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Rexford Industrial Realty Buys Industrial Property in Rancho Cucamonga for $19.8M

RANCHO CUCAMONGA, CALIF. — Rexford Industrial Realty has purchased a 201,035-square-foot industrial property in the Inland Empire West submarket of Rancho Cucamonga for $19.8 million. The property is located at 11190 White Birch Drive. The asset is fully leased to a single tenant in the logistics industry on a triple-net basis at below-market rent. The building was originally constructed for two tenants, but, upon lease expiration, the property has the potential for efficient re-tenanting..

July 26, 2017

CBRE Global Investors Fund Purchases 227-Unit Apartment Community Near Denver

DENVER — A fund advised by CBRE Global Investors has acquired Viridian at the Gardens on Havana near Denver for an undisclosed sum. The 227-unit garden-style community is located at 10901 E. Garden Drive in Aurora. Viridian is two miles from a light rail station that is scheduled to open later this year. It sits adjacent to the 500,000-square-foot Gardens on Havana Shopping Center. The Class A community is nearly 95 percent occupied.

July 26, 2017

Nazareth Enterprises Acquires Madrone Business Park Near San Jose for $15.6M

MORGAN HILL, CALIF. — Nazareth Enterprises has purchased the 180,000-square-foot Madrone Business Park in Morgan Hill, just south of San Jose, for $15.6 million. The two-building asset is located at 18705 and 18715 Madrone Parkway. Nazareth Enterprises also purchased the Paramit Building late last year, making the company one of the single-largest landlords in Morgan Hill. Sterling Bank & Trust provided financing for the project. Abe Matar with Landmark Real Estate Services..

July 26, 2017

Westcore Properties Buys Industrial Building in Stockton for $9.1M

STOCKTON, CALIF. — Westcore Properties has purchased a 158,400-square-foot industrial building in Stockton for $9.1 million. The building is located at 3834 Duck Creek Drive. It is a freestanding, cross-load building. Mike Goldstein and Ryan McShane of Colliers International represented the undisclosed seller in this transaction.

July 26, 2017

UCLA Extension Relocates Westwood Administrative Headquarters

LOS ANGELES — UCLA Extension is relocating its administrative headquarters in Los Angeles. The school has leased a 51,452-square-foot space at 10960 Wilshire Blvd. The new facilities are just four blocks from its current location at 10955 Le Conte Ave. in Westwood Village. The extension signed a long-term lease for floors 16 and 17, which are joined by an interconnecting staircase. Craig Jablin of Savills Studley represented UCLA.

July 26, 2017

Bell Partners Buys 196-Unit Olmsted Place Apartments in Boston for $103M

BOSTON — Bell Partners has purchased the 196-unit Olmsted Place apartment complex in the Boston submarket of Jamaica Plain for $103 million. The community is located at 161 S. Huntington Ave. Olmsted Place debuted in 2015. It is fully leased. The community overlooks Jamaica Pond, part of the Emerald Necklace park system designed by legendary landscape architect Frederick Law Olmsted. The seller was a joint venture between Boston Residential Group and the Carlyle Group. The JV purchased..

July 26, 2017

Rexford Industrial Buys 1.2 MSF Industrial Facility in Los Angeles

LOS ANGELES — Rexford Industrial Realty has purchased a 1.2 million-square-foot industrial facility in the South Bay submarket of Los Angeles for an undisclosed sum. The facility is located at 20001-20021 Rancho Way and 2301-2399 E. Pacifica Place in Rancho Dominguez. The master-planned park was built between 1987 and 1989. It includes five industrial buildings and one flex building, each residing on its own parcel. Known as Rancho Pacifica Park, the facility was 99 percent leased at..

July 25, 2017

Bridgeton Holdings Sells The Pioneer Office Building in San Francisco for $34M

SAN FRANCISCO — Bridgeton Holdings has sold The Pioneer Building, a 37,104-square-foot office building in San Francisco’s Mission District, to American Realty Advisors for $34 million. The building is fully leased to Musk Industries, a venture backed by Elon Musk. The new lease with Musk Industries is for a 10-year term with space delivered in “as-is” condition. NKF’s Kyle Kovac, Michael Taquino and Daniel Cressman represented Bridgeton Holdings in this transaction.

July 25, 2017

Anchor Health Properties Purchases Fletcher Parkway Medical Center Near San Diego

LA MESA, CALIF. — Anchor Health Properties has purchased Fletcher Parkway Medical Center, an 82,024-square-foot medical office building in the San Diego suburb of La Mesa, for an undisclosed sum. The building is situated adjacent to Sharp Grossmont Hospital, just north of the Interstate 8/California 125 interchange. Sharp HealthCare anchors the center. The asset features services like Surgical Care Affiliates (SCA) surgery center, radiology, laboratory, diagnostics, cardiology,..

July 25, 2017

Capital One Closes $12M HUD Refinancing for 128-Bed Skilled Nursing Facility Near Portland

GRESHAM, ORE. — Capital One has provided a $12 million fixed-rate HUD 232/223(f) loan to refinance Regency Gresham, a 128-bed skilled nursing facility in the Portland suburb of Gresham. Regency Gresham was built in 1960 and expanded in 1976. The owners recently converted four-person rooms and semi-private rooms to private ones. The sponsors will use proceeds of the loan to extend their renovation program to other areas of the facility, modernize the building’s infrastructure, improve..

July 25, 2017