LONG BEACH, CALIF. — The West Coast Division of Suffolk Construction Co. has been selected by the Los Angeles Unified School District (LAUSD) for the construction of a $106 million high school project in Long Beach. South Beach High School #4 will consist of a high-end, four-story building offering 67 classrooms, a library, a gymnasium, a food service area, indoor and outdoor dining spaces, a multipurpose room and a subterranean 163-car parking structure. Additionally, the 13.7-acre site includes football and baseball fields, a jogging track, bleachers, basketball courts, a stadium, maintenance and operations building, hardscape and off-site improvement work. Construction began in June and completion is slated for April 2011.
Western
PUEBLO, COLO. — Grubb & Ellis Realty Investors LLC, on behalf of tenant-in-common investors (TIC), has completed the disposition of Pueblo Shopping Center in Pueblo. Raymond Plaza LLC acquired the property for an undisclosed price. Located at 102-240 29th St., the 106,200-square-foot center is anchored by King Soopers, a regional grocery store operated by Kroger Co. This transaction is the 54th securitized 1031 TIC exchange program taken full-cycle by Grubb & Ellis Realty Investors. Riki Hashimoto of Grubb & Ellis Company and John Rance of Rance Commercial brokered the transaction.
SAN MARCOS, CALIF. — Ledcor Construction Inc., serving as general contractor, is constructing the first phase of San Elijo Town Center, an approximately 40,000-square-foot mixed-use development located in the San Elijo community of San Marcos. Being developed by San Elijo Town Center LLC, the first phase will feature three three-story buildings, each with 4,000 square feet of retail at ground level, and 7,300 square feet of two-story residential space above. Architects B.P. Associates Inc. is providing architectural services; Hunsaker & Associates is serving as civil engineer; HTK is serving as structural engineer; Fashandi & Associates as MEP engineer and ONA is providing landscape architectural services for the project.
SAN DIEGO — Johnson & Jennings General Contracting has completed construction of a 43,000-square-foot corporate office headquarters for National Pen Co. LLC. Located at 12121 Scripps Summit Dr. in San Diego, the $2.3 million project included build-out of 1.5 floors for corporate offices, a marketing department, training rooms and meeting facilities. Architectural features include upgraded lighting, flooring and millwork finishes. Marianne Berg of Carrier Johnson + Culture provided architectural services for the project. Transwestern is the building owner and property manager.
PEWAUKEE, WIS. — James Young of Colliers Barry has represented Guacamole LLC in the acquisition of a 17,800-square-foot office facility within the Bluemound East Business Park located at W223N608 Saratoga Rd. in Pewaukee. S.E.D. Partners, which was represented by Scott Furmanski of CB Richard Ellis, has sold the building for an undisclosed amount. Guacamole will occupy a portion of the property, with 6,000 square feet of Class B office space available for additional tenants. Diversified Insurance, the former tenant in the property, will lease space in a nearby office building.
RENO, NEV. — Chesapeake Real Estate Investors, a fund managed by Legg Mason, has acquired Brookside Corporate Center, a 261,296-square-foot industrial complex located in Reno. Scannell Properties sold the three-building portfolio for $20.7 million. At the time of acquisition, the newly constructed property was 43 percent occupied. Aiman Noursoultanova of CB Richard Ellis represented the seller in the transaction.
CALABASAS, CALIF. — Cypress Retail Group and Dollinger Properties have broken ground for the construction of The Summit at Calabasas, the first privately-funded green retail center in Calabasas. Located along the 101 Freeway at Lost Hills Road, the 70,000-square-foot center will be anchored by a 20,000-square-foot The City, an upscale electronics store operated by Circuit City. Approved by the city council in March, the center follows Calabasas’ green building ordinance. Tenant space is slated for delivery at the end of first quarter 2009, with the center opening in July 2009.
SCOTTSDALE, ARIZ. — A private investor from Regina, Saskatchewan, Canada, has purchased Fountain Villas, a 20-unit apartment community in Scottsdale, for $3.1 million or $155,000 per unit. Located at 7325 E. Belleview St., the four-building community offers two studio units, 16 two-bedroom/one-and-a-half bath units and two three-bedroom/two-and-a-half bath units. At the time of acquisition, the property was 100 percent occupied. Robin Orscheln of Sotheby’s International Realty represented the buyer; Jeff Sherman and Bill Hahn of Sperry Van Ness’ Phoenix office represented the seller, a private investor from Phoenix, in the transaction.
CARSON, CALIF. — Brad Mahoney and Lane Schwartz of Marcus & Millichap have represented the undisclosed seller in the disposition of an industrial office warehouse property in Carson. An undisclosed buyer purchased the 18,647-square-foot property for $2.4 million. Built in 1961, the property is located at 18220 S. Broadway St.
SAN DIEGO — Sanison LLC has acquired two flex units totaling 4,630 square feet from Green Arrow LLC for $1.25 million or $270 per square foot. The units are located within the 155,000-square-foot industrial/R&D development Kearny Mesa Complex at 8975 Complex Dr., Units 4-1 and 4-4 in San Diego. Doug Works and Bill Dolan of CB Richard Ellis represented the seller; Ryan Bracker and Jon Boland of Voit Commercial represented the buyer in the transaction.