NORTH LAS VEGAS, NEV. — CORE Construction has completed the construction on the replacement of Tom Williams Elementary School in North Las Vegas. Located at 3000 E. Tonopah Ave., the project included the demolition of the existing school and construction of a new 82,100-square-foot, two-story facility. Las Vegas-based Domingo Cambeiro Corp. provided architectural services for the $21.65 million project. CORE Construction was contracted by the Clark County School District.
HONOLULU — Unite Here! Local 5 has purchased a freestanding office building, which is located at 1516 S. King St. in Honolulu. The 10,200-square-foot building is situated on 14,015 square feet of fee simple land. Shiseido sold the property for an undisclosed price. Financing was provided by First Hawaiian Bank. Ronald Ward of Colliers Monroe Friedlander represented the buyer in the transaction.
SAN FRANCISCO — Stuart Zall, president of The Zall Company in Denver; Jeff Green, president of Jeff Green Partners in Mill Valley, Calif.; and Bruce Katz, president of San Francisco-based Retail Focus Inc., have formed Retail Intelligence Advisors (RIA). The new firm will provide advisory services to asset managers and prospective investors, buyers and sellers of retail companies and properties. The firm will have offices in Denver, Mill Valley and San Francisco.
SAN MARCOS, CALIF. — Carlsbad, Calif.-based Allgire General Contractors Inc. has been selected to serve as general contractor for the construction of Autumn Terrace in San Marcos. Located at 235 Autumn Dr., the affordable apartment community will offer 103 units. The 95,775-square-foot project will include commercial space, a tot lot, a community meeting room and a computer learning center. Grading is currently underway and is expected to be completed in March 2010. Foundation For Form is providing architectural services; Southwest Engineering Inc. is serving as civil engineer for the project.
MESA, ARIZ. — Kaplan Management Company Inc. has developed The District at Mountain Vista, a state-of-the-art 384-unit luxury apartment complex in Mesa. The property is located at the intersection of U.S. 60 and Signal Butte Road and is adjacent to the Mountain Vista Medical Center and 14-acre medical campus. The community offers a clubhouse with a business center, a coffee lounge with a Wi-Fi café, an upscale theater room, a state-of-the-art fitness center, a resort-style pool and detached garages and carports. Units feature designer appliances, open floor plans, 10-foot ceilings, crown molding and large walk-in closets.
LONG BEACH, CALIF. — New Trans Logistics has leased 76,666 square feet of industrial space at 6766 N. Paramount Blvd. in Long Beach. The lease is valued at $1 million. Brandon Carrillo of Charles Dunn Company brokered the transaction.
ALBUQUERQUE, N.M. — BMC Capital has originated a $1.82 million loan for the refinancing of Palazzo at Sandia Heights in Albuquerque. Located at 14124 Chopper Ave., the multifamily property offers 60 units. The borrower was not disclosed. BMC Capital is a leading lender for small-balance multifamily loans in the Southwest.
ORANGE COUNTY, CALIF. — Colliers International has brokered two transaction totaling $6.6 million in Orange County. In the first transaction, The Peaches Trust acquired a 16,047-square-foot office building, which is located at 1901 Dove St. in Newport Beach, Calif. WB Commerce Plaza sold the property for $5.5 million. Stephen Schloemer of Colliers International represented the buyer; Bob Davis of Grubb & Ellis represented the seller in the transaction. In the second transaction, Ajit Randhava & Associates purchased a 5,334-square-foot office building, which is located at 2564 W. Woodland Ave. in Anaheim, Calif. Ho Family Trust sold the property for $1.1 million. Kathe Morgan of Lee & Associates represented the buyer; Brad Christian of Colliers International represented the seller in the transaction.
SANTA MONICA, CALIF. — Forever 21 is slated to open 11 large-format stores by the end of March in former Mervyn’s locations in California, Utah and Arizona. The locations include Victor Valley in Victorville, Calif.; Northridge in Salinas, Calif.; South Towne Center in Sandy, Utah; Arrowhead Towne Center in Glendale, Ariz.; Lakewood Center in Lakewood, Calif.; and Montebello Town Center in Montebello, Calif.; Mall Del Norte in Laredo, Texas; Tucson Mall in Tucson, Ariz.; Crossroads Plaza in Calexico, Calif.; Valle Vista Mall in Harlingen, Texas; and Antelope Valley Mall in Palmdale, Calif.
AURORA, COLO. — Delmwood LLC, a HUD program of Agin Properties and Investments, has acquired Elmwood and Del Mar Apartments, a 96-unit multifamily property located at 1334 Xanadu St. and 140 Del Mar Circle in Aurora. The property sold for $4 million or $41,667 per unit. The property features a one-bedroom unit and 95 two-bedroom units. Mike Easter and Josh Simon of CB Richard Ellis (CBRE) Capital Markets’ Denver office arranged acquisition financing at 83% loan-to-purchase price for the buyer. The $3.338 million loan was fixed at a 6.38% interest rate for a 7-year term. Craig Stack and Steve Rahe of CBRE brokered the sales. The seller was EDM Housing Associates Ltd.
