California

KeyBank Provides $92.9M in Financing for Affordable Housing Development in Los Angeles

by Amy Works October 2, 2026

LOS ANGELES — KeyBank Community Development Lending and Investment (CDLI) has provided $92.9 million in financing for Broadway & Imperial, a new affordable housing development in South Los Angeles. The financing package includes a $43.8 million construction loan and an $18.1 million federal Low-Income Housing Tax Credit (LIHTC) equity investment from KeyBank CDLI. Key Commercial Mortgage Group arranged a $31 million Fannie Mae permanent loan, and KeyBanc Capital Markets underwrote a $31 million public bond issuance as part of the financing structure. Developed by SoLa Impact, Broadway & Imperial will feature 164 affordable apartments and two manager units that will be housed within four- and five-story buildings. Residents will have access to a range of amenities, including a lobby, rooftop deck, community room and three landscaped courtyards. Supportive services will be provided onsite by LifeSTEPS and will include educational, financial literacy, health and wellness and counseling services. Additionally, residents will have access to programs offered by the SoLa Foundation, including opportunities available through the SoLa Tech & Entrepreneurship Center Powered by Riot Games. Matthew Haas and Eileen Tran of KeyBank CDLI, along with Shana Daby of Key Commercial Mortgage Group, arranged the financing. Alex Stekler of KeyBanc Capital Markets marketed …

October 2, 2026

Acquisitions California Retail Western

DPI Retail Sells Main Street Marketplace in El Cajon, California for $17.5M

by Amy Works October 2, 2026

EL CAJON, CALIF. — DPI Retail has sold Main Street Marketplace, a grocery-anchored shopping center in El Cajon, located in San Diego County, for $17.5 million. The buyer, an entity doing business as First Corner LLC, is the owner of Manolo Farmers Market, which has anchored the property since 1988. Enrique Wong of Marcus & Millichap, along with Tom Lagos, Patrick Toomey and Jose Carrazana of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller in the deal. Built in 1979 at 1045-1099 E. Main St., Main Street Marketplace offers 75,328 square feet of retail space. Other tenants includes Bellus Academy, D C Cleaners, Fresh Up Barber Shop, Total Vision El Cajon, Boost Mobile, Freeway Insurance and El Cajon Eco Laundry. At the time of sale, Main Street Marketplace was 94.7 percent occupied, with dd’s Discounts accounting for two-thirds of the gross leasable area.

October 2, 2026

Acquisitions California Industrial Western

DAUM Commercial Negotiates Sale of 29,932 SF Industrial Warehouse in Santa Ana, California

by Amy Works October 2, 2026

SANTA ANA, CALIF. — DAUM Commercial Real Estate Services has negotiated the off-market sale of an industrial warehouse facility in Santa Ana. Mike Barreiro, Devin Ray, Zack Homsy, David Freitag, Ben Andrews and Sam Andrews of DAUM represented the seller and procured the buyer, a global retailer and e-commerce wholesaler of currency collectibles and numismatic supplies, in the deal. Located at 3102 W. Adams St., the freestanding buildings features 29,932 square feet of manufacturing and distribution space on 1.6 acres zoned M-1 (light industrial). The property includes 3,000 square feet of office space, 20-foot clear heights, four truck-high loading positions, two ground-level loading doors and 45 parking spaces.

October 2, 2026

California Features Restaurant Retail Western Western Feature Archive

The Great Cap Rate Puzzle: Rethinking How Net Lease Real Estate Responds to Interest Rates

by John Nelson October 1, 2026

By Jeff Lefko of Hanley Investment Group Real Estate Advisors For much of the last few decades, commercial real estate investors have operated under a simple assumption: interest rates rise, and cap rates rise with them. It is a straightforward relationship: intuitive, widely accepted and deeply embedded in underwriting models and investment committee discussions across the industry. Yet in the net lease sector, the connection between interest rates and cap rates has been far less direct than many believe. Since early 2022, the Federal Reserve has increased short‑term rates by more than 500 basis points, the fastest tightening cycle in four decades. Longer‑term borrowing costs remain elevated compared to the ultra-low-rate era of 2020 and 2021, even after the Fed’s rate cuts through 2025. Conventional thinking suggests net lease cap rates should have expanded sharply. Instead, cap rates across much of the single-tenant and multi-tenant net lease market have risen only modestly relative to the scale of the rate increases. There has been movement in certain segments, particularly in secondary markets, shorter lease terms and lower credit tenants, but the broader market has moved far less than the headline rate increases alone would suggest. This raises an important question for …

October 1, 2026

23126-23170-Valencia-Blvd-Santa-Clarita-CA

Acquisitions California Retail Western

SRS Real Estate Brokers $27.5M Sale of Value-Add Retail Property in Santa Clarita, California

by Amy Works September 30, 2026

SANTA CLARITA, CALIF. — SRS Real Estate Partners has arranged the sale of a value-add retail property located at 23126-23170 Valencia Blvd. in Santa Clarita. A Los Angeles-based investor sold the asset to Glendale, Calif.-based Avant Real Estate for $27.5 million. Situated on 12.6 acres, the shopping center totals 120,559 square feet and was formerly a Kmart-anchored retail center. At the time of sale, the asset was 80 percent leased. The new ownership plans to fully renovate the shopping center, maintaining its retail use while upgrading the property and enhancing its overall appearance. Carlos Lopez, Terrison Quinn and Tony Vuona of SRS Capital Markets represented the seller, while Ed Matevosian of CBRE represented the buyer in the deal.

September 30, 2026

Acquisitions California Retail Western

Sterling Organization Buys 69,622 SF Pavilions Marketplace in West Hollywood

by Amy Works September 30, 2026

WEST HOLLYWOOD, CALIF. — West Palm Beach, Fla.-based Sterling Organization, on behalf of its institutional value-add fund Sterling Value Add Partners, has acquired the 69,622-square-foot Pavilions Marketplace in West Hollywood. Terms of the transaction were not released. Pavilions Marketplace is currently 89 percent leased and anchored by a 54,087-square-foot Pavilions grocery store. Additional tenants include Chase Bank, Insomnia Cookies and Nothing Bundt Cakes. The property is situated on 3.4 acres at the intersection of Santa Monica and North Robertson boulevards.

September 30, 2026

Acquisitions California Retail Western

Faris Lee Investments Brokers $38.7M Sale of Two-Tenant Retail Property in Lakewood, California

by Amy Works September 29, 2026

LAKEWOOD, CALIF. — Faris Lee Investments has arranged the sale of a two-tenant retail property within Lakewood Center in Lakewood. A consortium of multiple owners sold the asset for $38.7 million to a high-net-worth family office. Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments represented the seller and buyer in the deal. Totaling 154,997 square feet on 14.7 acres, the property includes The Home Depot and Albertsons. The two tenants occupy their respective parcels under absolute below-market ground leases, with both operating at the location for more than 30 years.

September 29, 2026

Acquisitions California Retail Western

Marcus & Millichap Arranges $7M Sale of Retail Center in San Jose, California

by Amy Works September 29, 2026

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of Capital Commercial Center, a retail property in San Jose. A partnership sold the asset to a California-based limited liability company for $7 million, or $485.19 per square foot. Steve Sauter of Marcus & Millichap represented the seller, while Bryan DiMesio and Scott Ferguson of Marcus & Millichap represented the buyer in the transaction. Located at 175 S. Capitol Ave., Capital Commercial Center features 14,479 square feet of retail space. Built in 1988 on a 1.1-acre parcel, the property is fully leased to nine tenants under triple-net leases with an average occupancy tenure of more than 11 years. The buyer plans to maintain the property and benefit from contractual rent increases.

September 29, 2026

Acquisitions California Multifamily Student Housing Western

LaSalle Acquires 482-Bed Student Housing Community Near San Jose State University

by Amy Works September 28, 2026

SAN JOSE, CALIF. — LaSalle Investment Management has acquired 27 North Apartments, a 482-bed student housing community located near the San Jose State University campus. The seven-story property offers 119 units in a mix of two-, three- and four-bedroom configurations. The community was fully occupied at the time of sale. The Dinerstein Cos. has been tapped to operate the property, which was built in 2016. The seller and terms of the transaction were not released.

September 28, 2026

Acquisitions California Industrial Office Retail Western

JLL Arranges Sale, Financing of 200,049 SF Shallow-Bay Business Park in Walnut, California

by Amy Works September 28, 2026

WALNUT, CALIF. — JLL Capital Markets has brokered the sale of Walnut Tech Business Center, a shallow-bay business park in Walnut. AEW sold the asset to CIP Real Estate II LLC for $60.6 million. Totaling 200,049 square feet, Walnut Tech Business Center features 11 buildings with 109 individual suites across industrial, flex office and retail designations that are 94 percent leased. Patrick Nally, Evan Moran, Chad Solomon, Shae Vomund and Lauren O’Neill of JLL represented the seller in the deal. Additionally, JLL’s Kevin Mackenzie, Peter Thompson, Kyle White and Colter Smith arranged $42.9 million in acquisition financing for the buyer.

September 28, 2026

Newer Posts

Older Posts