STEAMBOAT SPRINGS, COLO. — The Atira Group is investing $875 million in two Steamboat Springs developments: Edgemont and Thunderhead/Ski Time Square. The company is investing $175 million in Edgemont, a direct ski-in/ski-out community located on the edge of the Steamboat Ski Resort. With building completion slated for 2010, the project will offer one- to five-bedroom residences. Additionally, the development features an outdoor heated pool and hot tubs, a fitness center and sauna, a family room with pool tables and foosball and a community barbeque and fire pit. Additionally, The Atira Group is investing $700 million in the redevelopment of Thunderhead/Ski Time Square. Under development in a joint venture with Cafritz Interests, the 7-acre site will offer ski-in/ski-out access to a new pedestrian-friendly mixed-use development along Burgess Creek.
Western
LAS VEGAS — Las Vegas-based Crisci Builders, acting as general contractor, has completed the construction of The Dr. Miriam & Sheldon G. Adelson School, an independent Jewish high school located at 9700 W. Hillpointe Rd. in Las Vegas' Summerlin area. The 135,000-square-foot facility features classrooms with integrated media technology and computers, a media center and research library, music and art facilities, a performing arts center, a high-tech computer center and a full-service dining facility. Additionally, the 13.7-acre property features a physical education facility with a competition-size swimming pool, a regulation-size basketball court, an indoor track, a volleyball court, outdoor tennis courts and a soccer field. Phoenix-based DLR Group provided architectural services for the $55 million project.
TORRANCE, CALIF. — Kyle Matthews of Marcus & Millichap’s Encino, Calif., office represented the undisclosed seller in the disposition of a Rite Aid location in Torrance. The 26,400-square-foot, net-leased property sold for $4.12 million. Additionally, Matthews represented the undisclosed buyer in the transaction.
ONTARIO, CALIF. — The City of Ontario has unveiled its new Citizens Business Bank Arena, an entertainment and sports destination in Ontario. Located at 4000 Ontario Center Pkwy., the 225,000-square-foot venue offers 9,500 fixed seats and portable risers to accommodate approximately 11,089 spectators for concerts, 9,736 for hockey and 10,832 for basketball. The center, which is owned/built by the city of Ontario and operated by AEG, is home to Ontario Reign, the area’s ECHL hockey team. Additionally, the arena is the centerpiece of Piemonte at Ontario Center, an urban, mixed-use development.
RANCHO CUCAMONGA, CALIF. — Rancho Cucamonga-based Workforce Homebuilders LLC, in partnership with National Community Renaissance and Hope through Housing, has broken ground for the construction of Villaggio at Route 66, a master-planned 166-unit mixed-income apartment community in Rancho Cucamonga. The Tuscan-inspired project will consist of 100 two-bedroom units and 66 three-bedroom units ranging in size from 887 to 1,088 square feet and offering Energy Star appliances, wiring for high-speed Internet access, an outdoor patio/balcony and garage. Approximately 80 percent of the units are set aside for individuals earning 35 to 60 percent of the area’s median income. KTGY Group Inc. Architecture and Planning are providing architectural services for the project.
SAN DIEGO — Johnson & Jennings General Contracting has completed the construction of a 43,000-square-foot corporate office building for National Pen Co. LLC. Located at 12121 Scripps Summit Dr. in San Diego, Johnson & Jennings was responsible for a build out comprising 1.5 floors for corporate offices, a marketing department, training rooms and meeting facilities. Marianne Berg of Carrier Johnson + Culture provided architectural and design services for the $2.4 million project. Transwestern is the building owner and property manager.
CHINO, CALIF. — American Landscape has acquired an 18,698-square-foot multi-tenant industrial facility, which is located at 15090 La Palma in Chino. The transaction was valued at approximately $2.3 million. The buyer plans to use the facility for a landscaping contracting services business. Jeff Bethel of Lee & Associates represented the buyer; Nicholas Chang and Richard Lee of NAI Capital’s Ontario, Calif., office represented the sellers, Robert and Patricia Ingersoll, in the transaction.
LOS ANGELES — Frankfurt, Germany-based DekaBank Deutsche Girozentrale recently closed a $175 million loan for Hines US Office Value Added Fund II LP for the acquisition of Citigroup Center, a 48-story office tower in downtown Los Angeles. Located at 444 Flower St., the 891,056-square-foot property was sold by Broadway Partners. The building was built in 1981 and designed by A.C. Martin & Associates. At the time of acquisition, the property was 93 percent leased.
CARLSBAD, CALIF. — Ledcor Construction Inc. has completed tenant improvement (T.I.) construction for the new 45,000-square-foot medical office facility at Scripps Health, which is located within the Carlsbad Medical Center in Carlsbad. The new facility features a radiology section, nurses call stations, extensive radiused walls and custom millwork. Ledcor was retained directly by Scripps Health for the $3.75 million project. Perkins & Will provided architectural services.
EL MONTE, CALIF. — Los Angeles-based Sonnenblick-Del Rio Development LLC has completed the disposition of its recently completed Flair Plaza Shopping Center, which is located at 9150 Flair Dr. in El Monte. Korean-based Yoojin LLC purchased the 26,000-square-foot property for $13 million or $500 per square foot. The property is currently tenanted by Starbucks Coffee, Del Taco, Jack in the Box, California Sushi, Quiznos Sub, FedEx, Kinkos, Verizon Wireless and LA Federal Credit Union. Escondido, Calif.-based 11 Western Builders served as general contractor for the project. Chris Sands of Marcus & Millichap represented the seller; John Coquelet of Caliber Properties represented the buyer in the transaction.