Seattle Hard Rock Trades Hands

LOS ANGELES—KLM Equities has acquired the Hard Rock Café in Seattle for $20.8 million from Urban Visions. The property is near Pike's Place Market in Seattle, WA, and was free and clear of any debt. HFF senior managing directors Gerry Rohm and Nicholas Kucha, director Nick Kassab and associate director Danny Reddin.

SALES

SEATTLE—Transwestern has purchased the Redmond Technology Center in Seattle, WA, for $30.3 million from Menlo Equities. The 101,855-square-foot property is a class-A office building on 5.3 acres, and is LEED Gold certified. Kidder Matthews' Andy Miller, Joe Lynch, Bob Conrad and Dan Harden represented the seller in the transaction.

THOUSAND OAKS, CA—The Terrace, a 39,634-square-foot shopping center in Thousand Oaks, has traded hands between two private investors for $15.3 million. The sale price represents a cap rate of 6.59% and $385 per square foot. The property is 100% occupied. CBRE EVP Philip D. Voorhees, Jimmy Slusher, Megan Wood, Matt Burson, Todd Goodman, John Read and Preston Fetrow represented the seller in the transaction.

RENO, NV—Bendetti Corp. has acquired two industrial properties totaling 800,000 square feet in Nevada. The two acquisitions include Southern Way, a three-building portfolio totaling 631,115 square feet in Sparks, NV, and Spice Island, a 165,000-square-foot property also in Sparks. The purchase price was not disclosed.

COLORADO SPRINGS—Monmouth Real Estate Investment Corp. has acquired a 225,000-square-foot industrial building in Colorado Springs for $28.8 million. FedEx Ground Packaging System has leased the space for the next 10 years. The property sits on 27.4 acres and brings the firm's portfolio to 15 million square feet.

SEATTLE—Hong Kong-based Create World America has acquired a multifamily development site near Pike Place Market for $17 million from affiliate of Principal Real Estate Investors. The buyer plans to develop a high-rise residential tower on the property.

LEASES

LOS ANGELES—Three new tenants have signed leases with the Muller Co. at Del Amo Crossing, a mixed-use center in Torrance. The leases total 73,000 square feet and are valued at $29 million. The new tenants include 24 Hour Fitness; executive suite provider, Regus; and career consultation firm, Pasona.

BEVERLY HILLS—Image Entertainment has signed a 28,000-square-foot lease at 150 South El Camino Dr., a three-story class-A office building in Beverly Hills.  The lease term is seven years, and brings the building occupancy to 100%. Madison Partners leased the space after selling the property to Kennedy Wilson in 2013. At the time, the property was vacant.

FINANCING

PORTLAND—Resource Real Estate has secured $21.3 million in financing for the Montclair Terrace, a 188-unit apartment complex in Portland, OR. The securitized loan has a seven-year, floating-rate loan with Freddie Mac's CME Program. The REIT purchased the property last year in an all-cash transaction. HFF senior managing director Eric Tupler and associate director Erica Christensen secured the funds on behalf of the borrower.

DENVER—An affiliate of McWhinney has secured $25.9 million for the development of Rangeview V, a 120,000-square-foot, single-tenant office building in Loveland, Colorado. Vectra Bank funded the floating-rate loan, which has a two-year term and a 12-month extension option. The property is due for completion in June 2017. HFF secured the funding on behalf of the borrower.

EMPLOYMENT

LOS ANGELES—Tony Malk joins HFF as managing director of the firm's institutional hospitality group. Malk joins the firm from Eastdil Secured, where he was a director for 16 years. This hiring is part of the firm's efforts to grow its national multifamily platform.

SEATTLE—Nancy Jameson has joined Kidder Matthews as property manager in the firm's South Seattle office. In this new role, Jameson will manage 1.2 million square feet of industrial and office space. She brings nine years are experience to the firm.

SAN FRANCISCO—Allen Matkins has named Stephen N. Etheredge in its Los Angeles office, real estate attorney Julie K. Hoffman in its Century City office, and land use attorney Michelle Moore McDermott in the San Francisco office to partner. Managing partner David Osias says that this new round of partnerships “reflects the firm's focus on excellence, diversity and commitment to clients.”

LAS VEGAS—The PENTA Building Group has promoted Jennifer Leaders to human resources manager and Greg Sanders to project superintendent. Leaders joined the firm 10 years ago, while Sanders has been with the company for three years. Both will work in the firm's Las Vegas office.

DEVELOPMENT

EVERETT, WA—WoodSpring Hotels has partnered with West77 to bring the brand to Everett, WA. The first WoodSpring property in the market is under construction, and once complete will be a four-story, 122-room hotel. Amenities will include laundry facilities, modified kitchens, fitness center, high-speed internet. This is WoodSpring and West77's 25^th project together.

LOS ANGELES—KLM Equities has acquired the Hard Rock Café in Seattle for $20.8 million from Urban Visions. The property is near Pike's Place Market in Seattle, WA, and was free and clear of any debt. HFF senior managing directors Gerry Rohm and Nicholas Kucha, director Nick Kassab and associate director Danny Reddin.

SALES

SEATTLE—Transwestern has purchased the Redmond Technology Center in Seattle, WA, for $30.3 million from Menlo Equities. The 101,855-square-foot property is a class-A office building on 5.3 acres, and is LEED Gold certified. Kidder Matthews' Andy Miller, Joe Lynch, Bob Conrad and Dan Harden represented the seller in the transaction.

THOUSAND OAKS, CA—The Terrace, a 39,634-square-foot shopping center in Thousand Oaks, has traded hands between two private investors for $15.3 million. The sale price represents a cap rate of 6.59% and $385 per square foot. The property is 100% occupied. CBRE EVP Philip D. Voorhees, Jimmy Slusher, Megan Wood, Matt Burson, Todd Goodman, John Read and Preston Fetrow represented the seller in the transaction.

RENO, NV—Bendetti Corp. has acquired two industrial properties totaling 800,000 square feet in Nevada. The two acquisitions include Southern Way, a three-building portfolio totaling 631,115 square feet in Sparks, NV, and Spice Island, a 165,000-square-foot property also in Sparks. The purchase price was not disclosed.

COLORADO SPRINGS—Monmouth Real Estate Investment Corp. has acquired a 225,000-square-foot industrial building in Colorado Springs for $28.8 million. FedEx Ground Packaging System has leased the space for the next 10 years. The property sits on 27.4 acres and brings the firm's portfolio to 15 million square feet.

SEATTLE—Hong Kong-based Create World America has acquired a multifamily development site near Pike Place Market for $17 million from affiliate of Principal Real Estate Investors. The buyer plans to develop a high-rise residential tower on the property.

LEASES

LOS ANGELES—Three new tenants have signed leases with the Muller Co. at Del Amo Crossing, a mixed-use center in Torrance. The leases total 73,000 square feet and are valued at $29 million. The new tenants include 24 Hour Fitness; executive suite provider, Regus; and career consultation firm, Pasona.

BEVERLY HILLS—Image Entertainment has signed a 28,000-square-foot lease at 150 South El Camino Dr., a three-story class-A office building in Beverly Hills.  The lease term is seven years, and brings the building occupancy to 100%. Madison Partners leased the space after selling the property to Kennedy Wilson in 2013. At the time, the property was vacant.

FINANCING

PORTLAND—Resource Real Estate has secured $21.3 million in financing for the Montclair Terrace, a 188-unit apartment complex in Portland, OR. The securitized loan has a seven-year, floating-rate loan with Freddie Mac's CME Program. The REIT purchased the property last year in an all-cash transaction. HFF senior managing director Eric Tupler and associate director Erica Christensen secured the funds on behalf of the borrower.

DENVER—An affiliate of McWhinney has secured $25.9 million for the development of Rangeview V, a 120,000-square-foot, single-tenant office building in Loveland, Colorado. Vectra Bank funded the floating-rate loan, which has a two-year term and a 12-month extension option. The property is due for completion in June 2017. HFF secured the funding on behalf of the borrower.

EMPLOYMENT

LOS ANGELES—Tony Malk joins HFF as managing director of the firm's institutional hospitality group. Malk joins the firm from Eastdil Secured, where he was a director for 16 years. This hiring is part of the firm's efforts to grow its national multifamily platform.

SEATTLE—Nancy Jameson has joined Kidder Matthews as property manager in the firm's South Seattle office. In this new role, Jameson will manage 1.2 million square feet of industrial and office space. She brings nine years are experience to the firm.

SAN FRANCISCO—Allen Matkins has named Stephen N. Etheredge in its Los Angeles office, real estate attorney Julie K. Hoffman in its Century City office, and land use attorney Michelle Moore McDermott in the San Francisco office to partner. Managing partner David Osias says that this new round of partnerships “reflects the firm's focus on excellence, diversity and commitment to clients.”

LAS VEGAS—The PENTA Building Group has promoted Jennifer Leaders to human resources manager and Greg Sanders to project superintendent. Leaders joined the firm 10 years ago, while Sanders has been with the company for three years. Both will work in the firm's Las Vegas office.

DEVELOPMENT

EVERETT, WA—WoodSpring Hotels has partnered with West77 to bring the brand to Everett, WA. The first WoodSpring property in the market is under construction, and once complete will be a four-story, 122-room hotel. Amenities will include laundry facilities, modified kitchens, fitness center, high-speed internet. This is WoodSpring and West77's 25^th project together.