RIVERSIDE, CA—National Stores Inc. has signed a 10-year lease with SRG Group for a 579,708-square-foot industrial facility in Perris, CA. The lease is valued at $26 million. As part of the lease, SRG Group is building out 12,600 square feet of the space for office use. The building, which is located at 3900 Indian Avenue, has 109 dock-high doors and secured parking for 138 trailers. Tom Taylor and Steve Bellitti of Colliers International represented SRG Group, while Tres Reid and Rich Rizika of CBRE represented National Stores.

LEASES

LOS ANGELES—Kinetic Content, a creator and producer of cross-platform, multi-genre television content has signed leases at two creative office properties totaling 57,000 square feet. The firm will occupy 37,000 square feet on the 19th and 20th floors at 11755 Wilshire Blvd., where it already occupies 18,305 square feet, and 20,000 square feet nearby at 12100 Wilshire Blvd. Avison Young principal Jacob Bobek and associate Jeff Vertun, represented Kinetic Content in both leases. 

ONTARIO, CA—National Flooring Products has signed a five-year lease with Western State Technologies for a 37,828-square-foot industrial space. The lease is valued at $1.3 million. Located at 1975 E. Locust St. in Ontario, the property features 30-foot clear height and 12 dock-high loading doors with T5 high-energy efficiency warehouse lighting, as well as 7,000 square feet of office space. Milo Lipson and Ryan Velasquez of Cushman & Wakefield represented Western States in the transaction, while Jeremy Trotter of Synergy Real Estate Group represented National Flooring Products. 

SALES

LAS VEGAS—The Siegel Group Nevada has acquired two extended-stay properties operating under the Cresa Suites brand for a total of $12 million. The two properties have a total of 305 units. The first property is Crestwood Suites of Las Vegas Blvd., and has 155 units on 2.58 acres. It is walking distance to Mandalay Bay Resort and Casino. The second property is Crestwood Suites of Las Vegas, Flamingo Road, and has 150 units on 2.64 acres. The investor plans to make minor interior and exterior repairs to both properties.

PORTLAND, OR—Industrial Property Trust has purchased a 138,296-square-foot, three-building manufacturing center from a partnership between ScanlanKemperBard Cos. and funds managed by Oaktree Capital Management for $11.2 million. HFF's Nicholas Kucha and James Childress along with Wilma Warshak of Washington Real Estate Advisors represented the sellers.

SAN DIEGO, CA—Sunset Waste Holdings has acquired the Midway Village Shopping Center from Pacifica Woodside LP for $6.2 million. A Taco Bell and Wings N Things anchor the 29,781-square-foot shopping center, along with a tenant mix that includes Fairouz Cafe, Charkbait Sportfishing, Tandoori House restaurant, Fast Signs and Kyoto Sushi. The buyer plans to make minor property improvements.

LONG BEACH, CA—A private foreign investor has purchased a 20-unit apartment complex from an investor operating under 765 Cerritos LLC for $3 million at a 5.81% cap rate. The property has a mix of one-, two- and three-bedroom units, which were all recently renovated to include granite countertops and custom cabinets. Robert Stepp, principal with Stepp Commercial, represented the seller.

FINANCING

LOS ANGELES—The owner of a 75,000-square-foot medical office building has secured an $11 million loan to refinance the property. The loan has a 15-year fixed-rate loan with no prepayment penalty and a fixed interest rate of 4.25%. The loan-to-value was 70%.

IRVINE, CA—Stillwater Investment Group has secured $7.1 million in acquisition financing for the purchase of Mission Lakes Center, an 81,975-square-foot office building. Located at 3600 Lime and 3397 Mission Avenue in Riverside, the property is 80% occupied by Riverside County, Athena Research, First Legal Services and Heroes Restaurant & Brewery. Greg Brown of HFF secured the funds on behalf of the borrower.

HESPERIA, CA—Hesperia Shopping Center has secured $2.7 million in financing through Ameritas Life Insurance. The funds were used to cash out the borrower after completing a remodel on the 50,000-square-foot center. The loan has a 20-year term, is fully amortized and carries a 4.55% fixed interest rate. The borrower is the original developer of the center, which was built in 1970. The property sits on 4.3 acres

EXECUTIVE APPOINTMENTS

LOS ANGELES—Hessam Nadji, chief strategy officer and SVP for Marcus & Millichap has been promoted to senior EVP. Nadji has worked at the firm for nearly 20 years, and specializes in brokerage as well as research, advisory services and marketing. Now, he will add overseeing the firm's mortgage brokerage operations and certain corporate functions to his responsibilities.

LOS ANGELES—Pircher, Nichols & Meeks has hired Daniel J. Costa has joined the firm as an associate in the Los Angeles office. Costa joins the firm from Latham & Watkins LLP, where he worked in the real estate finance practice group. He has his JD from UCLA.

LOS ANGELES—Servicon Systems has named Chris McKee to the position of Director of Client Support Services, where he will oversee all aspects of successful customer account start-ups. He has 27-years of experience as a facilities professional in the aerospace industry.

AWARDS

SEATTLE, WA—The University of Washington won the 2015 Bank of America Merrill Lynch Low Income Housing Challenge for its business plan for the development of “Spur in the Wedge Village” in Tacoma, WA. In the competition, undergraduate and graduate students develop a model to house low- to moderate-income residents that is possible in the current economic environment.