MONTEREY, CALIF. — The Bascom Group has purchased the 76-unit Casanova Grove Apartments in Monterey for $16.7 million. The community is located at 930 Casanova Ave. Casanova Grove is less than two miles from the Pacific Ocean with the Pacific Coast Highway just a mile away. The group plans to implement a renovation plan, which will include amenity upgrades, exterior redesigns and interior renovations. Anthony Lugo represented Bascom, while Erich Pryor and Thomas Sherlock of Talonvest..
SANTA MONICA, CALIF. — MDC Realty Advisors has purchased a 23,551-square-foot creative office building in Santa Monica for $30.5 million. The Class A building is located at 1315 Lincoln Blvd. The property is fully leased. It features units with individual patio areas, parking and a first-floor gym. The seller was JOSS Realty Partners.
LOS ANGELES — Universe Holdings has acquired the 52-unit Nob Hill Towers apartment complex in Los Angeles for $12.6 million. The community is located at 2430 Ocean View Ave. Nob Hill was built in 1929. Universe Holdings will upgrade the interiors with new flooring, appliances, counters, cabinets and other improvements. Exterior renovations will include new lighting, paint and enhanced common areas and landscaping. The basement will be converted to a business center and fitness..
WEST JORDAN, UTAH — Walker Tape has expanded its industrial footprint in the Salt Lake City suburb of West Jordan. The provider of tape and adhesive for hair replacement systems recently completed a 33,232-square-foot facility at 9312 S. Prosperity Road. The new building will allow the firm to nearly double its square footage. The space also includes 4,000 square feet of Class A office space. The former Walker Tape Building was sold to Multi-Fill, a manufacturer of filling equipment for..
CERRITOS, CALIF. — Bergen Logistics has subleased 179,518 square feet of industrial space in Cerritos. The firm plans to use the space for ecommerce fulfillment. The new facility is located at 16016–16030 Arthur St. JLL's Zac Sakowski and Jordan Quinn represented Bergen in the transaction.
IRVINE, CALIF. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has agreed to acquire a 49 percent equity interest in entities that collectively own 183 seniors housing communities, all of which are operated by Enlivant. The transaction values the portfolio at $1.62 billion and Sabra’s investment at $371 million. Enlivant is owned by funds managed by private equity firm TPG, which will remain the 51 percent majority owner. Sabra noted, however, that it plans to eventually move toward full..
BAKERSFIELD, CALIF. — Wonderful Real Estate has commenced construction on Wonderful Industrial Park, a 1 million-square-foot industrial building northwest of Bakersfield. The 1.6-acre spec asset is located at 4100 Express Ave. in Shafter. The building will feature 300-foot truck courts, 700 trailer parking stalls, 183 dock-high doors, eight-inch slab designed to meet multi-level e-commerce uses, and a high-speed fiber optics network. Notable tenants in the area include Target, Ross..
SAN DIEGO — The Irvine Company has purchased Township 14, a 127,000-square-foot office project in the San Diego submarket of Del Mar Heights, for an undisclosed sum. The two-building asset is situated near Del Mar Highlands Town Center, Highway 56 and Interstates 5 and 805. Township 14 opened on six acres in the 1980s as Del Mar Corporate Plaza. It underwent significant redevelopment in 2014. It was renamed after the plot of land first established in the 1880s that later became known as..
LOS ANGELES — The Luzzatto Company has broken ground on Expo Station, an 80,000-square-foot creative office development in West Los Angeles. The transit-oriented development is located at 12414 Exposition Blvd. near the Metro Expo line’s Expo/Bundy station in Silicon Beach. Expo Station will have three levels of creative office space above a two-level parking structure. The building’s contemporary design will feature a concrete, wood and glass façade, angled roof line and more than..
PHOENIX — CapRock Partners has purchased a 110,710-square-foot manufacturing facility in Phoenix for $8 million. The building is situated on 5.8 acres just east of Phoenix Sky Harbor International Airport. The asset features 30-foot clear height, 22 dock-high loading doors and two 20-foot-wide, grade-level doors. Plans are underway to transition the property to Class A space by upgrading the interior and exterior. Stein Koss and Tom Louer of Lee & Associates represented both the..