SAN DIEGO — JLL Capital Markets has negotiated the sale of a 9.3-acre redevelopment site consisting of a 185,051-square-foot former department store in San Diego. A joint venture between Jofa Capital and BLT Enterprises acquired the asset from a private seller for an undisclosed price. Located at 1555 Camino De La Reina, the redevelopment site is adjacent to the Mission Valley Mall. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL Capital Markets Investment and Sales Advisory team represented the seller in the deal.
FAIRFIELD, CALIF. — CBRE has brokered the sale of Green Tech Plaza, a research-and-development facility and industrial site at 5253 Business Center Drive in Fairfield. Eastbourne Investments sold the asset to ATI Windows for $11.5 million. Built in 2000 as a call center, Green Tech Plaza offers 103,128 square feet of space, more than 721 parking stalls and over 40,000 square feet of solar panels. Additionally, the building is entitled for the addition of two docks and two grade-level doors. The new owners plan to use the property as a showroom, office and light manufacturing facility. Brooks Pedder, Tony Binswanger and Matt Post of CBRE represented the seller and buyer in the transaction.
PHOENIX — Thoma-Holec Design has been tapped to lead the interior design of five new Acanthus Senior Living developments. Each of the projects, all located throughout metro Phoenix, will be situated on a Catholic church property. The developments, which will comprise roughly 150 units each, will be located at St. Benedict Catholic Church in Ahwatukee, St. Clare of Assisi Catholic Church in Surprise, St. Raphael Catholic Church in Glendale, St. Gabriel Catholic Church in Cave Creek and St. Joesph Catholic Church in Phoenix. Open to individuals of all faiths, the communities will offer independent living, assisted living and memory care residences. Acanthus Development is scheduled to begin construction on the first of the communities, in Ahwatukee, in April of this year. “We are privileged to contribute to Acanthus’ innovative approach of integrating senior living communities within church grounds,” says LuAnn Thoma-Holec, principal of Thoma-Holec Design. “Our designs will reflect the unique cultural and spiritual essence of each parish, creating environments that support residents’ physical, emotional and spiritual well-being.”
COLTON, CALIF. — Progressive Real Estate Partners has brokered the $5.2 million sale of a single-tenant retail property located in Southern California’s Inland Empire occupied by a Mobil Gas Station. Victor Buendia of Progressive represented both the undisclosed seller and buyer, an Inland Empire-based private investor, in the transaction. The buyer plans to renovate the convenience store.
PHOENIX — Los Angeles-based IMT Capital, along with its affiliated property management company IMT Residential, has purchased Marquis at Desert Ridge from a national multifamily investor and operator for an undisclosed price. IMT will rebrand the community as IMT Desert Ridge. Built in 2014, the community features 370 one- and two-bedroom units with select upgrades, including wood-style plank flooring, quartz countertops in the kitchen and baths, stainless steel appliances, custom cabinetry with brushed nickel hardware, full-size washers/dryers, 9- to 14-foot ceilings, open-concept floor plans and private balconies or patios. Onsite amenities include a resort-style swimming pool and spa area with a sundeck lounge and cabanas, an outdoor kitchen and grill stations, a 24-hour fitness center, residential clubhouse with an entertaining kitchen, billiard room and a business center. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Green of CBRE represented the seller in the transaction.
ORANGE, CALIF. — Premier Design + Building Group has broken ground on Orange Logistics Center, the firm’s first project for IDI Logistics in the Western region. Orange Logistics Center will feature two industrial facilities offering a total of 285,719 square feet. The 189,519-square-foot Building 1 will offer 10,000 square feet of office space, a clear height of 36 feet, 25 dock doors and 172 parking spaces. The 99,200-square-foot Building 2 will include a 10,000-square-foot office space, a clear height of 32 feet, 11 dock doors and 106 parking spaces. The facilities will include sustainable features such as a carbon reduction slab system and are designed to achieve LEED certification, with the potential for Silver status. The project team includes HPA Architecture, HSA & Associates, Thienes Engineering, General Underground Fire Protection, Guy Yocom Construction, Engineering Resources and Hunter Landscape. Lee & Associates is serving as the project’s real estate broker.
VANCOUVER, WASH. — Gantry has secured a $23 million permanent loan to refinance the Mission Hills Apartments located at 11900 NE 18th St. in Vancouver. Situated on 33 acres, the property includes 556 one-, two- and three-bedroom apartments in multiple buildings. Community amenities include a club house, pool, spa and other Class A amenities. Blake Hering and Abi Hunter of Gantry represented the borrower, a private real estate family. The 10-year, fixed-rate loan was secured through one of Gantry’s correspondent life company lenders and features nonrecourse terms and a 30-year amortization schedule. The loan retires two maturing loans placed on different phases of the property.
NORTH LAS VEGAS, NEV. — Rockefeller Group has completed the construction of Cheyenne Industrial Park, a 145,630-square-foot complex located at 3130 N. Lamb Blvd. and 4375 E. Cheyenne Ave. in North Las Vegas. Cheyenne Industrial Park features two buildings. The 104,440-square-foot building offers a clear height of 32 feet, 18 dock-high doors, two grade-level doors, a 135-foot gated truck court, 105 auto parking stalls, 2,000 amps of power and 2,528 square feet of office space. The 41,190-square-foot facility features a clear height of 30 feet, four dock-high doors, one grade-level door, a 135-foot gated truck court, 62 auto parking stalls, 1,200 amps of power and 1,995 square feet of office space. Both buildings feature six-inch slab thickness, LED lighting, TPO roofing, ESFR sprinklers and evaporative coolers. HPA Architecture served as architect and Martin Harris Construction served as general contractor for the project. Rob Lujan, Jason Simon and Danny Leanos of JLL are marketing the buildings for lease or sale.
PHOENIX — Kidder Mathews has arranged the sale of Rancho Encanto, a grocery-anchored retail center in Phoenix. Dayanim Real Estate Corp. sold the asset to Junam Enterprises for $10.5 million. Located at 3434 W. Greenway Road, Rancho Encanto offers 70,439 square feet of retail space, with Smart & Final and Aaron’s as anchor tenants. Darren Tappen, Nathan Thinnes, Pete Beauchamp and Patrick Gardner of Kidder Mathews represented the seller and buyer in the deal. Following the sale, Junam Enterprises selected Kidder Mathews to manage the property.
KELSO, WASH. — A joint venture between Trammell Crow Co. (TCC) and Diamond Realty Investments has completed the construction of Mid I-5, a speculative industrial facility at 2700 Talley Way in Kelso, approximately 50 miles north of Portland, Ore. Situated on 82 acres, Mid I-5 features a 1.2 million-square-foot industrial and logistics building. The single-story, cross-dock facility features a clear height of 40 feet, 650-foot building depth, 8,000 amps of electrical service, 219 dock doors, 348 trailer parking stalls and 427 auto parking stalls. The project also includes adjacent land that could accommodate 475 additional trailer stalls, a yard area or 225,000 square feet of additional development. The facility is expected to become LEED-certified in this year. The project team included Sierra Construction as general contractor, Gibbs & Olson as civil engineer and HPA Architecture as architect of record. Cara Nolan of CBRE Portland and Andrew Stark of CBRE Seattle are handling the property’s marketing and leasing.