WESTMINSTER, CA-This city’s redevelopment agency has acquired a 102,000-square-foot industrial building here from Cornerstone Real Estate Funds in this week’s roundup of commercial real estate news in the West. The redevelopment agency bought the property, which is at 15172 Goldenwest Circle, for $9.4 million in a transaction that was brokered by Grubb & Ellis Co. SVP Scott Read and EVP Jeff Read, who represented Cornerstone. Built in 1976, the building is situated on 2.5 acres of land and features heavy distributed power, six ground level doors, two dock-high doors and an 18-foot clear height. The Westminster Redevelopment Agency represented itself in the transaction.

1290 Miller St.

Sares-Regis Group sold the last of three LEED Gold industrial buildings the company developed last year in Anaheim to a local manufacturer of precision aerospace products seeking a larger facility. California Manufacturing Inc. bought the new 31,744-square-foot building at 1290 Miller St. for $4.3 million, closing out the project, said Larry Lukanish, SVP in SRG’s Commercial Investment Division in Irvine. Sares-Regis was represented by Brad Bierbaum in the Anaheim office of CB Richard Ellis; California Manufacturing was represented by David Williams at Lee & Associates’ Anaheim office.

SAN DIEGO COUNTY

Cornerstone Real Estate Advisers LLC bought the 111,403-square-foot Bressi Ranch Village Center in Carlsbad on behalf of one of its institutional clients in a sale brokered by HFF on behalf of seller LNR Property LLC. The sale price wasn’t disclosed, but HFF senior managing director Ryan Gallagher says it closed at one of the highest prices per square foot ever recorded for a grocery-anchored center in the county. A source not involved in the deal pegged the price at $58 million. Bressi Ranch Village Center is 96% leased and is part of the 525-acre master planned Bressi Ranch development. The HFF team representing LNR was led by senior managing directors Gallagher and Tim Wright, along with associate director Ryan Hertel. Stewart Keith and Bill Thaxton of Flocke and Avoyer were the local market leasing representatives for the team.

Gateway Torrey Hills

Engineering and design consulting firm Atkins North America has signed a 94-month lease valued at $5.5 million at Gateway at Torrey Hills, in a class A office building at 3570 Carmel Mountain Rd. in Del Mar Heights. Building owner Prudential Real Estate Investors was represented by Cassidy Turley BRE Commercial’s Joe Anderson, Rick Reeder and Dave Odmark. The tenant was represented by Shawn Lorentzen of Jones Lang LaSalle.

Two entities of the Hamann Cos. bought Venture Commerce Center in Otay Mesa from Otay Mesa Owner LLC. The property is situated on 8.44 acres and consists of eight buildings totaling 123,719 square feet. The original development was divided into 38 individual office, industrial, warehouse and showroom units ranging from 1,477 to 18,831 square feet. The Hamann entities acquired, in bulk purchase, the 26 remaining units totaling 86,541 square feet. The buyers were represented by Regan Tully of Cassidy Turley BRE Commercial. The seller was represented by Kevin Shannon of CB Richard Ellis’ Los Angeles office, along with Louay Alsadek, Rich Kwasny and Shane Harmon of CBRE’s Downtown San Diego office. Price was undisclosed.

LOS ANGELES COUNTY

Tea and spice wholesaler 16205 Distribution Way LLC bought a 64,318-square-foot industrial building at 16205 Distribution Way in Cerritos from Bank of America for $4.3 million. The seller was represented by Cameron Driscoll, Luke McDaniel, Mitch Zehner and Seth Davenport of Voit Real Estate Services’ Anaheim office. The building sits on three acres of land and includes 11,234 square feet of office space and 11,000 square feet of R&D space. The buyer, represented by Grubb & Ellis, previously was headquartered in a 14,000-square-foot industrial building in Santa Fe Springs, but is expanding with this move and will fully occupy the building.

Lockton Insurance Brokers LLC signed a lease renewal for 71,981 square feet of office space at Ernst & Young Plaza, a 41-story, 915,316-square foot, class A office building at 725 S. Figueroa St. in Downtown Los Angeles. Lockton was represented by Jones Lang LaSalle's managing director Tony Morales, SVP Christina Noonan and senior associate Maureen Hawley. The property owner, EYP Realty LLC, was represented in-house by John Barganski.

The Hodgdon Group has completed a renovation of a former Wickes Furniture building scheduled to open today as a new Ashley Furniture HomeStore at 26520 Carl Boyer Dr. in the Centre Pointe Marketplace in Santa Clarita. Hodgdon Group Realty negotiated the purchase of the former 41,850-square-foot Wickes building for $3.7 million on behalf of Ashley Furniture. The seller, C-III Loan Asset Management, was represented by Matthew Sullivan, a managing director with Lee & Associates-Investment Services Group in Downtown Los Angeles. Hodgdon-Miank Construction served as the design-build contractor for the renovation. Mike Flynn of KTGY Group Inc. served as the project architect. Hodgdon-Miank Construction's Dan Wallner was the project manager; and Thom Duncan served as the superintendent.

Horticultural services company Tropical Creations has leased more than two acres of land at 22957 Sierra Highway in Santa Clarita from Gate-King LLC for an expansion, according to broker Ash Joshi, principal of Capital Realty Solutions Inc. of Encino. Joshi represented the horticultural services firm in the lease, terms of which were undisclosed. The landlord was represented by Dennis Verner of SCV Commercial in Santa Clarita.

COLORADO

Wood Partners LLC has opened the doors to the 280-unit Alta Aspen Grove, a new luxury apartment complex in the Denver suburb of Littleton. Tim McEntee, director of Colorado operations for Wood Partners, says the project debuted with 15 leases signed and more than 150 people on the interest list. The Alta Aspen Grove is the first new luxury apartment complex to open this year in the Denver metro area, according to a Wood Partners announcement regarding the new project. Alta Aspen Grove is situated on 17.5 acres at 7317 South Platte River Parkway. The gated, garden-style project of two- and three-story buildings features units of one to three bedrooms that range from 695 to 1,491 square feet.

UTAH