SEATTLE-Cell Therapeutics Inc. is moving its headquarters’ location to Martin Selig’s 3101 Western building here. CTI will occupy approximately 66,000 square feet of office space on floors six, seven, and eight of the 187,000-square-foot building. CBRE’s Tim O’Keefe and Jesse Ottele brokered the deal for CTI. Local developer and building owner Martin Selig Real Estate conducted the leasing on its own behalf. CTI plans to take occupancy of their new space this spring.

PETALUMA, CA-Cornish & Carey Commercial Newmark Knight Frank was selected to market Foundry Wharf Business Park for lease. The “North Bay’s Central Office Campus” is located on a stunning riverside setting in Downtown Petaluma, CA. An award-winning adaptive reuse transformed the former engine-works plant into a modern office space with collaborative open floor plans and high, exposed ceilings, similar to many of San Francisco’s South of Market creative spaces. As fast-growing high tech companies quickly consume SOMA’s creative spaces, tenants will find the option to migrate to this North Bay office space increasingly attractive. Cornish & Carey Commercial Newmark Knight Frank’s Haden Ongaro, Mark Carrington and Alisa Belew comprise the Foundry Wharf Business Park listing team. Foundry Wharf Business Park has been family owned and operated by Foundry Wharf LLC since 1987.

FINANCING

EVERETT, WA-The Dallas office of Berkadia Commercial Mortgage LLC recently originated an $11.4-million refinance loan through Freddie Mac’s Senior Housing Mortgage program for the Washington Oakes Retirement Community, located here. Heidi Brunet, vice president in Berkadia’s senior housing group, originated the loan, which was used to refinance the existing mortgage while providing additional capital for renovations. Washington Oakes, located at 1717 Rockefeller Ave., is an active retirement community located in the heart of Everett, just off the shores of Puget Sound. The 152-unit, three-story community is owned by Lytle Enterprises and operated by Leisure Care, which manages 38 communities throughout the United States and Canada. It was a 10-year, fixed-interest loan.

SANTA ROSA, CA-Cohen Financial has secured a $9-million refinancing for the Westwind Business Park Building Y here. The 67,000-plus-square-foot, multi-tenant office property is 93% leased and is located at 3725 Westwind Business Park near the Sonoma County Airport. Paul Schroeder, a managing director in Cohen Financial’s San Francisco office, secured the fixed-rate, long-term, non-recourse financing. The lender is Sun Life Financial. The borrower is a local commercial real estate developer. “Although in a secondary market location, Westwind Business Park Building Y is primarily leased to credit tenants, which proved attractive to the lender,” says Schroeder.

SALES

MISSION HILLS, CA-Shelley Magoffin and Perry Colligan of Q10 Dwyer-Curlett arranged $3.65 million in debt to finance the acquisition of the Blackhawk Building, a 34,310-square-foot office building located on the 405 Freeway as Devonshire Street. The buyer, a prominent West Los Angeles real estate investment company, acquired the property as a long-term investment. The financing, a 10-year fixed rate loan, was provided by an insurance company. The Blackhawk Building is an attractive three-story office with subterranean and surface parking. The building provides efficient, high quality multi-tenant office space for small to medium sized business and professional users. Its location on the freeway in the heart of the San Fernando Valley is ideal for easy access to and from the greater San Fernando Valley area. Magoffin and Colligan work out of Q10 Dwyer-Curlett’s Los Angeles Headquarters.

GARDENA, CA-Marcus & Millichap Real Estate Investment Services has received the exclusive listing for a 150,000-square foot retail building in Gardena that is 90% leased to Home Depot and 10% leased to Viatron Systems Inc. The listing price of just under $22.55 million represents $150 per square foot. Alan Krueger, senior vice president investments, and Kevin Boeve, vice president investments, both in Marcus & Millichap’s Ontario, CA office, are representing the seller, a California-based LLC. The 135,000-square-foot Home Depot is under a 30-year double-net corporate lease with eight years remaining and rare 10% rental increases. The property is located at the intersection of 182^nd Street and Interstate 110, the Harbor Freeway. The location is also just south of the intersection of the 110 freeway and California State Route 91 and is less than one mile north of the intersection of 110 and Interstate 405, the northern segment of the San Diego Freeway.

RIVERSIDE, CA-Faris Lee Investments has completed the $7.85-million sale of a 40,000-square-foot retail property occupied by Sports Authority in Moreno Valley. Built in 2009 and situated on 3.35 acres, the property is located at 12450 Day St. within the area’s main retail corridor at the intersection of the 60 and 215 freeways. Dennis Vaccaro and Donald MacLellan of Faris Lee Investments represented the seller, Gateway Co. LC from Newport Beach, CA. The all-cash buyer, Day Moreno Valley LLC, was an investor from China who was represented by a Michigan-based advisor. Escrow on the property closed in just 28 days. “The Moreno Valley retail market has been depressed and there were several big box store vacancies near the Sports Authority location, however, the market is in a slow recovery and the location is prime—within the area’s main retail corridor directly off two major freeways,” says Vaccaro.

SAN JOSE, CA-Lamar Apartments, a 48-unit, 103,237-square foot garden-style apartment community in Los Gatos, a suburb of San Jose, has changed hands. The sales price of $11.32 million translates to $235,990 per unit and $269 per square foot. Marcus & Millichap Real Estate Investment Services represented the seller as well as the buyer, a local private investor.

MOORPARK, CA-Grant Fulkerson, Scott Linklater and Mike Tingus, principals of Lee & Associates-LA North/Ventura Inc., have transacted more than 22,000 square feet of sales at Patriot Commerce Center in Moorpark, CA in two transactions. Patriot Commerce Center, a premier class A business park developed by Mark Ossola M.W. Ossola & Associates, includes 160,000 square feet of industrial, medical and professional office space in its first phase. The team executed the sale of 15,921 square feet at 883 Patriot Dr. to Market Street Development LLC, an entity that will be leasing the space to DaVita Inc., a Denver-based, Fortune 500 company and leading provider of kidney care in the US. DaVita will occupy units C,D and E of the building. The sale is valued at $2.7 million. In another transaction, Fulkerson, Linklater and Tingus closed the sale of 6,237 square feet of space to Atman Reyes for $1.1 million. Dr. Reyes, who specializes in child and adolescent psychiatry, will be relocating his practice to Unit A of the building from Woodland Hills, CA.

DEVELOPMENT

LOS ANGELES-Canadian developer the Onni Group plans to break ground by August on a 32-story tower at 888 S. Olive St. The proposed $100-million development here would create 283 apartments and open in 2015. It would rise on a plot entitled in 2009 by LaeRoc Funds. Onni bought the site along with the adjacent Coast Savings Building from LaeRoc last year for $16.5 million. The so-far-unnamed 283-unit tower is currently in the plan check phase of the permitting process and is on pace to break ground by August, explains Chris Evans, Onni's executive vice president, in a prepared statement.