CARLSBAD, CALIF. — La Costa Glen Carlsbad, a continuing care retirement community in Carlsbad, has completed the construction of the 281-acre community’s final phase of development. The final phase features 211 apartment homes, 52 freestanding villas and a 32,000-square-foot Fairway Clubhouse. The clubhouse offers an expansive library with a fireplace, card rooms, restaurant dining and a wine cellar/private dining room. Additionally, the recent construction includes a 12,000-square-foot recreation and fitness center with a sauna; exercise, yoga and massage facilities; a heated, indoor swimming pool; a movie theater; and a pitch-and-putt golf course overlooking Batiquitos Lagoon.
Western
RANCHO BERNARDO, CALIF. — HP Enterprises is developing a 7,200-square-foot retail center, which is located on the corner of Rancho Bernardo Road and West Bernardo Drive in Rancho Bernardo. The center will feature two 1,050-square-foot units, a 1,175-square-foot unit, a 1,920-square-foot unit and a 2,018-square-foot unit. Starbucks Coffee has signed a 10-year lease for the 1,920-square-foot unit. Joseph Wong Design Associates provided architectural and design services for the project, which is slated for completion this summer. Tim Kerrigan of CB Richard Ellis is the exclusive marketing and leasing agent for the property.
VICTORVILLE, CALIF. — Stirling Capital Investments, a joint venture between Foothill Ranch, Calif.-based Stirling and Denver-based DT Industrial Trust Inc., has broken ground for the construction of a 1 million-square-foot speculative industrial facility within Southern California Logistics Centre in Victorville. The building will join five other buildings, which are part of the 6.5 million-square-foot first phase of development at the site. As a LEED-registered project, the facility will feature 32-foot clear height, 179 dock doors, concrete truck courts from 185 feet to 405 feet, 328 parking stalls, approximately 405 additional trailer parking spaces, ESFR sprinklers, a fenced yard and 3 percent skylights. Completion is slated for December of this year. Jay Dick, Darla Long, Mark Latimer and Marc Santoro of CB Richard Ellis are marketing the facilities on behalf of Stirling Capital Investments.
LOS ANGELES — AZ Wellesley Plaza LLC has acquired an 82,258-square-foot office building, which is located at 12304 Santa Monica Blvd. in Los Angeles’ Westside, from Santa Monica-Wellesley, a joint venture, for $28.9 million. Completed in 1981, the three-story building was 98 percent occupied at the time of acquisition. T.C. Macker and Craig Newlands of Coldwell Banker Commercial WESTMAC represented both parties in the transaction.
ENGLEWOOD, COLO. — Behringer Harvard, on behalf of Behringer Harvard REIT I Inc., has completed the disposition of 9100 Mineral Circle, an approximately 153,000-square-foot, four-story office building located in Englewood. The property, which is 100 percent occupied, is located within Panorama Business Park, and features dual-feed power, fiber optics, a raised floor computer room and a multimedia boardroom. The buyer and the acquisition price were not disclosed.
RANCHO CUCAMONGA, CALIF. — Irvine, Calif.-based Faris Lee Investments has brokered the pre-sale of Foothill Plaza, a 29,006-square-foot retail center located at the intersection of 15 Freeway and Foothill Boulevard in Rancho Cucamonga. An investment group led by San Diego-based Sechong I LLC purchased the property for $19.75 million or $681 per square foot. Built in July 2007, the property consists of four retail pads and a multi-tenant retail building. Current tenants include El Torito Grill, Citi Bank and El Pollo Loco. Jeff Conover of Faris Lee Investments represented the seller/developer, Newport Beach, Calif.-based Peninsula Retail Partners, in the transaction.
LOS ANGELES — Beverly Hills, Calif.-based Maxxam Enterprises has completed the construction of an approximately 60,000-square-foot wholesale center, which is located at 777 East 12th St. in the Fashion District of Los Angeles. The property provides space for stores and showrooms on wholesale women’s fashions and apparel on its ground and mezzanine levels. A full-service branch of Pacific City Bank occupies the second floor.
THORNTON, COLO. — Holland Residential has acquired Brittany Downs Apartments in Thornton from Brittany Apartments LLC and New York City-based Brittany Phase II Apartments LLC for $33.62 million. The 325,376-square-foot property is situated on 18 acres at 8849 Pearl St. It features 22 two- and three-story buildings, and 464 units. Dave Potarf and Dan Woodward of Marcus & Millichap’s Denver office represented both parties in the transaction.
PASADENA, CALIF. — Cambra Real Estate/Angelo Gordon Co. has acquired Old Pasadena Plaza I and Old Pasadena Plaza II from Old Pasadena Plaza II LLC for $32 million. The mixed-use properties total 72,815 square feet and are located at 61, 75-85, 87-91 and 95 N. Raymond Ave., and 54-56 E. Holly St. Bob Safai of Madison Partners represented the buyer in the transaction.
PORTLAND, ORE. — Urban Renaissance Group and Boston-based Great Point Investors have acquired the Morgan Building in Portland for $27.5 million. The 8-story, 156-984-square-foot historic building is located at 720 S.W. Washington St. in the central business district. It is currently home to Morgan’s Alley, a 17,500-square-foot retail arcade. The sellers name was undisclosed.