SEATTLE — Seattle-based West Lee LLC has purchased The Max, a 30-unit apartment community in Seattle, for $7.1 million or $236,667 per unit. Bellevue, Wash.-based Maxville Partners LLC sold the property, which is located at 8520 Evanston Ave. in Seattle. Kenny Dudunakis, John Shaw, Josh Blake and Heather Wade of Hendricks & Partners’ Seattle office represented the seller in the transaction.
GILBERT, ARIZ. — An undisclosed Southern California-based limited liability company has acquired a Wal-Mart Marketside Grocery Store, which is located at 838 W. Elliot Rd. in Gilbert. The 14,841-square-foot property sold for $4.59 million or $310 per square foot. Dave Wetta of Marcus & Millichap’s Phoenix office represented the buyer; Kevin Boeve and Lior Regenstreif, also of Marcus & Millichap, represented the undisclosed seller in the transaction.
CERRITOS, CALIF. — China-based Winco DWL Industries Co. has acquired a 44,172-square-foot industrial building, which is located at 12765 166th St. in Cerritos, for $4.8 million. The property features 3,638 square feet of office space, ample parking and immediate access to freeways 5 and 91. The buyer, which manufactures and imports kitchenware and tableware to restaurants and chefs worldwide, plans to use the property to house its West Coast distribution operations. Jonathan Fan of RE/MAX 2000 represented the buyer; Clyde Stauff of Colliers International represented the seller, Button Family Trust, in the transaction.
BREA, CALIF. — Gary Griggs and Brett Cervantes of Marcus & Millichap have completed the disposition and acquisition of North Hills Professional Plaza, an 11,800-square-foot office complex. Located at 255 W. Central Ave. in Brea, the property sold for $2.6 million. Built in 1997, the two-story property was 100 percent occupied at the time of acquisition to eight medical and professional tenants. The seller and buyer were not disclosed.
LAS VEGAS — CommCap Advisors LLC has funded a $7 million loan for Four Mile LLC. The 10-year, fixed-rate loan was secured by the Miracle Mile Mobile Home Park, which totals 464 pads plus an in-line retail building. The property is located on 3642 Boulder Highway in Las Vegas. RiverSource Life provided the financing.
LOS ANGELES — The CB Richard Ellis Senior Housing Services Group has completed the sale of a 45-property senior-living portfolio. The 3,554-unit portfolio sold for approximately $364 million. The properties are located in Alabama, Arizona, California, Colorado, North Carolina, Oregon, South Carolina, Tennessee, Texas, Washington and Wyoming, and offer independent living, assisted-living services and dementia care. Additionally, the communities were approximately 85 percent occupied at the time of sale. “The deal took over six months to complete,” says Matthew Whitlock of CBRE Senior Housing Services Group. “The buyer, seller and existing lender worked diligently to find terms agreeable to all interests. Due to the lack of liquidity in the current environment, this transaction was heavily dependent upon the purchaser and existing lender working out mutually agreeable assumption terms of the existing in-place debt.” Whitlock, David Rothschild and Mary Christian of CBRE represented the seller, affiliates of Sunwest Management, and procured the buyer, a private equity firm. LaVida Communities, a member of the Solana Beach, Calif.-based Senior Resource Group family of companies, will manage the communities.
SAN DIEGO — ATTIQ Investments LLC has acquired Sweetwater Village, a 43,400-square-foot retail center located at 3505-3515 Sweetwater Springs Blvd. in San Diego’s Spring Valley area. Gladstone LLC and West Palm Blackpoint Associates LP, dba Westcore Properties, sold the asset for $6.2 million. The new owner will occupy a 28,000-square-foot space, which was formerly occupied by Frog’s Club One. The center is currently leased to a variety of tenants, including Help-U-Sell, Baskin Robbins, Nail Express and Shear Talent Salon. Brad Ihde of USA Realty and Loans represented the buyer; Pete Bethea, John Jennings and David Bradley of Cushman & Wakefield represented the seller in the transaction.
CALIFORNIA — Newmark has arranged financing totaling $14 million for four properties located in California. The first two loans totaling $10 million were secured for two single-tenant big box retail buildings in Southern California. The third loan totaling $1.32 million was arranged for a 20,000-square-foot office/warehouse facility located in San Francisco. The final loan totaling $2.75 million was secured for a 56,850-square-foot industrial building located in Stockton, Calif. Eric Von Berg of Newmark arranged the financing.
ANAHEIM, CALIF. — Ron Duong of Marcus & Millichap has brokered the sale and acquisition of Lincoln Brookhurst Shopping Strip in Anaheim. Located at 2175 W. Lincoln Ave., the 10,300-square-foot property sold for $1.32 million. Built in 1956, the asset was 100 percent occupied with four tenants at close of escrow. The seller and buyer were not disclosed.
SAN DIEGO — InterContinental Hotels Group (IHG) is developing a Hotel Indigo in San Diego’s historic Gaslamp Quarter. The flagship hotel, only the second California location, will feature 210 rooms, including five suites, a rooftop terrace with a reflection pool, fire pits, soft seating, a Phitness Studio with cardio equipment and free weights, Phi, a casual gourmet restaurant, and views of the San Diego skyline and Petco Park. Slated to open this summer, the property will be managed by The Hotel Management Group, IHG’s Americas operations division.