SAN DIEGO — Sanison LLC has acquired two flex units totaling 4,630 square feet from Green Arrow LLC for $1.25 million or $270 per square foot. The units are located within the 155,000-square-foot industrial/R&D development Kearny Mesa Complex at 8975 Complex Dr., Units 4-1 and 4-4 in San Diego. Doug Works and Bill Dolan of CB Richard Ellis represented the seller; Ryan Bracker and Jon Boland of Voit Commercial represented the buyer in the transaction.
BONITA, CALIF. — California-based Alcott Estates LP c/o PVCC Inc. has acquired the Bonnie Brae Center, which is located on Bonita Road and Central Avenue in Bonita, for $13.88 million. The 53,512-square-foot retail center is anchored by the U.S. Post Office, Starbucks Coffee and Kentucky Fried Chicken. California-based VLD Bonnie Brae LP c/o R&V Management sold the property. Scott Duhs and Craig Duhs of Duhs Commercial Real Estate represented the buyer; Brian Quinn and John Still of Flocke & Avoyer Commercial Real Estate represented the seller in the transaction.
SAN BERNARDINO, CALIF. — Arrowhead Central Credit Union has acquired a 62,547-square-foot retail building, which is located at 420 S. E St. in San Bernardino, from San Bernardino Design Center LP for $3.95 million. The buyer plans to raze the existing building and develop a corporate campus on the site. David Moore of NAI Capital’s Riverside, Calif., office represented Arrowhead in the transaction; Tony Guglielmo of RE/MAX Commercial Pacific represented the seller.
SPOKANE, WASH. — Cohen Financial has arranged a $6.59 million loan for the refinancing of Bentley Apartments in the Airway Heights area of Spokane. Located at 1715 S. Hayford, the 100-unit property offers one- and two-bedroom floorplans. Nearing occupancy, the property is the first phase of a two-phase multifamily development. Peter Norrie of Cohen’s Portland, Ore., office secured the 7-year, fixed-rate, non-recourse, 75 percent loan-to-value financing for the borrower, Liberty Lake, Wash.-based Rudeen Development LLC.
NEWPORT BEACH, CALIF. — The PRES Companies has sold eight office condominiums in its newly completed projects, Dove Office Condos and Quail Office Condos in Newport Beach, for a total consideration of $3.87 million. The recently completed projects feature for-sale office condominiums with individual units ranging in size from 300 to 20,000 square feet. Recent buyers include law firm Garrett & Heaton, accounting firm Montagna & Associates and Urban Trends, a consumer design and development company. Both projects are located in close proximity to the 405 and 455 Freeways as well as the 73 Toll Road.
RIALTO, CALIF. — National Exchange Advisors LLC and Millennium Development Partners LLC have broken ground for the construction of The Shoppes at Creekside, a neighborhood shopping center in Rialto. Located at the corner of Riverside Avenue and the 210 Freeway, the 76,000-square-foot property will feature a variety of tenants, including Fresh & Easy Neighborhood Markets, Walgreens, Alta Vista Credit Union, Chevron and Corky’s Kitchen & Bakery. Pierce/Cooley Architects Inc. provided architectural services for the project; Murrieta, Calif.-based Darcon Builders is serving as general contractor. Completion is slated for February 2009.
OCEANSIDE, CALIF. — John Nguyen and Jonathan Mitchell of Marcus & Millichap’s Newport Beach, Calif., office, represented both parties in the disposition and acquisition of Country Club Apartments, an apartment community located at 201 Country Club Lane in Oceanside. The 91-unit property sold for $10.2 million or $112,088 per unit. The 76,638-square-foot community consists of one two-story building offering a mix of one-, two- and three-bedroom units. The property also features a courtyard, a laundry room and tuck-under parking. The buyer and seller were not disclosed.
CHINO, CALIF. — Meadow Square, a 250-unit apartment complex, has opened in Chino. Located at 7750 Desert Holly Street within master-planned The Preserve at Chino, the complex features 106 affordable housing units with rents ranging from $563 to $1,998. The property also offers one-, two- and three-bedroom floorplans ranging in size from 728 to 1,109 square feet. Each unit includes a full-size washer and dryer, complete kitchen appliance packages, double stainless steel sinks, oversized closets and hardwood-style flooring in the kitchens and entries. Western National Property Management, the property management arm of Western National Group, will manage the property.
CHANDLER, ARIZ. — Montana-based Highland Properties 2308 LLC has purchased an office/retail property, which is located at 8 S. San Marcos Pl. in historic downtown Chandler, for $4.03 million. Constructed in 1954, the 12,776-square-foot property is fully occupied with San Tan Brewery as the major tenant. Brian Ackerman and Karsten Peterson of Cushman & Wakefield of Arizona Inc. represented the seller, Chandler-based Desert Viking Properties LLC, in the transaction; Steve Julius, Eric Wolfe and Jesse Goldsmith of Marcus & Millichap’s Phoenix office represented the buyer.
PHOENIX — Tin Cup Properties LLC has acquired a 25,129-square-foot general industrial complex, which is located at 5213 W. Lamar Rd. in Phoenix, for $1.65 million. At the time of acquisition, the property, which was built in 1982, was 100 percent leased. Paul Boyle and Rick Danis of Grubb & Ellis|BRE Commercial represented the buyer and the seller, 5213 West Lamar Road Industrial Complex LLC, in the transaction.