Wednesday, July 23, 2025
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AcquisitionsCaliforniaMultifamilyWestern

JLL Brokers $53.6M Sale of Six Multifamily Communities in Los Angeles County

by Jeff Shaw

LOS ANGELES — JLL Capital Markets has arranged three separate transactions for the sale of six assets in Los Angeles County totaling $53.6 million.  Five properties are located in the San Fernando Valley and one is in West Los Angeles. JLL worked on behalf of the seller, a corporate fiduciary acting on behalf of an LLC.  The identity of the three buyers was not disclosed. All three buyers assumed existing debt on the assets.  Peter Yorck and Nick Lavin led the JLL Capital Markets investment sales and advisory team representing the seller, while Jeff Sause and Max Mraz led the JLL Capital Markets debt advisory team.  The properties are 3596 Centinela, 14311-14319 Dickens St., 12314 Moorpark, 4144 Tujunga, 12207 Riverside and 12225 Riverside.

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AcquisitionsCaliforniaOfficeWestern

Naked Wardrobe Acquires 90,371 SF Office Property Calabasas, California for New Headquarters

by Jeff Shaw

CALABASAS, CALIF. — Naked Wardrobe has purchased a 90,371-square-foot office property in Calabasas for its new headquarters.  The building is located at 26541 Agoura Road. The affordable luxury clothing brand will expand from its previous location in nearby Northridge. CBRE’s Mark Perry, Michael Slater, Tom Dwyer, Caroline Bigelow  and Carlene O’Neil, along with Scott Murphy, asset manager for Ella Valley Investments, represented the sellers, Edgemark Littleton and the Murray S. Pepper Trust. ZMax Realty represented the buyer.

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AcquisitionsCaliforniaRetailWestern

Hanley Negotiates $1.9M Sale of Dutch Bros. Coffee-Leased Property in Beaumont, California

by Jeff Shaw

BEAUMONT, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the $1.9 million sale of a newly constructed, single-tenant building located in Beaumont.  A Dutch Bros. Coffee drive-thru occupies the 920-square-foot property on a 15-year, triple-net ground lease.  Bill Asher and Jeff Lefko represented the seller and developer, Evergreen Development. Trevor Harris of Triwell Properties Inc. represented the buyer, a California-based private investor.

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AcquisitionsCaliforniaOfficeWestern

NAI Capital Brokers $3.5M Sale of Lakeview Professional Plaza in Yorba Linda, California

by Jeff Shaw

YORBA LINDA, CALIF. — A California-based private investor has acquired Lakeview Professional Plaza, an 11,761-square-foot, multi-tenant office building in Yorba Linda, for $3.5 million.  The building is located at 4848 Lakeview Ave. It was built in 1975. The office is currently leased to an insurance company and a law firm on long-term leases.  Steven Ehrich of NAI Capital Commercial’s Investment Services Group represented both the buyer and seller in the transaction.

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CaliforniaDevelopmentLife SciencesWestern

New Stanford Research Park Office Building in Palo Alto Receives Approval

by Jeff Shaw

PALO ALTO, CALIF. — A 52,000-square-foot building that will be added to Stanford Research Park in Palo Alto has received approval from the city.  The building is one of the first of its size in Silicon Valley to be designed and approved for sustainable mass-timber construction. The building will be almost entirely made of wooden and glass construction.  Form4 Architecture designed the project.

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Affordable HousingCaliforniaDevelopmentMultifamilyWestern

Affirmed Housing Breaks Ground on 96-Unit Estrella Affordable Development in San Marcos, California

by Jeff Shaw

SAN MARCOS, CALIF. — Affirmed Housing has started construction of Estrella, an affordable housing development in the northern San Diego suburb of San Marcos.  Affirmed Housing’s partners on the project include the City of San Marcos, the County of San Diego, WNC, Banner Bank, DAHLIN Group Architecture Planning, Masson and Associates and form/work Landscape Architecture. A development timeline for the project was not disclosed.  Estrella will feature 96 one-, two- and three-bedroom units across four buildings for households earning between 30 and 80 percent of the area median income. The community will offer shared laundry facilities; complimentary on-site services such as computer training and resume building resources; a kitchenette; computer room; barbecue area; electric vehicle charging stations; and bicycle parking. Four playgrounds and a recreation area for teenagers will also be on the property.

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AcquisitionsCaliforniaRetailWestern

Wood Investments Sells 4,000 SF Retail Building in Beaumont, California for $3.2M

by Jeff Shaw

BEAUMONT, CALIF. — Wood Investments Cos. has sold a 4,000-square-foot, single-tenant retail pad building in the Inland Empire city of Beaumont.  The company recently developed the property, which Sherwin Williams occupies on a net-lease basis.  Lee Csenar and Ed Hanley of Hanley Investment Group Real Estate Advisors represented the seller in the $3.2 million transaction. Howard Rosenthal and Guy Excell of Rosenthal & Excell Commercial Real Estate represented the Hemet-based buyer.  The retail pad is located adjacent to San Gorgonio Village, a 78,000-square-foot shopping center that Wood Investments developed and owns.

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CaliforniaIndustrialLeasing ActivityWestern

DrinkPAK Leases Two Buildings of Center at Needham Ranch Industrial Park in Santa Clarita, California

by Jeff Shaw

SANTA CLARITA, CALIF. — The Center at Needham Ranch, a 1.7 million-square-foot industrial park in Santa Clarita, has reached full occupancy.  Beverage manufacturer DrinkPAK has leased the last two buildings in the final phase of the development. This will expand the company’s footprint at the center to 965,000 square feet. Construction on the final phase will be completed by year-end 2023.  DrinkPAK will occupy the 107,522-square-foot Building 17 and the 85,802-square-foot Building 18 at the center. The company had previously pre-leased the entire 198,451-square-foot Building 14, following its leasing of 172,324 square feet of space in Building 2 in October 2020 and 400,095 square feet in Buildings 3 and 4 in April 2021.  The Center at Needham Ranch is a joint venture between Trammell Crow Co. and Clarion Partners. Patrick DuRoss, John DeGrinis and Jeff Abraham of Newmark represented DrinkPAK in the most recent lease. CBRE’s Craig Peters, Cameron Merrill and Doug Sonderegger are the center’s leasing agents.

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AcquisitionsCaliforniaIndustrialTop StoriesWestern

Kearny Real Estate Sells Corona Lakeside Logistics Center in Inland Empire for $325M

by John Nelson

CORONA, CALIF. — Kearny Real Estate Co., a Los Angeles-based developer and investor, has sold Corona Lakeside Logistics Center, a five-building industrial park located in the Riverside County submarket of Inland Empire. The buyer, GLP Capital Partners, acquired the 730,000-square-foot development for $325 million. Michael Kendall, Richard Schwartz, Gian Bruno, Joey Reaume and Kenny Patricia of Colliers represented both parties in the transaction. The sales price represents the largest ground-lease ownership transfer in the history of the Inland Empire and one of the largest ever for Southern California, according to Colliers.   “The buyer recognized the intrinsic value of this development and is thrilled to be adding it to its growing portfolio of Class A properties,” says Kendall. “Kearny built a best-in-class industrial development at the Inland Empire bullseye that is the I-15/CA-91 interchange.” “This is a culmination of seven years in the making,” adds Schwartz. “It was an honor to work with the Kearny team through the development phase and witness its project come to fruition.” Kearny recently delivered the park nearly two years after breaking ground. The developer signed a 99-year ground lease at the 37-acre site in 2019 with a private family owner, a deal that was …

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CaliforniaDevelopmentMultifamilySeniors HousingWestern

Spieker Breaks Ground on 486-Unit Wisteria at Warner Center CCRC in Woodland Hills, California

by Jeff Shaw

WOODLAND HILLS, CALIF. — Spieker Senior Development Partners has broken ground on Wisteria at Warner Center, a continuing care retirement community (CCRC) in Woodland Hills, approximately 25 miles northwest of Los Angeles.  The senior living community will rise six stories on 17 acres and offer 486 units. Residential options range from one-bedroom options to penthouses of close to 3,000 square feet.  Wisteria at Warner Center will offer a full continuum of care at the health center located adjacent to the community. Residents will have access to assisted living, memory care and long-term care in a skilled nursing center.  KTGY architects designed the project, which W.E. O’Neil Construction is building. Completion is scheduled for 2025.

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