SACRAMENTO, CA-Oaktree Capital Management of Los Angeles sells 801 K. St. to Triple Net Properties LLC of Santa Ana, CA for $65.5 million. The 16-year-old Downtown office building is 60% occupied by the state Department of Conservation and has about 12% vacancy.
TUALATIN, OR-The Atlanta-based chain of sports performance training facilities signs a five-year lease for a recently renovated building here en route to opening its first Oregon location.
KING OF PRUSSIA, PA-Locally based Universal Health Services is selling two California hospitals it acquired earlier this year to Catholic Healthcare West. The hospitals generate a combined $80 million in revenue.
CLEVELAND-The properties total 18.8 million sf, of which 80% is in New York and New Jersey. The seller is Florida-based Benderson Development Company Inc. The sale is expected to close sometime during the second quarter.
SAN JOSE-The new owner is Federal Realty Investment Trust. It is the first West Coast purchase for the Rockville, MD-based REIT since 1999, and a company executive tells GlobeSt.com it is actively seeking more assets in both the Bay Area and Southern California.
FIFE, WA-The Portland-based company pays about $28.2 million for Fife Business Park, an 11-building development with more than 100 tenants. The park was developed in 1985 and is currently about 88% leased.
MONTREAL-An affiliate of CNL Hospitality Properties obtains a floating-rate refinancing from GMAC Commercial Mortgage of Canada Ltd. for the 20-story, 605-room property near the Montreal convention center.
LIVERMORE, CA-The Minneapolis-based big box retailer recently signed a $9-million lease for Livermore Distribution Center, a property owned jointly by Atlanta-based IDI and JPMorgan.
PORTLAND-The 10-year lease puts the United States Postal Service in the same building as one of its mail movers and right next to another. The building was developed by Trammell Crow for publicly traded AMB Property Corp.
SEATTLE-The Puget Sound industrial vacancy rate drops from 8.27% to 8.18% in the first quarter, due largely to nearly one million sf of absorption in the 95.5-million-sf Kent Valley submarket.