CPA, an affiliate of W. P. Carey & Co., has acquired four manufacturing facilities from Best Brands Corp. for approximately $50 million. The facilities total about 665,000 sq. ft. and they are located in Colton, Calif.; Dallas, Texas; Bonner Springs, Kansas; and Eagan, Minn. The facilities contain a combination of manufacturing, warehousing and refrigerated warehousing. The properties will be leased back to Best Brands Corp.on a long-term basis.
CIP Real Estate a full-service real estate investment and management company based in Irvine, Calif., has sold two multi-tenant business parks to CRP-2 Acquisitions LLC, an affiliate of Colony Realty Partners, for $37.25 million. Milliken Business Center is a 12-building, 157,711 sq. ft. property situated on approximately 11 acres in Ontario. Brea Canyon Business Park is a five-building, 79,839 sq. ft. property located on nearly 4.5 acres.
JCK Hospitality LLC has acquired two San Diego hotels totaling 202 rooms from Mira Mesa Hotels LLC for $23.8 million. The properties include a Quality Suites and a Holiday Inn Express. The hotels are adjacent to each other near the business districts of Miramar, Scripps Ranch, Sorrento Mesa and Poway. The hotels are just 1.7 miles from the Miramar Air Station and 17.8 miles from San Diego's International Airport.
