CITY OF INDUSTRY, CALIF. — Voit Development Company has completed the disposition of two speculative industrial buildings, which the firm developed in the City of Industry, for $9.7 million. The buildings were part of the company’s three-building project, which included a third-party 144,000-square-foot, built-to-suit distribution and office center for FreshPoint of Southern California, a wholly owned subsidiary of SYSCO Corp. The 31,296-square-foot and 31,914-square-foot buildings are located on separate land parcels totaling more than 3 acres at Long Lane and Nelson Avenue. Mark Latimer and Ryan Lewis of CB Richard Ellis’ Santa Fe Springs, Calif., office represented the company in both transactions. The buyers were not disclosed.
Western
SAN DIEGO — Costa Mesa, Calif.-based Donahue Schriber has signed its first lease with Fresh & Easy Neighborhood Market to open at Plaza Sorrento, a 98,000-square-foot retail center located at the southwest corner of Mira Mesa Boulevard and Camino Santa Fe Road in the Sorrento Mesa area of San Diego. A company of United Kingdom-based Tesco, Fresh & Easy will open a 15,000-square-foot store this fall offering customers everything from everyday staples to gourmet items, including prepared meals and organic foods at the company’s trademark affordable prices.
INDUSTRY, CALIF. — Masco Corp. has completed the disposition of an 871,024-square-foot industrial property, which is located at 825 S. Ajax Ave. in Industry. 82A Developments LLC purchased the property for $15 million. The buyer plans to demolish one of the existing buildings, which is approximately 10,000 square feet, and redevelop the land into an industrial park that will include small units for lease. Craig Phillips of Lee & Associates represented both parties in the transaction.
WALLA WALLA, WASH. — Blue Mountain Plaza LLC has purchased Blue Mountain Mall, which is located at the corner of West Rose Street and Myra Road in Walla Walla, for $9.2 million. The 230,360-square-foot mall is anchored by Sears, Gottschalks and Shopko, which was not part of the sale. The sale also included an adjacent 22-acre parcel for expansion. Ron Allum of NAI Fuller Real Estate listed and marketed the property on behalf of the seller, Meyer Properties.
SAN DIEGO — Poway, Calif.-based Breshears & Ghianni Builders Corp. has developed Ruffin Road Business Plaza, a Class A two-story office building located at 5055 Ruffin Rd. in San Diego. Designed by Ware Malcomb’s San Diego office, the 48,000-square-foot property features an interior elevator, lobby and central staircase, and an exterior courtyard/plaza area with landscaping. Poway-based K.D. Stahl Construction Group served as general contractor for the project.
TIGARD, ORE. — Cohen Financial has secured a $12.5 million loan for the acquisition of Brightwaters at Redhawk Apartments, a 224-unit apartment community located at 16100 SW 108th Ave. in Tigard. Pringle Construction Co. acquired the 210,000-square-foot property, which features one- and two-bedroom apartments. Paul Schroeder and Michael Mason of Cohen Financial’s San Francisco office arranged the non-recourse, 50 percent loan-to-value, 10-year term loan through an undisclosed regional bank.
AURORA, CALIF. — Rob Edwards, Scott Wayne and Jason Ortiz of Marcus & Millichap have completed the sale and acquisition of Sunburst Center, a strip shopping center located at 16300 E. Quincy Ave. in Aurora. Johnson Investments Inc. sold the property to a Denver-based private investor for $2.6 million. At the time of acquisition, the property was fully occupied by multiple tenants.
EL CAJON, CALIF. — NewMark Merrill Cos. has acquired Town & Country Center, a 52,990-square-foot shopping center located at the corner of N. Second St. and Madison Ave. in El Cajon. The company purchased the property for just under $11 million. At the time of acquisition, the center was 90 percent occupied by a variety of tenants, including Rite Aid, Baskin Robbins and Everything $5.99. NewMark has an extensive renovation planned for the development. Peter Bethea of Cushman & Wakefield represented the seller in the transaction. Financing was provided by Wells Fargo Merchant Bank.
TEMPE, ARIZ. — Southfield. Mich.-based Signature Healthcare Services LLC has purchased a 51,200-square-foot building, which is located at 6350 S. Maple Ave. in Tempe, for $5.9 million. The company plans to use the property as a behavioral health facility. Judy Bluhm and Charlie Carson of Century 21 represented the buyer; Pat Harlan, Steve Sayre, Mike Sayre and Katy Boyd of Cushman & Wakefield of Arizona represented the seller, Portland, Ore.-based ScanlanKemperBard Companies, in the transaction.
HONOLULU — The two-level retail expansion has opened at Ala Moana Center, a shopping center located at 1450 Ala Moana Blvd. in Honolulu. The expansion offers more than 300,000 square feet of retail space, including Hawaii’s first full-line Nordstrom and 17 new tenants. New tenants include J. Crew-on-the-Island, Design Within Reach, Vera Bradley, Chico’s, Bare Escentuals and Blue Hawaii Lifestyle. The expansion grand opening coincides with the mall’s spring fashion show, which will feature spring trends and styles.