ALBUQUERQUE, N.M. — Walt Arnold of Sperry Van Ness/Walt Arnold Commercial represented Albuquerque-based Prospect LLC in the disposition of a 28,800-square-foot industrial building, which is located at 4121 Prospect. 4121 Prospect LLC purchased the property for an undisclosed price. Built in the 1960s, the building was 50 percent occupied by Document Solutions at the close of escrow. The buyer was self-represented.
TEMPE, ARIZ. — Robert Reisner of Tempe-based RWR Enterprises LLC has acquired Broadway Plaza Tempe, a 12,961-square-foot retail building in Tempe. Located at 1740 E. Broadway, the property sold for $4.57 million or $359 per square foot. Erik Marsh of Marcus & Millichap’s Phoenix office represented the buyer; Jamie Medress and Mark Ruble, also of Marcus & Millichap’s Phoenix office, represented the seller, Alan Roselinsky of Las Vegas-based Broadway McClintock Plaza LLC, in the transaction.
VENTURA, CALIF. — Transport Street LLC has purchased a 19,028-square-foot industrial building for $2.6 million. The single-story, tilt-up industrial building is located at 4277 Transport St. in Ventura. Mark Kotake of DAUM Commercial Real Estate Services represented the buyer; Mike Tharp and David Young of NAI Capital represented the seller, Libra Investments, in the transaction.
FONTANA, CALIF. — Heery International has completed Lewis Library and Technology Center, a $65 million civic facility located within Civic Center Park in Fontana. Part of the city’s civic center redevelopment program, the 93,000-square-foot library and technology center houses a collection of more than 142,000 publications, including 7,850 reference, media and periodical items; a 330-seat auditorium; the Dr. Martin Luther King Jr. Children’s Library; public meeting rooms; a homework center with bilingual materials; a Friends of the Library bookstore; a career center; a literacy center with tutoring programs; a 203-computer technology center and a café. The Los Angeles office of RNL Design provided architectural services for the project.
SEATTLE — Capmark Finance Inc. has originated a $28 million floating-rate, interim loan for the acquisition of the 4th & Pike Building, an office property located in Seattle. An affiliate of The Mayfield Companies acquired the 99,491-square-foot property. Tenants of the property include Ben Bridge Jewelers, Quicksilver and Walking Company. Tom Bracken and Robert Newstead of Capmark Finance’s San Francisco office arranged the financing, which was funded by Wrightwood Capital.
VACAVILLE, CALIF. — Westrust has completed the 40,000-square-foot retail component of Nut Tree Valley, a 333,000-square-foot, mixed-use lifestyle center in Vacaville. The component consists of two Class A office buildings that are divisible by suites as small as 900 square feet. The two-story buildings offer signage opportunities along the freeway, freeway access, glass lines and elegant lobbies. Nut Tree Village offers more than 40 retailers and restaurants, as well as a 10,000-square-foot Market Pavilion.
HOLLYWOOD, CALIF. — Los Angeles-based Empire Investments LLC has purchased East Village Hollywood, a 49,023-square-foot apartment/retail property located at 5718-5728 Hollywood Blvd. in Hollywood, for $12 million at a 6 percent cap rate and 11.6 GRM. The four-story building comprises 41 apartments and more than over 2,800 square feet of retail. Built in 2006, the property was 100 percent leased at the time of acquisition. Retail tenants of the property include a steakhouse restaurant with full bar and a coffee shop. The seller was Maman Properties LLC and the Stewart Trust of Los Angeles. Dana Brody and Martin McDermott of Grubb & Ellis represented both parties in the transaction.
CARLSBAD, CALIF. — H.G. Development Company is developing Carlsbad Medical Center, a 40,655-square-foot medical office development located at 2176 Salk Ave. in Carlsbad. Being built exclusively for Scripps Health, the new center will offer medical office and exam rooms and radiology office space. Completion is slated for October. Rod Wright provided architectural services for the project; Perkins & Will are providing interior design services; Ledcor Construction served as both the shell and tenant-improvement contractor.
SALT LAKE CITY — Holliday Fenoglio Fowler (HFF) has arranged a $74 million loan for Trolley Square, a four-building lifestyle center in Salt Lake City. Working on behalf of ScanlanKemperBard Cos., Lloyd Minten of HFF secured the loan with Bank of America as administrative agent in syndication with Wachovia. The financing recapitalizes an existing adjustable-rate loan that was arranged by HFF in 2006 to fund the acquisition and redevelopment of the site. Originally built in 1908 as a trolley barn complex, Trolley Square is listed on the National Register of Historic Places and is designated a Utah Historic Site. Currently, the center is 61 percent occupied by 32 tenants.
CENTENNIAL, COLO. — Denver-based Aardex LLC is planning to develop Signature Tower, a 410,000-square-foot office tower in Centennial. Located at the corner of East Peakview Avenue and South Syracuse Way, the 15-story tower is designed to be LEED-Platinum certified. The building will feature six floors of structured parking, under floor air for individual temperature and ventilation control, and large clerestory windows for natural daylight.