FONTANA, CALIF. — Ryko Products has completed the $10 million sale-leaseback of its 139,630-square-foot industrial property, which is located at 12903 Jurupa Ave. in Fontana. Ryko Products, a custom profile plastic extruders, currently occupies the building, which serves as the company’s headquarters, manufacturing and distribution hub. Clyde Stauff and Stephen Calhoun of Colliers International’s Commerce, Calif., and Michael McCrary of Colliers’ Ontario, Calif., office represented the seller and the buyer, a private investor, in the transaction.
Western
SANTA MONICA, CALIF. — Arnon Development has acquired a 30,000-square-foot land parcel, which is located on 16th Street in Santa Monica, from Spruce Realty Group for $13.25 million. The company plans to develop a 50,000-square-foot outpatient medical center on the property. Designed by architect Eric Shen, the Class A center will feature subterranean parking. Groundbreaking is slated for second quarter 2009, with completion scheduled for second quarter 2010. Gary Weiss and John Mudgett of Madison Partners represented the buyer; Dennis Ellman of Greenberg Glusker LLP represented the seller in the transaction.
CITY OF INDUSTRY, CALIF. — Majestic Realty Retail, a division of City of Industry-based Majestic Realty Co., has completed the leasing of Marketplace at Grand Crossing-West with the signing of five new tenants. The signing fully occupies the center and the company’s sister developments, Marketplace Grand Crossing-East and The Village-East and West, which are located at the four corners of the crossroads of City of Industry and Walnut, Calif. Currently under construction at the corner of Grand Avenue and Valley Boulevard, the 67,000-square-foot Marketplace-West will be occupied by a 13,969-square-foot Fresh & Easy Neighborhood Market, a 33,000-square-foot 24-Hour Fitness, a 12,900-square-foot CVS/pharmacy, Chick-fil-A, and ARCO-am/pm gas station, car wash and convenience store. Completion is slated for November 2008. The Marketplace (East and West) and the Village (East and West) comprise more than 400,000 square feet of retail, restaurant and entertainment space.
PLEASANTON, CALIF. — Continuing Life Communities LLC is planning to develop Stoneridge Creek, a continuing care retirement community for residents aged 62 and older. Located on a 46-acre campus in Pleasanton, the gated community will feature two- and three-bedroom single-story villas and one-, two- and three-bedroom apartment units offering fully-equipped kitchens, attached garages and state-of-the-art appliances. The new community will also offer multiple restaurants, a library, billiards and card rooms, a computer lab, a business center, 24-hour security services, indoor/outdoor maintenance of residences, regular linen, maid and cleaning services, scheduled transportation to shopping, local medical offices and places of worship, a 24-hour emergency response system, utilities, a spa, a fitness center, an indoor and an outdoor pool, a sauna and a Jacuzzi.
CORONA, CALIF. — Enclosed Tow LLC has purchased a 50,909-square-foot industrial building located at 1771 Delilah St. in Corona. BA & CR Investments Inc. sold the property for $5.6 million. The seller is currently building a 125,000-square-foot manufacturing facility, and will lease back the Delilah Street property until the new building is complete. Chris Hauso of NAI Capital’s Ontario, Calif., office represented the seller; Scott Seal of Lee & Associates represented the buyer in the transaction.
CORONA, CALIF. — Master Development Corp. (MDC) has begun construction for the development of West Corona Commerce Center, a 321,700-square-foot, state-of-the-art manufacturing/distribution/corporate headquarters building located at 1350 Railroad St. in Corona. In March 2007, MDC acquired the property, which had an existing 100,000-square-foot industrial building situated on 15 acres. The company demolished the existing building. Completion of the new development is slated for first quarter 2009. Walter Frome and Bill Livesay of Voit Commercial Brokerage’s Irvine, Calif., office brokered the sale of the site.
REDLANDS, CALIF. — Atlanta-based Oakmont Industrial Group is developing Alabama Street Logistics Center, an industrial warehousing facility located at 9090 N. Alabama St. in Redlands. Designed by RGA Office of Architectural Design, the center is being built to achieve LEED certification. Additionally, the 225,078-square-foot facility will feature an ESFR fire suppression system, on-site parking for 45 trailers, a full concrete truck court, 32-foot minimum clear ceiling heights, 36 dock-high positions and on-site parking for 124 cars. Whittier, Calif.-based Oltmans Construction Co. is serving as general contractor for the project, which is slated for completion in September.
LAS VEGAS — InterContinential Hotels Group (IHG) is developing an Asian-themed Crowne Plaza hotel, which will be located in central Las Vegas. The 386-room hotel will feature guestrooms with the Crowne Plaza Sleep Advantage program, 16,000 square feet of meeting and banquet space, a casino, three restaurants, three lounges, a full-service spa, an outdoor swimming pool, a fitness center, a business center and retail space. The property is owned and managed by Andrew Lai, under a license agreement with a company in the IHG. Completion is scheduled for 2010.
MESA, ARIZ. — TME Augusta Ranch LLC has acquired Augusta Ranch Marketplace, an 80,247-square-foot shopping center in Mesa, for $18.74 million or $234 per square foot. Located at the intersection of Baseline and Crimson roads, the center consists of four multi-tenant retail buildings and one vacant parcel situated on a 10.39-acre site within the Augusta Ranch community. The center is currently fully leased to a variety of tenants, including Allstate Insurance, Bashas’ Supermarket, Data Doctor, Great Clips, Slim and Tone, and Tropical Smoothie Café. Jamie Medress and Steve Gonzales of Marcus & Millichap represented the seller, Paulsen Armp LLC, in the transaction.
MESA, ARIZ. — Hudson Realty Capital has partnered with Biltmore Holdings to acquire a 96,000-square-foot office building in Mesa. Hudson Realty invested more than $2.4 million in joint-venture equity for acquisition. Located at 827 W. Grove Ave., the property is situated within Kent Commercial Park within walking distance of retail, restaurants and other services. The seller and the acquisition price were not disclosed.