GLENDALE, ARIZ. — Seattle-based Pillar at Westgate LLC (PrivatePortfolio Group LLC) has acquired Alexan Westgate, a 251-unit luxury multifamily community located at 6610 N. 93rd Ave. in Glendale. Scottsdale, Ariz.-based IGTBG Westgate Apartments L.P. sold the property for $46.43 million. Built in 2007, the property features gated access, a spacious clubhouse, a heated swimming pool and spa, a fitness center and a barbecue area. Sean Cunningham, Tyler Anderson and Jack Hannum of CB Richard Ellis’ Phoenix office represented the buyer.
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AVONDALE, ARIZ. — Satkritan Khalsa of Mountain View Management LLC has purchased Mountain View Apartments, a 150-unit apartment community in Avondale, for $10.25 million. Located at 333 E. Van Buren St., the property offers five different studio, one- and two-bedroom floor plans totaling 88,396 square feet. Bobby Bull and Matt Lockin of Transwestern represented the seller, Zachara Oprea, in the transaction; Arturo Rubi of Rabi Services represented the buyer.
LOS ANGELES — Bob Safai of Madison Partners represented both parties in the sale and acquisition of Corinth Gardens, a three-story office property located at 2211 Corinth Ave. in Los Angeles. Solomon Aryeh acquired the building for $9.6 million from PMI Financial. Built in 1988 and renovated in 1998, the 20-tenant property contains approximately 24,110 square feet of leased space, with a typical floor size of 7,660 square feet.
YUMA, ARIZ. — Yuma-based Fury Lane LLC has acquired a 37,100-square-foot retail center, which is located at 2816-2820 S. 4th Ave. in Yuma, for $6 million. The six-tenant property is anchored by Hastings Entertainment. Other tenants include Papa John’s Pizza, FACI Fashion Specialists, Sharkley’s Backpacks & Luggage, Elite Tanning and Elegant Nails & Spa. The center is also anchored by a CVS/pharmacy, which was not included in the sale. John Conover of Irvine, Calif.-based Faris Lee Investments represented the buyer and the seller, Indiana-based Hastings Development LLC, in the transaction.
ALBUQUERQUE, N.M. — Ground has broken for SCHOTT Solar’s new 200,000-square-foot solar manufacturing site in Albuquerque. Located within Forest City Covington NM’s 12,900-acre Mesa del Sol, the facility represents a planned $500 million, long-term investment by SCHOTT and employment of approximately 1,500 people at full production.
BALLARD, WASH. — Alliance Residential has broken ground for the construction of Broadstone Ballard, a 163-unit luxury apartment community located at 1139 NW Market St. in Ballard. The two-building property features a mix of stacked flats and high-bay loft style units. This development is part of the company’s promise to invest more than $200 million in the Seattle apartment market.
KENT, WASH. — Beverly Hills, Calif.-based KW Multifamily Group has acquired James Street Crossing, a 300-unit apartment community located at 6248 S. 242nd Pl. in Kent. Chicago-based Equity Residential sold the property for an undisclosed price. Constructed in 1989, the property is located just down the street from the extremely successful Kent Station development. Kenny Dudunakis of Hendricks & Partners’ Seattle office brokered the transaction.
SAUSALITO, CALIF. — Westcore Properties, on behalf of Westcore Marin, has acquired an 11-building portfolio in Sausalito for $26 million. The 134,812-square-foot portfolio includes office, restaurant, industrial and artist space. Jeff Traynor of Orion Partners represented the buyer, while Jerry Suyderhoud, also of Orion Partners, represented the seller, Marin Freeholders, in the transaction. Financing for the acquisition was provided by California Bank & Trust.
HILLSBORO, ORE. — KBS Realty Advisors has acquired Evergreen Park, a four-building light industrial park located on NW Evergreen Parkway in Hillsboro. The 10.56-acre property offers 172,000 square feet of space and is currently 83 percent leased to seven tenants. The acquisition price and the seller were not disclosed.
VERNAL, UTAH — The Merrill Group of Companies has acquired a 2.50-acre site, which is located at the corner of 2000 West and Highway 40 in Vernal, for an undisclosed price. The company plans to develop a four-story, 109-room hotel inn and suites, which will feature conference and meeting space, on the property. Completion is slated for third quarter 2009. David Frank provided in-house representation for the Los Angeles-based company in the transaction.