SEATTLE—Hines has sold the SeattleDesign Center, which includes a design center andoffice campus totaling 406,459 square feet, toCalifornia-based investment group GreenbridgeInvestment for $25 million. The center, which consists oftwo buildings—the Atrium and the Plaza—connected via a sky bridge,spans two city blocks in the Georgetown/SoDo submarket 4 milessouth of the Seattle CBD. Bob Safai andBrad Schlaak of Madison Partnersrepresented Hines in the transaction.

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PORTLAND, OR—A joint venture of Philadelphia-basedLubert-Adler Partners and Seattle-basedSecurity Properties Inc. has sold HoneymanHardware Lofts, a 100-unit apartmentcommunity with 10,800 square feet of street-levelretail space in the Pearl District downtown hereto DiNapoli Capital Partners purchased thehistoric property for $37.1 million. The sale was brokered by thePortland HFF team led by IraVirden.

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EVERETT, WA—Grosvenor Americas has soldBluWater, a 152-unit luxury lakesideapartment community here, to Coast EquityPartners for $25.5 million. KidderMathews represented Grosvenor in the transaction. Theproperty was extensively renovated and upgraded by Grosvenor afterthe company acquired it in 2007.

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ANAHEIM, CA—An offshore-based investor has sold theAnaheim Plaza Hotel, one of the last remainingstrategically located land parcels in the AnaheimResort to a Hong Kong-based real estate company with localties to the Southern California market for an undisclosed price.The 300-room hotel, located on 8.5 acres at 1700 S. HarborBlvd. here, sits across the street fromDisneyland's main entrance at the southeast cornerof Harbor Boulevard and Disney Way. Bob Kaplan andRod Apodaca of CBRE Hotels inNewport Beach, CA, acted as exclusive advisors to the buyer.

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FONTANA, CA—Terreno Realty Corp. has acquiredan industrial property at 14605 MillerAve. here for $22.9 million from an undisclosed seller.The property consists of one cross-dock industrial distributionbuilding containing approximately 265,500 square feet on 13.1 acresapproximately 6 miles from the intersection of interstates 10 and15 in the western Inland Empire. The property provides 70 dock-highand four grade-level loading positions, 30-ft. clear height,parking for 188 cars and is 100% leased to one tenant. Theestimated stabilized cap rate of the property is 5.4%.

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ORANGE, CA—Westcore Properties has acquired aclass-A office building and 6-acre site at 999 W. Town andCountry Rd. here for $25.3 million from KilroyRealty. The four-story building is 100% occupied byAECOM, a global provider of architecture, design,engineering and construction services, with a lease signed throughmid-2018. Additionally, the site offers futuremixed-use development opportunities. BakerMorphy of Jones Lang LaSalle's Irvineoffice and Bob Prendergast of Jones Lang LaSalle'sSan Diego office jointly represented Kilroy Realty in thetransaction.

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IRVINE, CA—Faris Lee Investments hascompleted two single-tenant, NNN-leasedretail sales transactions on behalf of itsclients. The first was a $5-million sale of an 8,118-square-footproperty fully occupied by Citibank at2700 Harbor Blvd. in Costa Mesa, CA. ShaunRiley, senior managing director with Faris Lee,represented the 1031 exchange buyer, a Pasadena,CA-based family trust who paid all-cash for the asset. The seller,CP Sunshine LLC from Lafayette, CA, wasrepresented by Equity Investment Advisors. Thesecond transaction was the $6.1-million sale-leaseback of a16,600-square-foot property fully occupied by KiddieAcademy at 16655 Noyes Ave. in Irvine,CA. Matthew Mousavi, Patrick Luther andThomas Chichester of Faris Lee represented theseller and operator of Kiddie Academy, JS&ALLC. The buyer, Los Angeles-based EverwinInvestments Inc., was represented by TreelineRealty. The closing cap rate was 6.5 % and the price persquare foot was just over $367.

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RANCHO BERNARDO, CA—Palo Alto-based Menlo EquitiesAssociates LLC has purchased One TechnologyPlace, a 10-building, 152,730-square-foot office complexon 11.76 acres at 10905-10949 Technology Pl. here,from Parallel Capital Partners for$22 million. The complex is currently 75% leased, with anchortenants including SDG&E and SystechCorp. Parallel Capital was represented in the negotiationsby Eastdil Secured.

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IRVINE, CA—Dr. Boyd's PetResort has leased a 25,328-square-foot 405 Freeway-frontedbuilding at 8645 Research Dr. here fromThree Crowns Properties LLC. Cushman &Wakefield's Don Yahn, Brett Swartzbaughand Brian Booth represented the landlord in thetransaction, while the tenant was represented by EricWarfield of South Bay CRE. The 24-hourpet boarding and veterinary care center is set to open thismonth.

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DEVELOPMENT

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VICTORVILLE, CA—The City of Victorville it hasapproved the entitlement for Stirling CapitalInvestment to begin development of a newindustrial building on 22 acres at theSouthern California Logistics Airport here. Thebuilding will comprise approximately 450,000 square feet, withpotential uses for warehousing, distribution,assembly and manufacturing. Regarding the planneddevelopment, Keith Metzler, assistant city managerof Victorville, tells GlobeSt.com, “The uniqueness is that inaddition to its location, it will be able to connect to a municipalutility system that is becoming recognized as truly cost effectivefor manufacturing-type operations. The Victorville municipalutility system includes City electrical services, natural gas,industrial wastewater and reclaimed water services, to name a few.Companies currently enjoying the use of these services includeDr. Pepper Snapple, Platipak Packaging andUnited Furniture Industries.

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LEASES

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CAMARILLO, CA—Fitness 19 has signed a 10-yearlease for 19,732 square feet in the74,072-square-foot Camarillo Plaza shopping centerat 1775 Daily Dr. here with DP GrandCamarillo Center LLC. CBRE first VPLarry Tanji, senior associate ScottSiegel and sales assistant Lisa Engelrepresented the landlord; the tenant was represented byRainier Commercial based out of Washington.

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PORTLAND, OR—KBS Real Estate Investment TrustII has signed a 16,554-square-foot lease with molecularsimulation software developer Schrödinger, Inc. atOne Main Place, a 20-story, class-Aoffice building at 101 SW MainSt. in the CBD here. Kevin Kaufman andCharles Safley of CBRE represented KBS REIT II onthe lease.

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CHULA VISTA, CA—Shea Properties has added fournew tenants the Marketplace at Windingwalk here.The 104,206-square-foot retail center will addDenny's, Sally Beauty, Millenia Dental andMassage Eden to its directory in early 2015.

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FINANCING

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COSTA MESA, CA—Thompson National Properties LLChas completed the restructure ofdebt held by more than 700 accredited investorsand its primary bank. The note holders exchanged their debt forboth preferred and common securities in TNP.

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DALY CITY, CA—CBRE Capital Markets' Debt &Structured Finance team has secured $16.7 millionin non-recourse financing for two separate properties here: amedical office located at 901 CampusDr. and a retail center at 2201 Junipero SerraBlvd. Michael Walker and JimKorinek of CBRE's San Francisco office arranged thefinancing on behalf of the borrowers. CBRE secured flexible,floating-rate financing for 901 Campus Drive from a national bank,while 2201 Junipero Serra Blvd. was financed by a Wall Streetlender that will securitize the loan. In both instances, the loanproceeds were used to facilitate the acquisition of the propertiesfor two separate buyers.

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EXECUTIVE APPOINTMENTS

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PORTLAND, OR—CBRE has hired Kristin Hammond toits Portland office brokerage team. She was formerly a SVP withJones Lang LaSalle's Portland office. Over thelast 10 years, Hammond has firmly established herself in theGreater Portland and Southwest Washington commercial real estatemarkets and has been particularly active in the local region'sentrepreneurial and startup community.

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SAN DIEGO—Stath Karras, executive managingdirector, San Diego Area, for Cushman &Wakefield, will be the new executive director of theBurnham-Moores Center for Real Estate, effectiveJanuary 19, 2015. Karras succeeds Mark Riedy, PhD,founder of USD's real estate program in 1993, who is retiring onJanuary 15, 2015. Karras has been an active member of theBurnham-Moores Center's Policy Advisory Board Executive Committeesince 2003.

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PROPERTY MANAGEMENT

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NEWPORT BEACH, CA—Davis Partners, a locallybased commercial real estate firm, has expandedits management services to the Bay Area. The firm has taken over a2.3-million-square-foot portfolio management assignment thatencompasses 22 assets located from San Jose to San Franciscoincluding a product type mix of office, R&D,and industrial property. All told, the firm now operates fiveoffices in Northern California with nine employees.

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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.