HUNTINGTON BEACH, CALIF. — Marcus & Millichap has brokered the sale of Seagate Plaza, a shopping center located at 16107 Bolsa Chica St. in Huntington Beach. Cathy Investments acquired the property from Asbury Properties for $10.8 million. Carl’s Jr., Seagate Veterinary Hospital, Classic Cleaners, Seagate Liquor & Grocery, Subway and Coastline Dental occupy the 30,234-square-foot retail plaza, which was built in 1975. Joseph Lising of Marcus & Millichap represented the..
OAKLAND, CALIF. — Trammell Crow Residential and KTGY Architecture + Planning have broken ground on Alexan Webster, a mixed-use development being built on a parking lot at 2330 Webster St. in the Lake Merritt neighborhood of Oakland. Designed by KTGY, the 1.4-acre redevelopment project will feature a 234-unit apartment community, 15,000 square feet of street-front retail space and a public and residential parking garage. The $135 million sustainable development will also feature 5,000..
ORANGE, CALIF. — Coldwell Banker Commercial Advisors (CBC Advisors) has arranged the sale of Shops at Stater Bros, a multi-tenant retail strip center located on Tustin Avenue in Orange. A local buyer acquired the retail center for $3.8 million. The property features 14,575 square feet of retail space. Scott Hook of CBC Advisors represented the undisclosed seller in the transaction.
TEMECULA, CALIF. — Colliers International has arranged the acquisition of a multi-tenant retail and industrial property located at 41735 Winchester Road in Temecula. Anderson Family Trust acquired the property from Winchester Group JV for $3.2 million. Redline Athletics, The Springs Community Church and All Star Promotions, among others, occupy the 27,924-square-foot building, which was fully occupied at the time of sale. Joe Brady of Colliers represented the buyer, while John Pfaffl of..
SANTA MONICA, CALIF. — Cypress Equity Investments has purchased a commercial property located at 3223 Wilshire Blvd. in Santa Monica. Satnam Investments sold the property for an undisclosed price. The property is comprised of two parcels, including a two-story, 11,730-square-foot building. The parcels are zoned mixed-use, allowing for a range of redevelopment opportunities. Mitchell Stokes of Madison Partners represented the seller and buyer in the deal.
LOS ANGELES — Rexford Industrial Realty has purchased a six-building industrial park in the Los Angeles submarket of South Bay for $210.5 million. The Class A park is known as Rancho Pacifica Industrial Park. The acquisition contains a total of about 1.2 million square feet on 56 acres. The park is leased to 23 tenants. It sits adjacent to the Alameda Intermodal Corridor, six miles from the Ports of Long Beach and Los Angeles.
RIVERSIDE, CALIF. — Lancaster Pollard has arranged a $6.5 million refinancing for Magnolia Grand, a 95-unit independent living community in Riverside, located in the Inland Empire region of California. The borrower is BPM Senior Living Co., which owns and operates a portfolio of seniors housing communities in the Western United States. The Fannie Mae loan is non-recourse and restructures a permanent loan that was nearing maturity. In addition to refinancing existing debt, the loan will..
IRVINE, CALIF. — Equity Office has broken ground on Von Karman Creative Campus (VKCC), a nine-building creative office campus in Irvine. The campus will be situated at the corner of Von Karman Avenue and Alton Parkway, on the site of the former Von Karman Corporate Center. VKCC will feature amenities like complimentary on-site concierge to assist with personal tasks, an indoor/outdoor fitness center, free group fitness classes, onsite cafe, dedicated dog parks, regular food trucks and..
CONCORD, CALIF. — Concord Airport Plaza, a 350,256-square-foot office property in Concord, has received $43.3 million in financing. The two-building property is located at 1200 and 1220 Concord Ave. The five-year, floating-rate loan will be used to reposition the property. HFF’s Chris Gandy and Christie Donnelly placed the loan with ACORE Capital.
CORONA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $28.6 million sale of Sierra Del Oro Towne Centre, a 110,004-square-foot shopping center located in Corona, roughly 48 miles outside Los Angeles. Ralphs anchors the center, which is home to tenants including Dollar Tree, Anytime Fitness, Bank of America, Jack in the Box, Domino’s Pizza, Children’s Montessori Center, Kumon Math and Reading Center, Mercury Insurance and Postal Annex. Pat Kent, Ed Hanley and..