Western

DPR CONSTRUCTION TAKES GOVERNOR TECH CENTER FOR $6.85 MILLION

by admin June 30, 2008

SAN DIEGO — DPR Construction Inc. has purchased Governor Tech Center, an office building located at 5010 Shoreham Place in San Diego, for $6.85 million. Situated on a 3.35-acre site, the 33,705-square-foot property was built in 1984. The single-story, multi-tenant facility is 71 percent leased to five tenants: National City Mortgage, Pentech Financial, Kleinfelder Inc., Guild Mortgage Company and D.C. Pulido Engineering. The buyer plans to relocate to the building. Jed Stirnkorb of CB Richard Ellis represented the buyer; Tony Russell, Richard Gonor, Steve Rowland, Brian Starck and Michael Roberts of Grubb & Ellis|BRE Commercial represented the seller, Shoreham-Viewridge LLC, in the transaction.

June 30, 2008

RETAIL CENTER SELLS FOR $3.3 MILLION

by admin June 30, 2008

CLAREMONT, CALIF. — Richard Longobardo of Marcus & Millichap’s Ontario, Calif., office brokered the disposition and acquisition of a 24,662-square-foot shopping strip center in Claremont. A California-based investment group sold the property to an undisclosed buyer for $3.3 million or $120 per square foot. Located at 903-911 and 951-975 W. Foothill Blvd., the property is situated on the major east-west retail arterial in the Eastern San Gabriel Valley.

June 30, 2008

Industrial Western

LEE & ASSOCIATES COMPLETES TWO TRANSACTIONS

by admin June 30, 2008

RANCHO DOMINGUEZ AND COMPTON, CALIF. — First Industrial Realty has acquired a 30,284-square-foot industrial building, which is located at 18408 Laurel Park Rd. in Rancho Dominguez. Fortune Small Business LLC sold the property for $5.7 million. Don Smith of Lee & Associates’ Los Angeles South Bay office represented both parties in the transaction. Additionally, Fortune Small Business LLC has purchased a 28,350-square-foot industrial space, which is located at 1031 S. Santa Fe Ave. in Compton. The property sold for $3.3 million. Smith represented the buyer, while Ok Kim and David Jo of Coldwell Banker Los Angeles represented the undisclosed seller.

June 30, 2008

Multifamily Western

203-UNIT MULTIFAMILY COMPLEX SELLS FOR $10.3 MILLION

by admin June 27, 2008

PHOENIX — Brookside Properties LLC has purchased Brookside, a 203-unit multifamily community located at 6131 W. Thomas Rd. in Phoenix, for $10.3 million or approximately $50,739 per unit. The 137,400-square-foot property features a mix of studio, one- and two-bedroom units with walk-in closets, balconies or patios, and ceiling fans. The property also features two swimming pools with spas, a children’s playground, reserved covered parking and two laundry facilities. Richard Butler of Marcus & Millichap represented the buyer; Alon Shnitzer, also of Marcus & Millichap, represented the seller, Brookside-Premier LLC, in the transaction.

June 27, 2008

Civic Western

MCCARTHY AWARDED THREE-PHASE HIGH SCHOOL EXPANSION

by admin June 27, 2008

PARAMOUNT, CALIF. — McCarthy Building Companies Inc. has been awarded the construction contract for the three-phase expansion of Paramount High School in Paramount. The 2-year, $70 million expansion project includes construction of a stadium and athletic complex in the first phase; a stadium field and house in the second phase; and a new science building, mini gym and the renovation of existing academic and athletic facilities in the third phase. Construction of the first phase is currently underway and will feature a 6,000-seat stadium, a soccer/football field, a nine-lane track and equipment for track and field activities, including the high jump and pole vault, and a fully equipped press box. Construction of the second phase, which is slated to begin in spring 2009, will include an athletic field house with locker rooms, concessions, weight rooms and other related facilities. The final phase will include expansion to the existing gymnasium, a new mini gymnasium and library, upgrades to the existing auditorium and classrooms and a new science building. Construction is expected to continue through 2010. LPA Architects is providing architectural services for the project. Financing is provided through the Measure AA, a $100 million bond that was passed in November 2006.

June 27, 2008

Office Western

HOMESTREET CAPITAL PROVIDES $10.2M LOAN FOR REDEVELOPMENT PROJECT

by admin June 27, 2008

PORTLAND, ORE. — HomeStreet Capital has provided $10.2 million in construction financing for the redevelopment of the General Automotive Building, which is located in the Pearl District of Portland. Rob Brewster, president of Northwest-based ConoverBond Development, is transforming the vacant warehouse property into a five-story office and retail project. The completed project will offer approximately 37,000 square feet of office space and 7,500 square feet of ground-level retail and restaurant space. The office space will feature open floorplans with exposed walls, ductwork and hanging lights. Additionally, the LEED-designed building will offer on-site showers and bicycle storage. Fortis Construction Inc. is serving as general contractor; SERA Architects Inc. is providing architectural services. Financing was arranged by Gregg Weed of HomeStreet Capital through HomeStreet Bank portfolio funds. Additionally, a seismic loan was provided by the Portland Development Commission.

June 27, 2008

Multifamily Western

HENDRICKS & PARTNERS BROKERS $2 MILLION APARTMENT COMMUNITY SALE

by admin June 27, 2008

OAKLAND, CALIF. — Concord, Calif.-based Alameda Apts LP has acquired 6116 Telegraph Avenue in Oakland. The 17-unit apartment community sold for approximately $2 million. Palo Alto, Calif.-based 6116 Telegraph Avenue Associates sold the property. Martin Higgins of Hendricks & Partners’ San Francisco office represented the buyer in the transaction.

June 27, 2008

Civic Western

$106 MILLION HIGH SCHOOL PROJECT UNDERWAY

by admin June 26, 2008

LONG BEACH, CALIF. — The West Coast Division of Suffolk Construction Co. has been selected by the Los Angeles Unified School District (LAUSD) for the construction of a $106 million high school project in Long Beach. South Beach High School #4 will consist of a high-end, four-story building offering 67 classrooms, a library, a gymnasium, a food service area, indoor and outdoor dining spaces, a multipurpose room and a subterranean 163-car parking structure. Additionally, the 13.7-acre site includes football and baseball fields, a jogging track, bleachers, basketball courts, a stadium, maintenance and operations building, hardscape and off-site improvement work. Construction began in June and completion is slated for April 2011.

June 26, 2008

Retail Western

TIC SELLS 106,200-SQUARE-FOOT RETAIL CENTER

by admin June 26, 2008

PUEBLO, COLO. — Grubb & Ellis Realty Investors LLC, on behalf of tenant-in-common investors (TIC), has completed the disposition of Pueblo Shopping Center in Pueblo. Raymond Plaza LLC acquired the property for an undisclosed price. Located at 102-240 29th St., the 106,200-square-foot center is anchored by King Soopers, a regional grocery store operated by Kroger Co. This transaction is the 54th securitized 1031 TIC exchange program taken full-cycle by Grubb & Ellis Realty Investors. Riki Hashimoto of Grubb & Ellis Company and John Rance of Rance Commercial brokered the transaction.

June 26, 2008

Mixed-Use Western

LEDCOR CONSTRUCTION BUILDS 40,000-SQUARE-FOOT MIXED-USE PROJECT

by admin June 26, 2008

SAN MARCOS, CALIF. — Ledcor Construction Inc., serving as general contractor, is constructing the first phase of San Elijo Town Center, an approximately 40,000-square-foot mixed-use development located in the San Elijo community of San Marcos. Being developed by San Elijo Town Center LLC, the first phase will feature three three-story buildings, each with 4,000 square feet of retail at ground level, and 7,300 square feet of two-story residential space above. Architects B.P. Associates Inc. is providing architectural services; Hunsaker & Associates is serving as civil engineer; HTK is serving as structural engineer; Fashandi & Associates as MEP engineer and ONA is providing landscape architectural services for the project.

June 26, 2008

Newer Posts

Older Posts