DEALS
* FowlerShore & Flanagan, a Larkspur, Calif.-based investment group, acquired the 320-unit Oasis Apartments in Palm Desert for more than $17 million in the largest multifamily transaction in the Coachella Valley this year, according to Sean Deasy of CB Richard Ellis, who represented both the buyer and the seller, Richmond Heights, Ohio-based Associated Estates Realty Corp., a real estate investment trust. Deasy said the complex, at 77-777 Country Club Drive, is one of the largest in Palm Desert.
* Riata Apartments LLC, a Los Angeles-based firm operated by Pacific Property Co. of Palo Alto, acquired the 170-unit Riata Apartments at 8561 De Soto Ave. in Canoga Park for $7.8 million from Riata Apartments LP of San Diego. Dean Zander of Hendricks & Partners, who represented both parties in the sale, said the seller recently began renovating the property, which the new owner will complete at a cost of about $1 million.
* Foothill Nissan acquired a newly constructed, 26,000-square-foot building occupied by Office Depot on 1.75 acres of land at 3030 Foothill Blvd. in La Crescenta for $5 million from Regency Realty Corp., according to Dave Maron of Stevenson Real Estate Services in Glendale, who represented the buyer. The seller was represented by Bill Bauman of Seeley Co. In a related deal, Vons Grocery Co. purchased the former Foothill Bowl bowling alley, a 48,000-square-foot building on two acres at 3237 Foothill Blvd. in La Crescenta, for $3.7 million from Foothill Nissan. Maron, who represented both buyer and seller, said Vons plans to raze the building and construct a new grocery store of approximately 55,000 square feet.
* Online retailer 3Dshopping.com signed a six-year, $3.6-million lease for 25,712 square feet of space at 308 Washington Blvd. in the Pacifica Square shopping center in Marina del Rey. The tenant was represented by Joseph Gabbaian of Grubb & Ellis. The landlord, Pacifica Square, was represented by Leonard & Ohren.
* Commercial real estate executive William D. Feldman of William D. Feldman Associates acquired Valencia Gardens, a 46,700-square-foot industrial complex at 27820-25 Fremont Court in Valencia Industrial Center for more than $2.5 million from Valencia Gardens. The buyer represented himself. The seller was represented by Luke Palmo of Westmac Commercial Brokerage Co.
* Investment group 1231 Lincoln #173 LLC bought a 7,260-square-foot sound studio at 1231 Lincoln Blvd. in Santa Monica for $1.8 million from 1231 Lincoln Investors LLC. The buyer was represented by Darin Beebower of Renaissance Realty Advisors. The seller was represented by John Warfel of Metropolitan Pacific.
* The Los Angeles Child Guidance Clinic acquired a 40,977-square-foot parcel of land at 3031 S. Vermont Ave. in Los Angeles for $1.7 million from the Los Angeles Community Development Bank. The buyer was represented by John E. Alle of the John Alle Co. The seller was represented by Rosey Miller of Julien J. Studley Inc.
* Direct Connection, a direct-mail firm based in La Verne, purchased a 17,289-square-foot industrial building at 1968 Yeager Ave. in the San Polo La Verne Business Park for $1.1 million, relocating from within the 100-acre, master-planned business park in La Verne, according to Randy Lockhart and Rick Sheckter of Grubb & Ellis Co., who represented the seller, Baldwin Park-based San Polo La Verne Business Park. Todd Launchbaugh of Lee & Associates represented the buyer.
