California

Belmont Village Tops Out 177-Unit Seniors Housing Community in San Ramon, California

by Amy Works October 16, 2023

SAN RAMON, CALIF. — Belmont Village Senior Living has completed vertical construction of Belmont Village San Ramon, its fifth seniors housing community in the Bay Area. The property is located within the Bishop Ranch master-planned community, which includes retail, dining and entertainment. Harrison Street Real Estate is the development partner, with Synovus Bank and Cadence Bank providing debt. Belmont Village San Ramon is a six-story, 175,320 square-foot senior living community that is scheduled to open in late 2024. With views of Mount Diablo and surrounding hills, Belmont Village San Ramon offers independent living, assisted living and memory care across 177 units in a variety of studio, one-bedroom and two-bedroom layouts.

October 16, 2023

California Industrial Loans Western

JLL Arranges $32.9M Loan for Single-Tenant Industrial Building in San Dimas, California

by Amy Works October 13, 2023

SAN DIMAS, CALIF. — JLL Capital Markets has secured $32.9 million in financing for 300 East Arrow Highway, a single-tenant property in San Dimas, approximately 25 miles east of Los Angeles. Greg Brown, Peter Thompson, Kyle White and Allie Black of JLL Capital Markets’ debt advisory team arranged the nonrecourse loan for the borrower, CapRock Partners. Western Pacific Storage Solutions, a leader in the engineering and manufacturing of industrial storage solutions, shelving systems and material handling, occupies the 165,070-square-foot facility. The company has occupied the space for its manufacturing operations since 2001. Built in 1972 and expanded in 1989, 300 East Arrow Highway features 15 dock-high doors and one ground-level door, a 130-foot secured truck court and multiple points of ingress/egress. Additionally, the property offers ample parking, 4000A/480V power and 21,000 square feet of two-story office space.

October 13, 2023

Acquisitions California Industrial Western

DAUM Commercial Negotiates Sale of 43,540 SF Warehouse Facility in Compton, California

by Amy Works October 13, 2023

COMPTON, CALIF. — DAUM Commercial Real Estate Services has arranged the sale of an industrial warehouse asset located at 1303 W. Walnut Parkway in Compton, just south of Los Angeles. A private investor acquired the property from an undisclosed seller for $16 million. Anthony Bergeman of DAUM Commercial represented the buyer, while Jeff Smart and Elizabeth Capati of Colliers represented the seller in the transaction. Situated on 1.8 acres, the 43,540-square-foot facility features two drive-in loading areas, six dock-high doors with ample turning radius for 53-foot truck loading, 93 parking spaces and a fenced yard. The new ownership plans to remove the excess mezzanine office space and implement extensive renovations to reduce and modernize the onsite office footprint.

October 13, 2023

Acquisitions California Healthcare Office Western

Harbor Associates Sells 47,850 SF Medical Office Building in Upland, California

by Amy Works October 13, 2023

UPLAND, CALIF. — Harbor Associates has completed the disposition of 400 Mountain Avenue, a medical office property in the Inland Empire city of Upland. A local medical user bought the asset for $8.8 million. The three-story building features 47,850 square feet of medical office space with highway access to Los Angeles and Orange County. Sammy Cemo, Anthony DeLorenzo, Austin Reuland, Bryan Johnson and Nick Williams of CBRE Investment Properties represented the seller in the deal.

October 13, 2023

Acquisitions California Office Western

Newmark Negotiates Sale of 129,789 SF Calabasas Courtyard Office Campus in California

by Amy Works October 12, 2023

CALABASAS, CALIF. — Newmark has negotiated the sale of Calabasas Courtyard, a three-building office campus in Calabasas, approximately 30 miles west of Los Angeles. AEW Capital Management sold the asset to Calabasas Courtyard LLC, a partnership between Brian Forster of Pacific Partners Commercial, Tony Principe of Westcord Commercial and private investor John Cataldo. The price was not disclosed. Located at 5000 Parkway Calabasas, the 129,789-square-foot campus was 68 percent leased at the time of sale. The buyer plans to upgrade and modernize the commons areas of the three buildings, as well as the individual suites. Kevin Shannon, Rob Hannan, Ken White, Laura Stumm, Michael Moll and Alex Beaton of Newmark represented the seller in the transaction.

October 12, 2023

California Development Multifamily Western

CIM Group Opens The Wilson Apartment Community in Santa Monica, California

by Amy Works October 12, 2023

SANTA MONICA, CALIF. — CIM Group has opened The Wilson, a multifamily property located at 2903 Lincoln Blvd. in Santa Monica’s Sunset Park neighborhood. The newly developed community features 47 studio, one-, two- and three-bedroom apartments with hardwood-style flooring, in-unit washers/dryers and private balconies. Community amenities include a courtyard with lounge and dining seating, and a rooftop deck with outdoor fire pits and barbecues. The Wilson also features 15,000 square feet of ground-floor retail space.

October 12, 2023

Acquisitions California Industrial Office Western

Positive Investments Divests of 122,000 SF Flex Building in Monrovia, California

by Amy Works October 12, 2023

MONROVIA, CALIF. — Positive Investments has completed the disposition of an office/industrial building, located at 222 E. Huntington Drive in Monrovia, a northeastern suburb of Los Angeles. An undisclosed buyer acquired the property for $25 million. Built in 1988 on 5.7 acres, the two-story, multi-tenant building features 122,000 square feet of office/flex space. The property features a two-story glass atrium entryway, newly remodeled lobby, landscaped grounds, electric car charging stations, ample parking and three roll-up loading doors. The buyer plans to occupy a portion of the asset. Andrew Berk of Avison Young represented the seller in the deal.

October 12, 2023

Acquisitions California Healthcare Office Western

Progressive Real Estate Brokers $4.4M Sale of DaVita Dialysis Location in Indio, California

by Amy Works October 12, 2023

INDIO, CALIF. — Progressive Real Estate Partners has arranged the sale of a single-tenant medical office property located at 82900 Avenue 42 in the Coachella Valley city of Indio. A Los Angeles-based private investor sold the asset to another Los Angeles-based private investor for $4.4 million in an 1031 exchange. Greg Bedell of Progressive Real Estate Partners represented the seller, while Abel Mehrabi and Karl Markarian of JohnHart Real Estate represented the buyer in the deal. DaVita Dialysis occupies the 14,000-square-foot facility under a corporate-backed, 10-year lease renewal through April 2033.

October 12, 2023

Acquisitions California Restaurant Retail Western

CBRE Arranges Sale of 8,915 SF Restaurant Building at Rancho Bernardo Town Center in San Diego

by Amy Works October 12, 2023

SAN DIEGO — CBRE has negotiated the sale of a freestanding restaurant property located at 16785 Bernardo Center in San Diego. Kim Family Trust sold the asset to a private buyer for $3.9 million. The new owners plan to open a restaurant, Sapphire Indian, in the 8,915-square-foot building. Built in 1987, the asset is within Rancho Bernardo Town Center. Reg Kobzi, Michael Peterson and Joel Wilson of CBRE represented the seller, while AGAS Real Estate represented the buyer in the transaction.

October 12, 2023

Acquisitions California Office Western

Easterly Government Properties Buys Office Building in Anaheim, California for $31.1M

by Amy Works October 11, 2023

ANAHEIM, CALIF. — Easterly Government Properties has acquired 1065 Link, a four-story office building within Link OC in Anaheim. A partnership between a global real estate investment, development and management firm and a global investment manager sold the asset for $31.1 million, or $327 per square foot. Originally constructed in 1991, 1065 Link features 95,371 square feet of institutional-grade office space. The property underwent interior and exterior renovations in 2020. Key building features include a newly renovated lobby and exterior common areas and over-standard parking. The State of California occupies the entire building. Jeffrey Cole, Nico Napolitano, Brad Brandenburg and Kristen Bogler of Cushman & Wakefield’s Capital Markets team in Southern California represented the seller in the transaction.

October 11, 2023

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