HOLLYWOOD, CALIF. — Los Angeles-based Lion Real Estate Group (LREG) has acquired two loans on a multifamily property in Hollywood. LREG purchased the senior and junior loans on the property for $4.02 million, representing just over half the original price. Located at 920 N. Wilcox, the property features 26 non-rent-controlled units, including one studio and 25 two-bedroom/two-bath units. The seller was not disclosed.
Western
SAN BERNARDINO, CALIF. — Voit Development Company has completed the second phase of Waterman Business Park, a 500,000-square-foot mixed-use office and industrial center located along Waterman Avenue in San Bernardino. The second phase features seven buildings totaling 185,000 square feet, ranging in size from 20,000 to 40,000 square feet. Herrick Johnson and Alexey Zabolotskikh of Lee & Associates Riverside, Calif., office are marketing the industrial portions of the property.
LONGMONT, COLO. — Sacramento, Calif.-based Panattoni Development Company Inc., dba Harvest Junction North LLC, has completed the sale of a Walgreens drugstore at its Harvest Junction Shopping Center in Longmont. Realty Trust Group Inc. acquired the property for $5 million. The 13,650-square-foot property is located at 450 Ken Pratt Blvd.
INGLEWOOD, CALIF. — Mel Moss of NAI Capital’s West Los Angeles office represented a private family in the investment acquisition of an approximately 4,304-square-foot retail property. Located at 6802-6806 La Cienega Blvd. in Inglewood, the multi-tenant building sold for more than $3.6 million. The center is currently occupied by T-Mobile and Panda Express, which both have 10-year triple-net leases on the space. Shaun Riley of Faris Lee represented the seller, La Cienega Shopping Center Development LLC, in the transaction.
WEST VALLEY, UTAH — James Wadsworth and Greg Barrat of Hendricks & Partners represented the undisclosed seller in the disposition of Buena Vista apartment complex. The 79-unit property is located at 4425 S. Christopherson in West Valley. The undisclosed buyer plans to upgrade the property. The transaction price was not released.
SOUTH LAKE TAHOE, CALIF. — Reno, Nev.-based Blackfire Investors has acquired a 18,852-square-foot former auto dealership building, which is located at 1875 Lake Tahoe Blvd. in South Lake Tahoe. The buyer plans to reposition the property as a retail building. The seller and acquisition price were not disclosed.
GLENDALE, CALIF. — Glendale-based Gate Holdings Inc. has purchased Fifth Street Apartments in Glendale for $1.75 million. The 14-unit property is located at 1401 5th St. The seller was Glendale-based James Slayback Sr. Family Trust. Kevin Hurley of Hendricks & Partners’ Pasadena, Calif., office represented the seller in the transaction.
SAN LUIS OBISPO, CALIF. — Steiner Trusts has completed the disposition of University Square Shopping Center in San Luis Obispo. Located at 171 N. Santa Rosa St. and 948-972 Foothill Blvd., the asset totals 27,500 square feet. The buyer group, which is lead by local architect and developer Rob Rossi, acquired the property for $7.15 million. The center is currently tenanted by Hurley’s Health-Plus, Bank of America, Special Olympics, Quest Diagnostics and SLO Kickboxing.
MCCARRAN, NEV. — Sacramento, Calif.-based Panattoni Construction Inc. has started the tenant improvement and warehouse upgrade project for ITS Logistics. Located at 2777 USA Parkway, Suite 103, in McCarran, the 100,000-square-foot build-out is owned by PCCP Reno Industrial LLC. The project includes 2,000 square feet of tenant improvements consisting of framing, finishes, mechanical, electrical and plumbing. Additionally, the warehouse has been upgraded to store food grade products. Modifications include rodent brushes at he dock levelers and shatterproof light guards on existing T5 lighting. Larry J. Macias Ltd. provided design services for the project, which is slated for completion in March.
HAYWARD, CALIF. — ProTransport-1 LLC has acquired an 8,882-square-foot building, which is located at 31909 Hayman St. in Hayward, for $998,500 or $112 per square foot. The buyer, a provider of medical transportation and ambulance transport, plans to use the facility for ambulatory use. The seller was Whipple LLC. Richard Fenske of NAI BT Commercial and William Snell of Touchstone Properties represented the buyer in the transaction.