California

14011-S-Normandie-Ave-Gardena-CA

GARDENA, CALIF. — Matthews Real Estate Investment Services has arranged the sale of an industrial property located at 14011 S. Normandie Ave. in Gardena. Classic Components acquired the vacant asset from California-based Marmon Properties for $10.7 million. Austin Borges and Alexander Harrold of Matthews handled the transaction. Classic Components, a leader in supply chain solutions, intends to use the 37,072-square-foot, single-tenant facility as its new corporate headquarters.

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IHOP-Lancaster-Palmdale-CA

LANCASTER AND PALMDALE, CALIF. — A private investor has acquired two retail locations in Los Angeles County for $3.4 million each, or $6.8 million combined. The properties are net-leased to IHOP. The restaurants are located at 1650 W. Ave. K in Lancaster and at 39176 10th St. W in Palmdale. The deal terms consisted of a new 23-year lease that commenced at the close of escrow, 1.5 percent annual increases and a 30-unit guarantee. Andre Thompson and Peter Deltondo of Marcus & Millichap represented the seller, a private investor, and secured the buyer in the deal.

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GLENDALE, CALIF. — NAI Capital Commercial has brokered the sale of a two-building retail and commercial asset in Glendale, just north of Los Angeles. The property traded for $3.2 million, or $468 per square foot. Guillermo Olaiz and John Archibald of NAI Capital Commercial represented the undisclosed seller in the transaction. The name of the buyer was not released. Located at 1212 S. Brand Blvd. within Brand Boulevard of Cars, a strip of 21 car dealerships, the asset includes 6,733 square feet of improvements.

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DETROIT, LOS ANGELES, SAN ANTONIO AND TORONTO — The Home Depot Inc. (NYSE: HD) has announced plans for four new distribution centers in Detroit, Los Angeles, San Antonio and Toronto. The new facilities are a key component of the company’s efforts to cater to professional customers such as developers, general contractors, remodelers and property managers. The new distribution centers will stock large, bulky merchandise such as lumber, insulation and roofing shingles. The new distribution centers are expected to open in the first half of this year. Home Depot has opened similar hubs across the U.S. and expects to have 17 facilities equipped with new capabilities for pros by the end of 2024. In addition to the new distribution centers, Home Depot plans to expand its offerings to professional customers with localized product assortment tailored to each market, digital tools to manage complex orders, and special credits and pricing for professional customers. “Over the last several years, we have been investing to deliver a faster, more convenient, differentiated experience for our pros,” says Chip Devine, senior vice president of outside sales for Home Depot. “Our distribution network is one piece of the comprehensive pro ecosystem we’re building to better meet the needs …

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6300-Santa-Ana-Canyon-Rd-Anaheim-CA

ANAHEIM, CALIF. — Tourmaline Capital has acquired Anaheim Hills Shopping Village, a retail center at 6300 E. Santa Ana Canyon Road in Anaheim. A private family partnership sold the asset for $16.7 million. Originally developed in 1984, Anaheim Hills Shopping Village offers 67,528 square feet of retail space. At the time of sale, the property was 95 percent occupied with Big Lots as the anchor tenant. Daniel Tyner, Gleb Lvovich and Geoff Tranchina in JLL Capital Markets’ investment sales advisory team represented the seller and buyer in the transaction.

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16705-Via-Del-Campo-Ct-Rancho-Bernardo-CA

SAN DIEGO — Drawbridge Realty has completed 16705 Via Del Campo Court, a speculative office and R&D property in Rancho Bernardo, a master-planned community in northern San Diego. The three-story, Class A building is the first speculative office building to be constructed in the Rancho Bernardo market in more than a decade. The three-story, 80,720-square-foot building features large, efficient floor plates with 15-foot floor-to-floor ceiling heights, expansive window lines, outdoor patios on the ground level and third floor, and surface parking for more than 300 vehicles. Netherlands-based semiconductor manufacturer ASML (NASDAQ: ASML) has leased the top two floors, totaling 55,227 square feet. The first floor, totaling 25,493 square feet, is currently available for lease and being marketed by Jay Alexander and Tim Olson of JLL.

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5052-Wightman-St-San-Diego-CA

SAN DIEGO — Lee & Associates has arranged the sale of 5052 Wightman Street, an apartment building in San Diego. The asset traded for $7.1 million. Built in 1963, the building features 44 apartments. The property was held by the same owners for multiple decades, but had deferred maintenance issues. The community features an affordable component for residents earning 50 to 60 percent of the area median income. Eric von Bluecher and Ivan Del Muro-Garcia of The Von Bluecher Group — the multifamily brokerage team of Lee & Associates North San Diego County — represented the undisclosed buyer and undisclosed seller in the deal.

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Pointe-West-Plaza-San-Ramon-CA

SAN RAMON, CALIF. — PSRS has arranged $3.7 million in permanent financing for Pointe West Plaza, a retail property in San Ramon, east of the Bay Area. The firm previously arranged bridge acquisition financing for the property. Pointe West Plaza is a 16,921-square-foot building with a mix of tenants including a billiards venue, salon, bistro and Chinese restaurant. The property also features underground and surface parking, totaling 82 spaces. Jonny Soleimani and Matthew Farzinpour of PSRS secured the five-year loan with a 25-year amortization schedule through a correspondent life insurance company.

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1001-Towne-Ave-Los-Angeles-CA

LOS ANGELES — Colliers has arranged the $13.5 million sale of 1001 Towne Avenue, a mixed-use retail and office building in the Fashion District of Los Angeles. Mark Schuessler, Sean Fulp and Ryan Plummer of Colliers represented the undisclosed seller, while Mark Hong of KORUS Real Estate represented the buyer, a local private individual, in the transaction. The four-story building offers 43,700 square feet of retail and office space in suites ranging in size from 481 square feet to 4,843 square feet. At the time of sale, the property was 82 percent leased to a mix of retail and wholesale apparel businesses.

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Summerdale-Apts-Anaheim-CA

ANAHEIM, CALIF. — PSRS has arranged $3 million in financing for Summerdale Apartments, a multifamily property in Anaheim. Constructed in 1978, Summerdale Apartments features 34 units, a pool, on-site laundry, gated facility and HVAC. Grady Seldin and Thomas Rudinsky of PSRS secured a non-recourse loan, with a seven-year, interest-only term, for the undisclosed borrower through a correspondent life insurance company.

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