BH Properties Buys 120,191 SF Blue Shield Office Campus in Monterey Park, California

MONTEREY PARK, CALIF. — BH Properties has acquired a 120,191-square-foot suburban commercial office campus in Monterey Park from Blue Shield of California in a $15 million sale/leaseback transaction.Andrew Harper, Will Poulsen, Matt McRoskey and Owen Muller of JLL marketed the property on behalf of Blue Shield.Situated on 7.9 acres, the asset features a 91,363-square-foot building and a 28,828-square-foot property, both of which serve as the headquarters of Blue Shield’s Promise …

May 18, 2022Acquisitions, California, Office, Western

Cushman & Wakefield Acquires Cresa Partners of Los Angeles

LOS ANGELES — Cushman & Wakefield has acquired Cresa Partners of Los Angeles Inc., whose operations comprise three Los Angeles County offices located in West Los Angeles, Woodland Hills and Westlake Village.Representing tenants, the Cresa team provides commercial real estate services to clients in diverse industries, including entertainment, technology, interactive entertainment, professional services, biotech and transportation. The team comprises 40 professionals, made up of tenant …

May 18, 2022Acquisitions, California, Company News, Western

Gantry Secures $130M Loan for Six-Property Trojan Storage Portfolio on the West Coast

CALIFORNIA, OREGON AND WASHINGTON — Gantry has arranged $130 million in permanent financing for a six-property, Trojan Storage-owned self-storage portfolio spread across California, Oregon and Washington. Totaling 600,000 square feet, the portfolio includes three newly completed, pre-stabilized facilities and three recently acquired facilities.Andy Bratt and Amit Tyagi of Gantry secured the financing for Trojan Storage. The loan features a 10-year term at a fixed rate and a significant …

May 17, 2022California, Industrial, Loans, Oregon, Self-Storage, Washington, Western

LA Office Market Struggles, but Tenants, Investors See Opportunity

By Jerry Holdner, Southern California Region Lead, Avison YoungThe Greater Los Angeles office sector is experiencing a fragmented and slow recovery post-pandemic as the fallout is being addressed in various ways by office tenants, investors and owners. The first quarter of 2022 ended with a 15.4 percent office vacancy rate, which was up from 15 percent at the end of 2021. It is also up from the previous high of 13.1 percent that was recorded in 2010. We started to see several companies …

May 17, 2022California, Market Reports, Office, Western, Western Market Reports

Pacific Castle Management Sells Waterman Grove Plaza in Elk Grove, California for $17.2M

ELK GROVE, CALIF. — Pacific Castle Management has completed the disposition of Waterman Grove Plaza, a retail strip center located at 9304-9332 Elk Grove Road in Elk Grove. CenterSquare Investment Management acquired the property for $17.2 million.Situated on 4.2 acres, Waterman Grove Plaza features 44,090 square feet of retail space. At the time of sale, the property was 89.2 percent occupied. Current tenants include Pets to Go, Panda Express, Jamba Juice, Mountain Mike’s Pizza, …

May 16, 2022Acquisitions, California, Retail, Western

RanchHarbor, Manhattan West Acquire 91,000 SF Industrial Infill Property in San Dimas, California

SAN DIMAS, CALIF. — Newport Beach-based RanchHarbor and Los Angeles-based Manhattan West have partnered to purchase a multi-tenant industrial warehouse property located at 221-299 Allen Ave. and 906-924 Cataract Ave. in San Dimas. Terms of the transaction were not released.Situated on five acres, the value-add asset includes four individual buildings encompassing 91,000 rentable square feet across 44 individual suites. At the time of sale, the property was 98 percent occupied.The …

May 16, 2022Acquisitions, California, Industrial, Western

Partnership Receives Recapitalization for 605,000 SF SouthBay Pavilion Shopping Center in Carson, California

CARSON, CALIF. — Eastern Real Estate, Rockpoint and Atlas Capital Group have partnered to recapitalize SouthBay Pavilion in Carson. IKEA, Target and JCPenney anchor the 605,000-square-foot regional shopping center. The amount of the recapitalization was not disclosed.SouthBay Pavilion is 13 miles south of downtown Los Angeles and near the ports of Los Angeles and Long Beach, as well as Los Angeles International Airport.This is the second venture between Eastern, Atlas and Rockpoint in …

May 16, 2022California, Loans, Retail, Western

Faris Lee Arranges $10.3M Sale of Shops at Crown Valley in Laguna Niguel, California

LAGUNA NIGUEL, CALIF. — Faris Lee Investments has brokered the $10.3 million sale of Shops at Crown Valley, a grocery- and pharmacy-anchored retail center in Laguna Niguel. A Los Angeles-based private family office sold the asset to a Riverside-based buyer.Located at 30262-30272 Crown Valley Parkway, Shops at Crown Valley features 23,315 square feet of retail space. Planet Fitness, Smart & Final, Rite Aid and The UPS Store are tenants at the fully occupied property.Sean Cox, Alex …

May 13, 2022Acquisitions, California, Retail, Western

Newmark Brokers Sale of Two-Property Retail Portfolio Near San Francisco

LAFAYETTE, CALIF. — An institutional investment group has acquired a two-property retail portfolio in Lafayette from an undisclosed private seller. Terms of the transaction were not released.The portfolio includes La Fiesta Square, a 3.9-acre open-air, convenience-oriented lifestyle center, and Lafayette Mercantile, a 56,614-square-foot mixed-use asset. La Fiesta Square features 74,295 square feet of retail space spread across five buildings. The three-story Lafayette Mercantile offers …

May 12, 2022Acquisitions, California, Retail, Western

JLL Funds $30.3M Refinancing for Nantucket Creek Active Adult Community in Los Angeles

LOS ANGELES — JLL Capital Markets has provided a $30.3 million loan to refinance Nantucket Creek, a 172-unit, garden-style, age-restricted apartment community in the Chatsworth neighborhood of Los Angeles.JLL worked on behalf of the borrower, Universe Holdings, to secure the 10-year, fixed-rate loan through Freddie Mac. JLL Real Estate Capital LLC will service the loan.Proceeds from the loan also provided a return of equity to Universe’s balance sheet, which the company plans to use …

May 12, 2022California, Loans, Multifamily, Seniors Housing, Western

BH Properties Buys 120,191 SF Blue Shield Office Campus in Monterey Park, California

Cushman & Wakefield Acquires Cresa Partners of Los Angeles

Gantry Secures $130M Loan for Six-Property Trojan Storage Portfolio on the West Coast

LA Office Market Struggles, but Tenants, Investors See Opportunity

Pacific Castle Management Sells Waterman Grove Plaza in Elk Grove, California for $17.2M

RanchHarbor, Manhattan West Acquire 91,000 SF Industrial Infill Property in San Dimas, California

Partnership Receives Recapitalization for 605,000 SF SouthBay Pavilion Shopping Center in Carson, California

Faris Lee Arranges $10.3M Sale of Shops at Crown Valley in Laguna Niguel, California

Newmark Brokers Sale of Two-Property Retail Portfolio Near San Francisco

JLL Funds $30.3M Refinancing for Nantucket Creek Active Adult Community in Los Angeles

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Finance Insight 2022

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Multifamily Investment to Expand into Secondary, Tertiary Markets in 2022

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