California

Steel Peak Sells Industrial Outdoor Storage Property in San Diego for $3.8M

by Amy Works April 23, 2025

SAN DIEGO — Steel Peak, a commercial real estate investment firm, has completed the sale of an industrial outdoor storage (IOS) property located at 6975 Camino Maquiladora in San Diego. RojoWood Lumber & Building Supply acquired the asset for $3.8 million. The property includes a functional industrial building with shop and office space, as well as a large excess yard for outdoor storage of vehicles, equipment and materials. The asset offers close proximity to Interstate 5 Freeway, 905 Freeway and the United States-Mexico border. Rob Hixson and James Hixson of CBRE represented the seller, while Rabin Salehi of CBRE represented the buyer in the transaction. Steel Peak originally purchased the property in December 2024 for $2.6 million and made significant improvements to the property. This sale is the company’s first exit out of its five-property portfolio of IOS facilities in the San Diego market.

April 23, 2025

Acquisitions California Industrial Western

NAI Capital Arranges $52.4M Sale of Industrial Facility in Carson, California

by Amy Works April 22, 2025

CARSON, CALIF. — NAI Capital Commercial has negotiated the purchase of a single-tenant industrial facility at 1055 Sandhill Ave. in Carson. Rexford Industrial sold the asset to Carson Warehouse Corp. for $52.4 million, or $410 per square foot. Ryan Campbell of NAI Capital Commercial represented the buyer, while Frank Schulz and David Prior of The Klabin Company represented the seller in the deal. Built in 2024, the 127,775-square-foot move-in ready building features 19 dock-high doors, 10 hydraulic pit levelers, a clear height of 32 feet, LEED Gold certification and 6,998 square feet of high-end, two-story office space. Additionally, the property offers ESFR sprinklers, heavy power and a 130-foot concrete truck court. The buyer plans to convert a significant portion of the facility into cold storage, including freezers and coolers to support its food distribution operations.

April 22, 2025

California Development Multifamily Seniors Housing Western

EAH Housing Reopens Rodeo Gateway Seniors Housing Community in Rodeo, California

by Amy Works April 22, 2025

RODEO, CALIF. — EAH Housing has reopened Rodeo Gateway, a seniors housing property in Rodeo, after implementing interior and exterior upgrades to residences and common spaces. Rodeo Gateway features 49 one-bedroom apartments for seniors aged 62 and older and a two-bedroom manager’s unit. Community amenities include a landscaped courtyard, tree-lined walkways, comfortable seating areas and resident amenities, including a sunroom, computer lab and fully equipped community kitchen. The rehabilitation included upgraded residences with new energy-efficient appliances, high-efficiency LED lighting, new flooring and updated kitchen and bathroom cabinetry, sinks and fixtures; enhanced ADA-compliant amenities, including roll-in showers and improved mobility features; and a newly designed community room with new furnishings, flooring, paint and window coverings. Additional enhancements include improved air circulation in common hallways and new security features, such as an updated entry call system with key fob access and a new Wi-Fi system.

April 22, 2025

24011-24031-Marquerite-Pkwy-Mission-Viejo-WA

Acquisitions California Retail Western

Hanley Investment, Walseth Investment Co. Broker $11.6M Sale of Shopping Center in Mission Viejo, California

by Amy Works April 22, 2025

MISSION VIEJO, CALIF. — Hanley Investment Group Real Estate Advisors and Walseth Investment Co. have negotiated the $11.6 million sale of a shopping center located at 24011-24031 Marguerite Parkway in Mission Viejo. Kevin Freeman, Bill Asher and Ed Hanley of Hanley Investment Group represented the seller, a Colorado-based private investment company, while Michael Walseth of Walseth Investment Co. represented the buyer, an Orange County, Calif.-based regional grocery store operator, in the transaction. Built in 1973 on 3.4 acres, the shopping center offers 51,312 square feet of retail space. Current tenants include A Cut Above, Little Caesars and Leslie’s Pool Supplies. The vacant, 37,118-square-foot Orchard Supply Hardware store comprises more than 72 percent of the center’s total square footage. The asset underwent a facade remodel in 2016.

April 22, 2025

California Industrial Loans Western

MMCC Secures $4.3M in Refinancing for Industrial Property in Vista, California

by Amy Works April 22, 2025

VISTA, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $4.3 million for the refinancing of an industrial building located at 2270 La Mirada Drive in Vista. Kevin Elliott of MMCC secured the financing with a local credit union for the undisclosed borrower. Terms of the 10-year loan include a 6.3 percent interest rate with a 30-year amortization period and a 60 percent loan-to-value. Beacon Building Products, a distributor of roofing, waterproofing and related exterior products in the United States and Canada, occupies the 4,800-square-foot facility.

April 22, 2025

Acquisitions California Multifamily Western

Presidio Bay Ventures, Artemis Real Estate Buy 121-Unit Olume Multifamily Building in San Francisco

by Amy Works April 21, 2025

SAN FRANCISCO — Presidio Bay Ventures, in partnership with Artemis Real Estate Partners, has acquired Olume, an apartment building located at 1401 Mission St. in San Francisco’s SoMa neighborhood, for $39.7 million. Matt Kroger, Ryan Wagner, Brandon Geraldo and Fatai Alashe of JLL brokered the transaction. The name of the seller was not released. Olume offers 121 studio, one- and two-bedroom apartments and was 95 percent occupied at the time of sale. Community amenities include a 360-degree view rooftop deck, residential lounge, coffee bar, pet park and electric vehicle charging stations. The Main Post will manage the property.

April 21, 2025

Acquisitions California Industrial Western

Sword Industrial Partners Purchases 121,816 SF Expo Centre Industrial Park in Sacramento

by Amy Works April 21, 2025

SACRAMENTO, CALIF. — Dallas-based Sword Industrial Partners has purchased Expo Centre, a seven-building industrial park in Sacramento, from BKM Capital Partners for an undisclosed price. Matt Susac and Todd Sanfillipo of CBRE have been retained as leasing agents for the park. Rebecca Perlmutter of CBRE represented the seller in the deal. Totaling 121,816 square feet, the industrial park offers small-bay suites ranging in size from 1,500 square feet to 6,600 square feet. The asset is located at 1767-1791 Tribute Road. Recent capital improvements at the asset include new roofs, paint, suite reconfigurations, signage and drought-tolerant landscaping. Sword Industrial Partners is actively pursuing multi-tenant, infill industrial assets in the Western United States. The newly formed MAG Capital Partners investment platform is helmed by Scott Word, managing partnering of Sword Industrial Partners.

April 21, 2025

Acquisitions California Office Western

NAI Capital Negotiates $7.4M Sale of Office Building in Arcadia, California

by Amy Works April 21, 2025

ARCADIA, CALIF. — NAI Capital Commercial has arranged the sale of a multi-tenant office building located at 225 E. Santa Clara St. in Arcadia. Los Angeles District Church of the Nazarene sold the property to an undisclosed buyer for $7.4 million, or $341 per square foot. At the time of sale, the 21,673-square-foot building was fully occupied and offers abundant parking. The buyer plans to eventually occupy a portion of the property. Marie Taylor of NAI Capital Commercial represented the seller in the deal.

April 21, 2025

California Development Multifamily Western

Legacy Partners, DWS Break Ground on 200-Unit Apartment Community in Torrance, California

by Amy Works April 18, 2025

TORRANCE, CALIF. — Legacy Partners, in partnership with DWS Group, has started construction of Soto, a 200-unit multifamily property in Torrance. Located at 3862 Carson St., Soto will offer studio, one- and two-bedroom layouts ranging from 633 square feet to 1,118 square feet. Soto will feature a rooftop pool and amenity deck with an indoor/outdoor fitness center, resident clubhouse, coworking area and two courtyards with pedestrian access from the street. The project team includes AO as designer and Westport Construction as general contractor. Completion is slated for summer 2027.

April 18, 2025

California Development Office Western

Allied Commercial Completes Conversion of Historic Los Angeles Post Office into Creative Campus

by Amy Works April 18, 2025

LOS ANGELES — Allied Commercial has completed the conversion and restoration of an historic 85-year-old post office located at 1601 Main St. in the Venice area of Los Angeles. The 23,690-square-foot creative campus now serves as a versatile event space with dedicated artist studios, collaborative workspace, production offices and facilities, a mixed-use theater, recording studio, podcast suites, a coffee shop and an outdoor garden. Additionally, the site serves as the headquarters of Lighthouse Creative Group. The Louis Simon-designed post office was built as part of President Franklin Roosevelt’s New Deal. Completed in 1939, the Mediterranean Revival-style property was also adorned with an interior mural, “Abbot Kinney and the Story of Venice” painted by Edward Biberman in 1941. The conversion and restoration project reinstalled the mural and completed interior and exterior renovations and upgrades following rehabilitation guidelines from the Secretary of the Interior’s Standards of Historic Properties. The project team included Chattel as historic preservation consultants, Pacific Edge as project manager, Both Design Architects as architect and JTM Construction Group as general contractor.

April 18, 2025

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