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CBRE Arranges $8.2M Sale of Single-Tenant Retail Property in LA

LOS ANGELES — CBRE has arranged the $8.2 million sale of a 12,715-square-foot retail property leased to CVS/pharmacy in Los Angeles. Alex Kozakov and Patrick Wade of CBRE arranged the transaction on behalf of the seller, Paragon Commercial Group. Millenium Investment LLC acquired the asset. The property is located three miles from downtown Los Angeles.

November 21, 2017

Inland Real Estate Facilitates $95M Sale of 360-Unit Multifamily Community in Metro Denver

BROOMFIELD, COLO. — Inland Real Estate Acquisitions Inc. has facilitated the sale of 8000 Uptown Apartments, a 360-unit multifamily community located in Broomfield, 18 miles northwest of Denver. The property sold for $95 million, according to BizWest. Matthew Tice and Brett Smith of Inland Real Estate facilitated the transaction. The buyer was an unspecified affiliate of Inland. The seller was not disclosed. Constructed in 2015, the property consists of 19 buildings with 160..

November 21, 2017

Office Rental Rates on the Rise in All 30 of CBRE’s Top 30 Tech Submarkets

LOS ANGELES — Office rents across the United States and Canada are getting a big lift from the influence of tech job creation, according to CBRE. All of the submarkets tracked in the brokerage giant’s annual Tech-30 report have experienced rental growth over the past two years. In 13 of those submarkets, asking rental rates have grown by more than 10 percent in the two years tracked between second-quarter 2015 and second-quarter 2017. On the list of 30 submarkets, office rent growth..

November 21, 2017

George Smith Partners Arranges $50M in Financing for Hyatt Redevelopment Near LAX

LOS ANGELES — George Smith Partners has arranged $50 million in construction and renovation financing for a redevelopment project near Los Angeles International Airport. The 258,000-square-foot, 13-story office tower will be converted into a 129-key Hyatt House and a 272-key Hyatt Place Hotel in Los Angeles. The asset is situated on West Century Boulevard, one block away from LAX. The redeveloped Hyatt House and Hyatt Place Hotel will feature a mid-century-inspired urban design and rooms..

November 20, 2017

Berdan Holdings Buys FedEx Shipping Facility in Carlsbad, California, for $24.5M

CARLSBAD, CALIF. — Berdan Holdings has purchased a 109,807-square-foot FedEx shipping facility in Carlsbad for $24.5 million. The facility is located at 2495 Faraday Ave. The property was built in 1999. It is fully leased to FedEx on a net lease basis. Property features include 32-foot clear height, 10,900 square feet of office space, nine dock and nine grade-level doors. Ron Jacobson of SD Realty Partners represented Berdan Holdings, while Aric Starck of Cushman & Wakefield’s San..

November 20, 2017

Lincoln Property Co. to Break Ground on 901,700 SF Spec Industrial Center in Arizona

GOODYEAR, ARIZ. — Lincoln Property Co. has announced plans to break ground on Lincoln Logistics 40, a 901,700-square-foot spec industrial development in Goodyear, in December. The development will be the area’s first speculative industrial project to offer a 40’ clear ceiling heights. The project will be situated along Interstate 10 at Bullard Avenue on 50 acres within the Airport Gateway at Goodyear business park. Lincoln Logistics 40 will feature 169 dock and grade-level doors, 185..

November 20, 2017

Stoneridge Creek Nears Completion of 151-Unit Seniors Housing Expansion in Bay Area

PLEASANTON, CALIF. — Stoneridge Creek is preparing to open its 151-unit expansion at the seniors housing community in the Bay Area city of Pleasanton. The expansion includes 12 single-story homes, 56 garden homes and 83 apartments, as well as new amenities and common areas. Stoneridge Creek opened in 2013 on a 50-acre campus and currently houses more than 450 seniors. The CreekView health center is located adjacent to Stoneridge Creek, offering long-term care services.

November 20, 2017

HFF Brokers $5.1M Sale of Retail, Office Center in Broomfield, Colorado

BROOMFIELD, COLO. — HFF has arranged the $5.1 million sale of MainStreet at FlatIron, a 93,657-square-foot retail and office center in Broomfield. Jules Sherwood of HFF arranged the transaction on behalf of the undisclosed seller, and procured the buyer, a private investment group based in Boulder. MainStreet at FlatIron includes two multi-tenant buildings with 59,224 square feet of office space and 34,433 square feet of retail space. At the time of sale, the property was 56.3 percent..

November 20, 2017

Former LA Times Printing Plant Site in Costa Mesa Sells for $65M

COSTA MESA, CALIF. — A joint venture that includes SteelWave has acquired a 24-acre site that previously served as a Los Angeles Times printing plant in Costa Mesa for $65 million. The site is located at 1350 South Coast Drive. The 50-foot-tall steel frame building on the property was used by the Los Angeles Times and three of its community newspapers as a printing plant, distribution facility and office until it closed in 2010. The facility is known as The Press. Redevelopment plans..

November 17, 2017

JLL Negotiates $32.3M Sale of La Paz Plaza in Mission Viejo, California

MISSION VIEJO, CALIF. — JLL has brokered the sale of La Paz Plaza, a retail and medical office campus located in Mission Viejo in South Orange County. Combined Investments acquired the property from Newport Beach, Calif.-based Flinn West for $32.3 million. At the time of sale, the 51,766-square-foot property was 96 percent occupied. Matt Berres and G. Ryan Smith of JLL Capital Markets represented the seller.

November 17, 2017