CALABASAS, CALIF. — Gemdale USA has completed the disposition of 4500 Park Granada, a three-story Class A office building in Calabasas, to a joint venture between Cross Ocean Partners and Palisade Group for an undisclosed price. Situated on 20 acres, the 222,667-square-foot property offers courtyards, landscaped gardens and executive parking.
Originally developed as a corporate headquarters facility for Lockheed Martin and later serving as the headquarters for Countrywide, the asset operated as a single-tenant campus for nearly 20 years. Recently, the building underwent an extensive renovation to improve efficiency and sustainability, as well as conversion to a multi-tenant office building.
At the time of sale, 4500 Park Granada was fully leased to seven tenants across diverse industries, including consumer goods (44 percent), insurance (30 percent), hospitality (14 percent), coworking (8 percent) and financial services (3 percent).
Kevin Shannon, Ken White, Rob Hannan, Michael Moll, Laura Stumm and Alex Beaton of Newmark represented the seller in the deal. Jonathan Firestone, Blake Thompson and Henry Cassiday of Newmark Global Debt & Structured Finance offered market financing guidance during the sale.
CARSON AND CARLSBAD, CALIF. — Westport Properties has acquired a self-storage portfolio comprising two StorQuest Self Storage-managed assets in Carson and Carlsbad. Terms of the transaction were not released.
Built in 2006 on 4.5 acres, the Carson property is located at 17106 Avalon Blvd. The Carlsbad property is located at 2500 Campbell Place and was built in 2008 on 3.4 acres. The portfolio totals 270,841 rentable square feet and 2,284 self-storage units. At the time of sale, the portfolio was 90 percent leased.
Greg Wells, Kevin Cuff, Luke Elliott and Mike Mele of Cushman & Wakefield’s Self Storage Advisory Group represented the undisclosed seller in the transaction.
PARKVILLE, MD. — Colliers Mortgage has arranged a $10.4 million HUD-insured loan for the refinancing of The Cottages of Perry Hall, a 64-unit seniors housing community in Parkville. Situated on 3.2 acres about seven miles northeast of Baltimore, the property features four cottages that provide assisted living and memory care living arrangements. Services and amenities at The Cottages of Perry Hall include 24-hour care, full-service dining, housekeeping, community and activities rooms, beauty salon, fully landscaped courtyards and secure outdoor space.
Christopher Fenton and Catherine Eby of the Lenox, Mass., office of Colliers Mortgage, in partnership with Health Financing Consultants, arranged the financing on behalf of Charter Senior Living. The loan carries a 35-year term and amortization schedule.
CHARLOTTE, N.C. — Avison Young has negotiated the sale of a 123,140-square-foot industrial facility located at 6000 Old Concord Road in Charlotte. Chris Skibinski, Henry Lobb, Abby Rights and Jewell Gentry of Avison Young represented the buyer, Stonelake Capital Partners, in the transaction. Will Jenkins, Marc Hedrick and Jack Harvey also represented Stonelake on an internal basis.
Scott Hensley of Piedmont Properties represented the seller. The sales price was not disclosed. The property was built in 1984, according to LoopNet Inc.