VISTA, CALIF. — Hillsborough, Calif.-based Mitchel S. Berger and Joan L. Berger recently completed the disposition of Sunglen Vista, a 34-unit apartment community located in at 1550 South Santa Fe Ave. in Vista. San Diego-based Sunglen Vista LLC/Harlan T. Stratton/Barbara Ann Stratton/Jeffrey Oesterle purchased the property for $3.53 million. Built in 1980, the property features three two-story buildings offering 24 one-bedroom/one-bath units and 10 two-bedroom/one-bath units. Allen Chitayat and Josh Browar of Hendricks & Partners’ San Diego office represented the seller in the transaction.
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MESA, ARIZ. — A Northern California-based family trust has acquired a Wal-Mart Marketside Grocery store location, which is located at 7561 E. Baseline Rd. in Mesa, for $5.39 million. The 16,854-square-foot retail property is situated on 2.1 acres. Jack Schneider and Joel Hecht of Darrow Talbert Realtors represented the buyer; Kevin Boeve and Lior Regensteif of Marcus & Millichap represented the seller, a Southern California-based LLC, in the transaction.
SAN DIEGO — San Francisco-based Jay Paul Co. is developing a Class A office building at Summit Rancho Bernardo. Located at 16600 W. Bernardo Dr. in San Diego, the five-story, 196,734-square-foot property has been designed to achieve LEED Gold Certification. The building is the first phase of the company’s mixed-use project, which will feature 11 officer towers in an amenity-rich campus. Rudolph and Sletten Inc. is serving as general contractor for the project, which is slated for completion in mid-April. Brent Wright and Chris Pascale of CB Richard Ellis are marketing and leasing the project.
BREA, CALIF. — Los Angeles-based Klorman Construction has been selected as design/build general contractor to design a four-level, 480-car parking structure in Brea. Located at 551 W. Imperial Highway, the structure will feature flat-plate, post-tensioned concrete decks over a post-tensioned, concrete mat slab foundation. Mercury Insurance Group contracted Klorman for the project, which is slated for completion in November.
AVONDALE, ARIZ. — Crescent Avondale LLC has acquired an 11,054-square-foot industrial property, which is located at 961 Eliseo Felix Way in Avondale. Situated on 3.93 acres, the property sold for $4.1 million. Thomas Semancik of Coldwell Banker Commercial Metro Central represented the buyer; Mark Phillips of Sperry Van Ness represented the seller, VJ Avondale LLC, in the transaction.
LOS ANGELES — Los Angeles-based MerueloMaddux, a self-managed, full-service real estate company, along with a number of its subsidiaries, has filed, or will be filing, for voluntary petitions for relief under Chapter 11 Bankruptcy Code in California. The company plans to implement a comprehensive reorganization to restructure its debt. Excluded from the filing is the company’s 35-story 717 West 9th Street Tower, a residential tower project in Los Angeles that is currently under construction. The company expects to continue to manage its real estate portfolio and does not currently anticipate any disruption to its tenants.
MORENO VALLEY, CALIF. — Springfield, Mo.-based O’Reilly Automotive Inc. has acquired a 408,000-square-foot distribution center, which is located at 24520 San Michele Ave. within San Michele Distribution Center in Moreno Valley. The property sold for $25 million. The buyer plans to house a state-of-the-art conveyor system in the space. Jeff Hubbard and Scott Ostlund of Lee & Associates represented the seller, Springfield-based Ozark Automotive Distributors, in the transaction.
LYNWOOD, CALIF. — Maurius Jeffrey of Marcus & Millichap brokered the disposition and acquisition of a 13-unit apartment building in Lynwood. Located at 3582 Brenton Ave., the property sold for $1.3 million. The asset features seven one-bedroom/one-bath units, five two-bedroom/two-bath units, a two-bedroom/two-bath unit, individual garage parking and an enclosed courtyard. The buyer and seller were not disclosed.
PHOENIX — Kraus-Anderson® Construction Co. is nearing completion on a new Tutor Time childcare learning center on behalf of Boca Ratio, Fla.,-based Tutor Time Child Care Network. The 25,587-square-foot center is located at 9th Street and Bell Road in Phoenix. The project owner is Phoenix-based PDG American Shopping Center; the architect is Phoenix-based Bollinger & Carderas.
LOUISVILLE, COLO. — KeyBank Real Estate Capital has closed a $4.9 million Fannie Mae loan for Grandview Flatirons, a 130-unit apartment community in Louisville. Built in 1990, the property is owned by Meadow Ridge Apartments Ltd.