sale2

Mission Federal Credit Union Sells Former Headquarters in San Diego for $10.4M

by Amy Works June 18, 2019

SAN DIEGO — Mission Federal Credit Union has completed the disposition of its former headquarters in San Diego. Alvarez & Marsal Capital Real Estate, a creative office developer, acquired the asset for $10.4 million. Located at 5785 Oberlin Drive in San Diego’s Sorrento Mesa submarket, the 61,406-square-foot property features an entry lobby, open floor plans and an extensive glass line with hillside views. The buyer plans to convert the three-story building, which was built in 1985, into creative office space. Matt Pourcho, Anthony DeLorenzo, Gary Stache and Doug Mack of CBRE represented both parties in the transaction.

June 18, 2019

Acquisitions California Retail Western

Faris Lee Investments Arranges $6.9M Sale of Restoration Hardware Location in Irvine, California

by Amy Works June 18, 2019

IRVINE, CALIF. — Faris Lee Investments has arranged the sale of a retail property located in Irvine. A Los Angeles-based buyer acquired the asset from an Irvine-based seller for $6.9 million. Restoration Hardware, a publicly traded company with more than 5,200 employees, occupies the property. Rick Chichester, Tom Chichester and Joe Chichester of Faris Lee Investments represented the seller and buyer in the deal.

June 18, 2019

Acquisitions Hospitality Washington Western

Crystal Investment Property Brokers Sale of 42-Key Rodeway Inn in Washington

by Amy Works June 18, 2019

LONG BEACH, WASH. — Crystal Investment Property (CIP) has arranged the sale of Rodeway Inn & Suites, located at 115 Third St. SW in Long Beach. Terms of the transaction were not released. Situated 2.5 blocks from the beach, the hotel features 42 guestrooms, a seasonal pool, guest laundry, high-speed internet and a mix of kitchenette, fireplace and pet-friendly rooms. Additionally, the property features two owner’s quarters and an additional apartment. Joseph Kennedy of CIP handled the transaction on behalf of the undisclosed seller and undisclosed buyer.

June 18, 2019

Lincoln-Springs-Apts-Colorado-Springs-CO

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Negotiates $19.5M Sale of Lincoln Springs Apartments in Colorado Springs

by Amy Works June 17, 2019

COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Lincoln Springs Apartments, a multifamily property located in Colorado Springs. Monarch REI LLC acquired the property for $19.5 million. Located at 1770 S. Chelton Road, the value-add property features 180 apartment units. Mike Krebsback of Pinnacle Real Estate Advisors represented the buyer in the deal. The name of the seller was not released.

June 17, 2019

Acquisitions Industrial Self-Storage Western Wyoming

SkyView Advisors Brokers Sale of 99,700 SF Self-Storage Property in Cheyenne, Wyoming

by Amy Works June 17, 2019

CHEYENNE, WYO. — SkyView Advisors has negotiated the sale of Superior Storage of Cheyenne, a self-storage facility located in Cheyenne. Storage Star acquired the property for an undisclosed price. Situated on 6.4 acres at 4405 Van Buren Ave., Superior Storage of Cheyenne totals 99,700 rentable square feet and 493 total units. Zachary Urow and Ryan Clark of SkyView Advisors represented the undisclosed seller in the deal.

June 17, 2019

Acquisitions California Multifamily Western

LandStone Cos. Sells 114-Unit Multifamily Asset in California for $22.5M

by Amy Works June 17, 2019

BAKERSFIELD, CALIF. — Bakersfield-based LandStone Cos. has completed the sale of Mira Sol Gardens, an apartment community located in Bakersfield. A Newport Beach, Calif.-based private investment group acquired the property for $22.5 million, or $197,500 per unit. Built in 2016, the property features 114 apartments in a mix of two- and three-bedroom floorplans with modernized interiors, attached two-car garages and water-saving, drought-resistant landscaping. The asset is situated on 11.4 acres on Gasol Court, Jerno Drive and Callado Lane in the Far Southwest submarket of Bakersfield. Mark Bonas of The Mogharebi Group and Michael Jordan of Kidder Mathews represented the seller in the transaction.

June 17, 2019

Acquisitions Retail Washington Western

Marcus & Millichap Arranges $1.9M Sale of Starbucks Shopping Strip in Richland, Washington

by Amy Works June 17, 2019

RICHLAND, WASH. — Marcus & Millichap has brokered the sale of Starbucks Shopping Strip, a retail asset located in Richland. A developer sold the property to an undisclosed buyer for $1.9 million. Located at 698 Gage Blvd., the property features 7,038 square feet of retail space. Brendan Powell of Marcus & Millichap’s Portland, Ore., office, along with Joe Deis of Marcus & Millichap, represented the seller in the deal.

June 17, 2019

Acquisitions Arizona Multifamily Western

29th Street Capital Buys 168-Unit Las Casitas Apartments in Arizona

by Amy Works June 14, 2019

AVONDALE, ARIZ. — 29th Street Capital (29SC) has purchased Las Casitas Apartments, a multifamily community located in Avondale, for an undisclosed price. The name of the seller was not released. 29SC plans to invest more than $2.1 million in capital improvements at the 168-unit property. Planned interior upgrades include black appliances, improved lighting, USB ports, refaced cabinets, fresh paint and kitchen backsplashes, while exterior renovations include enhancing the dog park, clubhouse, pool area and other amenities. The buyer also plans to address deferred maintenance at the community. The acquisition is 29SC’s 13th in the Phoenix market, for a total of more than 2,500 units.

June 14, 2019

Acquisitions Arizona Multifamily Western

IPA Arranges $24M Sale of 164-Unit Apartment Complex in Tempe, Arizona

by Amy Works June 14, 2019

TEMPE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has completed the sale of MarQ at 1st, an apartment community located in Tempe. Knightvest Capital acquired the property from Western Wealth Capital for $24 million, or $146,341 per unit. Constructed in 1985, MarQ at 1st features 164 apartments and is situated less than a mile from Arizona State University’s main campus and Tempe’s Mill Avenue District, which offers a mix of more than 125 local eateries and boutique retailers. Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the deal.

June 14, 2019

Acquisitions California Office Western

Kilroy Realty Sells Westlake Plaza Centre Office Building in Southern California for $18.2M

by Amy Works June 14, 2019

WESTLAKE VILLAGE, CALIF. — Kilroy Realty Corp. has completed the disposition of Westlake Plaza Centre 2, an office building located at 2829 Townsgate Road in Westlake Village. Majestic Asset Management and The Johnston Group acquired the property for $18.2 million. Built in 1990 and situated on 1.2 acres, the three-building asset features 84,098 square feet of office space. Sean Fulp, Ryan Plummer and Mark Schuessler of Newmark Knight Frank represented the seller in the deal.

June 14, 2019

Newer Posts

Older Posts