KENT, WASH. — Kimberly-Clark is consolidating and relocating its northwest regional distribution operations to East Valley Warehouse in Kent. The company has leased 516,000 square feet of industrial space at the distribution center, which is owned by AMB Properties Corp. The global health and hygiene company will occupy the space in September. Additional details of the transaction were not disclosed.
SANTA MONICA, CALIF. — La Montana Investors LLC has completed the disposition of La Montana, a 23-unit multifamily property located at 811 6th St. in Santa Monica. An undisclosed San Francisco-based buyer acquired the property for $7.55 million or more than $328,000 per unit. Built in 1972, the property offers one-, two- and three-bedroom units featuring hardwood-style flooring, fireplaces and ceramic-tiled kitchens. Vince Norris of Hendricks & Partners’ North Los Angeles office brokered the transaction.
PHOENIX — Phoenix-based Medical Monitoring Services has purchased a 23,455-square-foot Class A office building, which is located at 1606 W. Whispering Wind Dr. in Phoenix, for $3.3 million. The two-story office building is situated on approximately 1.15 acres in the Deer Valley submarket. The property features 19,455 square feet of Class A office space and a 4,000-square-foot, fully furnished warehouse with three roll-up doors, seated flooring and full air conditioning. The buyer plans to occupy a portion of the building. Todd Noel, Keith Lambeth, Charles Miscio and Michael Crystal of Colliers’ Phoenix office represented the buyer; Mike Ciosek, Eric Bell and Bob Lundstedt of Colliers International’s Scottsdale, Ariz., office represented the seller, Phoenix-based Happy Valley Office LLC, in the transaction.
CAMPBELL, CALIF. — SKP Properties has acquired Angela Court Apartments, a 17-unit multifamily community located at 2242 Angela Ct. in Campbell, for $2 million or $118,235 per unit. The property consists of a mix of 15 junior one-bedroom/one-bath units, one one-bedroom/one-bath unit and one two-bedroom/one-bath unit. Jamie D’Alessandro and Brian Henry of NAI BT Commercial’s Palo Alto, Calif., office represented the seller, Pacific Coast Residences One, in the transaction.
CULVER CITY, CALIF. — ICDC College has purchased a 24,086-square-foot office building, which is located at 5995 S. Sepulveda Blvd. in Culver City, for $7.9 million or $328 per square foot. Built in 1973 and renovated in 2004-05, the two-story property features a brick façade with subterranean parking. Andrew Jennison and Travis Landrum of Madison Partners represented the buyer and the seller, 5995 S. Sepulveda LLC, in the transaction.
PICO RIVERA AND MIRA LOMA, CALIF. — The Orange County, Calif., office of Q10|Dwyer-Curlett has arranged two transactions in Pico Rivera and Mira Loma. In the first transaction, Tom Kenny and Josh Boehling of Dwyer-Curlett arranged the $18.65 million sale of a 160,154-square-foot, single-tenant warehouse/distribution facility in Pico Rivera to The Guardian Life Insurance Company. In the second transaction, Kenny arranged $12 million in permanent financing on a 10-building industrial park in Mira Loma. Funded by Allianz of America Inc., the 10-year loan carries a 7.25 percent interest rate.
CHULA VISTA, CALIF., AND WILMINGTON, DEL. — Newmark Realty Capital has secured $21.4 million in financing for two multifamily communities in California and Delaware. The California asset is Rolling Hills Gardens Apartments, a 116-unit senior apartment complex located in the master-planned community of Rolling Hills Ranch in Chula Vista. The Delaware property is the 447-unit Village at Fox Point in Wilmington. Both properties were previously financed by Peter Welsh of Newmark Realty Capital with a correspondent life company. The new financing was placed with FNMA through Newmark’s correspondent Walker & Dunlop LLC.
SAN FRANCISCO — 2225 Jerrold LLC has purchased a 91,300-square-foot warehouse/distribution property in San Francisco. Located at 2225 Jerrold Ave., the property sold for approximately $11 million. The building was previously occupied by DBI Builders, who are relocating to South San Francisco. Scott Mason of NAI BT Commercial represented the undisclosed seller in the transaction.
VACAVILLE, CALIF. — Westrust has acquired the assets of Nut Tree Associates, the master planner of Nut Tree and Nut Tree Family Park in Vacaville. Westrust is currently developing the 30-acre, 333,000-square-foot Nut Tree Retail hybrid lifestyle/community center that encompasses the legendary Nut Tree road stop. Westrust plans to relocate key elements of Family Park, including the Nut Tree train, carousel and historic ice cream structure, into the historic Hackberry tree area of the retail center. Construction of Nut Tree Plaza, the new amusement and entertainment venue, commenced in June with completion scheduled for early August. Nut Tree Associates currently owns, or has options to purchase, the remaining approximately 36 acres of the original 77-acre master planned project.
AZUSA, CALIF. — Hodgdon-Miank Construction, serving as design-build contractor, has broken ground for the $4 million remodel of the 30,000-square-foot Carl E. Wynn Academic Center at Azusa Pacific University in Azusa. The project includes the gutting and renovation of the former Carl E. Wynn Science Center building on the campus’ east side. The remodeled center will be renamed Carl E. Wynn Academic Center. The new center will feature 11 classrooms, 30 administrative and staff offices, a 1,800-square-foot lecture hall, a conference room, a small library, a computer lab and workrooms, two focus rooms with a viewing area and a presentation room for new and prospective students and parents. Irvine, Calif.-based GAA is providing architectural services for the project. The new center is scheduled to open for classes in January 2010.