Wednesday, July 23, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

California

CaliforniaDevelopmentIndustrialWestern

Wonderful Real Estate Breaks Ground on 1.1 MSF Spec Industrial Development in Shafter, California

by Jeff Shaw

SHAFTER, CALIF. — Wonderful Real Estate has broken ground on a 1.1 million-square-foot speculative development at the Wonderful Industrial Park (WIP) in Shafter.  The facility will be located at 5401 Express Ave. It will be the fifth speculative development delivered by WRE over the past five years.   WRE has developed and leased more than 1.3 million square feet at Wonderful Industrial Park in 2022. This includes a 1 million-square-foot spec project that was leased by a Fortune 500 food manufacturer and a 309,000-square-foot building leased by existing tenant GAF, the nation’s largest manufacturer of roofing and waterproofing products.  WRE is also in the final stages of design on a 415,000-square-foot speculative building in the park that is scheduled for delivery in the first half of 2024.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaLoansMultifamilyWestern

Dwight Mortgage Trust Provides $36.3M Refinancing for Villa Annette Apartments in Moreno Valley, California

by Jeff Shaw

MORENO VALLEY, CALIF. — Dwight Mortgage Trust has provided a $36.3 million bridge loan to refinance Villa Annette Apartments in Moreno Valley, a city in the Inland Empire region of California, about 64 miles east of Los Angeles.  Latco Enterprises owns the 220-unit property, which is newly built and currently in lease-up. Proceeds from the bridge loan will be used to pay off existing construction debt.  Villa Annette sits on 11 acres and comprises 14 two- and three-story buildings that offer a mix of one-, two- and three-bedroom floor plans. Amenities include a clubhouse, pool, spa, business center, fitness center and a picnic and grilling area.  The owner plans to obtain a HUD 223(f) loan for permanent financing once the asset is stabilized.  Ari Mandelbaum originated the transaction for Dwight.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaNet LeaseRetailWestern

Hanley Arranges $2.4M Sale of Single-Tenant Retail Property in El Centro, California

by Jeff Shaw

EL CENTRO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $2.4 million sale of a single-tenant retail property located in El Centro, approximately midway between San Diego and Phoenix.  7-Eleven occupies the 2,940-square-foot building on a 15-year, triple-net ground lease.  Bill Asher and Jeff Lefko of Hanley represented the seller, Imperial Retail Investments LLC, in the transaction. A self-represented, California-based private investor purchased the property.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaIndustrialLoansWestern

Clarion Partners Provides Financing for 600,000 SF Industrial Property in Riverside, California

by Jeff Shaw

RIVERSIDE, CALIF. — Clarion Partners has provided a has provided a mezzanine loan that’s part of the acquisition financing package collateralized by an industrial building in Riverside.  An affiliate of Societe Generale arranged the $10 million mezzanine loan subordinate to a $70 million senior loan.  The Class A, 600,000-square-foot facility is fully leased and serves as the headquarters for a third-party logistics provider.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaOfficeWestern

Premier Workspaces Takes Over 24,200 SF Co-Working Space in Irvine, California

by Jeff Shaw

IRVINE, CALIF. — Premier Workspaces has taken over a co-working location at 100 Spectrum Center Drive in the Irvine Spectrum area.  Formerly a Carr Workplaces, this 24,200-square-foot location offers ninth-floor views, 87 private offices, three serviced meeting rooms, an on-demand office and a common area lounge with on-site hospitality staff.  This latest transaction expands Premier Workspace’s footprint in Irvine to more than 233,000 square feet across 10 locations.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaHospitalityWestern

Cyrus & Emilia Investments Buys Lincoln Hotel in Downtown San Diego for $2.5M

by Jeff Shaw

SAN DIEGO – Cyrus and Emilia Investments has acquired the Lincoln Hotel in downtown San Diego for $2.5 million. The hotel is located at 534-536 5th Ave. in the Gaslamp Quarter.  The four-story building totals 14,503 square feet. El Cabron Restaurant occupies the ground floor, and 41 affordable housing units comprise the upper floors.  Lincoln Hotel Partnership sold the property with representation by Bill Shrader of UPG. The buyer plans to renovate the affordable housing component of the property.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaCompany NewsRetailWestern

Nordstrom to Close Two Stores in San Francisco

by Jeff Shaw

SAN FRANCISCO — Nordstrom Inc. will close two stores located near San Francisco’s downtown, reports the Washington Street Journal.  Located on Market Street, the first store will close Jul. 1, with the Westfield San Francisco Centre mall location scheduled to close at the end of August.  “We can better serve our customers there by focusing on our 16 nearby Nordstrom and Nordstrom Rack locations, as well as online,” says a representative for the company.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaDevelopmentLeasing ActivityRetailWestern

Nordstrom Rack to Open Five New Stores in California

by John Nelson

SEATTLE — Nordstrom Inc. has announced plans to open five new Nordstrom Rack stores in California. Scheduled to open in 2024 and 2025, the stores will be located in Davis, Elk Grove, Gilroy, Oceanside and San Mateo. Both the Davis and Gilroy stores will comprise 25,000 square feet, with the Oceanside and San Mateo stores totaling 31,000 and 36,000 square feet, respectively. Each of the stores will be situated within shopping centers, with the new locations bringing the total count of Nordstrom Rack stores to 68.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaDevelopmentSeniors HousingWestern

Clearwater Living to Open 101-Unit Seniors Housing Community in Newport Beach, California

by John Nelson

NEWPORT BEACH, CALIF. — Clearwater Living has opened an information center at Clearwater Newport Beach, a 101-unit luxury assisted living and memory care community underway in Newport Beach, a coastal city south of Los Angeles. Clearwater expects to welcome new residents in early 2024. Clearwater Newport Beach will offer 70 assisted living and 31 memory care apartments in a variety of finishes and floor plans, including studio, one- and two-bedroom options. Clearwater Newport Beach will be the company’s 11th community in California, Nevada and Arizona, with additional developments in the pipeline.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaIndustrialWestern

Partners Capital Purchases Five-Building Industrial Portfolio in Carson, California

by John Nelson

CARSON, CALIF. — Partners Capital has purchased a five-building industrial portfolio in Carson, a city 17 miles south of Los Angeles. The portfolio contains five buildings for a total of 38,152 square feet. Known as Carson Business Park, the asset is located on a two-acre site at 401 to 409 Gardena Blvd. The park was fully leased at the time of sale to 16 unique tenants with a weighted average lease term of about 0.8 years. In-place rents are about 61 percent below market rates. Scott Schumacher, Aaron Banks, Kevin Shannon, Andrew Briner and Anthony Muhlstein of Newmark represented the seller, an entity doing business as Carson Five LLC, in the transaction. The seller and sales price were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts