LITTLETON AND FOUNTAIN, COLO. — Central Development, dba Littleton Ridge LLC, has completed the disposition of a 6,400-square-foot medical office building, which is located at 761 Southpark Dr. in Littleton. Colorado Plastic Surgery Center purchased the shell building, which is part of a six-building medical and office project called Littleton Ridge, for approximately $1.33 million. Billy Halax of Metro Brokers represented the buyer; Dan Miller, Brad Rice and R.C. Myles of Fuller Real Estate represented the seller in the transaction. In a separate transaction, Pikes Peak Raceway Inc. has acquired the former Pikes Peak International Raceway, which is located at Interstate 25 and Exit 122 in Fountain, for $9 million. Rocky Mountain Speedway Corp. sold the former NASCAR racetrack, which also includes 1,155 acres of surrounding land. Easter Kettering and Stew Mosko of Fuller Real Estate represented the seller.
EL SEGUNDO, CALIF. — Behringer Harvard has completed the disposition of 2383 Utah Avenue, a 150,000-square-foot office/research and development building, which is located directly south of the Los Angeles International Airport in El Segundo. Situated on a 9.6-acre site, the one-story property is leased to Northrop Grumman, a global defense company, and Unisys, a multinational information technology company. The buyer and acquisition price were not disclosed.
TUCSON, ARIZ. — Santa Barbara, Calif.-based Nevins Adams Lewbel Schell (NALS) has acquired Finisterra, a 300-unit apartment complex in Tucson, for $32.5 million. Located at 6795 E. Calle La Paz, the community consists of 21 two-story, garden-style buildings totaling approximately 289,545 square feet. The property features one-, two- and three-bedroom units in five individual floorplans. Community amenities include a clubhouse with kitchen, computer room, heated swimming pool, spa, fitness center and barbeque area. Units feature 9-foot ceilings, air conditioning, dishwashers, disposals, frost-free refrigerators with icemakers, private balconies/patios and washer/dryers. The seller was Tucson-based Finisterrra Community I LLC. Art Wadlund of Hendricks & Partners’ Tucson office brokered the transaction.
SAN DIEGO — Sudberry Development Inc., the development arm of San Diego-based Sudberry Properties, is developing Terraces at Copley Point, a 530,000-square-foot office campus located at 5887 and 5893 Copley Dr. in the Kearny Mesa area of San Diego. The $115 million project, which is seeking LEED certification, consists of two steel-framed, six-story office buildings totaling 175,00 and 205,000 square feet. Additionally, the project offers an adjacent three-story concrete, open-air parking structure that can accommodate 1,073 cars. The project can accommodate uses ranging in size from approximately 10,000 to 380,000 square feet, with flexible floor plates ranging from approximately 27,000 to 36,000 square feet. Hanna Gabriel Wells Architects is providing architectural services for the project; Reno Contracting is serving as general contractor. Completion is slate for this fall.
LAS VEGAS — CORE Construction—Nevada, acting as general contractor, has completed the construction of an office building, which is located at 7150 Cascade Valley Court in Las Vegas, for Fire Mesa Properties LLC. The 12,543-square-foot, single-story professional office building will operate on solar power. The project features various sustainable design elements including natural lighting for every office, recycled insulation from denim jeans, recycled glass floors, a heating/cooling system in certain locations that operates when a sensor detects carbon dioxide, a 125-square-foot area dedicated for recycling, pervious concrete used in the parking areas to recharge groundwater and landscaping created from recycled concrete of the pre-existing sidewalk. CORE provided ground-up, shell construction and tenant improvements for the $3 million project; Carpenter Sellers Architects served as architect of record.
MESA, ARIZ. — Scottsdale, Ariz.-based Wilson Property Services Inc. has purchased Mesa Executive Park, an 80,067-square-foot office complex in Mesa, for $7.25 million. Located at 1255 W. Baseline Rd., the park consists of four two-story buildings interconnected by elevated walkways and lush interior courtyard landscaping. At the time of acquisition, the property, which was built in 1982, was 61 percent leased to a variety of tenants, including Kimley-Horn & Associates, Maricopa County Environmental Services and Southwest Behavioral Health Services. Bob Young, Steve Brabant, Glenn Smigiel and Rick Abraham of CB Richard Ellis’ Phoenix office represented the seller, Newport Beach, Calif.-based KBS Realty Advisors, in the transaction.
SACRAMENTO, CALIF. — The Allen Group and the California Farm Bureau Federation have created a joint venture to develop The River Plaza Corporate Center, a 175,000-square-foot office park located at 2500 River Plaza Dr. in Sacramento. The first phase of the project consists of six two-story buildings, which are slated for completion this summer. When complete, the center will offer 12 separate two-story buildings ranging in size from 11,000 to 17,000 square feet, in a garden office setting. Each for-sale building offers a private garage, stair and elevator access, ample on-grade parking and 24-foot vaulted open-beam ceilings with clerestory skylights on the second floor. Smith Consulting Architects provided architectural services for the project; Brown Construction is serving as general contractor. Bank of America provided construction financing for the project, and CB Richard Ellis has been retained to market the center.
SAN DIEGO — Icon LLC has completed the disposition of a ground-level retail space located in the Icon building at 315 10th Ave. in downtown San Diego. Shi Liang Zhu and Li Jun Chen purchased the property, Suites 101 and 102, for $2.2 million. Icon is a four-tower mixed-use project that contains approximately 330 condominiums and nearly 16,000 square feet of retail space. Danny Fitzgerald, Linville Martin and Michael Burton of Grubb & Ellis|BRE Commercial represented the seller; Eva Liew of Emperor Realty Group Inc. represented the buyer in the transaction.
LAS VEGAS — The PENTA Group has completed construction of the third building and parking structure at the 57-acre World Market Center Las Vegas complex. Located at 495 S. Grand Central Pkwy. in Las Vegas, the $550 million project offers 2.1 million square feet of space. Designed by JMA, the 16-story, steel-framed structure features contemporary architectural design with state-of-the-art amenities and technology. Additionally, the building features 34 escalators and 16 elevators. The project was awarded to PENTA by World Market Center LLC.
PHOENIX — Buchanan Street Partners has arranged $65.2 million in financing for Park Place, a mixed-use construction development located in the Chandler submarket of Phoenix. Situated within the Price Road corridor, the 98-acre master-planned project will feature Class A office space, two hotels and retail space. The development features freeway visibility and convenient proximity to many amenities such as Chandler Fashion Center. Buchanan Street Partners arranged the financing on behalf of Cyburt Hall Partners.