 million share best efforts offering.
HUNTINGTON BEACH, CALIF. — DJM Capital Partners Inc. has received approval from the city of Huntington Beach for the development of The Village at Bella Terra, a mixed-use project offering retail and residential space. Located within Bella Terra, the project will offer 138,000 square feet of ground-level retail space with 700 residential units above. The Village is the final phase of DJM Capital’s Bella Terra, which includes an 800,000-square-foot retail center and the 428,244-square-foot office complex. The new portion will feature a resort-style pool, secluded courtyards and gardens, and Village Green, an acre green space offering a children’s playground.