ARTESIA, CALIF. — Ron Duong of Marcus & Millichap represented the buyer in the acquisition of Gridley Plaza, a retail building located at 18300 Gridley Rd. in Artesia. The 30,678-square-foot property sold for $3.75 million. At the time of acquisition, the property was 72 percent occupied. Christopher Maling and David Maling of Marcus & Millichap represented the undisclosed seller in the transaction.
Western
TUCSON, ARIZ. —Tucson-based Arizona Mail Order Company Inc. has signed a 10.5-year lease for Centre East, a four-building office complex located at 7840 E. Broadway Blvd. in Tucson. The recently remodeled complex earned the ENERGY STAR rating from the U.S. Environmental Protection Agency. Amenities include fiber optic service and abundant parking for visitors and employees. Buzz Isaacson of CB Richard Ellis, along with Ted Lyon and Michael Brown of Boston-based DTZ FHO Partners LLC represented the tenant; David Volk of CBRE represented the landlord, Tucson-based Houaloa Companies, in the transaction. The value of the lease was not disclosed.
LOS ANGELES — Los Angeles-based BH Properties has received a loan for $59 million for the financing of a 12-property portfolio. The properties, which consist of retail, warehouse and office, are located in Oregon, Florida, Georgia, Utah, Virginia, Texas, Kansas and California. Funded by Wells Fargo’s Real Estate Banking Group, the loan features a 2-year term with a 1-year extension option.
BROOMFIELD, COLO. — Loveland, Colo.-based McWhinney is developing North Park, a 935-acre mixed-use community in Broomfield. Located at the intersection of Interstate 25 and Northwest Parkway, the project will feature more than 6,200 planned residences; approximately 17 million square feet of commercial and mixed-use space, including retail, restaurant and entertainment venues; a 175-acre Applied Research Center; and a 70-acre central park.
PASADENA, CALIF. — San Diego-based Pacific Medical Buildings is opening Huntington Pavilion, a 190,000-square-foot outpatient services building at Huntington Memorial Hospital in Pasadena. Located at 625 Fair Oaks Ave., the multi-level building, which is a combination of three- and four-story elements, features twin lobbies and a six-story, 700-space parking structure. The building will house additional medical office and outpatient services, including a women’s center, full-service oncology, and imaging and ambulatory surgery center. Completion is slated for July.
SAN DIEGO — Stronghold Canyon Development LLC has acquired a 24,319-square-foot industrial/flex building in San Diego’s Scripps Ranch area. Located at 9885 Carroll Canyon Rd., the property, which features 5,000 square feet of office space, sold for $3.8 million. Jonathan Ferrini of Lee & Associates represented the buyer; Bill Dolan and Chris Pascale of CB Richard Ellis represented the seller, S.D. Canyon Road LLC, in the transaction.
SAN MARCOS, CALIF. — Newport National Corp. has developed Nordahl Medical Centre, a Class A, 55,450-square-foot medical condominium project located at 838 Nordahl Rd. in San Marcos. The three-story property offers for-sale and lease suites ranging in size from 1,000 to 55,450 square feet with floor plates of approximately 19,000 square feet. TSA Contracting Inc. served as general contractor for the project, which was designed by McArdle Associates Architects. Bank of America provided financing for the project.
KAPOLEI, HAWAII — CNL Lifestyle Properties has acquired Hawaiian Waters Adventure Park, located in Kapolei on Oahu, as part of a sale-leaseback transaction. CNL will lease the property to its previous owner, Melbourne, Australia-based Village Roadshow Limited, under a long-term agreement. First opened in 1999, the water park covers 29 acres and can accommodate 6,000 guests. It is Hawaii’s only water park and was acquired by Village Roadshow in 2008. This summer, the Village Roadshow plans to rename the theme park Wet ‘n’ Wild Hawaii. It will also open a second location for the brand in Phoenix.
LACEY, WASH. — First Industrial Real Trust has completed three distribution centers within First Park Meridian Campus, a 45-acre industrial park located at 9107-9225 Polaris Lane in Lacey. The buildings comprise two 130,500-square-foot distribution centers and one 198,000-square-foot bulk distribution center. All can accommodate a single- or multi-tenant occupancy. First Park Meridian Campus is a six-building, 780,350-square-foot industrial park. All of the buildings are designed to achieve LEED-Gold certification. Sustainable features include energy-efficient lighting and skylights, which come standard in every building. Other features include reflective roofing materials, low-flow fixtures, permeable surface materials, water-efficient irrigation systems, and preferred parking for carpoolers and hybrid vehicles. The project is being developed by FirstCal1, a development and repositioning joint venture between First Industrial and the California State Teachers’ Retirement System.
SAN DIEGO — Hendricks & Partners (H&P) has brokered the sale of Wilson Avenue Apartments, a 16-unit apartment community located in San Diego, for $1.59 million. Located at 4740 Wilson Ave., the property consists of a mix of one- and two-bedroom units. The community also includes seven garage spaces and 11 parking spaces. David Andrews of H&P’s San Diego office represented the buyer, Allen Weiss of Las Vegas. Weiss plans to complete an extensive rehabilitation of the property in order to raise rents to market levels. The seller was the Estate of Pietro Diotallevi of Reno, Nev.