Saturday, June 21, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

California

CaliforniaIndustrialLeasing ActivityWestern

DrinkPAK Leases Two Buildings of Center at Needham Ranch Industrial Park in Santa Clarita, California

by Jeff Shaw

SANTA CLARITA, CALIF. — The Center at Needham Ranch, a 1.7 million-square-foot industrial park in Santa Clarita, has reached full occupancy.  Beverage manufacturer DrinkPAK has leased the last two buildings in the final phase of the development. This will expand the company’s footprint at the center to 965,000 square feet. Construction on the final phase will be completed by year-end 2023.  DrinkPAK will occupy the 107,522-square-foot Building 17 and the 85,802-square-foot Building 18 at the center. The company had previously pre-leased the entire 198,451-square-foot Building 14, following its leasing of 172,324 square feet of space in Building 2 in October 2020 and 400,095 square feet in Buildings 3 and 4 in April 2021.  The Center at Needham Ranch is a joint venture between Trammell Crow Co. and Clarion Partners. Patrick DuRoss, John DeGrinis and Jeff Abraham of Newmark represented DrinkPAK in the most recent lease. CBRE’s Craig Peters, Cameron Merrill and Doug Sonderegger are the center’s leasing agents.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaIndustrialTop StoriesWestern

Kearny Real Estate Sells Corona Lakeside Logistics Center in Inland Empire for $325M

by John Nelson

CORONA, CALIF. — Kearny Real Estate Co., a Los Angeles-based developer and investor, has sold Corona Lakeside Logistics Center, a five-building industrial park located in the Riverside County submarket of Inland Empire. The buyer, GLP Capital Partners, acquired the 730,000-square-foot development for $325 million. Michael Kendall, Richard Schwartz, Gian Bruno, Joey Reaume and Kenny Patricia of Colliers represented both parties in the transaction. The sales price represents the largest ground-lease ownership transfer in the history of the Inland Empire and one of the largest ever for Southern California, according to Colliers.   “The buyer recognized the intrinsic value of this development and is thrilled to be adding it to its growing portfolio of Class A properties,” says Kendall. “Kearny built a best-in-class industrial development at the Inland Empire bullseye that is the I-15/CA-91 interchange.” “This is a culmination of seven years in the making,” adds Schwartz. “It was an honor to work with the Kearny team through the development phase and witness its project come to fruition.” Kearny recently delivered the park nearly two years after breaking ground. The developer signed a 99-year ground lease at the 37-acre site in 2019 with a private family owner, a deal that was …

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaDevelopmentMultifamilySeniors HousingWestern

Spieker Breaks Ground on 486-Unit Wisteria at Warner Center CCRC in Woodland Hills, California

by Jeff Shaw

WOODLAND HILLS, CALIF. — Spieker Senior Development Partners has broken ground on Wisteria at Warner Center, a continuing care retirement community (CCRC) in Woodland Hills, approximately 25 miles northwest of Los Angeles.  The senior living community will rise six stories on 17 acres and offer 486 units. Residential options range from one-bedroom options to penthouses of close to 3,000 square feet.  Wisteria at Warner Center will offer a full continuum of care at the health center located adjacent to the community. Residents will have access to assisted living, memory care and long-term care in a skilled nursing center.  KTGY architects designed the project, which W.E. O’Neil Construction is building. Completion is scheduled for 2025.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaLoansRetailWestern

RA Centers Arranges $72M Refinancing for Western Retail Portfolio

by Jeff Shaw

NEWPORT BEACH, CALIF. — RA Centers has arranged $72 million for the refinancing of a portfolio comprising four shopping centers.  Located in Redlands, California, the first property, Orange Street Plaza, totals 155,000 square feet. Vons, Trader Joes, Office Depot and U.S. Bank anchor the center, which was 99 percent occupied at the time of financing.  The second property, Front Gate Plaza, is located in Lancaster, California, and comprises 150,000 square feet. Stater Brothers, Goodwill, Wells Fargo, McDonalds, Taco Bell and The Habit anchor the center, which was 90 percent occupied at the time of financing.  Pueblo Shopping Center in Pueblo, Colorado, was 90 percent occupied and is anchored by King Soopers, CATO, Dollar Tree, Dominos and Sally Beauty.  Essencia Medical Facility, VA Clinic, Harbor Freight, Hobby Lobby, JoAnn’s Fabrics, Planet Fitness, LongHorn Steakhouse, Gate City Bank and Perkins anchor the fourth property, Gateway Fashion Mall. Located in Bismarck, North Dakota, the center totals 385,000 square feet and was 85 percent occupied at the time of financing.  Raymond Arjmand of RA Centers secured the financing through JP Morgan with Logan Ahlers.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaMultifamilyWestern

Mogharebi Group Brokers $21.5M Sale of Loma Villas Apartments in San Bernardino, California

by Jeff Shaw

SAN BERNARDINO, CALIF. — The Mogharebi Group (TMG) has arranged the $21.5 million sale of Loma Villas, a newly constructed, 70-unit community in San Bernardino.  Loma Villas features a mix of studio, one- and two-bedroom floor plans that include enclosed patios or balconies. Amenities include a pool and spa, fitness center, dog park, and grilling and picnic areas.  TMG’s Alex Mogharebi, Otto Ozen and Bryan LaBar represented the seller, a regional owner and developer. The buyer is a Southern California-based private investor.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaIndustrialWestern

Sunland Nutrition Buys Industrial Building in Aliso Viejo, California for $14M

by Jeff Shaw

ALISO VIEJO, CALIF. — Sunland Nutrition has purchased a 40,792-square-foot industrial building in Aliso Viejo for $14 million. The nutritional ingredients distributor will use the building for its headquarters. The facility is located at 81-91 Columbia. It features 28-foot warehouse clear heights, two ground-level loading doors, two dock-high loading doors, large fenced yard, building-top signage and 4.25/1,000 parking ratio.  JLL’s Xavier Nolasco, Brian Thene, Steve Wagner and Cameron Driscoll represented the undisclosed seller. Steve Crane of Daum Commercial represented Sunland Nutrition. 

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaIndustrialLeasing ActivityRetailWestern

Grocery Chain Leases Distribution Center in Santa Fe Springs, California

by Jeff Shaw

SANTA FE SPRINGS, CALIF. — Asian and Hispanic e-grocer Weee! Inc. has leased space at Prologis Mid Counties Distribution Center in Santa Fe Springs. The new space at 13215 Cambridge St. will allow the company to expand from its existing cold storage facility in La Mirada. CBRE’s Ben Seybold and Rick McGeagh represented Prologis in the lease negotiations.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaDevelopmentMixed-UseMultifamilyRetailWestern

Watermarke Properties Buys City Centre Office-to-Apartment Conversion Project in Orange, California

by Jeff Shaw

ORANGE, CALIF. — Watermarke Properties has acquired City Centre I, a 6.8-acre multifamily redevelopment project, for $22.5 million.  The current property is a Class A, 150,161-square-foot office building suitable for multifamily or mixed-use conversion. Current zoning designations for the site allow for up to 60 units per acre. Primary use of the site’s ground floor is slated for retail.  Newmark’s Kevin Shannon, Paul Jones, Ken White, Chris Benton, Anthony Muhlstein and Brandon White represented the undisclosed seller.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaDevelopmentRetailWestern

Wood Investments to Convert Former Kmart into 80,000 SF Shopping Center in Big Bear Lake, California

by Jeff Shaw

BIG BEAR LAKE, CALIF. — Wood Investments Cos. has purchased a former Kmart building in Big Bear Lake, with plans to develop an 80,000-square-foot shopping center.  Upon completion, Big Bear Lake Shopping Center will be subdivided into three individual anchor suites. A 17,193-square-foot Grocery Outlet will anchor the property. Another retailer has signed a 23,228-square-foot lease at the property, and a third tenant is in negotiations to lease a 23,228-square-foot space.  Construction is scheduled to begin in the fourth quarter of this year, with the opening scheduled for March 2024.  Charley Simpson of Colliers International represented Wood in the purchase. Nick Wirick, Chris Beauchamp and Miranda Montgomery of Lee & Associates are handling leasing at the center.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaRetailWestern

Hanley Arranges $6.4M Sale of Planet Fitness-Occupied Property in Ventura, California

by Jeff Shaw

VENTURA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $6.4 million sale of a single-tenant property in Ventura.  Planet Fitness occupies the newly renovated, 24,600-square-foot building on a triple-net-lease basis.  Bill Asher, Jeff Lefko and Ed Hanley of Hanley represented the seller, an affiliate of MJL Capital Partners. Brian Hughes of M&M Thrift Management Co. represented the buyer, a Ventura-based private investor. 

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts