California

Vivion Leases 49,545 SF Regional Distribution Hub in Gardena, California

by Jeff Shaw May 18, 2023

GARDENA, CALIF. — Ingredients distributor Vivion has leased 49,545 square feet at 15500 S. Main Street, Building B in Gardena. Located in the South Bay region of Los Angeles County, the property will be used as Vivion’s regional distribution hub. A subsidiary of Operio Group, Vivion is an ingredients distributor that specializes in products for application in the solid dose, pharmaceutical, nutritional, food and beverage, cosmetics, personal care, agricultural and industrial markets. The company’s Gardena distribution hub will be 30,000 square feet larger than its current facility in Vernon. Vivion expects to occupy its new space in June 2023. Grant Huff of Transwestern represented Vivion in the transaction.

May 18, 2023

Acquisitions California Multifamily Western

Mogharebi Group Arranges $50.5M Sale of The Landing Apartments in Ontario, California

by Jeff Shaw May 17, 2023

ONTARIO, CALIF. — The Mogharebi Group has arranged the $50.5 million sale of The Landing Apartments, a 156-unit community in Ontario, 37 miles east of Los Angeles. Alex Mogharebi, Otto Ozen, and Bryan LaBar represented the seller, an Orange County-based family. A Los Angeles-based investor acquired the asset at less than a 4.5 percent cap rate. The Landing Apartments offers one- and two-bedroom floor plans, as well as amenities such as in-unit washers and dryers, a pool with a spa, a tennis court, carport parking and a community lake.

May 17, 2023

Acquisitions California Retail Western

RA Centers Acquires Meadows Village Retail Center in Temecula, California for $27.7M

by Jeff Shaw May 17, 2023

TEMECULA, CALIF. — CBRE has brokered the $27.7 million sale of Meadows Village Center, a 67,336-square-foot retail center located in Temecula. Barons Market anchors the center, which was 96 percent leased at the time of sale. Other tenants include Starbucks Coffee, Wells Fargo, Palomar Health, Subway, Crumbl Cookies, The UPS Store and Pacific Dental. The property also features a CVS/pharmacy, which was not included in the sale. Jimmy Slusher, Philip Voorhees and James Tyrrell of CBRE represented the seller, funds managed by affiliates of Fortress Investment Group LLC, in the transaction. RA Centers acquired the property in a 1031 exchange.

May 17, 2023

California Development Office Western

Worthe Completes 800,000 SF Warner Bros. Headquarters at Burbank Studios in California

by Jeff Shaw May 16, 2023

BURBANK, CALIF. — Worthe has completed construction of the 800,000-square-foot office project known as Second Century at Burbank Studios. It will serve as the headquarters for Warner Bros. The two LEED-certified office buildings are located on the southernmost portion of the Burbank Studios Lot in Burbank. Frank Gehry and his team at Gehry Partners designed the project. Worthe developed the asset alongside its construction company, Krismar Construction. Stockbridge Real Estate Fund partnered on the project. Second Century was named in anticipation of the upcoming 100-year anniversary of Warner Bros. The buildings will house about 4,500 Warner Bros. employees.

May 16, 2023

California Development Industrial Western

Kearny Real Estate, Dune Real Estate Partners Plan Harbor Logistics Center in Santa Ana, California

by Jeff Shaw May 16, 2023

SANTA ANA, CALIF. — Kearny Real Estate Company and Dune Real Estate Partners have announced plans to develop Harbor Logistics Center, a 163,000-square-foot industrial facility in Santa Ana. The new property will replace a recently renovated office campus. Construction is projected to begin in the first quarter of 2024. Kearny acquired the eight-acre office campus at 3130 and 3100 S. Harbor Blvd. in 2018. It hit the market a year later after Kearny completed a multi-million-dollar renovation and rebranded it as Elevate@Harbor. The office campus will be razed to accommodate the construction of the Harbor Logistics Center.

May 16, 2023

Acquisitions California Healthcare Office Western

CBRE Arranges $29M Sale of Medical Office Building in Long Beach, California

by Jeff Shaw May 16, 2023

LONG BEACH, CALIF. — A private buyer has purchased a 68,845-square-foot medical office building in Long Beach for $29 million. The four-story building is located at 701 E. 28th St., across the street from MemorialCare Long Beach Medical Center. The Children’s Clinic Family Health, a nonprofit 501(c)(3) health center, occupies about 27 percent of the building. There are 14 other tenants providing various clinical medical services, including general medicine, urgent care, obstetrics/gynecology, urology, neurology, on-site surgery and imaging. CBRE’s Michael Longo, Mark Shaffer, Todd Tydlaska and Sean Sullivan, Anthony Delorenzo represented the seller, Jamison Properties, in the transaction.

May 16, 2023

Acquisitions California Retail Western

CBRE Brokers $40M Sale of Coronado Plaza Retail Center in California

by Jeff Shaw May 15, 2023

CORONADO, CALIF. — CBRE has brokered the $40 million sale of Coronado Plaza, a 41,949-square-foot retail center in Coronado. Built in 1981, the three-story property is situated across from the Hotel Del Coronado. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE’s San Diego office represented the seller, an entity doing business as PREF Coronado Plaza LLC, in the transaction.

May 15, 2023

Acquisitions California Multifamily Western

79 Lotus Apts Buys Three-Property Multifamily Portfolio in San Bernardino, California for $12M

by Jeff Shaw May 15, 2023

SAN BERNARDINO, CALIF. — 79 Lotus Apts, LLC acquired a multifamily portfolio in San Bernardino’s South Pointe neighborhood for $12 million. San Bernardino is located 60 miles east of Los Angeles. The portfolio comprises 79 units across three properties, including: Lotus, a 19-unit property; Steel Park Manor, a 32-unit property; and Wier Park, a 28-unit property. Units come in one- and two-bedroom floorplans. CBRE’s Eric Chen represented both the buyer and the undisclosed sellers in the transaction.

May 15, 2023

Acquisitions California Retail Western

Progressive Arranges $6M Sale of South Sierra Plaza Shopping Center in Fontana, California

by Jeff Shaw May 15, 2023

FONTANA, CALIF. — Progressive Real Estate Partners has arranged the $6 million sale of South Sierra Plaza, a 17,250-square-foot strip retail center located in Fontana. Comprising 12 units, the property was 93 percent leased at the time of sale to tenants including a dentist, nail salon, Armed Forces career center, staffing agency, Japanese restaurant and Peruvian restaurant. Brad Umansky and Lance Mordachini of Progressive represented the seller, a private Los Angeles-based investor, in the transaction. Paul Galmarini and Albert Lopez, also of Progressive, handled leasing at the property prior to the sale. Cameron Diab of D & Z Properties represented the buyer, another Los Angeles-based private investor.

May 15, 2023

California Industrial Leasing Activity Western

Hyundai Dealerships Lease 3.1-Acre Transportation Facility in Costa Mesa, California

by Jeff Shaw May 15, 2023

COSTA MESA, CALIF. — A group of local Hyundai dealerships have leased a 3.1-acre industrial site in Costa Mesa. The facility includes a 12,588-square-foot truck and automotive maintenance facility and office building. The group, which includes Hyundai of Huntington Beach, Hyundai of Anaheim and Hyundai of Garden Grove, entered into a five-year agreement for the space. They will use the property as a reconditioning, repair and storage facility for their fleet of new and used vehicles. Jace Gan and Clyde Stauff of Colliers represented the space’s owner, BLT Enterprises.

May 15, 2023

Newer Posts

Older Posts