HAYWARD AND SAN LORENZO, CALIF. — ProWash Consulting has acquired Hutch’s Car Wash and Quick Lube, a 4-property car wash and quick lube retail chain located in Northern California, for $15.75 million. The portfolio consists of Hutch’s Car Wash at 1367 A St. in Hayward; Hutch’s Quick Lube at 1360 B St. in Hayward; Hutch’s Self-Serve Car Wash at 494 Rousseau St. in Hayward and Hutch’s Car Wash at 17945 Hesperian Blvd. in San Lorenzo. The transaction consists of fee-simple real estate for two of the car washes and the quick lube, as well as a leasehold interest in the third car wash. Paul Dadgar represented both the seller and buyer in the off-market transaction.
EL SEGUNDO, CALIF. — Barker Pacific Group and Prudential Real Estate Investors have leased Continental Tower to an undisclosed aerospace-related company for approximately $120 million. Located at 101 Continental Blvd. in El Segundo, the 16-story tower offers 333,000 square feet of office space. Eric Lastition, Geoff Ludwig and Greg Walsh of Colliers International’s South Bay office represented the landlord in the transaction; CB Richard Ellis represented the lessee.
SAN DIEGO — VK Smith Realty LP has acquired Santa Fe Villas, a senior-housing apartment complex in San Diego, from El Presidio Corporation Inc. for $6.5 million. Located at 3912 Albatross St., the 37-unit property offers a mix of 34 one-bedroom/one-bath units and three two-bedroom/two-bath units. Built in 1989, the property features 11 garages, secured underground parking, a community room with kitchen and a player piano. Eric Comer and Jim Neil of CB Richard Ellis represented the seller; Stephen Scola of The Scola Company represented the buyer in the transaction.
LOS ANGELES — Los Angeles-based 1746 N. Kingsley LLC has purchased 1746 North Kingsley Avenue, an apartment community in Los Angeles. Located at 1746 N. Kingsley Dr., the community offers 17 units. Los Angeles-based 1746-1750 ½ North Kingsley Drive LLC sold the property for $2.74 million. Dean Zander of Hendricks & Partners’ Los Angeles office represented the buyer in the transaction.
TUCSON, ARIZ. — Herrera Enterprises LLC, dba Tucson International Academy, has acquired a 7,891-square-foot property in Tucson. Located at 2700 W. Broadway, the property sold for $1.15 million. Jean-Claude Malterre of Homeland Realty represented the buyer; Rob Glaser and Paul Hooker of PICOR Commercial Real Estate Services represented the seller, Pompano Realty LLC, in the transaction.
LOS ANGELES — Meruelo Maddux Properties Inc. has received an $84 million loan for the construction of a 35-story, high-rise multifamily project, which is located at 717 W. Ninth St. in Los Angeles. The loan will be used to fund the remaining development needs of the project, fund an interest payment reserve and fund a real estate tax and insurance reserve. Located at the intersection of Flower and Ninth streets in downtown Los Angeles, the project will feature 214 luxury apartment homes with resort-style amenities, including a lap pool and whirlpool spa, a fitness facility, a living room/library and an outdoor social area with barbeque grills and fire pits. Additionally, the project is seeking LEED Silver certification. The financing was provided by an affiliate of Canyon Capital Realty Advisors LLC.
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.