PASADENA, TEXAS — Marcus & Millichap has arranged the sale of Morningstar of Pasadena, an 88,011-squrae-foot self-storage facility located in Pasadena. Chico LeClaire and Dave Knobler of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Knobler and LeClaire also secured and represented the buyer, a limited liability company. Morningstar of Pasadena is located at 6321 Spencer Highway in Pasadena.
LOUISVILLE, KY. — Commercial Kentucky Inc., a member of the Cushman & Wakefield Alliance, has brokered the $14.3 million sale of the historic Starks Building in downtown Louisville’s central business district. The 14-story, 395,505-square-foot office tower was originally constructed in 1913. Delray Beach, Fla.-based Hudson Holdings purchased the office tower from the Hertz Organization and plans to reposition the building into a mixed-use property featuring 100 apartments units and a 200-room upscale hotel. The property will also feature a coffee shop and full-service health club. Craig Collins and Sam English of Commercial Kentucky represented the Hertz Organization in the sale.
SANTA MONICA, CALIF. – Lincoln Owner LLC has acquired a 23,557-square-foot office building in the Silicon Beach region of Santa Monica for $23.6 million. The building is located at 1315 Lincoln Blvd., just blocks from the Third Street Promenade and Santa Monica Place. The property was built in 2005. It was fully occupied at the time of sale. The seller, a partnership between Lincoln Property Company, Linwood Ventures and ASB Real Estate Investments, was represented by Bob Safai, Matt Case and Brad Schlaak of Madison Partners.
TORRANCE, CALIF. – Village Center, a 31,153-square-foot retail center in Torrance, has sold to a local private investor for $11 million. The center is located at 4170 Pacific Coast Highway. It is adjacent to a Walgreens-anchored shopping center. The unnamed seller was represented by Simon Mattox of Marcus & Millichap’s National Retail Group.
BERKELEY, CALIF. – A 47,281-square-foot, mixed-use building in Berkeley has sold to an unnamed buyer for an undisclosed sum. The building is located at 2190 Shattuck Ave. It is anchored by a ground-floor Walgreens with creative offices on the second story that are occupied by technology-oriented tenants. The property is situated directly atop the Downtown Berkeley BART station. It is within one block of the University of California at Berkeley. The space was built in 1956 through 1957. It was renovated in 2012. The seller, a partnership between Sansome Pacific Properties and Somera Capital Management, was represented by HFF’s Nicholas Bicardo, Danny Reddin, Steve Golubchik and Brandon Rogoff.
GARDEN GROVE, CALIF. – A 30,000-square-foot retail building in Garden Grove that was formerly occupied by Office Depot has sold to Red Mountain Retail Group for $4.6 million. The building is located at 11100 Garden Grove Blvd. It was built in 1996. The building sits adjacent to Costco, across from Home Depot. Two new tenants have leased the space. Office Depot, meanwhile, downsized to a 15,800-square-foot space. Keith Kropfl and Michael Ganz of Avison Young represented both the buyer and seller, Gallinas Properties, in this transaction.
CHARLOTTE, N.C. — Multi Housing Advisors (MHA) has brokered five separate sales of apartment communities in South Carolina totaling $52.6 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions. The transactions include: • Greystone & Co. sold the 152-unit The Reserve at Cavalier and the 130-unit Hampton Forest, both located in Greenville, to two separate funds controlled by Monument Capital Management. • Applegate & Co. sold the 312-unit Polo Village, located in Columbia, to an affiliate of EBSCO Income Properties LLC. • LNR Partners sold the 176-unit Pocalla Springs, located in Sumter, to an undisclosed buyer. • Southwood Realty sold the 132-unit Heather Heights, located in Rock Hill, to Varden Capital Properties.
PHOENIX — HSL 44 Monroe LLC has acquired a controlling interest in 44 Monroe, a 198-unit multifamily tower in Downtown Phoenix, for $50.6 million. The luxury tower is located at its namesake, 44 Monroe, on the northeast corner of 1st Avenue and East Monroe Street in the Financial District. The property is Arizona’s tallest luxury residential tower. It includes one- and two-bedroom units, as well as three-bedroom, two-bath penthouse apartment homes. Units feature floor-to-ceiling windows, private balconies and dual master vanities, among other amenities. Common-area amenities include an outdoor terrace with gas grill and fire pit, a spa and swimming pool with sundeck, conference room, fitness center, clubhouse with Wi-Fi and a 24-hour lobby attendant. HSL will continue to operate the property as a luxury apartment home building. HSL Properties now owns 42 apartment communities and five hotel properties in Arizona with its affiliates.
SAN DIEGO — The Viejas Band of Kumeyaay Indians has commenced construction on a second hotel tower for the Viejas Casino in Alpine. The casino is located at 5000 Willows Road, just northeast of San Diego. The four-star resort project features a new five-story, 109-room hotel tower that will include a top-floor technology suite. The project will also include additional space on the gaming floor, a specialty bar, ballroom, meeting and board rooms, resort-style pool and extensive multi-use grounds. The new tower is slated for completion in November. It is being built by Xpera CM. The locally based construction management consulting firm has worked on other resort and gaming projects throughout the West, including the Arizona Biltmore Hotel, Stowe Mountain Lodge, Trump National in Los Angeles and Sycuan Resort and Casino.
DENVER — Japanese fashion retailer Uniqlo has announced plans to open its first Colorado outpost at Denver Pavilions. The 22,000-square-foot space will open in summer 2016. The retail center is located along the 16th Street Mall in the Downtown region. Colorado’s first Henry’s Tavern also recently opened at Denver Pavilions. Other activity at the center includes a major remodel at the 15-screen United Artists Theatre; the addition of Long Tall Sally; and the expansion of the H&M flagship to include a third level that features its new home accessories department and apparel designers. This H&M had also been the first one to open in Colorado in 2011. Uniqlo operates about 1,500 stores worldwide, including 39 stores along both coasts in Western outposts like San Francisco and Los Angeles. The retailer also announced plans to open its first Washington State store at the Bellevue Collection in Seattle. The Denver store will only be the second U.S.-based location that is not along a coast. Uniqlo also plans to open a store in Chicago along Michigan Avenue this fall. Uniqlo sells casual apparel for men, women and children. Its newest store at Denver Pavilions will be the only outpost in the state for …
