VISTA, CA-Avalon Bay Communities Inc. has purchased a 7.29-acre site at 455 and 465 South Melrose Dr. here for $12.5 million from Buie Investments 1 LLC. The buyer plans to construct a 22-unit apartment project on the currently vacant lot. Gunder Creager and David Santistevan of Colliers International’s San Diego office brokered the transaction.
RIVERSIDE, CA-San Diego-based Pathfinder Partners LLC and its operating partner, Stratford Partners, have acquired Tuscan Townhomes, a luxury, 63-unit, townhome project located at 11511 Magnolia Ave. in Riverside, CA, for $10.55 million. The partnership plans to implement a $240,000 program to upgrade townhome interiors, as well as improve common-area amenities. The gated community was completed in 2009 and is currently 100% occupied.
IMPERIAL BEACH, CA-Imperial Beach Promenade LLC has sold a 14,884-square-foot retail property on one acre of land occupied by CVS/pharmacy at 800 Palm here for nearly $7 million to Drooz Trust. Hamid Soroudi and Kimberly Roberts Stepp of Charles Dunn Co. represented the buyer, while the seller was represented by Sam Hanna of Marcus & Millichap.
ORANGE COUNTY, CA-Two industrial transactions encompassing 87,788 square feet have been completed in North Orange County. Mike Vernick and Mike Hefner of Voit Real Estate Services’ Anaheim office have completed the $5.9 million acquisition of a 77,788-square-foot property in Placentia, CA, representing the buyer, Classic Performance Products. The team also directed a $1.1 million sale of a 10,000-square-foot property at 1721 N. Lime Street in Orange, CA, on behalf of the seller, the Berg Family Trust. The buyer, Mark Templeton, was represented by Chuck Wilson and Blake Garrett of Colliers International.
GARDENA, CA-CC Fund II LLC has sold a 32-unit apartment complex located at 15004 Lemoli Ave. here to Robert A. Abbasi for $2,797,500. Doug Rodermund of Morgan Skenderian Investment Real Estate Group’s Newport Beach office represented the buyer and seller in this transaction.
WEST HILLS, CA-Parkhill School, a 16,204-square-foot special-education learning center located at 7401 Shoup Ave. here, has been sold to New School for Child Development for approximately $2.3 million. John DeGrinis, SVP; Patrick DuRoss, AVP; and Jeff Abraham, senior associate—all based in Colliers International’s Encino office—represented the seller, LeRoy Haynes Center. The buyer represented itself.
OXNARD, CA-The Hodgdon Group has completed construction on the conversion of the former Wickes Furniture building at Market Place Shopping Center here, for the opening of an Ashley Furniture HomeStore. Hodgdon Group handled all entitlements and served as the design-build contractor and completed the major renovation of the 50,040-square-foot freestanding store. This is the 14th such store to open that has been completed by the Hodgdon Group.
ONTARIO, CA-Two leases totalling 68,285 square feet have been signed at Cobalt Business Center, a 111,890-square-foot industrial complex located at 4051 Santa Ana St. and 710 Dupont Ave. here. Jones Lang LaSalle Los Angeles’ Ruben Goodsell, Jeff Bellitti and Mike McCrary, exclusive leasing agents for the property, signed Sempermed USA Inc. for 37,490 square feet at 710 S. Dupont and Googol Engine Tech Co. for 30,785 square feet at 4051 Santa Ana.
MONROVIA, CA-STAAR Surgical Co. has signed an eight-year lease on a 26,000-square-foot industrial building immediately adjacent to its current 44,000-square-foot facility here, which will allow connection of the two buildings via two direct hallways. In addition, the new building comes with an additional 57 parking spots.
SAN JOSE, CA- Zscaler has signed an agreement for a 28,000-square-foot office lease relocation and expansion at 110 Baytech Drive, Suite 100 here. The firm will occupy the first floor of the building located in the Legacy BayTech office park. Cresa San Jose recently represented the tenant in the transaction.
SAN FRANCISCO-Dennis Williams, SVP/managing director, of NorthMarq’s San Francisco regional office, has arranged first-mortgage refinancing of $32 million for the Piers, located on Piers 1