REBusinessOnline

DAUM Commercial Brokers $16.1M Sale of Industrial Property in Southern California

BREA, CALIF. — DAUM Commercial has brokered the sale of an industrial property located 331-333 Cliffwood Park St. in Brea. SAME Investments sold the building to LFT-Cliffwood for $16.1 million. Constructed in 1974, the 99,552-square-foot property features 7,900 square feet of office space, four dock-high loading doors, a ground-level loading door, 22- to 24-foot minimum warehouse clearance, a fenced yard and a recently installed Energy Star-rated "cool roof." Chris Migliori and the DAUM …

Walnut Town & Country Retail Center in California Changes Hands for $10.7M

WALNUT, CALIF. — Faris Lee Investments has arranged the sale of Walnut Town & Country, a multi-tenant retail center located at 1205-1243 N. Grand Ave. in Walnut. A Northern California-based family trust acquired the property from an Oregon-based family trust for $10.7 million. Built in 1988, the 22,322-square-foot property is situated on 1.2 acres of land at the intersection of Amar Road and Grand Avenue. At the time of sale, the property was 95 percent occupied by a variety of …

Ensign Group Purchases 115,517 SF Office Building in Southern California

SAN JUAN CAPISTRANO, CALIF. — The Ensign Group, on behalf of a wholly owned subsidiary, has acquired an office building located in San Juan Capistrano. The name of the seller and acquisition price were not released. The Ensign Group plans to enter into a lease with its wholly owned subsidiary, Ensign Services, and expects Ensign to occupy a portion of the 115,517-square-foot property upon termination of its existing office leases in 2019. At the time of acquisition, the property was 92 …

Avison Young Brokers $16.8M Acquisition of Industrial Building in Temecula, California

TEMECULA, CALIF. — Avison Young has arranged the acquisition of MCA Business Center, a newly constructed industrial building located on Dendy Parkway in Temecula. An undisclosed buyer purchased the property from MCA Realty for $16.8 million. The buyer plans to occupy the entire 143,689-square-foot facility. Completed in 2018, MCA Business Center features 32-foot clear-height ceilings, 120-foot truck courts, 26 dock-high loading doors, three grade-level doors, 255 skylights and unobstructed …

Ocean West Capital Partners Acquires 124,000 SF Office/Retail Building at Hollywood and Vine

LOS ANGELES — Ocean West Capital Partners has purchased the Taft Building, a 12-story office and retail building located at the intersection of Hollywood Boulevard and Vine Street in Hollywood, for an undisclosed price. Originally built in 1923, the historic property features 124,000 square feet of space. The building, which was the first high-rise office building in Hollywood, recently underwent an extensive renovation. The buyer plans to complete capital upgrades to the lobby and common …

Hanley Investment Group Arranges $6.4M Sale of Two-Tenant Retail Property in Southern California

COVINA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $6.4 million sale of a two-tenant retail property located within Covina Shopping Center in the Southern California community of Covina. Tenants at the 39,159-square-foot building include dd's Discounts and Stars Gymnastics. Bill Asher, Ed Hanley and Jeff Lefko of Hanley Investment Group arranged the transaction on behalf of the seller, an Orange County-based family partnership. Moon Lim of Marcus & …

Harbor Associates, Ascentris Acquire 110,110 SF Office Building in Rancho Bernardo, California

RANCHO BERNARDO, CALIF. — Harbor Associates and Ascentris have partnered to acquire The Pinnacle, an office building located in the north San Diego submarket of Rancho Bernardo, for an undisclosed price. Completed in 2007, the property features 110,100 square feet of Class A office space. At the time of sale, the property was 93 percent leased. The buyers plan to execute a capital improvement plan to enhance the tenant experience, including new outdoor covered seating and collaborative …

Bascom Group Buys 25-Unit Apartment Community in Southern California for $7.5M

ANAHEIM HILLS, CALIF. — The Bascom Group has purchased Sleepy Hollow Apartments, an infill apartment community located in Anaheim Hills. An undisclosed seller sold the property for $7.5 million, or approximately $300,000 per unit. Built in 1964, the property features 25 apartment units in a mix of two- and three-bedroom units averaging more than 1,000 square feet. Manufacturers Bank provided debt financing for the acquisition. Scott Parker and Spencer Heichman of Triqor Group brokered …

DAUM Commercial Negotiates Sales of Two Industrial Buildings in Costa Mesa, California

COSTA MESA, CALIF. — DAUM Commercial Real Estate Services has arranged the sales of two industrial warehouses in Costa Mesa to two private buyers. Mike Barreiro of DAUM represented the seller, Keller & Sons Construction, in both transactions. Constructed in 1971 and 1972, the warehouses both feature secured fenced yards, drive-in/grade-level doors, 13-foor clear heights, warehouse skylights, office space and upgraded roofs. In the first transaction, Steven Card and Christopher …

Retail Drives Industrial Growth Through Much of the Western U.S.

The industrial market is enjoying a moment in the sun throughout the West. Much of this is due to the retail sector’s continued technological advances, which have placed increasing demand on speedy delivery as manufacturing, distribution and warehousing needs are more important now than ever. “The market fundamentals for industrial properties are the best they have ever been,” says Bob O’Neill, senior vice president of acquisitions at CapRock Partners in Newport Beach, Calif. …