Bixby Enters Seattle Market

This industrial building at 1417 West Valley Highway North in Auburn, WA, is one of the two buildings Bixby Land purchased.

LOS ANGELES— Bixby Land Co. has entered into the Seattle market. The developer and investor has purchased two industrial properties in Seattle, WA, for $12.4 million. The two fully leased buildings are 14513 32nd Street East in Sumner, a 63,768-square-foot building, and 1417 West Valley Highway North in Auburn, WA, a 34,435-square-feet building.   SALES SEATTLE, WA— AAA of Washington has purchased One Newport Building for $29 million. Located at 3605 132nd Avenue SE in Bellevue, WA, the property is a 89,850 square foot Class A office building. AAA of Washington will occupy the majority of the property and lease up the top three floors. Gary Guenther , Jason Rosauer , and Rob Anderson of Kidder Mathews represented AAA in the transaction. HENDERSON, NV—Security Properties and an entity owned by Madison Core Property Fund have purchased Black Mountain Villas, a 289-unit apartment complex in Henderson, NV. The property was purchased through the Security Properties Multifamily Fund III and with New York Life Real Estate Investors. The purchase price was not disclosed. SUN VALLEY, CA— Sun Valley Land has acquired 26.25 acres of land in the San Fernando Valley for $21.5 million. The property was formerly a movie set and housed the U Pick Parts auto dismantling business. It is not clear what the buyer’s plans are for the property. CBRE’s Dave Harding , Greg Geraci , Matt Dierckman and Billy Walk represented the seller, while Joe Carroll from Resource One Real Estate represented the buyer.   LEASES GLENDALE, CA—Transportation Insurance Brokers have signed a 16,003-square-foot lease at 425 W. Broadway in Glendale, CA. The lease has a 132-month term and is valued at $5.2 million. Bill Boyd , Linda Lee , and Scott Unger of Charles Dunn Co .’s Glendale office represented the landlord, while David Kluth of NGKF represented the tenant. LOS ANGELES— Torres Martinez Desert Cahuilla Indian Tribe has signed a 24,408-square-foot lease 900 Corporate Center Drive in Monterey Park. The lease has a 126-month term and is valued at $8 million. Linda Lee, Scott Unger and Bill Boyd of Charles Dunn Company’s Glendale office represented the landlord, and Steve Seinfeld of Cresa represented the tenant. LOS ANGELES—Co-working company Spaces has signed a 29,791-square-foot lease at 145 S. Fairfax Ave. in Los Angeles. The lease has a 10-year term and is valued at $15 million. CBRE’s Danny Rainer represented Spaces while Rob Waller and Patrick Amos represented the landlord, a subsidiary of the A.F. Gilmore Co.   FINANCING HIGHLANDS RANCH, CO—The owners of office building Shea Center II have secured a $17.7 million loan. The loan has a 10-year term with 5-years interest only and 30-year amortization schedule. Doug Austin , senior vice president/senior director of NorthMarq Capital secured the financing on behalf of the borrower. IRVINE, CA—The owners of Pointe Newport, a 93-unit apartment complex, have secured a $7.5 million refinancing loan. The 10-year fixed-rate loan has a 3.88% interest rate. Doug Taylor , senior vice president from Bellwether Enterprise secured the funding on behalf of the borrower. SAN DIEGO, CA— Coast Income Properties has secured a $65 million loan to refinance the Village at Pacific Highlands Ranch. The 11-year fixed rate loan was funded through a life company and priced aggressively. Bill Chiles , Scott Peterson and Brian Cruz of CBRE’s San Diego office secured the funding on behalf of the borrower.