West
Voit Spearheads 85,053 SF Southern California Sale
The property includes an 82,053-square-foot building and a 3,000-square-foot building. It is situated on 4.7 acres. It was purchased by diamond manufacturing firm SH Trading, Inc., the United States subsidiary of South Korea-based Shinhan Diamond Corp. The firm will use the space for local manufacturing and distribution.
Chesapeake Lodging to Buy 430-Room Boston Marriott Newton for $77.3M in Cash
Located approximately 15 miles west of Boston at 2345 Commonwealth Ave., the 41-year-old, seven-story Boston Marriott Newton occupies an 11.5-acre site fronting the Charles River. The property has undergone extensive renovations over the last two years and, in addition to its guestrooms, features 20,000 square feet of meeting space, a restaurant and a fitness center.
Buchanan Puts Up $21M for First Mortgage on Luxury Apartment Complex in Northern California
Aqua Via is located near Jack London Square, a hallmark of Oakland currently undergoing a $375 million redevelopment. It is also located close to public transportation, including AC Transit buses and Amtrak trains.
Report: Doubletree Berkeley Marina in Default
According to the Contra Costa Times, the Doubletree was purchased in September 2006 by a joint venture of Westmont and Canada-based Cadim Inc., which paid $416 million to buy a real estate investment trust along with its 21-hotel portfolio, including the Doubletree.
CBRE Investors Grabs 1.6M-SF Downtown Oakland CRE Portfolio for $356M
Shorenstein had acquired four of the buildings in a $120 million deal in late 1996, and brought in the Ohio pension fund as a 50/50 partner in 1998. In 1999, the joint venture exercised an option to purchase the parking facility from the City of Oakland.
CBRE Sells Hawaiian Mall for $27.5M
The retail center consists of 11 buildings housing 43 tenants in 170,275 square feet of retail space, with major tenants including Longs Drugs and City Mill. It is located on a 15.62-acre lot.
GPE Management Boosts Property Management Team
Mark Carrell and Shirley Hawley have joined GPE Management Services, bringing nearly half a decade of combined property-management experience to the Scottsdale, Az.-based firm.
Hawaii’s Largest Office Property to Trade in $232M Deal
Bishop Square, which with 960,000 square feet of office space holds the title of the largest office property in Hawaii, is about to change hands. Santa Monica, Calif.-based Douglas Emmett Inc. has signed an agreement to acquire the premier complex for $232 million from Bishop Square Associates, a partnership involving Sacramento, Calif.-headquartered California Public Employees’ Retirement System (CalPERS) and Milwaukee-based Northwestern Mutual.
Hines and Partner Sell Premier Office Building in California for $103.2M
Houston-based international real estate firm Hines and Fort Worth-headquartered Crescent Real Estate Equities Co. have just sold the 271,556-square-foot office building at 2211 Michelson Drive in Irvine, Calif., to Los Angeles’s Kilroy Realty Corp.
Voit Continues Expansion With Opening of Phoenix Office
The opening is actually a re-opening: the Newport Beach, Calif.-based company has previously had a Phoenix office, but closed it in 2008 during the recession. So could this herald the return of good times to the market? Perhaps.