Friday, May 9, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

California

Vallejo-Self-Storage-Vallejo-CA
AcquisitionsCaliforniaIndustrialSelf-StorageWestern

Joint Venture Buys 1,435-Unit Self-Storage Portfolio in San Francisco Bay Market for $44.2M

by Amy Works

VALLEJO AND SONOMA, CALIF. — Harvest Properties, in joint venture with New York Life Real Estate Investors (NYLREI), has acquired two self-storage facilities in Vallejo and Sonoma in separate transactions totaling $44.2 million. In total, the properties offer 1,435 self-storage units. The joint venture has engaged Extra Space to manage both properties. The partnership purchased Best Self Storage, an 80,000-square-foot drive-up facility with 516 units at 155 Fremont Drive and Mafei Road in Sonoma, and Vallejo Self Storage, a 76,000-square-foot property with 919 climate-controlled units at 384 Fairgrounds Drive in Vallejo. The JLL Storage Capital Markets team represented the seller in the Vallejo Self Storage transaction.

Continue Reading
FacebookTwitterLinkedinEmail
28218-28230-Constellation-Rd-Valencia-CA
AcquisitionsCaliforniaIndustrialWestern

CBRE Negotiates $13.6M Sale of Industrial Building in Valencia, California

by Amy Works

VALENCIA, CALIF. — CBRE has negotiated the sale of an industrial property located at 28218-28230 Constellation Road in Valencia. Watercress Holdings acquired the asset from 28230 Constellation LLC for $13.6 million. At the time of sale, approximately 23,000 square feet of the 60,474-square-foot building was vacant, while the remaining space is occupied by long-term tenants SCP Pool and Scooter’s Jungle. Watercress Holdings plans to make significant investments in the property, including upgrades to the exterior, roof, common areas and a complete remodel of the vacant unit. Sam Glendon of CBRE represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
3541-3535-Big-Dalton-Ave-Baldwin-Park-CA
AcquisitionsCaliforniaMultifamilyWestern

Big Dalton Acquires 24-Unit Multifamily Community in Baldwin Park, California

by Amy Works

BALDWIN PARK, CALIF. — Big Dalton LLC has acquired a 24-unit apartment property located at 3541-3545 Big Dalton Ave. in Baldwin Park from HP Big Dalton for $6.3 million. Eric Chen and Justino Fa’aola of CBRE represented the buyer and seller in the deal. The community offers two-bedroom floor plans, with 50 percent of the units designed as single-story bungalows. Units feature quartz countertops, vinyl and carpeted flooring, wall-mounted AC units, select kitchen appliances, in-unit washer and dryer and private or shared patios.

Continue Reading
FacebookTwitterLinkedinEmail
4320-W-1st-St-201-S-Mountain-View-St-Santa-Ana-CA
AcquisitionsCaliforniaIndustrialWestern

Storm Properties Buys Industrial Outdoor Storage Property in Santa Ana, California for $5.9M

by Amy Works

SANTA ANA, CALIF. — Storm Properties, a subsidiary of Torrance, Calif.-based Storm Industries, has acquired an industrial outdoor storage (IOS) property in Santa Ana from an undisclosed seller for $5.9 million. Located at 4320 W. 1st St. and 201 S. Mountain View St., the 2.5-acre site features an 11,300-square-foot industrial building and a large and fully fenced concrete yard. The building offers 800 amps of 120/208 volt power, ground-level loading, 16-foot ceiling clearance, as well as infrastructure for food-related operations, such as a walk-in closet and freezer and two commercial ice-making towers. Storm Properties has retained Scott Read of Newmark to market the currently vacant facility for lease.

Continue Reading
FacebookTwitterLinkedinEmail
The-AJ-Sacramento-CA
CaliforniaDevelopmentMultifamilyWestern

USA Properties Fund Opens $130M Multifamily Community at The Railyards in Sacramento

by Amy Works

SACRAMENTO, CALIF. — USA Properties Fund, in partnership with LDK Ventures, has completed The A.J., a $130 million mixed-income apartment property within The Railyards in Sacramento. The apartment community is named after A.J. Stevens, a community leader and legendary Southern Pacific master mechanic who worked in The Railyards in the 1870s and 1880s. Stevens oversaw the building of Southern Pacific’s locomotives and retail cars in The Railyards. Today, The Railyards is an infill development that will include live entertainment, shops and restaurants, as well as a Kaiser Permanente medical center and a new soccer stadium for Sacramento Republic FC. Located at 251 6th St., The A.J. features 345 apartments, including 69 affordable homes for residents earning 50 percent or less of the area median income, with stainless steel appliances, quartz countertops, two-tone cabinets, ceiling fans, rainfall showerheads and walk-in closets. Ground-floor apartments feature stained concrete floors while units on the other four floors will feature carpet and wood-plank floors. Apartments will also feature smart-lock access, smart thermostats and the ability to check on deliveries and visitors from screens in the units. Community amenities include a 24/7 fitness center; a sky lounge with a rooftop observation deck with fire tables, gas …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaHealthcareWestern

JLL Negotiates Sale of 18,869 SF Medical Facility in Fresno, California

by Kristin Harlow

FRESNO, CALIF. — JLL Capital Markets has negotiated the sale of WelbeHealth-Fresno Center, an 18,869-square-foot PACE medical facility in Fresno. PACE stands for Program of All-Inclusive Care for the Elderly. Originally built in 1975, the property was renovated in 2020. The fully leased facility is part of the PACE program, providing comprehensive medical and social services to elderly individuals who are eligible for nursing home-level care but wish to continue living in their own homes. Services at WelbeHealth-Fresno Center include medical care, coordination, prescriptions, in-home care, dental, vision, hearing, transportation, physical and occupational therapy as well as social activities and meals. Matt Dicesare and Jeff Cicurel of JLL represented the seller, Turner Impact Capital’s Turner Healthcare Facilities Fund, and procured the buyer, Corum Asset Management.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaNew YorkNortheastRetailTop StoriesWestern

3G Capital Agrees to Acquire Skechers for $9.4B, Take Company Private

by Kristin Harlow

MANHATTAN BEACH, CALIF. AND NEW YORK CITY — Global investment firm 3G Capital has entered into an agreement to acquire footwear retailer Skechers USA Inc. (NYSE: SKX). The sales price is $9.4 billion, according to The Wall Street Journal. Upon completion of the transaction, Skechers will become a privately held company. New York City-based private equity firm 3G will pay $63 per share in cash, representing a premium of 30 percent to Skechers’ 15-day, volume-weighted average stock price. The transaction also includes the option for existing shareholders of Skechers to instead receive $57 in cash and one unlisted, non-transferrable equity unit in the newly formed company. Founded more than 30 years ago in Manhattan Beach, Calif., Skechers maintains $9 billion in annual sales and is the third largest footwear company in the world. There are more than 5,300 Skechers retail stores worldwide that sell clothing, shoes and accessories at affordable prices. Skechers says the new private company will continue to execute its ongoing strategic initiatives, including the design of innovative products, international development, direct-to-consumer expansion, domestic wholesale growth and strategic investments in global distribution, infrastructure and technology. The Skechers board of directors unanimously approved the sale. Skechers will continue to be …

Continue Reading
FacebookTwitterLinkedinEmail
Raintree-Treehouse-Apts-San-Diego-CA
CaliforniaDevelopmentMultifamilyWestern

Raintree Partners Invests $225M in Development of Three Multifamily Properties in San Diego Market

by Amy Works

SAN DIEGO AND ENCINITAS, CALIF. — Raintree Partners is investing more than $225 million in the San Diego housing market with the development of three Class A multifamily communities. Totaling 498 units, the properties include Treehouse and Flora + Fauna in San Diego’s Bankers Hill neighborhood and Dos Lunas in Encinitas. Currently under construction, the eight-story, 115,453-square-foot Treehouse is located at 2525 1st Ave. in San Diego’s Bankers Hill district. The 107-unit community will feature studio, one- and two-bedroom floor plans, a fitness center and sauna, a Zen spa deck and a roof deck with outdoor dining and lounge space with ocean and bay views and an herb garden adjacent to an outdoor kitchen/garden zone. The asset is slated for completion in November. BDE is serving as architect and ECON Construction is serving as contractor. Flora + Fauna, located at 411 Ivy St. in San Diego’s Bankers Hill, will encompass 115,453 square feet spread across two buildings featuring six levels. The property will offer a sauna, spa and cold plunge, a coworking lounge and a roof deck with ocean and city views. Slated for completion in mid-2026, the community will offer 189 studio, one-, and two-bedroom floor plans, as well as …

Continue Reading
FacebookTwitterLinkedinEmail
Juanita-Tate-Marketplace-Los-Angeles-CA
CaliforniaLoansRestaurantRetailWestern

JLL Arranges $21.5M in Refinancing for Juanita Tate Marketplace in Los Angeles

by Amy Works

LOS ANGELES — JLL Capital Markets has arranged $21.5 million in refinancing for Juanita Tate Marketplace, a grocery-anchored retail center in Los Angeles. Optimus Properties received the five-year loan through institutional investors advised by J.P. Morgan Asset Management. Alex Olson and Daniel Skerrett of JLL Capital Market’s Debt Advisory represented the borrower in financing. Located at the corner of East Slaunson and East Central avenues, Juanita Tate Marketplace offers 77,096 square feet of retail space, 55 percent of which is occupied by Northgate Market. CVS, Panda Express, Starbucks Coffee and Chase Bank are tenants at the fully occupied retail center, which was built in 2014.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaIndustrialMarket ReportsWesternWestern Market Reports

Los Angeles’ Industrial Market Offers Users Compelling Opportunities

by John Nelson

— By Patrick Barnes of Avison Young —  The Los Angeles industrial property market has experienced increasing space availability and shifting tenant priorities over the past several quarters. Due to concerns about potential labor strikes at East and Gulf Coast ports, the anticipated surge in short-term sublease demand failed to materialize in the fourth quarter of 2024. Additionally, with a labor contract agreement reached in January, any lingering expectations that rerouted shipments would continue to bolster West Coast activity have largely dissipated. Despite a 21.7 percent year-over-year increase in TEU (twenty-foot equivalent unit) volume from 2023 to 2024, sublease availability has risen significantly as TEU tenants have either warehouse capacity or shipments leaving the region by rail. Companies today are reassessing their space needs, focusing on cost savings and operational optimization rather than expansion to deal with inflation and tariffs. Sublease space increased by 12.8 percent quarter over quarter, reaching 11.2 million square feet and pushing the overall availability rate to 9.3 percent.  These changes have also led to a drop in industrial rental rates. After peaking at $1.97 per square foot in 2023, average rents have fallen 26.4 percent to $1.45 per square foot in fourth-quarter 2024. However, Class …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts