SAN DIEGO'S BANK CENTER SELLS FOR $112M
DRA Advisors/Landmark Asset Management Group has purchased the First National Bank Center in downtown San Diego for $112 million. The seller was USAA Realty Co. The 27-story, 547,448 sq. ft. building is 90% leased and the corporate headquarters for First National Bank of San Diego. Other tenants include the San Diego Employees Retirement, Higgs, Fletcher & Mack, PeoplefirstLLC and Star Systems Inc.
$90M APARTMENT SALE A RECORD FOR COLORADO
Foster City, Calif.-based Legacy Partners has sold the 1,120-unit Riata at Bel Mar Park to Carmel Partners of San Francisco for $90 million. The sale was the largest single-asset apartment transaction in Colorado history.
Situated on 50 acres in Lakewood, Colo., the community is comprised of five villages built around a central landscaped lake. Floor plans range from studio apartments to townhouses, and amenities include a fitness center, saunas, business center, pool and tennis and volleyball courts.
KITCHENWARE DISTRIBUTOR TO DOUBLE SIZE OF FACILITY
Bradshaw International Inc., a marketer of kitchenware products, is doubling its plant capacity in Rancho Cucamonga, Calif. The project's general contractor, OltmansCo., has begun construction on a 450,000 sq. ft. distribution facility adjacent to the firm's headquarters.
The $18 million project, expected to be completed in November, increases the company's building space to nearly 800,000 sq. ft. on a 22-acre site.