LOS ANGELES — Lee & Associates – LA North/Ventura has brokered the acquisition of an industrial property located at 10643 Glenoaks Blvd. in the Pacoima neighborhood of Los Angeles. Greater Los Angeles Vector Control District, a local government health entity, acquired the asset from Glenoaks Partners for $13.1 million. Chris McKenzie of Lee & Associates – LA North/Ventura represented the seller in the transaction. The asset features 38,063 square feet of industrial space with 13,086 square feet of office space and high-power capabilities.
BAKERSFIELD, NORTH HOLLYWOOD AND VENTURA, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $96 million loan refinancing for three shopping centers in Southern California. Tenants at the properties — which are located in Bakersfield, North Hollywood and Ventura — include 24 Hour Fitness, Dollar Tree, Starbucks Coffee, Wells Fargo and Tractor Supply. Zack Metzner, Daizy Gomez and Linsey Farrahi of MMCC secured the five-year financing on behalf of the borrower, a private investor. The interest-only loan carries a fixed interest rate of 5.8 percent.
SAN DIEGO — Biotest Inc. has purchased a research and development (R&D) facility, located at 10140 Mesa Rim in the Sorrento Mesa neighborhood of San Diego, for $23 million. The China-based life sciences company plans to use the 42,547-square-foot property for product development and distribution. Todd Holley of Voit Real Estate Services represented the buyer in the transaction. The name of the seller was not released.
VISALIA, CALIF.— Hanley Investment Group Real Estate Advisors has brokered the $3.4 million sale of a 2,000-square-foot, single-tenant property in Visalia, located in the San Joaquin Valley between Fresno and Bakersfield. Starbucks Coffee occupies the building, which was constructed on 0.6 acres in 2023 and features a double drive-thru. Sean Cox, Alexander Moore, Bill Asher and Kevin Fryman of Hanley represented the developer and seller, Stock Five Development, in the transaction. David Mouallem of D.M. Realty Inc. represented the buyer, a Los Angeles-based private investor.
WESTLAKE VILLAGE AND THOUSAND OAKS, CALIF. — FPA Multifamily has purchased a two-property apartment portfolio in Ventura County from a private multifamily investor for $153 million. The portfolio includes Oakview Apartment Homes, a 242-unit asset built in 1970 in Westlake Village, and The Biltmore at Thousand Oaks, a 167-unit property built in 1965 in Thousand Oaks. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and facilitated the buyer in the deal.
SAN DIEGO — BKM Capital Partners has purchased Canyon Industrial Center, a multi-tenant industrial park in San Diego’s Kearny Mesa submarket, for $70.2 million. Situated at 9424-9560 Chesapeake Drive, Canyon Industrial Center features 198,728 square feet of space spread across 13 buildings, with a 31 percent office component. Built in 1979, Canyon Industrial Center offers 49 units ranging in size form 552 square feet to 18,953 square feet with 14- to 20-foot clear heights, ample parking, 56 grade-level doors and seven dock-high doors. BKM plans to invest more than $1.7 million to bring the property from Class B to Class A status, including upgrades to its roofs, HVAC systems, parking lots, paint, signage and landscaping. The company also plans to demolish and re-tenant two large industrial units, totaling 32,000 square feet, into four small-bay suites averaging 8,000 square feet. At the time of sale, Canyon Industrial Center was 99 percent leased to 46 tenants. Jeff Cole, Jeff Chiate and Bryce Aberg of Cushman & Wakefield represented the seller, a global investment advisor, while BKM represented itself in the transaction.
VERNON, CALIF. — Privy, an apparel wholesaler, has acquired an industrial building located at 2640 E. 26th St. in Vernon. A private investment company sold the asset for $13.7 million. Privy plans to use the 40,129-square-foot property as its expanded headquarters. Anthony Bergeman, Michael Chase and Krishna Shegran of DAUM Commercial’s capital markets office in Costa Mesa represented the seller, while Steven Kim of One Commercial represented the buyer in the deal. Moon Lim and Ryan Judd of DAUM’s Los Angeles office also participated in the transaction.
ROSEVILLE, CALIF. — USA Properties Fund has started construction on Terracina at Westpark, an affordable multifamily community in Roseville, a suburb northeast of Sacramento. Located at 3440 Westbrook Blvd. and 1040 Lower Bank Drive, Terracina at Westpark will offer 284 one-, two- and three-bedroom apartments; a community room; courtyard area with play equipment; computer workstations; and almost 500 parking spaces. The community will feature 71 three-bedroom units, 97 one-bedroom units and 116 two-bedroom units. Terracina at Westpark’s apartments will be available to residents earning 30 to 70 percent of the area median income for Placer County, about $25,740 for a two-person household to $81,060 per year for a five-person household. WNC & Associates is the tax credit investor for the $119.2 million project. JPMorgan Chase & Co. is the construction and permanent lender on the project.
ONTARIO, CALIF. — 36th Street Partners has acquired a multi-tenant industrial property, located at 1804-1828 E. Elma Court in Ontario, from a private investor for $3.5 million. Built in 1982 on 1.3 acres in the Inland Empire region, the 17,360-square-foot property includes 13 units that are 100 percent occupied with tenants using the spaces for office and warehouse purposes. JW Capital is 36th Street’s equity partner on the deal. Brian Tressen of Martin Associates represented 36th Street Partners.
RIVERSIDE, CALIF. — SRS Real Estate Partners has expanded its Southern California presence with the addition of Nick Wirick as senior vice president and managing principal; Chris Beauchamp as vice president; Miranda Montgomery as senior associate; and Jessica Henderson as marketing and transaction coordinator. Based in Riverside, the team is part of SRS’ first Inland Empire office, located at 3390 University Ave. The Wirick team has completed more than $900 million in deal volume in recent years. The team focuses on tenant and owner services primarily in the Inland Empire. The team will work alongside Garrett Colburn and Terrison Quinn in SRS’ Newport Beach office.