San Diego

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The San Diego office of Cushman & Wakefield revealed thattwo industrial leases valued at a combined total of $9.3 millionhave been signed on Trade Street in the Miramar area of San Diego.The American Bottling Co., a bottling manufacturing company, hassigned a 120-month lease for 73,259 square feet of industrial spaceat 7598 Trade St. The company, which is expected to move inOctober, will occupy the entire building. Mickey Morera and JamesDuncan of C&W represented the landlord, Diversified PropertiesLP. David Crabb and Seth Kelly of CB Richard Ellis represented theAmerican Bottling Co. In the other transaction, R.W. Smith &Co., a professional, commercial food service company, has signed an84-month lease for 68,298 square feet of industrial space at7594-7596 Trade St. R.W. Smith & Co. will move into its newspace in September. Mickey Morera and James Duncan of Cushman &Wakefield represented R.W. Smith & Co., as well as thelandlord, Diversified Properties LP.

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In another deal by the San Diego office of Cushman &Wakefield, the Harvey Lobelson Trust paid $10.1 million in a 1031Exchange for a recently constructed 75,000-square-footbuild-to-suit R&D building at 2065 Thibodo Rd. in Vista. Boththe buyer and the seller, LBA/Met Partners I-Company VIII, wererepresented by Tim Hoag of Cushman & Wakefield. The building is100% leased to BAE systems, a defense, security and aerospacecompany, which occupies the space for its Land and ArmamentsDivision. The buyer's 1031 Exchange involved the recently announcedsale of a 28,000-square-foot industrial building at 3738 Ruffin Rd.in the Kearny Mesa submarket of San Diego for $3.2 million. In thattransaction, the seller, Ruffin 4 Partners LLC, was represented byHoag. The buyer, Pete Aardema, was represented by Joshua Volen ofMarcus & Millichap.

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In the Sorrento Mesa submarket of San Diego, Advanced ParticleTherapy bought seven acres at Fenton Technology Park for $9 millionfor the Scripps Proton Therapy Center, a cancer treatment centerusing proton therapy, according to Cassidy Turley BRE Commercial.Fenton Technology Park is at the southwest corner of Camino SantaFe and Summer Ridge Road. Jeff Bordok, president of AdvancedParticle Therapy, says that the company expects to break ground inmid to late July and the project should take approximately 30months to complete. Both Advanced Particle and the seller, the H.G.Fenton Co., were represented by Duncan Dodd of Cassidy Turley.Casey Brown and Mike Colarusso of BCL Inc. are the local managingpartners for the $185-million construction project, along with theHaskell Co. of Jacksonville, FL and Signet Enterprises of Akron,OH.

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The San Diego/Tijuana District Council of the Urban LandInstitute has agreed to lead a series of public meetings to developa compelling vision for the San Diego bayfront, as well as to seekconsensus on the needed changes to the phase one North EmbarcaderoVisionary Plan.With funding and support from the Port of San Diego,ULI has enlisted the support of a broad range of civicorganizations including the American Institute of Architects, theDesign Coalition, the Downtown Partnership, and the DowntownResidents Association among others. “The downtown waterfront is ourmost precious real estate and it presents a unique opportunity tocreate a special place that is cherished by all San Diegans,” saysMary Lydon, ULI executive director. “We feel it is time to pull thecommunity together to search for common ground and a sharedvision.” David Malmuth, an arts and entertainment developer and25-year ULI member who is leading the effort, says that one goal ofthe process of public meetings would be to find resolution on theelements of the NEVP Phase 1 that need to be fixed, so the plan canmove forward in a timely manner.“The Port, Center City DevelopmentCorp. and the City of San Diego and dedicated members of the publicspent 12 years developing the Phase 1 plan that was presented tothe Coastal Commission this year,” says Port Commissioner ScottPeters, who serves as the Port’s alternate representative to theNEVP Joint Powers Authority. “While I firmly support that plan,it’s clear that we need better understanding, and broader publicsupport to move forward. This approach will help find solutions,and reach our overarching goal – a great waterfront.” The series ofthree public meetings will be held at the Embarcadero ConferenceCenter located at 585 Harbor Ln. adjacent to Seaport Village inDowntown San Diego. The team will also provide an interim report tothe Board of Port Commissioners at its July 6 meeting, to giveinput as the Board considers issuing an amended permit for Phase Iin time to be considered by the Coastal Commission this year.

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San Francisco

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Commercial mortgage lender American Real Estate Capital of CoralGables, FL, closes on a $21-million office building loan for therefinance of 633 Folsom St. in the South of Market neighborhood ofSan Francisco. The 171,000-square-foot seven-story building is 100%leased to California Pacific Medical Center. The property ismanaged by the Swig Co. American Real Estate Capital is acommercial mortgage lender on income property nationally.

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Las Vegas

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Hillwood has sold a portfolio of five primarily residentialproperties in the Las Vegas market to a joint venture betweenRidgewood Real Estate Partners and Angelo, Gordon & Co. Thissale represents more 1,800 residential lots and land that arealready zoned for 759 multifamily units, plus approximately 10acres for commercial use. Representing Hillwood in the sale wasColliers International. Approximately $70 million in infrastructureis already in place on this collection of properties, whichHillwood purchased as part of a larger portfolio in 2008. Nearly600 of the residential lots are finished and more than 900 lots arepartially completed. The remaining lots are zoned, entitled andready for lot construction. Properties in the sale include: BilbrayRanch in Laughlin, NV; Boulder Ranch in Las Vegas; Boulder RanchApartments in Las Vegas; The Canyons in Henderson, NV; and NorthRanch in North Las Vegas, NV.

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Portland

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Atlanta-headquartered Apartment Realty Advisors recently openedits Portland office, under the leadership of Gail Neuburg, formerco-owner and operator of Portland-based Tilbury, Ferguson &Neuburg Inc. The new office marks ARA’s 20th location and expandsits existing Northwest presence--ARA’s Seattle office was opened in2007—and solidifies ARA’s national market coverage that spans 40states from California to Massachusetts providing ARA’s clientswith coast-to-coast multihousing investment sales and financingmarket expertise, according to a prepared statement. According toNeuburg, “The ARA platform will substantially enhance our servicedelivery to our clients by allowing us to immediately leverage offof the relationships, knowledge and infrastructure of this powerfulteam of brokers.”

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.