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.
ANAHEIM, CALIF. — Jonathan Mitchell and Christopher Stensby of Marcus & Millichap represented the undisclosed seller in the disposition of Fay Lane Apartments. Located in Anaheim, the nine-unit apartment property sold for $1.1 million.
EL CAJON, CALIF. — Ledcor Construction Inc. has been selected as general contractor for the development of a Public Safety Center, which will be located at 100 Civic Center Way in downtown El Cajon. The five-story, 119,392-square-foot facility will feature 12 detention cells, evidence storage space, an indoor shooting range, administrative offices, an emergency operations center, a communication center and crime scene investigation laboratories. Construction is slated to begin in May with completion scheduled for May 2011. KMA Architecture & Engineering is providing architectural services for the $40 million project, which is being developed by the city of El Cajon.