Loma Linda Pediatric

ORANGE COUNTY

SANTA ANA, CA-Grubb & Ellis Healthcare REIT II has acquired a Denver medical office building and an Inland Empire pediatric hospital in today's roundup of sales, leases and other transactions in the West. The non-traded REIT's two new assets are the 60,000-square-foot multi-tenant St. Anthony North Medical Office Building in the Denver suburb of Westminster and the 34,000-square-foot Loma Linda Pediatric Specialty Hospital in the Inland Empire city of Loma Linda. The REIT paid $11.95 million for a ground leasehold interest in the St. Anthony property, which it bought from SAN MOB I LLC. The three-story St. Anthony North Medical Office Building was built in 2008 on the campus of the 138-bed St. Anthony North Hospital at 8501 Bryant St. and is 88.5% leased to multiple tenants. The REIT bought the Loma Linda property from D&J Holdings LLC for $13 million. The hospital, less than three miles from 900-bed Loma Linda University Medical Center, consists of a multi-building portfolio that includes three operational facilities.

First Community Bank has sold 24 medical office suites at Odyssey Medical Center at 22 Odyssey in Irvine to 19 private owner/users. The suites were sold out of foreclosure for an aggregate sale price of $9.3 million for the 37,603 square feet of space. The bank was represented by associate vice presideent Dave Kluver, SVP Greg Puccinelli and senior associate Nick Carey of Grubb & Ellis Co. Odyssey Medical Center is a two-story class A medical office building consisting of 32 medical condominiums ranging from 914 to 2,477 square feet. Puccinelli, Kluver and Carey have held the listing of Odyssey Medical Center since its completion and delivery in late 2008 and have now sold all units of the property.

INLAND EMPIRE

Murrieta Site

PDM Partners LP of Los Angeles has acquired a 53-acre site designated for Plaza de Murrieta, a planned residential and commercial project in the City of Murrieta, according to the Land Advisors Organization, which represented the L.A.-based buyer in the land acquisition. Plaza de Murrieta is slated for a site along the I-15 corridor, west of Interstate 15 at the Kalmia/California Oaks off-ramp on the north corner of Jefferson Avenue and Lemon Street. Jeff Spindler, Brian Carricaburu and Mitch Casillas of Land Advisors, who represented PDM, note that the approved specific plan for the site includes single-family detached, townhome, commercial and open space. PDM acquired the property from an Arizona-based seller for an undisclosed price. The land was formerly owned by PCG-Village Walk LP, the developer who entitled the specific plan. The approved plan includes conceptual entitlements for 37.85 acres of residential with 322 residential units, 7.66 acres of neighborhood commercial with 80,000 square feet of space, four acres of open space and 2.71 acres for circulation. The lender on the project was originally First National Bank of Nevada, which was seized by the FDIC.

Interlog USA Inc. and its wholly owned subsidiary, American West Worldwide Express Inc., have signed a five-year lease for a 285,600-square-foot warehouse/distribution building at 5725 E. Jurupa St. The tenant was represented by SVP Mark Kegans and VP Gerald Kim of the Grubb & Ellis Co. Global Logistics practice group. The logistics company, which specializes in full-service international and domestic shipping services for manufacturers and receivers, will take occupancy of the building in May. Interlog and American West will be relocating and expanding the space for its West Coast distribution, warehouse and LTL operations from the current location in Compton.

The American Bottling Co., a subsidiary of Dr. Pepper Snapple Group, has leased an 81,373 square-foot industrial building at 1188 Mt. Vernon Ave. in Riverside that is owned by MMI/BDI Mt. Vernon LLC, a joint venture between Birtcher Development & Investments of Irvine, CA and Cornerstone Real Estate Advisers LLC. Walt Chenoweth, Patrick Wood, Frank Geraci and Juan Gutierrez of the Inland Empire office of Voit Real Estate Services represented the building owner in the 10-year lease. In addition, the Chenoweth-Wood-Geraci-Gutierrez team partnered with Seth Kelly and Nathan Lawrence of CB Richard Ellis in Dallas to represent the American Bottling Co.

LOS ANGELES

Told Corp. bought a 65,240-square-foot industrial building in at 809 Call Plano in Camarillo from a receivership estate in an all-cash transaction that closed in 45 days. Newport Beach, CA-based MHF Real Estate Group provided receivership, property management and brokerage services for the transaction, financial terms of which were not disclosed. MHF President Ian Hafner was nominated by KeyBank Real Estate Capital to serve as court-appointed receiver. MHF managed all aspects of the asset including capital improvements, assisted with facilitating a lease extension, marketing and sale of the asset. The buyer was represented by Paul Farry of CB Richard Ellis.

Hope Street Family Center Groundbreaking

Abode Communities and its client, California Hospital Medical Center, broke ground on a 26,500-square-foot, $15.7-million project called Hope Street Family Center that will offer social services, recreational and educational programs to the children and families in Downtown, Pico Union and South Los Angeles. Abode and the medical center chose the site because it is in "an area that chronically reports low education levels, low incomes, high domestic violence and high unemployment," according to their announcement regarding the project. Robin Hughes, president of Abode Communities, comments: "Building a better life begins with having a safe, stable and affordable place to learn, play and live."

Tennesse-based third-party logistics company OHL has leased a 148,725-square-foot industrial property on 7.81 acres at 2116 E. 220th St. from Watson Land Co. in what Watson marketing and leasing VP Lance Ryan describes as "a direct result of global logistics firms increasing their capacity to remain in step with heavy port traffic and growing retail demand.” This is OHL’s second lease within Watsom Corporate Center, expanding its presence to 326,125 square feet. “The sustained growth of inbound container volume at the ports of Los Angeles and Long Beach has led us to expand our presence in the South Bay,” said Bob Spieth, president of OHL Contract Logistics. Doug McDowell with Pro Venture and Lewis Latimer with L2 Companies represented OHL. Watson Land Co. was represented in-house by Lance Ryan and Mike Bodlovich.

Law firm DLA Piper has signed a lease to move into 65,236 square feet at 2000 Avenue of the Stars this summer. The law firm was represented by Transwestern executive managing director Jonathan Larsen, along with Mark Robbins. Representing the landlord from CB Richard Ellis Brokerage Services were senior managing director Bradley T. Cox, SVPs Patti Gilbert and Jeff Lasky, and associate Amanda Calof.

Tenants at Continental Development Corp.'s Continental Park have signed leases totaling approximately 30,000 square feet with a combined value of approximately $7 million. The largest of the recent commitments in terms of square footage occurred at the Plaza at Continental Park, 2151 Rosecrans Ave., where Net App leased 8,200 square feet for five years in a transaction valued at $1.4 million. Net App was represented by Ron Burkhardt from Newmark Knight Frank. In addition, Petrocina USA leased 1,725 square feet for a short term and Sterling Savings Bank, represented by Bill Bloodgood of CB Richard Ellis, leased 2,120 square feet in a deal valued at $1.37 million. In The Atrium at Continental Park at 2321 Rosecrans Ave., Wells Fargo Advisors committed to 6,700 square feet for seven years in a lease valued at $1.65 million and Crowell Weedon leased 3,500 square feet for five years in a transaction valued at $600,000. Wells Fargo Advisors was represented by Matthew Miller from CresaPartners while Crowell Weedon negotiated its lease directly with Continental. Sola Salon Studios leased 6,220 square feet 2041 at Rosecrans Ave. for 10 years in a $1.9 million transaction; State Wide LLC leased 1,200 square feet for a short term at 840 Apollo St. and was represented by Mike Harry of CB Richard Ellis. Sola Salon was represented by Dave Binney from Cypress Retail Group.

A private investment group has acquired a 17-unit bank-owned mixed-use property at 17351 W. Sunset Blvd. from 17351 W. Sunset Blvd. Inc. for $8.4 million. In 2006 Sunset Pacifica was purchase by a private investment group for $17 million and was in the process of being converted to high-end luxury condominiums. Clark Everitt and William Everitt, Vice Presidents at IREA, represented the buyer, Jake Mathews and 9 Mile Investments. The seller, 17351 W. Sunset Blvd. Inc, was represented Jones Lang LaSalle.

SAN DIEGO

Brokerage and consulting firm Intercare Insurance Solutions has signed an 84-month lease valued at $4.8 million at Sorrento Towers, a class A property at 5375 Mira Sorrento Place in Sorrento Mesa that totals 21,144 square feet and is owned by Trizec Sorrento Towers LLC. Intercar which expects to occupy the new space in May, was represented by Dave Odmark of Cassidy Turley BRE Commercial. The building ownership was represented by Eric Northbrook, Chris High and Jeff Oesterblad of Cushman & Wakefield.