TULARE, CALIF. — Outrigger Industrial has completed Phase I of 99 Central Logistics Center in Tulare with the construction of a 544,077-square-foot building at 199 E. Paige Ave. At full build-out, the 160-acre business park will feature four buildings offering a total of 2.4 million square feet. The Phase I building includes a clear height of 36 feet, 56-foot by 50-foot column spacing, speculative offices and trailer parking. Additionally, the facility can accommodate a 550,000-square-foot expansion. 99 Central Logistics Center is Outrigger Industrial’s first development in California’s Central Valley region, which provides easy access to major highways, ports and airports.
California
Marcus & Millichap Brokers Sale of 60-Room Black Forest Lodge in Big Bear Lake, California
by Amy Works
BIG BEAR LAKE, CALIF. — Marcus & Millichap has arranged the sale of Black Forest Lodge, a hotel located at 41121 Big Bear Blvd. in Big Bear Lake. Terms of the transaction were not released. Christian Apt, Allan Miller, Chris Gomes and Skyler Cooper of the Miller-Gomes Hotel team at Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal. Mario Alvarez of Marcus & Millichap assisted with the transaction, while Tony Solomon of Marcus & Millichap served as the firm’s broker of record in California. Spanning 2.9 acres, Black Forest Lodge features 60 rooms, 2,300 square feet of retail space, a heated pool, spa, sports courts and RV parking. The property has been family-owned since 1976.
OCEANSIDE, CALIF. — Sudberry Properties has opened Luma at El Corazon, a 278-unit apartment community located at 3546 Village Commercial Drive in Oceanside’s El Corazon, a multi-phase development that is home to Frontwave Arena and approximately 400 acres of parks, open space and civic uses. Luma at El Corazon consists of 23 three-story buildings with a mix of 113 one-bedroom, 120 two-bedroom and 35 three-bedroom apartments. Ranging from 691 square feet to 1,440 square feet, each of the 11 floor plans includes an outdoor deck, balcony or patio, stainless steel appliances, quartz countertops, wood-style flooring and in-unit washers/dryers. Community amenities include a clubroom with a demonstration kitchen and adjoining covered patio, a conference room and an indoor/outdoor fitness center with cardio and weights, a pool and spa, a lounge area with ping-pong and facilities for outdoor dining and grilling. Additionally, the property offers an attached or detached garage for each unit, a package reception area, 24-hour emergency maintenance and electric vehicle chargers. The development team included Bassenian Lagoni, Hunsake & Associates, Wermers Construction, Schmidt Design Group and Design Tec.
SAN YSIDRO, CALIF. — Border Business Center LLC has completed the sale of a four-building industrial park at 464, 494 and 524 W. Calle Primera and 2325 Via Tercero in San Ysidro. Partners Capital Inc. acquired the asset for $15 million. Known as Border Commerce Center, the 69,530-square-foot park offers 51 suites, averaging 1,200 square feet in size. At the time of sale, the property was fully leased. Matt Harris and Matt Pourcho of CBRE represented the seller in the transaction.
Bascom Group, Oaktree Acquire 408-Unit Apartment Community in West Sacramento for $126M
by Amy Works
WEST SACRAMENTO, CALIF. — The Bascom Group, in partnership with funds managed by Oaktree Capital Management, has purchased The Strand, a multifamily property in West Sacramento, for $126 million, or $308,824 per unit. Built in 2021 by MBK Rental Living, The Strand features 408 junior one-bedroom, one-bedroom, two-bedroom and three-bedroom units. Community amenities include two pools and spas, indoor and outdoor fitness centers, a clubhouse, dog park and electric vehicle charging stations. Louis Friedel, Clay Akiwenze and Hank Workman of Berkadia arranged the debt financing for the acquisition. Luke Goodwin and Alex Porter of Walton Street Capital provided the acquisition loan. Berkadia’s investment sales team, led by Jason Parr and Scott MacDonald, represented the seller. Sares Regis will provide property management services.
SAN DIEGO — JLL Capital Markets has negotiated the sale of a 9.3-acre redevelopment site consisting of a 185,051-square-foot former department store in San Diego. A joint venture between Jofa Capital and BLT Enterprises acquired the asset from a private seller for an undisclosed price. Located at 1555 Camino De La Reina, the redevelopment site is adjacent to the Mission Valley Mall. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL Capital Markets Investment and Sales Advisory team represented the seller in the deal.
FAIRFIELD, CALIF. — CBRE has brokered the sale of Green Tech Plaza, a research-and-development facility and industrial site at 5253 Business Center Drive in Fairfield. Eastbourne Investments sold the asset to ATI Windows for $11.5 million. Built in 2000 as a call center, Green Tech Plaza offers 103,128 square feet of space, more than 721 parking stalls and over 40,000 square feet of solar panels. Additionally, the building is entitled for the addition of two docks and two grade-level doors. The new owners plan to use the property as a showroom, office and light manufacturing facility. Brooks Pedder, Tony Binswanger and Matt Post of CBRE represented the seller and buyer in the transaction.
Progressive Real Estate Brokers $5.2M Sale of Single-Tenant Retail Property in Colton, California
by Amy Works
COLTON, CALIF. — Progressive Real Estate Partners has brokered the $5.2 million sale of a single-tenant retail property located in Southern California’s Inland Empire occupied by a Mobil Gas Station. Victor Buendia of Progressive represented both the undisclosed seller and buyer, an Inland Empire-based private investor, in the transaction. The buyer plans to renovate the convenience store.
Premier Design + Build Group Breaks Ground on 285,719 SF Orange Logistics Center in California
by Amy Works
ORANGE, CALIF. — Premier Design + Building Group has broken ground on Orange Logistics Center, the firm’s first project for IDI Logistics in the Western region. Orange Logistics Center will feature two industrial facilities offering a total of 285,719 square feet. The 189,519-square-foot Building 1 will offer 10,000 square feet of office space, a clear height of 36 feet, 25 dock doors and 172 parking spaces. The 99,200-square-foot Building 2 will include a 10,000-square-foot office space, a clear height of 32 feet, 11 dock doors and 106 parking spaces. The facilities will include sustainable features such as a carbon reduction slab system and are designed to achieve LEED certification, with the potential for Silver status. The project team includes HPA Architecture, HSA & Associates, Thienes Engineering, General Underground Fire Protection, Guy Yocom Construction, Engineering Resources and Hunter Landscape. Lee & Associates is serving as the project’s real estate broker.
SAN DIEGO — JLL Capital Markets has arranged $46.5 million in construction financing for Stella Apartments, a multifamily development in San Diego. Aldon Cole, Bryan Clark and Bharat Madan of JLL Capital Markets’ Debt Advisory secured a three-year floating-rate loan through Buchanan Mortgage Holdings, an affiliate of Buchanan Street Partners, for the borrower, Murfey Cos. Located at 3104 El Cajon Blvd. in San Diego’s North Park neighborhood, the nine-story, 73,243-square-foot residential property will offer 149 studios, one- and two-bedroom units. Onsite amenities will include a rooftop terrace, community gym, large outdoor amenity space and lobby. Murfey Co., a vertically integrated developer, plans to begin construction this quarter with completion expected in second-quarter 2027.