LOS ANGELES — Beverly Hills, Calif.-based Maxxam Enterprises has completed the construction of an approximately 60,000-square-foot wholesale center, which is located at 777 East 12th St. in the Fashion District of Los Angeles. The property provides space for stores and showrooms on wholesale women’s fashions and apparel on its ground and mezzanine levels. A full-service branch of Pacific City Bank occupies the second floor.
Western
THORNTON, COLO. — Holland Residential has acquired Brittany Downs Apartments in Thornton from Brittany Apartments LLC and New York City-based Brittany Phase II Apartments LLC for $33.62 million. The 325,376-square-foot property is situated on 18 acres at 8849 Pearl St. It features 22 two- and three-story buildings, and 464 units. Dave Potarf and Dan Woodward of Marcus & Millichap’s Denver office represented both parties in the transaction.
PASADENA, CALIF. — Cambra Real Estate/Angelo Gordon Co. has acquired Old Pasadena Plaza I and Old Pasadena Plaza II from Old Pasadena Plaza II LLC for $32 million. The mixed-use properties total 72,815 square feet and are located at 61, 75-85, 87-91 and 95 N. Raymond Ave., and 54-56 E. Holly St. Bob Safai of Madison Partners represented the buyer in the transaction.
PORTLAND, ORE. — Urban Renaissance Group and Boston-based Great Point Investors have acquired the Morgan Building in Portland for $27.5 million. The 8-story, 156-984-square-foot historic building is located at 720 S.W. Washington St. in the central business district. It is currently home to Morgan’s Alley, a 17,500-square-foot retail arcade. The sellers name was undisclosed.
SOUTH GATE, CALIF. — Golden Boy Partners has broken ground on a 107-unit multifamily community in South Gate. Tierra del Rey will be situated on 5 acres at Firestone Boulevard and Calden Avenue, and will offer two- and three-bedroom townhomes. Golden Boy Partners is a real estate development company formed by Oscar De La Hoya and John Long, CEO of Highridge Partners. Tierra del Rey is scheduled for completion in March 2009.
CARLSBAD, CALIF. — Continuing Life Communities has completed Phase IV of La Costa Glen Carlsbad, a retirement community located in Carlsbad. The final phase features 211 apartment homes, 52 villas and a 32,000-square-foot Fairway Clubhouse. New amenities include a 12,000-square-foot recreation/fitness center featuring a sauna, yoga, massage and exercise facilities, a heated indoor swimming pool, a movie theater, and a pitch-and-putt golf course. The 281-acre community, located at 1940 Levante St., first opened in 2002.
SAN FRANCISCO — San Francisco-based New Urban Properties has acquired three Category I historic buildings in San Francisco. The first property, 166 Geary St., is a 16-story building; 17 Maiden Ln. is a two-story boutique building; and 944 Market St. is an eight-story building located in the Mid-Market submarket. The acquisition price and seller’s name were undisclosed.
SAN DIEGO — San Diego-based Benson & Bohl Architects have been chosen to design Merrill Gardens at Bankers Hill in San Diego. The 84-unit senior residential community will be situated on 1.38 acres at the corner of Laurel Street and Second Avenue. The 131,018-square-foot, five-story property will feature 18 studio units, 46 one-bedroom units and 20 two-bedroom units. Construction is slated to begin in early 2009.
REDLANDS, CALIF. — A private investor has acquired a 266,850-square-foot industrial property in Redlands from Oakmont Redlands Palmetto Ave. LLC for $20.4 million. The Class A property is located at 26940 Palmetto Ave. and offers proximity to the San Bernardino International Airport. Features include new concrete tilt-up construction, 2,800 square feet of expandable office space, an ESFR Sprinkler System, 49 dock-high loading doors and 32-foot ceilings. Clyde Stauff and Stephen Calhoun of Colliers International represented the buyer, and Cushman & Wakefield represented the seller in the transaction.
SAN DIEGO — Construction is complete on a 39,000-square-foot academic building at National University in San Diego. The $7.4 million facility, located at the intersection of Aero Drive and Aero Court, was designed by Architects | Delawie Wilkes Rodrigues Barker and features classroom space, lab space, and a production studio for the Media and Communications program. The two-story building is one of four facilities Architects | Delawie Wilkes Rodrigues Barker has designed on the campus that is either complete or under construction. Project partners included ROEL Construction as general contractor, HOPE Engineering as structural engineer, RBF Consulting as civil engineer, Xnth as electrical and mechanical engineer, and Wimmer Yamada Caughey as landscape architect.