Western

HENDERSON, NEV. — Voit Development Company has completed the final phase of Pacific Business Center, as a third-party fee development project, for Northwestern Mutual Investments/Life Insurance. Located on American Pacific Drive in Henderson, the 13-building project offers 898,389 square feet of commercial space. The final phase consists of two mid-bay buildings and one distribution building totaling 216,317 square feet. Park amenities include dock levelers, skylights, evaporative coolers and metal halide lighting. The property also features on-site management. Tim Regan of Voit Development served as project manager for the fee development at Pacific Business Center. Kevin Higgins, Steve Paravia and Garrett Toft of Voit Commercial Brokerage’s Las Vegas office are marketing the project, which is owned by Northwestern Mutual Investments/Life Insurance.

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CHANDLER, ARIZ. — Ryan Companies US Inc. is developing a 130,708-square-foot spec warehouse facility at the Chandler Freeways Business Park in Chandler. Located off of the Loop 202 Santan Freeway and 56th St., the project will be the fifth building at the company’s 58-acre master-planned business park. Designed by Balmer Architecture Group, the building features 28-foot clear ceiling heights, cross docks, ESFR capabilities and a floor plate that is divisible into eight tenant suites. Construction is expected to take 7 months and completion is slated for May 2009.

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ONTARIO, CALIF. — Los Angeles-based Las Vegas Land & Development Company has acquired a fully occupied, 60,000-square-foot portion of The Marketplace at Ontario Mills, which is located at 4155-4195 Inland Empire Blvd. and 750 N. Ferrari Ln. in Ontario. Newport Beach, Calif.-based Peninsula Retail Partners sold the property for $18 million. The property consists of four furniture stores: CORT Furniture Rental, Ortho Mattress, Bassett Furniture and Easylife Furniture. Jeff Conover of Irvine, Calif.-based Faris Lee Investments represented the seller/developer in the transaction.

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LOWRY, COLO. — Stanisz Development is developing Spruce Street Place, a professional/medical office and retail project in Lowry. Located at the corner of First Avenue and Spruce Street, the 21,268-square-foot building will offer 10,013 square feet of retail space on the ground level and approximately 11,255 square feet of professional office/medical space on the second floor. Additionally, a second phase of construction will include a freestanding 4,000 to 8,000-square-foot building, which will be located at the corner of Ultser Court and East First Avenue. Completion is slated for late summer of this year. Alan Ford Architects provided architectural services for the project. Rick Egitto, Gary Garcia and Megan Maddocks of Crimson Services are marketing the project.

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SANTA MONICA AND LOS ANGELES, CALIF. — Tony Azzi of Marcus & Millichap’s West Los Angeles office represented both parties in the sale and acquisition of a 10-unit multifamily property located in Santa Monica. Located at 827 Third St., the 8,404-square-foot property, which was built in 1958, sold for $3 million. Additionally, Richard Ringer of Marcus & Millichap’s West Los Angeles office represented the seller in the disposition of a 17-unit multifamily property located in Los Angeles. Built in 1987, the 23,376-square-foot property sold for $5.93 million. The property is located at 11513-11515 Rochester Ave. The seller and buyer were not disclosed.

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SEAL BEACH, CALIF. — Los Angeles-based Overton Moore Properties has completed the sale of three industrial buildings at Pacific Gateway Business Center in Seal Beach for a total of $38.8 million. Jerry Turpanjian acquired 1709 Apollo Ct.; Affliction Clothing purchased 1779 Apollo Ct; and Magtek, a world electronic transaction technology company, acquired 1710 Apollo Ct. The sold buildings total 240,089 square feet of high-image space. Brian DeRevere, John Schumaker, Ryan Peterson, Jeff Morgan and Bob Goodmanson of CB Richard Ellis are marketing the project.

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PASADENA, CALIF. — Los Angeles-based IDS Real Estate Group has completed the $2.8 million renovation and restoration of 80 South Lake Avenue in Pasadena. The eight-story building offers 71,500 square feet of office space. The company restored and upgraded the building to Class A standards by renovating the exterior, the parking structure, building lobby, exterior landscaping, common areas and restrooms. Additionally, IDS rehabbed the interior corridors with architectural photographs collected from the Pasadena Museum of History. Several design firms worked on the project, including Los Angeles-based Wirt Design, Pasadena-based SKA Design and Culver City, Calif.-based LRM Landscape Architecture. Ontario, Calif.-based Jaska Building Systems served as general contractor. The building is currently 95 percent occupied by a variety of tenants such as Wells Fargo Bank, Starbucks Coffee and E-Z Delta.

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LANCASTER, CALIF. — Dennis Marciniak and Larry McEwan of DAUM Commercial Real Estate Services represented the seller, Larwin Investment Co., in the disposition of two industrial buildings located at Fox Field Business Park in Lancaster. Burbank, Calif.-based McLain Holdings Group has acquired a 14,659-square-foot industrial facility, which is located at 4516 Runway Dr., for $1.28 million. The company intends to use the property as a storage facility for its media archives. David Young and Chad Gahr of NAI Capital represented the buyer. Additionally, Pacoima, Calif.-based Me Gusta Mexican Food Specialists, a manufacturer of Mexican foods, purchased a 6,448-square-foot industrial property, which is located at 4528 Runway Dr., for $761,000. The company plans to use the facility to manufacture a variety of Mexican foods. Claudia Gil of Guido Gil and Associates represented the buyer in the transaction.

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