TEMPE, ARIZ. — Tolleson, Ariz.-based Russell Sigler Inc. has purchased a 27,576-square-foot warehouse building in Tempe for $2.62 million. Located at 1976 E. Fifth St., the property was built in 1983. Russell Sigler Inc. relocated to the single-tenant industrial facility in August. The seller was Phoenix-based 5 G’s Realty Company. Jim McCabe of Phoenix-based Realty Executives represented the buyer; Andrew Brigham, Bill Bayless, Barry Gabel, Mindy Korth and Mark Dancer of CB Richard Ellis’ (CBRE) Phoenix office represented the seller.
SANTA CLARITA, CALIF. — A joint venture between Parker Properties and RREEF Alternative Investments has developed Summit Oaks, a Class A office property located at 28515 Westingthouse Place in Santa Clarita. Situated within the master-planned community of Valencia, the five-story, 144,000-square-foot building offers flexible, 28,000-square-foot floor plates, first-class commons areas and a ground-floor lobby with a two-story atrium. The approximately $45 million facility offers immediate access to Interstate 5 and Highway 126. Snyder Langston served as general contractor for the project, which is seeking LEED-Silver certification.
PHOENIX — California-based Fenway Properties has purchased Camelwest Plaza, a 173,388-square-foot office development located at 1951 and 2001 W. Camelwest Rd. in Phoenix. The property, which includes two four-story buildings and two three-story parking garages, sold for $9.5 million. At the time of acquisition, the property was 70 percent occupied. Koll Bren Fund V, managed by Newport Beach, Calif.-based Koll Bren Schreiber Realty Advisors, sold the property. Trevor Klinkhamer, Ray Harris and Alissa Leon of Grubb & Ellis|BRE Commercial, along with former Grubb & Ellis|BRE brokers Dennis Desmond and Nathan Thinnes represented the seller. Mark Lucescu of Newport Beach-based Lucescu Realty also represented the seller in the transaction. The buyer was self-represented.
TUCSON, ARIZ. — Apple REIT Eight has acquired the Hilton Garden Inn Tucson Airport in Tucson for an undisclosed price. Located at the gateway to the Tucson International Airport, the hotel offers 128 rooms. Additionally, the property is in close proximity to Pima Air & Space Museum, Kitt Peak Observatory, The Sonora Desert Museum, casinos, restaurants and downtown nightlife. The hotel was developed by the seller, Overland Park, Kan.-based Sunway Hotel Group, and opened in March 2008. Scott Griemsmann of NAI BT Commercial’s Hospitality Division represented the seller in the transaction.
SANTA FE SPRINGS, CALIF. — Santa Fe Springs-based Hansen Steel has acquired a metal industrial building in Santa Fe Springs for $9.2 million. Located at 11919 Smith Ave., the 85,912-square-foot property is a unique crane-served metal structure equipped with active rail service and is in close proximity to the Norwalk/Santa Fe Springs Metrolink station. Luke McDaniel and Cameron Driscoll of Voit Commercial Brokerage’s Anaheim, Calif., office represented both parties in the transaction. The seller was Newport Beach, Calif.-based Western Realco.
SEATTLE — First Industrial Realty Trust Inc. has purchased a 233,000-square-foot industrial portfolio in the Seattle market for an undisclosed price. The portfolio consists of three Class A distribution facilities, which are located in the Kent Valley submarket. The buildings offer easy access to the ports of Seattle and Tacoma, the Seattle-Tacoma Airport and Interstate 5. At the time of acquisition, the portfolio was 100 percent leased. Andrew Harnish and Chris Spofford of Jones Lang LaSalle assisted First Industrial in the transaction. The seller was not disclosed. Additionally, the company is currently investing in the development of two buildings, totaling 328,500 square feet, at First Park Meridian Campus in Lacey, Wash. The first building, which totals 198,000 square feet, is slated for completion in October.
STOCKTON, CALIF. — University of the Pacific has completed the development of The University Center, the campus’ first green building, which is slated to open in August. Designed by San Francisco-based Gensler, the two-story, 55,000-square-foot building will serve as the campus’ gathering place and dining facility. Situated along the Calaveras River, the facility features a two-story entry atrium, wireless Internet, a full-service pub, entertainment venues, high-tech meeting rooms and a gaming room. The project, which is seeking LEED Silver certification, also features retractable skylights, daylight sensors, large windows and doors for natural lighting and cooling; a mixed-mode heating and air conditioning system for natural ventilation; and various water-saving components, including dual-flush toilets and dishwashers that function with a minimum amount of water usage. The $38 million center was funded in part by donations, bonds, and operating and reserve funds. Milpitas, Calif.-based Devcon Construction Inc. served as general contractor for the project.
VISTA, CALIF. — Global Building and CITYMARK Development Corp. have developed Premier Crossing, a $20 million medical and professional office park in Vista. Located at the intersection of South Melrose Drive and Sycamore Avenue, the 51,716-square-foot project offers 10 buildings ranging in size from 3,870 to 6,280 square feet and are divisible to as small as 1,800 square feet. Davis Davis Architects provided architectural services for the for-sale project, while Richard & Richard Construction Company served as general contractor.
SAN DIEGO — Pacific Sorrento LLC has purchased Mira Oberlin Plaza, a 77,309-square-foot office building in San Diego. Westcore Oberlin LLC, an entity of Westcore Properties, sold the building for $24.9 million. The facility is located at 5880 Oberlin Dr. in the Sorrento Mesa area of San Diego. Fouy Ly of Sperry Van Ness’ Irvine, Calif., office represented the buyer; Westcore was self-represented in the transaction.
VISTA, CALIF. — Rexford Industrial LLC has acquired Century Industrial Center, which is located at 929-951 Poinsettia Ave. in Vista, for $10.38 million. The acquisition includes four building containing 13 units, which range in size from 3,000 to 19,000 square feet. The facility also offers 16- to 18-foot clear heights, as well as ground-level and dock-level loading doors. Joe McDermott, Jim Benson and John Witherall of Coldwell Banker Commercial represented the buyer and the seller, Poinsettia Vista Partners LLC, in the transaction.