PHOENIX — Aslan Realty Partners III, a partnership led by California-based Transwestern, has purchased Anchor Centre, a two-building office complex located at 2201 and 2231 E. Camelback Rd. in Phoenix. 2201 Camelback Associates LLC, a partnership led by Denver-based Alliance Commercial Partners, sold the property for $96 million. Built in the early 1980s, the 333,265-square-foot property was 89 percent leased to a variety of tenants, including Starwood Hotels, Northwestern Mutual, JP Morgan Chase Bank and Ruth’s Chris Steakhouse, at the time of acquisition. Chris Toci, Ted Harrison, Larry Downey and Jerry Jacobs of Cushman & Wakefield brokered the transaction.
Western
SAN FRANCISCO — San Francisco-based Chartres Lodging Group, formerly known as Oxford Lodging Advisory and Investment Group, has completed its acquisition of the 4,867-room Adam’s Mark hotel portfolio from St. Louis-based HBE Corp. The buyer plans to renovate, rebrand and reposition the five properties included in the portfolio. Chartres has an $87 million renovation planned for the 1,840-room Adam’s Mark Dallas, which will be rebranded as Sheraton Dallas Hotel; a $70 million repositioning plan for the 1,225-room Adam’s Mark Denver, which will rebrand the property as Sheraton Denver Hotel; a $63 million renovation for the 910-room Adam’s Mark St. Louis, which will reposition the hotel as the Hyatt Regency St. Louis Riverfront; an $18 million renovation plan for the 406-room Adam’s Mark Indianapolis; and a multi-million renovation for the 486-room Adam’s Mark Buffalo-Niagara in Buffalo, N.Y.
HAYWARD, CALIF. — Craig Hagglund of Lee & Associates East Bay Inc. represented the undisclosed buyer in the $9.8 million acquisition of an approximately 101,000-square-foot warehouse facility, which is located at 3528 Arden Rd. in Hayward. Currently leased to Alexander’s Moving & Storage, the property features 28-foot clear ceiling heights, high-density sprinklers and ample truck parking. Tom Gilmer of Lee & Associates represented the undisclosed seller in the transaction.
PORTLAND, ORE. — Portland-based Real Estate Recovery Associates-13th Street Investors LLC has purchased Forest & Garden Apartments, a 51-unit apartment community located at the intersection of 20th and Hoyt/Irvine streets in Portland, for $4.75 million. Built in 1925, the two-building property was 100 percent occupied and offers 22 studio units, 28 one-bedroom units and one two-bedroom unit. Bill Younce of Sperry Van Ness’ Portland office represented the buyer; Riverview Bank Trust Department represented the seller, a private investor from Portland, in the transaction.
COLORADO SPRINGS, CALIF. — San Luis Obispo, Calif.-based CenterVest Capital has acquired Albertson’s Center at Norwood, a 73,082-square-foot retail center located at 6945-7095 Austin Bluff Pkwy. in Colorado Springs, for $12.7 million. The two-building center is currently anchored by Albertson’s and consists of two vacant pads totaling more than 3 acres. Marty Indvik of Senn-Lee & Associates represented the buyer; Mike Winn, Tim Richey and Chad Flynn of Cushman & Wakefield represented the seller, APC Austin Bluffs LLC, in the transaction.
ROCKLIN, CALIF. — Auburn, Calif.-based SRP Terrace has acquired Granite Creek, an 80-unit apartment community located at 1501 Cobble Creek Circle in Rocklin. Richmond, Calif.-based Granite Creek Apartments Inc. sold the property for $10.25 million. Steven Nelson, Al Inouye and Jackie Van Steyn of Hendricks & Partners’ Sacramento, Calif., office represented the buyer in the transaction.
SANTA ANA, CALIF. — Equitable Orange County Office Building LLC has purchased a 58,566-square-foot office building in Santa Ana for $7.8 million. Located at 900 N. Broadway, the building is occupied by the Orange County District Attorney and local attorneys and real estate firms. At the time of acquisition, the property was 90 percent leased. Gil Marrero, Alan Pekarcik, Dan Vittone and Jeff Williams of Voit Commercial Brokerage’s Irvine, Calif., office represented the buyer and the seller, 900 North Broadway LLC, in the transaction.
TUSTIN, CALIF. — PI Properties No. 19 LP has acquired Tustin Business Center, a 44,948-square-foot office complex located at 17802-17842 Irvine Blvd. in Tustin, for $7 million. Built in 1972, the two-building, two-office complex is situated on two legal parcels totaling more than 2 acres. Michael Lawrence of Marcus & Millichap represented the seller, Tustin Business Center LP, in the transaction; Gregory Harris and Andrew Hodac, also of Marcus & Millichap, represented the buyer.
FONTANA, CALIF. — Ryko Products has completed the $10 million sale-leaseback of its 139,630-square-foot industrial property, which is located at 12903 Jurupa Ave. in Fontana. Ryko Products, a custom profile plastic extruders, currently occupies the building, which serves as the company’s headquarters, manufacturing and distribution hub. Clyde Stauff and Stephen Calhoun of Colliers International’s Commerce, Calif., and Michael McCrary of Colliers’ Ontario, Calif., office represented the seller and the buyer, a private investor, in the transaction.
SANTA MONICA, CALIF. — Arnon Development has acquired a 30,000-square-foot land parcel, which is located on 16th Street in Santa Monica, from Spruce Realty Group for $13.25 million. The company plans to develop a 50,000-square-foot outpatient medical center on the property. Designed by architect Eric Shen, the Class A center will feature subterranean parking. Groundbreaking is slated for second quarter 2009, with completion scheduled for second quarter 2010. Gary Weiss and John Mudgett of Madison Partners represented the buyer; Dennis Ellman of Greenberg Glusker LLP represented the seller in the transaction.