$27M SoCal portfolio sale

A portfolio of four San Diego, Calif., business parks totaling 162,182 square feet have sold for a total $27.2 million.

Colony Realty Partners bought the assets from McGrath Family Trust, which has owned the buildings for nearly 15 years.  more...

Investors sink money into Louisiana residences

Tenant-in-common investors recently closed on the purchase of a large apartment complex in Lafayette, La.

Purchased from Goodman Real Estate for an undisclosed price, Emberwood Apartments comprises 296 units in 24 two-story buildings. The property, built in 1985 on more than 14 acres, features approximately 267,000 square feet of residential space and includes a separate building that houses the community's leasing center.  more...

New apartments sold near San Francisco

GID Investment Advisers LLC recently acquired on behalf of an affiliate, Windsor Realty Fund-V LLC, the 284-unit Metropolitan Apartments in Emeryville, Calif.

An unidentified entity sold the property for an undisclosed price.

WRF-V is an equity co-investment joint venture between GID and the California State Teachers' Retirement System.  more...

Jacksonville's Exchange South sold

Tenant-in-common investors recently purchased a five-building office portfolio in Jacksonville, Fla., for an undisclosed price.

The property, Exchange South, totals 194,000 square feet and was sold by G&I V Exchange South LLC.

Built between 1990 and 1996, the property is located along Philips Highway, one mile north of the Philips/I-95 intersection. Situated on nearly 18 acres, Exchange South offers distribution and showroom space, and includes a 661-space surface parking lot with additional parking in the rear of each building.  more...

Opus Cotton Center deal tops $46M

Opus Cotton Center, a four-building commercial complex in Phoenix, Ariz., has sold for nearly $46.1 million.

Minnetonka, Minn.-based Carlson Real Estate purchased the property from two Opus real estate entities. The project, which is situated on 21.52 acres of land, contains four buildings that were 77 percent occupied at the time of sale.

Opus Real Estate Fund VI sold Buildings A and B, located at 4310 and 4320 E. Cotton Center Blvd. Building A contains 68,006 square feet of space, and its major tenants include Inter-Tel Technologies and Genzyme Corp.  more...

Qualcomm leases space near San Diego headquarters

Qualcomm Inc. has signed an approximately 11-year lease for the entire Mira Oberlin Plaza in San Diego's Sorrento Mesa district.

The wireless technology company paid $19 million to occupy the 77,309-square-foot building on a long-term basis. The property is located at 5880 Oberlin Drive, directly across the street from Qualcomm's corporate headquarters campus.

The lessor, Westcore Properties, acquired the six-story building in June 2005.

Qualcomm will use the space for general office purposes.