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307-E-Carmel-St-San-Marcos-CA
AcquisitionsCaliforniaIndustrialLee & AssociatesMixed-UseOfficeRetailWestern

Lee & Associates Brokers Sale of 18,452 SF Mixed-Use Building in San Marcos, California

by Amy Works

SAN MARCOS, CALIF. — Lee & Associates has arranged the sale of a showroom and flex building located at 307 Carmel St. in San Marcos. Creative Carmel LLC, an owner-user, acquired the asset from 307 E Carmel LLC for $6 million. Situated on 1.8 acres, the 18,452-square-foot single-tenant building offers 40 percent showroom, 25 percent office and 35 percent warehouse space. Marko Dragovic, Isaac Little and Olivia Baffert of the Little Dragovic Team at Lee & Associates – North San Diego County represented the seller, while Russ Jabara and Shawn Espino of San Diego Commercial Realty represented the buyer in the deal.

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Armstrong-Industrial-Irvine-CA
CaliforniaIndustrialLoansWestern

PSRS Arranges $4.5M Refinancing for Industrial Property in Irvine, California

by Amy Works

IRVINE, CALIF. — PSRS has arranged $4.5 million in refinancing for Armstrong Industrial in Irvine. The fully occupied, 32,055-square-foot industrial property is located within the Irvine Business District. Michael Tanner and George Gianoukakis of PSRS secured the financing through one of PSRS’ correspondent life insurance companies. The nonrecourse loan features a five-year term and 30-year amortization.

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Levare-Apts-San-Jose-CA.jpg
AcquisitionsCaliforniaMultifamilyWestern

Federal Realty Investment Trust Divests of 108-Unit Levare Apartments in San Jose, California for $74M

by Amy Works

SAN JOSE, CALIF. — Federal Realty Investment Trust has completed the $74 million disposition of Levare, a Class A apartment building located within Santana Row in San Jose. The name of the buyer was not released. Delivered in 2011, Levare features 108 apartments that were 95 percent leased at the time of sale.

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Mercy-Medical-San-Diego-CA
CaliforniaHealthcareLoansWestern

PSRS Secures $10M Refinancing for Mercy Medical Office Building in San Diego

by Amy Works

SAN DIEGO — PSRS has arranged a $10 million loan for the refinancing of Mercy Medical, a medical office building in San Diego. Built in 1979 and renovated in 2017, the seven-story, multi-tenant building features 86,288 rentable square feet. James Mulvihill, Kevin Mulvihill and Alexander Santulis of PSRS secured a nonrecourse, interest-only loan with flexible prepayment terms through one of PSRS’ correspondent life insurance company lenders for the undisclosed borrower.

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Safeway-Centers-CA
CaliforniaDevelopmentRetailWestern

Nadel Architects Completes Two Retail Centers in Metro Sacramento

by Amy Works

ROSEVILLE AND ELK GROVE, CALIF. — Two new retail centers designed by Los Angeles-based Nadel Architects have opened in the metro Sacramento area. The properties are West Roseville Marketplace in Roseville and Laguna Reserve Marketplace in Elk Grove. West Roseville Marketplace totals 74,000 square feet and is anchored by a 55,592-square-foot Safeway store. Additional tenants at the center include McDonald’s, Starbucks Coffee, Bank of America and Mountain Mike’s Pizza. Laguna Reserve Marketplace, which comprises 57,000 square feet, is also anchored by Safeway.

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1045-Sansome-San-Francisco-CA
AcquisitionsCaliforniaOfficeWestern

Bridges Capital Buys 83,871 SF Office Building in San Francisco’s Jackson Square

by Amy Works

SAN FRANCISCO — Bridges Capital has acquired 1045 Sansome, an office property located in the Jackson Square submarket of San Francisco, for an undisclosed price. Kyle Kovac and Mike Taquino of CBRE represented the undisclosed seller in the deal. The four-story building offers 83,871 square feet of creative office space. The property was built in 1926 and has been substantially renovated with new windows, interior upgrades, a top-floor lounge and a roof deck. At the time of sale, the building was 64 percent leased to tenants in architecture, design and e-commerce industries.

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5-52-Business-Park-San-Diego-CA
AcquisitionsCaliforniaIndustrialWestern

Parallel Capital Buys Two Industrial Assets Totaling 300,000 SF in San Diego’s Sorrento Valley

by Amy Works

SAN DIEGO — Parallel Capital Partners has purchased two industrial properties — Rose Canyon Business Park and The 5 & 52 Business Park — in the Sorrento Valley district of San Diego in two separate transactions, representing an investment of more than $100 million across 300,000 square feet of industrial space. Acquired in April, Rose Canyon Business Park is a 15-building, multi-tenant industrial park totaling 234,000 square feet across two parcels spanning 38 acres. The project is currently 85 percent leased, with an average tenant size of 1,700 square feet. Parallel plans to invest more than $5 million in improvements, including landscaping, exterior upgrades, signage enhancements and a speculative suite program. Additionally, the firm plans to convert approximately 13,000 square feet of office space into additional industrial units. The asset is located at 4901-4907 Morena Blvd. Located at 5965 and 5975 Santa Fe St., the 5 & 52 Business Park offers 71,597 square feet of industrial space spread across two buildings on 4 acres. The property was fully vacant when Parallel acquired it in November 2024. The firm plans to rebrand the property as a multi-tenant industrial park. Renovations will include demising the project into smaller units, delivering move-in-ready speculative suites …

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AcquisitionsCaliforniaRetailWestern

CenterCal, DRA Advisors Acquire 300,000 SF Fig Garden Village Lifestyle Center in Fresno

by Amy Works

FRESNO, CALIF. — A partnership between CenterCal Properties and DRA Advisors has acquired Fig Garden Village, a 300,000-square-foot lifestyle center located in Fresno. Originally developed in 1956 as part of the historic Fig Garden residential area, the center serves as a retail anchor for the broader Central California market. Tenants at the property include Pottery Barn, Williams-Sonoma, Banana Republic, lululemon, Whole Foods Market, Anthropologie, Madewell and Paper Source. The center was previously owned by Brookfield Properties.

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Sun-Garden-Retail-Center-San-Jose-CA
CaliforniaLoansRetailWestern

Slatt Capital Arranges $19.7M Refinancing for Sun Garden Retail Center in San Jose, California

by Amy Works

SAN JOSE, CALIF. — Slatt Capital has arranged a $19.7 million loan for the refinancing of Sun Garden Retail Center, a 107,899-square-foot retail property located in San Jose. Slatt Capital secured the fixed-rate, 12-year loan through a life insurance company on behalf of the borrower. Walmart anchors Sun Garden Retail Center, which occupies the former site of the Sun Garden Packing Co., a legacy cannery connected to San Jose’s agricultural roots. Other tenants at the property include Big 5 Sporting Goods, Chipotle Mexican Grill, Starbucks Coffee, Chevron and Jack in the Box.

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Fernwood-Terrace-Apts-West-Covina-CA
AcquisitionsCaliforniaMultifamilyWestern

Marcus & Millichap Brokers $9.5M Sale of Fernwood Terrace Apartments in West Covina, California

by Amy Works

WEST COVINA, CALIF. — Marcus & Millichap has arranged the sale of Fernwood Terrace Apartments in West Covina. A private investor acquired the asset from Fernwood Terrace Apartments LLC for $9.5 million. Gordon Reese of Marcus & Millichap represented the seller, while Tyler Leeson and Drew Holden of Marcus & Millichap represented the buyer in the deal. Located at 712 S. Fernwood St., Fernwood Terrace Apartments features 30 studio, one-, two- and three-bedroom floor plans with 24 of the units fully renovated. The community offers a swimming pool, onsite laundry, controlled access and 43 parking spaces.

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