TORRANCE, CALIF. — Dean Zander and David Casper of Hendricks & Partners have brokered the $11 million sale of Alondra Park apartment community in Torrance. Torrance, Calif.-based Diversified Holdings acquired the 68-unit community from Los Angeles-based DMC Investment Group. Alondra Park is located at 3338 Redondo Beach Blvd. and has received substantial upgrades.
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PHOENIX — Armor Designs has signed a 5-year, $2.7 million lease for a 71,345-square-foot industrial facility in Phoenix. The facility is located at 4645 South 35th St. near the Maricopa (10) Freeway. Rich Sica of DAUM Commercial Real Estate Services represented the lessee and Pete Klees of Grubb & Ellis represented the lessor, PCCP Bar I LLC, in the transaction.
FEDERAL WAY, WASH. — Liquid Capital has acquired Silver Shadow apartments in Federal Way from Silver Shadow LLC for $13.45 million. The property, located at 27606 Pacific Highway South, features 11 two- and three-story buildings with 44 one-bedroom units, 72 two-bedroom units and 16 three-bedroom units. Amenities include a clubhouse, a heated indoor pool, a spa and an exercise room. Jim Claeys of Apartment Realty Advisors’ Seattle office represented the buyer, who acquired the property to complete a 1031 Exchange.
MILWAUKIE, ORE. — Norris & Stevens/TCN Worldwide has brokered the $7.6 million sale of Pointe West in Milwaukie. Pointe West Apartment LLC sold the 93-unit property to a representative of a personal living trust in Northern California. The property’s location allows for direct access to Interstate 205, Highways 99E and 224, and Portland International Airport. Nancy McNeill with Norris & Stevens represented the seller in the transaction.
TUCSON, ARIZ. — The Pima County Joint Technological Education District has acquired 2855 W. Master Pieces Dr., a 9,800-square-foot parcel in Tucson, from Shannon Park LLC for $1.9 million. Tom Knox of PICOR Commercial Real Estate Services represented the buyer and CB Richard Ellis represented the seller in the transaction. In addition, St. Demetrius Greek Orthodox Church has acquired 8.07 acres at 3232 E. River Rd. in Tucson from George A. Masek Revocable Trust and Richard L. and Helen A. Masek for $1.25 million. Peter Douglas of PICOR Commercial Real Estate Services represented the buyer and Leonard Anderson of Windmill Realty represented the seller in the transaction.
SAN BERNARDINO, CALIF. — Griffin Partners has acquired Mountainside Village Apartments, a 197-unit multifamily community located in San Bernardino. Mark Chalfin of Revere Investments sold the property for $26.5 million or $161 per square foot. Located at 1660 Kendall Dr., the 164,770-square-foot property consists of 20 one- and two-story buildings situated on a 12.48-acre lot. The community offers a mix of two- and three-bedroom units, two swimming pools with poolside barbecue and picnic areas, a sand volleyball court, a basketball court, a children’s play area and two on-site laundry rooms. Alex Mogharebi of Marcus & Millichap represented both parties in the transaction.
LAKE HAVASU CITY, ARIZ. — Wolford Development is developing The Shops at Lake Havasu, a 720,000-square-foot lifestyle center currently under construction in Lake Havasu City. Located at 5601 Highway 95 North, the center will be anchored by a 98,080-square-foot Dillard’s, a 104,430-square-foot J.C. Penney and a 201,821-square-foot Wal-Mart. Other tenants include PetSmart, a 10-screen UltraStar Cinema and Michaels Arts & Crafts. Additionally, the development will offer seven out parcels for retail and restaurant businesses. The company plans to open the center with a series of phased grand opening events starting in March.
CONCORD, CALIF. — New Jersey-based Fidelity has acquired a 104,160-square-foot freestanding retail building, which is located at 1695 Willow Pass Rd. in Concord, from Santa Ana, Calif.-based SDL Concord Partners for $16.4 million. Originally built in 1978, the property is located within the Park & Shop Shopping Center and is 100 percent occupied by Fry’s Electronics. Jeff Conover of Irvine, Calif.-based Faris Lee Investments represented both parties in the transaction.
SAN DIEGO — San Diego-based Gateway Management has purchased Scripps Crest Corporate Center, a 31,073-square-foot office building located at 9845 Erma Rd. in San Diego, for $5 million. The property, which consists of two floors of office space over a one-level parking garage, is currently 53 percent leased to 13 tenants, including First Associates Mortgage, Dynamics Research Corp., Scripps Mortgage and Forsythe Appraisals. Michael Roberts, Brian Starck, Steve Rowland, Tony Russell and Richard Gonor of Grubb & Ellis|BRE Commercial represented the buyer and the seller, Pacific Equity Ventures LLC, c/o Andrew Kaplan, in the transaction
SAN DIEGO — Sunroad Enterprises is currently developing Sunroad Centrum I, an 11-story office tower located on Kearny Villa Road in San Diego’s Kearny Mesa area. The 275,000-square-foot property was designed by Brian Paul & Associates, and will be Kearny Mesa’s first LEED certified office tower. Completion of the project is slated for early May. The tower is the first phase of development within Sunroad Enterprises’ master-planned Sunroad Centrum community, which, when complete, will include 1 million square feet of Class A office space, more than 1,000 residential units and a 2-acre park.