COLORADO SPRINGS, COLO. — Suwannee, Ga.-based SPCL Property Investments Inc. has acquired a 60,243-square-foot office building, which is located at 2862 Circle Drive South in Colorado Springs, for $2.2 million. Situated on a 3.28-acre site, the property is 100 percent occupied by the Colorado Department of Corrections on a short-term lease. Eric Kimose and Barry Higgins of Marcus & Millichap’s Denver office represented the seller, Broomfield, Colo.-based Colorado and Santa Fe Partners XII LLC, in the transaction.
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DENVER — Denver-based The Etkin Johnson Group has partnered with Forest City Development to construct Enterprise Park at Stapleton, a 441,000-square-foot office/industrial campus at the Stapleton redevelopment site in Denver. The three-building project will consist of a 153,000-square-foot building offering 30-foot clear height ceilings, and a 139,695-square-foot facility and a 148,902-square-foot facility offering high parking ratios and 24-foot clear height ceilings. Additionally, the buildings will feature 10-foot glass windows and a front park-rear load configuration. Jim Bolt of CB Richard Ellis and Tim D’Angelo of TD Industrial Properties are marketing the project.
SAN DIEGO — Vancouver, Canada-based Emri Group and Baltimore-based Alex. Brown Realty Inc. (ABR) have formed a joint venture to acquire a 57,200-square-foot research and development (R&D)/office building, which is located in San Diego’s Sorrento Mesa market, for $11.4 million. Built in 1985, the single-story, Class B property was 78 percent occupied at the time of acquisition. Major tenants of the property include OnmiCare and Tensys. ABR Chesapeake Fund III, a value-added real estate investment fund sponsored by ABR, provided an equity commitment of $2.9 million for the acquisition. Mickey Morera and Tim Hoag of Cushman Wakefield’s San Diego office represented the undisclosed seller in the transaction; Don Brenneman served as the West Coast acquisitions officer for ABR.
REDONDO BEACH, CALIF. — Barry Silver, owner of The Silver Group, has brokered the sale of a 31,500-square-foot, single-tenant retail property, which is located at 1401 Hawthorne Blvd. in Redondo Beach. The Alexander Family Trust acquired the property for more than $12.15 million. Previously occupied by The Good Guys until 2006, the property is currently occupied by T.J. Maxx under a 10-year lease, which was negotiated by Silver. Greg Trotter of Coldwell Bank Commercial’s Sherman Oaks, Calif., office assisted with the sale transaction.
CITY OF INDUSTRY, CALIF. — Voit Development Company has completed the disposition of two speculative industrial buildings, which the firm developed in the City of Industry, for $9.7 million. The buildings were part of the company’s three-building project, which included a third-party 144,000-square-foot, built-to-suit distribution and office center for FreshPoint of Southern California, a wholly owned subsidiary of SYSCO Corp. The 31,296-square-foot and 31,914-square-foot buildings are located on separate land parcels totaling more than 3 acres at Long Lane and Nelson Avenue. Mark Latimer and Ryan Lewis of CB Richard Ellis’ Santa Fe Springs, Calif., office represented the company in both transactions. The buyers were not disclosed.
SAN DIEGO — Costa Mesa, Calif.-based Donahue Schriber has signed its first lease with Fresh & Easy Neighborhood Market to open at Plaza Sorrento, a 98,000-square-foot retail center located at the southwest corner of Mira Mesa Boulevard and Camino Santa Fe Road in the Sorrento Mesa area of San Diego. A company of United Kingdom-based Tesco, Fresh & Easy will open a 15,000-square-foot store this fall offering customers everything from everyday staples to gourmet items, including prepared meals and organic foods at the company’s trademark affordable prices.
INDUSTRY, CALIF. — Masco Corp. has completed the disposition of an 871,024-square-foot industrial property, which is located at 825 S. Ajax Ave. in Industry. 82A Developments LLC purchased the property for $15 million. The buyer plans to demolish one of the existing buildings, which is approximately 10,000 square feet, and redevelop the land into an industrial park that will include small units for lease. Craig Phillips of Lee & Associates represented both parties in the transaction.
WALLA WALLA, WASH. — Blue Mountain Plaza LLC has purchased Blue Mountain Mall, which is located at the corner of West Rose Street and Myra Road in Walla Walla, for $9.2 million. The 230,360-square-foot mall is anchored by Sears, Gottschalks and Shopko, which was not part of the sale. The sale also included an adjacent 22-acre parcel for expansion. Ron Allum of NAI Fuller Real Estate listed and marketed the property on behalf of the seller, Meyer Properties.
SAN DIEGO — Poway, Calif.-based Breshears & Ghianni Builders Corp. has developed Ruffin Road Business Plaza, a Class A two-story office building located at 5055 Ruffin Rd. in San Diego. Designed by Ware Malcomb’s San Diego office, the 48,000-square-foot property features an interior elevator, lobby and central staircase, and an exterior courtyard/plaza area with landscaping. Poway-based K.D. Stahl Construction Group served as general contractor for the project.
TIGARD, ORE. — Cohen Financial has secured a $12.5 million loan for the acquisition of Brightwaters at Redhawk Apartments, a 224-unit apartment community located at 16100 SW 108th Ave. in Tigard. Pringle Construction Co. acquired the 210,000-square-foot property, which features one- and two-bedroom apartments. Paul Schroeder and Michael Mason of Cohen Financial’s San Francisco office arranged the non-recourse, 50 percent loan-to-value, 10-year term loan through an undisclosed regional bank.