SACRAMENTO, CALIF. — The Lofts Apartments, c/o The Reliant Group, has acquired The Lofts, a 188-unit apartment community located at 3351 Duckhorn Dr. in Sacramento. Built in 2005, the property sold for $18.5 million. The 13-building community features a mix of one-bedroom flats/lofts and two-bedroom flats/lofts. Amenities include a 24-hour fitness center, a clubhouse, a community event center, a playground, picnic and barbeque areas, a resort-style heated pool, a hydrotherapy spa, a coffee bar, a DVD library, 64 direct-access garages and 90 detached garages. The seller was The Lofts LP, c/o Pacific West Companies, and Reno, Nev.-based Hearthstone Housing Foundation. Mark Feldman of Hendricks & Partners’ San Francisco office represented both parties in the transaction.
CORVALLIS, ORE. — Regency Centers has leased space to Trader Joe’s, a specialty grocer, at Corvallis Market Center, which is located at NW 9th Street and NW Garfield Avenue in Corvallis. Construction for the 12,000-square-foot store is scheduled to begin in August with completion expected in late 2009. With the addition of Trader Joe’s, the 84,548-square-foot shopping center is 100 percent leased by national merchants.
SANTA CLARITA, CALIF. — Advanced Bionics, a U.S.-based manufacturer of cochlear implants, has signed a 10-year lease for Summit Oaks, a five-story office building located within Valencia in Santa Clarita. The 146,385-square-foot property is owned by the developer, which is a joint venture between Parker Properties and DEXUS Property Group. The tenant is consolidating two locations into the new space, which is located at 28515 Westinghouse Place. Craig Peters, Doug Sonderegger and Bennett Robinson, also of CB Richard Ellis, represented the tenant; Doug Marlow and David Solomon of CB Richard Ellis represented the owners in the transaction. The value of the lease was not disclosed.
GLENDALE, ARIZ. — Phoenix-based Irwin Union Bank has completed the $1.7 million disposition of Glen Park, an 88-unit multifamily property located at 6301 N. 64th Dr. in Glendale. The Class C property consists of 10 two-story buildings offering one-, two- and three-bedroom units, which average 795 square feet. Community amenities include covered parking, an on-site laundry facility, a pool, courtyards and landscaping. Ric Holway of Hendricks & Partners’ Phoenix office represented the seller. The buyer was not disclosed.
UKIAH, CALIF. — Santa Monica, Calif.-based Columbus Pacific Properties has acquired Ukiah Crossroads Shopping Center, a 110,000-square-foot retail center located at North State Street and US 101 in Ukiah. The center is anchored by a 61,046-square-foot Raley’s supermarket. The buyer was represented in-house by Phillip Duke; Dan Wald, Dave Nord, Steve Holm, Mark Koenig and John Schaefer of Terranomics Retail Services represented the seller, a joint venture between Kimco Realty Corp. and Prudential Real Estate Investors, in the transaction.
HAYWARD, CALIF. — Jesse Lucas of Lee & Associates represented an undisclosed buyer in the acquisition of a two-building package warehouse, which is located at 27,317 and 27279 Industrial Blvd. in Hayward. LRF Properties sold the 66,612-square-foot property for $5.5 million. The seller was represented by BT Commercial.
TOLLESON, ARIZ. — First Industrial Realty Trust has leased 98,230 square feet of distribution space to Holsum Bakery, a subsidiary of Flowers Foods Inc. Located at 9180 W. Buckeye Rd. in Tolleson, the space will be used to distribute Holsum Bakery’s breads, buns and rolls to locations throughout Arizona and California. The cross-docked facility features 29-foot clear heights, space for future expansion, large truck courts, trailer parking, frontage on Buckeye Road and proximately to Interstate 10 and the Loop 101 freeway. Gordon Rasmussen of Martin Property Advisors, along with Joe Porter, Pat Feeney, Dan Calihan and Rusty Kennedy of CB Richard Ellis, brokered the transaction.
IRVINE, CALIF. — AFCowan has purchased a 10,568-square-foot office property in Irvine. Located at 17772 Cowan, the property sold for $3.45 million. Greg Sargenti of Voit Real Estate Services represented the buyer; David Bolt and Chip Wright of CB Richard Ellis represented the seller, Carmen LLC, in the transaction.
SAN DIEGO — Carlsbad, Calif.-based Allgire General Contractors, serving as general contractor, has completed the construction of Studio 15, a $24.2 million multifamily property located at 70 15th St. in San Diego’s East Village area. The 122,462-square-foot property features 275 studio residences with a seating lounge area, underground parking, a resident café, a television room and interior courtyard amenities. The project was developed by Affirmed Housing Group. Rick Engineering Co. and Carrier Johnson also assisted with the project.
ORANGE COUNTY, CALIF. — The Leaverton Company has selected Essex Realty Management to provide leasing, property and construction management for its 800,000-square-foot Orange County portfolio of multi-tenant business parks. The currently 84-percent-occupied portfolio includes the 452,000-square-foot La Palma Business Park, the 102,000-square-foot Orangethorpe Business Park, the 197,000-square-foot Anaheim Business Park and the 50,000-square-foot L Business Park in Orange, Calif.