REBusinessOnline

Cushman & Wakefield Arranges $55 Million Sale of Whole Foods Property in Silicon Valley

LOS ALTOS, CALIF. — Cushman & Wakefield has arranged the $55 million sale of a 50,451-square-foot retail property leased to Whole Foods Market in Los Altos. Kevin Held and Matt McNeil of Cushman & Wakefield arranged the transaction on behalf of the buyer, Imperial Hornet Developers LLC. Compass Grand Associates LLC sold the asset. The store features dual entry on the ground floor, as well as two levels of subterranean

Faris Lee Investments Brokers $1.3M Sale of Value-Add Retail Property in Orange County

SANTA ANA, CALIF. — Faris Lee Investments has directed the sale of a retail property located at 111 E. Saint Andrew Place and 1947 and 1959 S. Main St. in Santa Ana. An undisclosed buyer acquired the property for $1.3 million. The property is a value-add, multi-tenant asset situated in Santa Ana’s historic district. Nick Coo, Matt Brooks, Tom Chichester and Joe Chichester of Faris Lee represented the undisclosed seller, while Andres Cortez of RE/MAX Orange County East represented the …

TruAmerica, ASB Real Estate Purchase Multifamily Community in Orange County for $85.8M

FOUNTAIN VALLEY, CALIF. — TruAmerica Multifamily, in partnership with ASB Real Estate Investments on behalf of its Allegiance Real Estate Fund, has acquired Corte Bella, a multifamily property located 9580 El Rey Ave. in Fountain Valley. An undisclosed seller sold the property for $85.8 million. Built in 1969 and situated on 12 acres, the property features 251 units in a mix of one- and two-bedroom layouts spread across multiple two-story buildings. Community amenities include seven …

Duke Realty Acquires 25.5-Acre Industrial Development Site in Irwindale, California

IRWINDALE, CALIF. — Duke Realty has purchased a 25.5-acre land parcel located at 13131 Los Angeles St. in Irwindale for an undisclosed amount. The site is zoned and entitled for heavy industrial users and can accommodate a variety of layouts, including a nearly 500,000-square-foot warehouse. Additionally, the property features Interstate 605 frontage. Darla Longo and Barbara Perrier of CBRE and Andy White of Colliers International represented the undisclosed private seller in the

Newman International Buys 159,324 SF Shopping Center in Southern California for $20M

SAN BERNARDINO, CALIF. — Newman International has acquired Seley Plaza, a neighborhood shopping center located at 2002-2383 E. Highland Ave. in San Bernardino. A joint venture between Robhana Group and SAFCO Capital Corp. sold the property for $20 million, or $125 per square foot. At the time of sale, the 159,324-square-foot property was 91 percent occupied by 21 tenants. Current tenants include 99 Cents Only, Rite Aid Pharmacy, Big 5 Sporting Goods, Dollar Tree, Chase Bank, Rent-A-Center, …

Quantum Capital Arranges $16M Loan for New Retail Center in Downtown Los Angeles

LOS ANGELES — Quantum Capital Partners has secured $16 million in long-term first mortgage financing for the recapitalization of a retail center in downtown Los Angeles’ Arts District. Third Art Holdings, a local investment group, is the sponsor. Located at 833 E. Third St., the 27,000-square-foot retail center is the $5 million adaptive reuse of a 1930s-era bowstring truss warehouse building. Completed in 2017, the property is currently 100 percent leased to a variety of tenants, …

NXT Capital Provides $29M Acquisition Loan for 120-Unit Apartment Community in Concord, California

CONCORD, CALIF. — NXT Capital has funded a $29 million first-mortgage loan for the acquisition of Summit at Lime Apartments, a Class B apartment community in Concord. The name of the borrower was not released. The community features 120 apartment units, a swimming pool, fitness center, two outdoor barbecue areas and a dog park. Annie Rice of CBRE’s Los Angeles office placed the loan with NXT

Voit Real Estate Negotiates $18.2M Sale of Warehouse Property in Southern California

SAN BERNARDINO, CALIF. — Voit Real Estate Services has arranged the sale of a newly developed industrial warehouse building located at 2705 Lexington Ave. in San Bernardino. A partnership between Hartford, Conn.-based Penwood Select Industrial Partners III and Newport Beach, Calif.-based Shaw Development Partners sold the property to a global consumer products company for $18.2 million. The 154,451-square-foot facility features 2,200 square feet of office space, an ESFR sprinkler system, a …

CapitaLand Acquires Multifamily Portfolio in Western U.S. for $835M

SINGAPORE — CapitaLand has acquired a multifamily portfolio located throughout the metropolitan areas of Seattle, Portland, Los Angeles and Denver for $835 million. The Singapore-based real estate company acquired the assets through its wholly owned international business unit, CapitaLand International. The 16-property, Class B portfolio includes 3,787 units, representing a price per unit of approximately $220,000. The acquisition will more than double CapitaLand’s investment in the U.S. …

Invesco Real Estate Acquires 503,592 SF Meridian Distribution Center in Riverside, California

RIVERSIDE, CALIF. — Invesco Real Estate has purchased Meridian Distribution Center II, located at 22000 Opportunity Way in Riverside. Sun Life Assurance Co. of Canada, through its advisor Bentall Kennedy, sold the property for an undisclosed price. Newcastle Partners completed construction of the 503,592-square-foot property earlier this year. Situated on 26.9 acres, the facility features 36-foot interior clearance, 88 dock-high doors, 150 trailer parking stalls and 217 car parking spaces. …

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