California

1741-N-Cherokee-Ave-Hollywood-CA

LOS ANGELES — Big Sunday, a nonprofit committed to helping others through service projects and giving opportunities, has purchased an office building located at 1741 N. Cherokee Ave. in the Hollywood neighborhood of Los Angeles. Los Angeles Beautification Team, a nonprofit dedicated to resource conversations and community improvement, sold the asset for $5.4 million. Big Sunday plans to use the 6,743-square-foot asset as its headquarters, with move-in scheduled for April. Gruen Associates designed the property, which opened in 2021. The building offers up to 18-foot clear heights with multiple offices and a large training room, as well as 7,000 square feet of landscaped outdoor green space. Nicole Mihalka and Cal Ross of JLL, along with the Kenny Stevens team at Compass, represented the seller in the deal.

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The-Star

LOS ANGELES— The Star LLC has submitted revised design plans for The Star, a proposed $1 billion office campus at 6061 W. Sunset Blvd. in the Hollywood neighborhood of Los Angeles. The development firm, led by local investor and developer Maggie Miracle, first submitted a proposal for the project in 2021 with renderings designed by Chinese architecture firm MAD Architects. The initial concept held a $500 million price tag. The original design was ultimately scrapped by Miracle to incorporate garden-like outdoor spaces, which she believes have become increasingly attractive to office tenants following the COVID-19 pandemic, according to reports by the Los Angeles Times.  Updated plans for the project, which doubles down on the initial investment price, were designed by Foster + Partners and include a 22-story, cylindrical tower with a spiral of external gardens rising from the street level. The development will offer spacious floor plates and floor-to-ceiling windows offering unobstructed views of downtown Los Angeles, the Hollywood Sign and Pacific Ocean. Each floor will feature a series of external shaded and landscaped social garden terraces designed by SALT Landscape Architects.  Plans for the project — which will target WELL and LEED certifications — also include a rooftop restaurant …

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Unchained-Labs-Pleasanton-CA.jpg

PLEASANTON, CALIF. — Ware Malcomb, serving as civil engineering, interior architecture and design-and-build measurement services, and Metcon, as general contractor, have completed a 120,000-square-foot tenant improvement project for Unchained Labs. Located at 4747 Willow Road in the Bay Area city of Pleasanton, the two-story building features 53,887 square feet of office space, 20,379 square feet of manufacturing space and 14,779 square feet of lab and warehouse space. The newly designed facility also includes an “all hands room;” a gym and locker area with specialty private shower areas; wet labs for life sciences research and development designed with a plug-and-play approach; a lab area with a clean room and humidity-controlled room facilities; electric vehicle charging stations; and loading docks. Unchained Labs develops new tools for biologics and gene therapy researchers.

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Portico-Oakland-CA

OAKLAND, CALIF. — Cityview has completed Portico, an apartment property located at 37 8th Ave. in Oakland’s Brooklyn Basin master-planned community. Portico features 378 studio, one-, two- and three-bedroom apartments, as well as townhomes. The units offer a Latch smart-home system that includes keyless entry and smart thermostats; stainless steel appliances; large closets; in-unit, full-size washers/dryers; luxury vinyl plank flooring; and kitchens with fully tiled backsplashes and quartz countertops. Community amenities include a rooftop sky lounge; resort-style pool and spa deck; and an outdoor courtyard featuring fireplaces, outdoor games and a community garden. The community’s indoor/outdoor fitness space features state-of-the-art equipment and a movement studio, while the clubhouse offers a community wine room, game room and leasing lobby lounge, as well as an outdoor pet spa and pet park. The community also offers managed Wi-Fi throughout the community, technology-enabled workspaces and 331 parking spaces for residents and guests. The project team includes James E. Roberts Obayashi, Webcor, AC Martin and Nadia Geller Designs.

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5665-Dennis-McCarthy-Dr-Lebec-CA

LEBEC, CALIF. — Dedeaux Properties and joint venture partner Basis Investment Group have completed the sale of a warehouse building, located at 5665 Dennis McCarthy Drive in Lebec, approximately 90 miles northwest of Los Angeles. An owner/user acquired the asset for $37.1 million, or $159 per square foot, in an off-market transaction. The buyer, a national clothing and textile distributor, will relocate its operations to the 233,217-square-foot building, which features 36-foot clear heights, 29 dock-high doors and parking for 90 trailers. The property is on 12.3 acres in Tejon Ranch Commerce Center, a 20-million-square-foot, master-planned development on Interstate 5.

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1993-1995-W-Olive-Ave-Merced-CA

MERCED, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sales of two newly constructed, adjacent, single-tenant retail properties in the San Joaquin Valley city of Merced. Two individual private buyers purchased the assets in separate transactions totaling $8.2 million. In both transactions, Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Glendale-based Chase Partners. A Los Angeles-based private investor acquired the first asset for $5.3 million. Constructed in 2023, the 4,088-square-foot convenience store and gas station is located at 1995 W. Olive Ave. 7-Eleven occupies the building under a new, corporate, 15-year, triple-net lease. Nicholas Borrelli of Coldwell Banker Commercial George Realty in Arcadia represented the buyer in the deal. A Los Angeles-based private investor purchased the second building for $2.9 million. Michael Mehdizadeh of Los Angeles represented the buyer in the deal. Located at 1993 W. Olive Ave., Starbucks occupies the 1,000-square-foot, drive-thru-only building under a new, corporate, 10-year, triple-net lease.

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Canyon-Industrial-Center-2-San-Diego-CA

SAN DIEGO — PGIM Real Estate has provided $51 million in floating-rate acquisition financing to BKM Capital Partners for the acquisition, renovation and leasing costs of Canyon Industrial Center in San Diego’s Kearny Mesa submarket. BKM previously announced its purchase of the multi-tenant, 198,728-square-foot, shallow-bay industrial asset, which spans 13 buildings.

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16981-Via-Tazon-11501-Rancho-Bernardo-Blvd-San-Diego-CA

SAN DIEGO — Montana Avenue Capital Partners has completed the disposition of a two-building R&D and laboratory portfolio, located at 16981 Via Tazon and 11501 Rancho Bernardo Blvd. in the Rancho Bernardo submarket of San Diego. Dollinger Properties acquired the asset for $30.8 million. The portfolio consists of two fully leased buildings offering a combined rentable area of 90,000 square feet. Bob Prendergast and Lynn LaChapelle of JLL Capital Markets, along with Tim Olson and Greg Moore of JLL, represented the seller and procured the buyer in the deal.

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659-W-Milgeo-Ave-Ripon-CA.jpg

RIPON, CALIF. — Marcus & Millichap has arranged the sale of 3.56 acres of land with freeway visibility in Ripon, east of the Bay Area and south of Sacramento. Adel Ammari sold the asset to SRB Properties LLC for $1 million. The buyer plans to develop the vacant land site, located at 659 W. Milgeo Ave., into a retail location. Andres Lopez, Adam Levin and Robert Johnston of Marcus & Millichap represented the seller and buyer in the transaction.

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14011-S-Normandie-Ave-Gardena-CA

GARDENA, CALIF. — Matthews Real Estate Investment Services has arranged the sale of an industrial property located at 14011 S. Normandie Ave. in Gardena. Classic Components acquired the vacant asset from California-based Marmon Properties for $10.7 million. Austin Borges and Alexander Harrold of Matthews handled the transaction. Classic Components, a leader in supply chain solutions, intends to use the 37,072-square-foot, single-tenant facility as its new corporate headquarters.

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