LOVELAND, COLO. — The Boys & Girls Club of Larimer County and Loveland-based McWhinney are developing a new club facility, which will be located at 2500 E. First St. in southwest Loveland next to New Vision Charter School. The more than $3 million project will offer 20,000 square feet of space that will serve up to 300 children. The facility will feature a gymnasium, two classrooms, a learning center, a computer lab, a kitchen, office and storage space, an open game room, a library, two art rooms, a music room and a teen room. Sinnett Builders is serving as general contractor for the project, which is slated to open in August.
Western
TEMECULA, CALIF. — Rancho Santa Fe, Calif.-based A&M Properties West Inc. has completed the disposition of Temecula Creek Villas, a 180-unit apartment community located at 31220 Samantha Lane in Temecula. A Newport Beach, Calif.-based private investor purchased the property for $36.9 million or $205,000 per unit. Constructed in 2007, the property consists of nine three-story buildings offering a mix of one-, two- and three-bedroom units averaging 1,073 square feet. The community also features detached garages, gated/controlled access, a fitness center, an indoor racquetball court, saunas, and a swimming pool and spa. Paul Runkle of Hendricks & Partners’ Inland Empire office represented the seller; William Battaglia of WB Holdings Inc. represented the buyer in the transaction.
MILPITAS, CALIF. — Westcore Properties LLC, doing business as Westcore Milpitas LLC, has acquired a nine-building industrial portfolio, which is located along Gibralter Drive in Milpitas, from Flextronics International USA Inc. for an undisclosed price. Situated on a 33.5-arce site, the portfolio offers 499,206 square feet of manufacturing space. Flextronics International USA will continue to occupy the buildings under a 10-year lease. Dan Hollingsworth of CPS/CORFAC International represented both parties in the transaction.
SEATTLE — Broadreach Capital Partners and joint venture partners Continental Properties and Unico Properties have sold 1915 Terry, a 252,000-square-foot, mid-rise office tower in Seattle, to Seattle-based Children’s Hospital for $35.9 million. The Broadreach-led partnership acquired the seven-story building in 2006 and negotiated a 15-year lease with Children’s Hospital for the entire building that included a buy-out option in 2007.
SAN FRANCISCO — Houston-based Noteware Development has broken ground for the construction of 5800 Third Street, the company’s second venture in San Francisco’s Bayview Candlestick Point neighborhood. Located on the site of a former Coca-Cola plant, the project will include 360 one- to three-bedroom residential homes, including 47 affordable units, and 20,000 square feet of retail space. United Kingdom-based grocer, Fresh & Easy, will anchor the development.
LOS ANGELES — California-based Gafcon Inc. has completed the 43,000-square-foot first phase of Village Walk, a upscale retail center in Los Angeles’ San Fernando Valley. Located at 18660-18728 Ventura Blvd. within the community of Tarzana, the project is owned by The Village at Tarzana LP and being developed by Pacific Equity Properties Inc. The project features a two-story, steel-framed building with 11 units for retail space and restaurant use. Additionally, Gafcon has been retained for the second phase of the project, which includes a Whole Foods Market-anchored 286,000-square-foot center. California-based W.E. O’Neil Construction Co. served as general contractor; Gruen Associates provided architectural services for the project.
PHOENIX — Minnetonka, Minn.-based Carlson Real Estate Co. has acquired Opus Cotton Center, a four-building, 265,000-square-foot commercial complex in Phoenix, from Minneapolis-based Opus Real Estate Fund VI (ORE) and Phoenix-based Opus West Corp. for $46.1 million. The buyer plans to rename the property Cotton Center IV to represent the four flex buildings that make up the project. The buildings range in size from 57,055 to 82,825 square feet. At the time of acquisition, the complex was 77 percent occupied by tenants such as Inter-Tel Technologies, Genzyme Corp., Sodexho and AETNA Insurance. Brian Ackerman, Chris Toci, Pat Harlan, Mike Beall and Jim Wilson of Cushman & Wakefield brokered the transaction.
MORENO VALLEY, CALIF. — Greg Gill and John Bowman of Charles Dunn Company, a partner of GVA Worldwide, has negotiated a 10-year lease for March Commerce Center, a 613,174-square-foot industrial center located at 22150 Goldencrest Dr. in Moreno Valley, for Dayville, Conn.-based United Natural Foods Inc. (UNFI). UNFI plans to occupy the entire building, which was built in 2006 and never occupied. Gus Andros and John Murphy of Collins Commercial, along with Bruce Springer of Grubb & Ellis, represented the landlord, Cactus Commerce LLC, in the transaction, which was valued at $28.5 million.
CENTENNIAL, COLO. — Crown West Realty has purchased Plaza Quebec, a 94,400-square-foot office building located at 6025 S. Quebec St. in Centennial, from Principal Financial Group for $10.25 million. The company plans to upgrade the three-story property, which was built in 1984, to Class A status. Currently, the building is 93 percent occupied. Ryan Stout and Nate Bradley of Grubb & Ellis are marketing and leasing the property, which will have 20,000 square feet of space available for lease during 2008 and 2009.
BEVERLY HILLS, CALIF. — New Pacific Canon LLC, an entity of Beverly Hills-based New Pacific Realty Corp., has acquired 9399 Wilshire Boulevard, an approximately 10,187-square-foot office/retail property in Beverly Hills, for $10.35 million or $1,016 per square foot. Built in 1954, the two-story property was 95 percent occupied at the close of escrow. The buyer plans to utilize the top floor as its new corporate headquarters. The first floor includes a retail tenant, Johnathon Arndt Gallery of Jewels. Dennis Herzig of Sperry Van Ness’ Los Angeles office represented both the buyer and the seller, Beverly Hills-based Guy Price Inc., in the transaction.