RIVERSIDE, CALIF. — Los Angeles-based Sunnycreek LLC has acquired Copper Lantern Center, a 34,644-square-foot retail strip center located at 8151-8201 Arlington Ave. in Riverside. Orange, Calif.-based Copper Lantern Holdings sold the multi-tenant property for $3.8 million. The 19-tenant property is anchored by 7-Eleven. Jeremy McChesney of Hanley Investment Group represented both parties in the transaction.
ESCONDIDO, CALIF. — The Carlsbad, Calif., office of Lee & Associates-North San Diego County has brokered the sales of two industrial properties in Escondido for a combined consideration of approximately $3.22 million. In the first transaction, Isaac Little and Randy Dalby of Lee & Associates represented The Gary D Vest Revocable Trust in the disposition of a 7,020-square-foot industrial building, which is located at 1134 Industrial Ave. Joe Crotty of Coldwell Banker Commercial represented the buyer, Bennet Glass, in the $1.02 million acquisition. In the second transaction, 1011 Andreasen LLC purchased an 18,830-square-foot industrial building located at 501 S. Andreasen Dr. for $2.2 million. Adam Robinson, Tom Blackmore and Tim Arguello of Lee & Associates represented the buyer and the seller, Paul Ostrowiecki, in the transaction.
CHULA VISTA, CALIF. — Newmark Realty Capital has arranged $4.3 million in permanent financing for South City Business Center in Chula Vista. Situated in San Diego County, the 168,000-square-foot multi-tenant industrial park comprises six buildings. Thomas Dudley of Newmark Realty arranged the financing for the 10-year loan. Additional terms of the loan were not disclosed.
CAMARILLO, CALIF. — Camarillo Mountain View LLC has acquired Mountain View Apartments, a 106-unit multifamily property in Camarillo. Palo Alto, Calif.-based Essex Portfolio Properties sold the community for $14 million. Located just north of the 101 Freeway, the property offers one- and two-bedroom units, a pool, a fitness center, a clubhouse and picnic areas. Dean Zander and Vince Norris of Hendricks & Partners represented the seller in the transaction.
ANAHEIM, CALIF. — The Mother Colony Group LLC has purchased Anaheim RV Village, a 293-site, 3-star RV resort in Anaheim. The property sold for $10 million, which included the 1.66-acre commercial corner at the intersection of Ball Road and Harbor Boulevard. The 9.27-acre property offers 274 RV lots with drains, 19 campsites with a full amenity package and a signal-controlled commercial corner with two retail rental units. Don Nourse of CB Richard Ellis represented the buyer; Douglas Danny of Marcus & Millichap represented the seller, WB Parc Anaheim LLC, in the transaction.
RIVERSIDE, CALIF. — Third Street Plaza LLC has acquired the fee-simple ownership in the land leased to a single-tenant triple-net Fresh & Easy Neighborhood Market in Riverside. Newport Beach, Calif.-based HEC-Orangecrest LLC sold the property for $2.47 million. The 14,500-square-foot freestanding building is located at 8765 Trautwein Rd. within Orangecrest Towne Center. Fresh & Easy is a subsidiary of United Kingdom-based Tesco. A.J. Nay and Kurt Schneiter of Maverick Investments represented the buyer; Edward Hanley and William Asher of Hanley Investment Group Real Estate Advisors represented the seller in the transaction.
PLEASANT HILL, CALIF. — Kevin Turner of Marcus & Millichap’s Oakland, Calif., office represented the undisclosed buyer in the acquisition of Oak Park Manor, an apartment community located at 1808 Oak Park Blvd. in Pleasant Hill. The 40-unit property sold for $5.5 million. The community features a swimming pool, and each apartment features a fully equipped kitchen, a private balcony/patio, and central heating and air conditioning. The seller was not disclosed.
LEMON GROVE, CALIF. — Community Collective and the city of Lemon Grove have completed the development of Citron Court, a 36-unit multifamily community located at 7385 Broadway in Lemon Grove. The five-building community features studio, one-, two- and three-bedroom units; 2,200 square feet of commercial/retail space; an on-site management office; a community meeting room; a computer learning center; a children’s play area and a laundry room. The eco-friendly property utilizes a photovoltaic system, ENERGY STAR-rated appliances, low-flow water fixtures, dual-flush toilets and Low-E windows. Allgire General Contractors served as general contractor for the project, which was designed by Foundation for Form.
MCCLELLAN PARK, CALIF. — McClellan Park, a 3,000-acre mixed-use development in McClellan, has received a $95 million secured credit facility from Wells Fargo Bank. The facility was arranged with the participation of Bank of America, Safe Credit Union and River City Bank. The new facility is for up to a 5-year term and provides up to $95 million through a revolving line of credit. McClellan Park features an airport, a full-service hotel, a fitness facility, a rail system and dormitories, as well as office, industrial and retail space. The project, which is entitled for more than 16 million square feet of commercial, retail, office and residential buildings, consists of 8.5 million square feet of useable buildings and 500 acres of developable land.
TUSTIN, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.6 million loan for the refinancing of two multifamily properties in Tustin. The two properties offer a total of 117 apartment units. Michael Derk arranged the financing on behalf of the undisclosed borrower. Terms of the loan include a fixed rate of 6.25 percent for the first 5 years, a 30-year amortization schedule and a 65 percent loan-to-value.