PALM SPRINGS, CALIF. — RockBridge Partners, an affiliate of RockBridge Capital LLC, and Davidson Hotel Company have acquired Hyatt Regency Suites in Palm Springs from PSH Holdings Inc. for an undisclosed price. Located at 285 N. Palm Canyon Dr., the property features 194 one-bedroom suites, private balconies, mountain/desert views, high-speed Internet access, a full-service dining room, a putting green, a pool, a spa and 9,200 square feet of flexible meeting space. An $18.5 million renovation is planned for the property. The renovation, which will begin summer 2009, will upgrade virtually every aspect of the property. Davidson, who holds a minority interest in the joint venture, will coordinate the renovation and manage the hotel. Newport Beach, Calif.-based Maxim Hotel Brokers advised both parties in the transaction.
RENO, NEV. — The PENTA Building Group has broken ground for the construction of the new Davidson Mathematics and Science Center at the University of Nevada, Reno (UNR). Located at the southeast corner of campus, the $42 million project is the fifth commercial project constructed by PENTA on the UNR Campus. The 104,000-square-foot facility will feature a 14,000-square-foot auditorium, a new dean’s office, chemistry and biology laboratories, state-of-the-art classrooms and major site improvements. Hershenow + Klippenstein Architects provided architectural services for the project, which is slated for completion in December 2009.
SAN MARCOS, CALIF. — Padilla Construction has purchased a 13,000-square-foot industrial building, which is located at 1380 and 1390 Armorlite Dr. in San Marcos. Situated on a 1.9-acre site, the two-story property features 7,000 square feet of office space, three truck doors and a concrete parking area. Chris Migliori of DAUM Commercial represented the buyer; Chuck McNary and Erik McNary of Colliers International represented the seller, American Bobcat and Backhoe Services, in the transaction.
RANCHO CUCAMONGA, CALIF. — Phoenix-based NNC Woodsong LLC has acquired Archstone Woodsong, a 262-unit apartment community in Rancho Cucamonga, for $44 million. Located at 8255 Vineyard Ave., the community consists of 46 percent one-bedroom units, 14 percent two-bedroom units and 40 percent three-bedroom units. Additionally, the property features two swimming pools, a spa, two lighted tennis courts, a children’s playground, barbeque grills, picnic areas and assigned covered parking. Paul Runkle and David Casper of Hendricks & Partners represented the seller, Englewood, Colo.-based Tishman Speyer Archstone-Smith Woodsong LP, in the transaction.
SAN DIEGO — Klingbeil Capital Management has acquired three San Diego multifamily properties from Mabie & Mintz Inc. for approximately $31.45 million. The portfolio includes the 90-unit Villa de Flores located at 7707 Mission George Rd.; the 56-unit Park East apartments located at 111 W. Pennsylvania Ave.; and San Carlos Townhouse Apartments, a 65-unit complex located at 6867 Golfcrest Dr. Jim Neil and Eric Comer of CB Richard Ellis’ San Diego central office represented the seller in the transaction; the buyer was self-represented.
RANCHO CUCAMONGA, CALIF. — Sixth Street LP has purchased an 83,456-square-foot industrial property, which is located at 10096 Sixth St. in Rancho Cucamonga. Sixth Street Industrial Park sold the property for $6.6 million. The buyer plans to renovate the property, which it will keep as a long-term investment. Mike and Loren Cargile of Voit Commercial Brokerage’s Irvine, Calif., office represented the buyer; Allmark Properties represented the seller in the transaction.
SAN MARCOS, CALIF. — Windy Point Partners LP is developing Windy Point Corporate Center, a $3.4 million project located at 750 Windy Way in San Marcos. The 68,000-square-foot, two-building project will be the future home to the sports medicine school of Saint Augustine University. The completed project will feature a cadaver room and large classrooms, as well as wet and dry labs. Ledcor Construction Inc. is serving as general contractor; McArdle Associates Architects is providing architectural services for the project. Completion is slated for October.
HENDERSON, NEV. — Voit Development Company has completed the final phase of Pacific Business Center, as a third-party fee development project, for Northwestern Mutual Investments/Life Insurance. Located on American Pacific Drive in Henderson, the 13-building project offers 898,389 square feet of commercial space. The final phase consists of two mid-bay buildings and one distribution building totaling 216,317 square feet. Park amenities include dock levelers, skylights, evaporative coolers and metal halide lighting. The property also features on-site management. Tim Regan of Voit Development served as project manager for the fee development at Pacific Business Center. Kevin Higgins, Steve Paravia and Garrett Toft of Voit Commercial Brokerage’s Las Vegas office are marketing the project, which is owned by Northwestern Mutual Investments/Life Insurance.
CHANDLER, ARIZ. — Ryan Companies US Inc. is developing a 130,708-square-foot spec warehouse facility at the Chandler Freeways Business Park in Chandler. Located off of the Loop 202 Santan Freeway and 56th St., the project will be the fifth building at the company’s 58-acre master-planned business park. Designed by Balmer Architecture Group, the building features 28-foot clear ceiling heights, cross docks, ESFR capabilities and a floor plate that is divisible into eight tenant suites. Construction is expected to take 7 months and completion is slated for May 2009.
ONTARIO, CALIF. — Los Angeles-based Las Vegas Land & Development Company has acquired a fully occupied, 60,000-square-foot portion of The Marketplace at Ontario Mills, which is located at 4155-4195 Inland Empire Blvd. and 750 N. Ferrari Ln. in Ontario. Newport Beach, Calif.-based Peninsula Retail Partners sold the property for $18 million. The property consists of four furniture stores: CORT Furniture Rental, Ortho Mattress, Bassett Furniture and Easylife Furniture. Jeff Conover of Irvine, Calif.-based Faris Lee Investments represented the seller/developer in the transaction.