Brickman Buys Office-Multifamily Combo

SEATTLE—Brickman has purchased the Olympic Block Building in Pioneer Square from an affiliate of Lincoln Property Co. for $22.45 million. The property is a 70,796-square-foot mixed-use and creative tech building that includes ground-floor retail and tech oriented office space as well as 18 residential units. HFF managing director Nick Kucha and senior managing director Todd Tydlaska represented the seller.  

SALES

EUGENE, OR—Owner/occupier Avago Technologies has acquired the Eugene Tech Center in Eugene, OR, a 1.2 million square foot industrial campus on 201.4 acres of land, from Hynix Semiconductor America. The purchase price was not disclosed. Binswanger VP Chuck Pawlak and SVP Eric Dienstbach represented the buyer in the transaction.

MONROVIA, CA—A 53-unit multifamily property has traded hands between two private investors for $12.2 million. Located at 1219 S Alta Vista Ave. in Monrovia, the property was very popular among investors, receiving 10 offers. Warren Berzack and Stephen Geiger of Lee & Associates LA North/Ventura office represented both the buyer and the seller in the transaction.

NATIONAL CITY, CA—Southern Highland Partners has purchased the Southern Highlands Apartment Building from M&L Financial for $14.9 million. The property is a senior living facility with 151 units. Peter Valleau and Roberto Candel of Sperry Van Ness represented the buyers and David Cameron and Joe Ramos of South Coast Commercial represented the sellers.

LAS VEGAS—Grandway Asset Management has purchased a 45,000-square-foot shopping center in Las Vegas, NV, from Canyon Bay Development for $10.55 million. The property is anchored by a Smart and Final and has a 2,500-square-foot pad building with a Del Taco. It is 92% leased.

LEASES

CARLSBAD, CA—Sunscreen company Coola Suncare has signed a 63-month lease 43,500-square-foot lease for an industrial space at 3200 Lionshead in Carlsbad, CA. The lease is valued at $2.3 million. Rusty Williams and Chris Roth, principals of Lee & Associates – North San Diego County, represented the tenant in the transaction, while Bob Willingham and Ron King of Kidder Mathews represented the landlord, Ninos 1 Burkew Lane.

FINANCING

LOS ANGELES—The owners of Cal Oaks Plaza, a 176,170-square-foot retail center have secured $26 million to refinance the property. The fixed-rate loan fully amortizing 25-year term with minimal impounds. Located at 40930-41090 California Oaks Road in Murrieta, the property has an Albertson's, Reading Theatre, Chili's and Target.

HONOLULU, HI—TEG Hotels has secured a $30 million loan to refinance 581-room full service hotel portfolio in Honolulu. The loan has a 30-year, fixed-rate and a 30-year amortization, and was funded through a life insurance company. HFF's Bill Fishel secured the funds on behalf of the borrower.

DEVELOPMENT

SAN DIEGO, CA—Pacific Building Group has completed the $3.2 million renovation of the Bay Club Carmel Valley, an 87,000-square-foot space with eight outdoor tennis courts, three swimming pools, 15,000-square-foot fitness center and a sanctuary spa. The renovation added 77 Social Club, a bocce ball court, hardscape and landscape, including custom fire pits and conference facilities.