DENVER — NorthMarq’s Denver office has arranged $19.5 million in permanent financing for South Fork Apartments. The newly constructed property consists of 15 three-story buildings, which offer a total of 336 units. Located in Denver, the property also features an outdoor swimming pool, a heated spa, detached garages, a clubhouse, a business center and a fitness center. Dave Link and Jim DiRienzo of NorthMarq secured the financing on behalf of the undisclosed borrower.
Western
UPLAND, CALIF. — Newport Beach, Calif.-based Master Development Corp. has leased a 20,548-square-foot industrial building to University Consortium of Claremont, Calif. The property is located at 2038 W. Eleventh St. in the Upland Technology Center in Upland. Nicholas Chang and Richard Lee of NAI Capital’s Ontario, Calif., office represented the landlord in the transaction; Nick Quackenbos of Quackenbos-Bell Commercial Real Estate represented the tenant. Further details of the lease were not disclosed.
RENO, NEV. — United Construction Co. has completed the construction of its corporate office, which is located at 5300 Mill St. in Reno. The 12,350-square-foot building includes interior courtyards, lighting control systems to reduce energy use and recycled building materials purchased from local sources to minimize gas consumption.
PHOENIX — De Rito Partners has closed a 54,000-square-foot lease at Bell & 3rd Plaza, which is located on Bell Road between 3rd and 7th avenues in Phoenix. America’s Incredible Pizza Co. will begin construction for its new restaurant in the space. The restaurant is slated to open in May. Mark Roady of Strategic Retail Group represented the tenant; Judi Butterworth and Paul Serafin of De Rito Partners represented the landlord, Bell & 3rd Plaza LLC, in the transaction.
COMMERCE, CALIF. — Karol Western Corp. has purchased a 19,404-square-foot industrial property, which is located at 2639 Garfield in Commerce. Steve Kalpakoff, a furniture dealer and manufacturer, sold the property for $2.2 million. David Jo of Coldwell Banker represented the buyer; Cameron Driscoll, Luke McDaniel, Dan Berkenfield and Jack Askelson of Voit Commercial Brokerage’s Anaheim, Calif., office represented the seller in the transaction.
SEATTLE — Timothy McKay of Marcus & Millichap’ Seattle office represented the private seller in the disposition of a four-unit apartment property, which is located at 2331 Minor Ave. E. in Seattle. The property sold for approximately $1 million. The asset currently features two two-bedroom/one-bath units, which are approximately 950 square feet, and two one-bedroom/one-bath units, which are approximately 780 square feet. Additionally, the property offers four garages and three additional off-street parking stalls.
LA MIRADA, CALIF. — Champion Exposition Services has signed a 5-year lease for a 76,244-square-foot office building in La Mirada. Located at 14701 Industry Circle, the property lease is valued at $3.3 million. Cameron Driscoll and Luke McDaniel of Voit Commercial Brokerage’s Anaheim, Calif., office represented the lessee; Steve Sprenger of Grubb & Ellis represented the lessor, Berns & Sanderson, in the transaction.
SOUTH EL MONTE, CALIF. — Primestor Development is developing the third phase of Plaza Del Sol, a retail center in South El Monte. Located at Durfee Avenue and Thienes Street, the 168,291-square-foot center will be anchored by a Marshall’s. The center will feature Santa Barbara-style architecture. Completion is slated for this winter.
MISSION VIEJO, CALIF. — Scott Hook of Marcus & Millichap’s Newport Beach, Calif., represented the undisclosed buyer in the acquisition of three single-tenant buildings that are pad sites to Trabuco Hills Shopping Center. The properties sold for $14.4 million or $594 per square foot. The sites are located at 27785, 27845 and 27865 Santa Margarita Pkwy in Mission Viejo. Walgreens, Ramona Tire and Claim Jumper currently occupy the buildings. The seller was not disclosed.
CHULA VISTA, CALIF. — MDS Contracting Inc., serving as general contractor, has completed the construction of Nico’s Steak & Chop House, which is located within Otay Ranch Town Center at 2015 Birch Rd. in Chula Vista. The $3.5 million, 6,500-square-foot steakhouse/bar is owned by Jimmy DiMatteo. The 250-seat restaurant was designed by Graham Downes Architecture.