LAGUNA HILLS, CA—Davenport Partners Inc. hasacquired Alicia Office Park at 25201,25231 & 25241 Paseo de Alicia here from aninstitutional owner and local operator for $10.5 million orapproximately $121 per square foot. The property includes threetwo-story, class-B office buildings totaling86,360 square feet that were a total of 61% leased at the time ofsale. The Newport Beach office of CBRE representedthe seller, while Davenport was not represented in the transaction.Davenport will handle the management and leasingof the property by establishing an onsite office and intends towork directly with local brokers to secure tenants for the vacantspace.
TACOMA, WA—Kennedy Wilson haspurchased Apex Apartments, a 203-unit, class-Aapartment community here, for $26.5 million from an unnamed seller.The buyer invested $14.2 million of equity in the transaction(inclusive of closing costs) and secured a seven-year $13.3-millionloan through Freddie Mac. The loan includesfull-term interest only and is priced at 173 bps over LIBOR. Builtin 2008, Apex is a luxury community set on one of the highestpoints in Tacoma, offering scenic views of the city and Mt.Rainier.
OXNARD, CA—An Orange County-based buyer has purchased a48,168-square-foot Best Buy store at 2300North Rose Ave. from an Orange County-based seller for$11.2 million or $233 per square foot. Mark Thiel,VP investments in Marcus & Millichap's SanDiego office, represented both parties in the transaction.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
