GILBERT, ARIZ. — CBRE has arranged the sale of a single-tenant retail ground lease at 6278 S. Higley Road in Gilbert. Arizona-based STF Retail Partners 1 sold the asset to Honggie Kim, a California-based private investor, for an undisclosed price. AutoZone occupies the 7,370-square-foot building, which is located within Chandler Heights Village shopping center. Joe Compagno of CBRE’s Net Lease Property Group in Phoenix represented the seller and buyer in the deal.
SANTA CLARA, CALIF. — TMG Partners, a San Francisco-based developer, has acquired The Quad, a 410,106-square-foot office campus in Santa Clara, a suburb of San Jose. J.P. Morgan Chase sold the property for an undisclosed price. Located at 3001 Tasman Drive, The Quad consists of seven two-story buildings that were constructed in 1982. Multiple owners and operators have acquired and renovated the property since its construction. The property is adjacent to the VTA Light Rail station three blocks from Levi’s Stadium, home of the NFL’s San Francisco 49ers. The Quad is also located four blocks from the upcoming Related Santa Clara, a 9.2 million-square-foot mixed-use project by Related Cos., which is also developing the high-profile Hudson Yards in Manhattan. Amenities include an outdoor courtyard, coffee shop, bocce ball court, food truck court and fitness center. The site is also entitled for an additional 150,000 square feet of construction. “TMG Partners was attracted to this property because of its stable, long-term cash flow; the Santa Clara location; our understanding of the need to provide office space for the many different size requirements of today’s tenants; and the existing suite of amenities,” says Ben Kochalski, regional partner with TMG Partners. “We will …
LOS ANGELES — Berkshire Residential Investments has completed the sale of One Santa Fe, a mixed-use, core-plus apartment community situated in Los Angeles’ Arts District. A Canada-based institutional investor acquired the property for an undisclosed price. Completed in 2015, One Santa Fe features 438 units in a mix of studio, one- and two-bedroom layouts and The Yards at One Santa Fe, an 81,000-square-foot retail component. Community amenities include a zero-edge swimming pool, custom cabanas, an outdoor dining area with grills, entertainment kitchen, resident lounge, billiards, CYBEX fitness center, private yoga and Pilates studio, outdoor theater, fireside retreat, electric car charging stations and concierge service. The asset is the final tranche of a 13-property multifamily portfolio that JLL marketed on Berkshire’s behalf. The sale of the other 12 properties, which totaled 3,904 units across six U.S. markets, was announced in July 2019. Blake Rogers, Matthew Lawton and Sean Deasy of JLL Capital Markets represented the seller in the deal.
HAYWARD, CALIF. — Faris Lee Investments has brokered the sale of a retail property located at 2401 Whipple Road in Hayward. A private investor acquired the asset from an undisclosed seller for $16 million. LA Fitness (City Sports Club) occupies the 41,000-square-foot facility on a corporate-guaranteed, absolute triple-net lease. Matt Brooks, Joe Chichester and Nicholas Coo of Faris Lee represented the seller and procured the buyer in the transaction.
RANCHO CUCAMONGA, CALIF. — Fit Development has completed the sale of Shops at Victoria Gardens, a retail strip center adjacent to the Victoria Gardens lifestyle center in Rancho Cucamonga. An undisclosed buyer acquired the property for $13.7 million. Constructed in 2007, the 31,405-square-foot property is leased to a diverse mix of service-oriented, daily needs and soft-goods tenants, including DXL Men’s Apparel, Pacific Dental and Shakey’s Pizza. The asset is situated on 2.6 acres at 12455 Victoria Gardens Lane. Daniel Tyner and Gleb Lvovich of JLL Retail Capital Markets represented the seller in the deal.
GLENDALE, ARIZ. — ORION Investment Real Estate has brokered the sale of Brittany Square, a retail center located at the corner of 67th and Peoria avenues in Glendale. An undisclosed seller sold the asset for $6.3 million, or $129 per square foot. Situated on 5.2 acres, Brittany Square features 49,004 square feet of retail space and on-site parking. At the time of sale, the property was 69 percent occupied by a variety of tenants, including Walmart Neighborhood Market, Starbucks Coffee, Chase Bank, Goodwill, O’Reilly Auto Parts and Circle K. The undisclosed buyer purchased the property as a long-term leased investment and plans to occupy a portion of the property for its medical-related business. Nick Miner of ORION represented the seller, while Tom Kolb of KW Commercial represented the buyer in the transaction.
FRESNO, CALIF. — Marcus & Millichap has arranged the sale of A-American Self Storage in Fresno. A limited liability company acquired the asset for an undisclosed price. Situated on 4.8 acres at 2455 N. Marks Ave., the facility features 717 non-climate-controlled units, totaling 77,053 net rentable square feet. Brett Hatcher, Gabriel Coe and Jacob Becher of Marcus & Milichap represented the seller and buyer in the deal. Jim Markel, also of Marcus & Millichap, assisted in the transaction and was broker of record for the deal.
BEVERLY HILLS, CALIF. — Thorofare Capital has provided a $23.8 million loan for the acquisition of a mixed-use portfolio in Beverly Hills. Marc Schillinger and Eric Boucher of JLL advised the undisclosed borrower in the financing transaction. The acquisition includes two properties. The first is 415 North Camden Drive, a 17,936-square-foot building offering retail, medical and office space in the Beverly Hills Golden Triangle district. The second is a 10,884-square-foot medical office building located at 152-160 S. Lasky Drive.
COLORADO SPRINGS, COLO. — Newport Beach, Calif.-based PLC Apartments has acquired The Centre Apartments, located at 1921 E. Van Buren St. in Colorado Springs. Locally based Skyline Real Estate Investments sold the community for $21.9 million. Built in 1952, The Centre Apartments features 168 units in a low-density, park-like setting. Community amenities include a clubhouse and fitness center. The buyer plans to continue ongoing interior unit renovations. Bill Morkes and Craig Stack of Colliers International represented the seller in the deal.
SOUTH SALT LAKE CITY, UTAH — PMJ Cos. has completed the sale of Interpointe Shopping Center located at 200 W. 2100 South in South Salt Lake City. DBA Midtown National Group acquired the retail center for an undisclosed price. Situated on seven acres, Interpointe Shopping Center features 100,000 square feet of leaseable space. Current tenants include Best Buy and Office Depot. Chris Monson of Mountain West Commercial Real Estate represented the seller, while Lance Pendleton, also of Mountain West, represented the buyer in both transactions. Alongside the sale of Interpointe Shopping Center, Mountain West was able to broker the sale of a 3,399-square-foot retail pad located on the same property. Carl’s Jr occupied the property at the time of sale.
