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CaliforniaLeasing ActivityRestaurantRetailWestern

Five New Tenants Join The District at Tustin Legacy Retail Center in California

by Amy Works

TUSTIN, CALIF. — Five new tenants have signed leases to join The District at Tustin Legacy, a 1 million-square-foot retail center located in the Orange County city of Tustin. Jini Mini, Café 86 and The District Eatery have already opened at the property. Activate Games is scheduled to open in July, while French bakery Le Macaron is expected to open later this year. Additional tenants at the center include Whole Foods Market, Costco, Target, Lowe’s, Nothing Bundt Cakes, Ben & Jerry’s, The Winery Restaurant & Wine Bar and Pinot’s Palette.The District at Tustin Legacy is owned by a partnership between Kimco Realty Corp. and Vestar Development Co.

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AcquisitionsCaliforniaIndustrialWestern

CBRE Negotiates $13.1M Sale of Industrial Portfolio in Otay Mesa, California

by Amy Works

OTAY MESA, CALIF. — CBRE has negotiated the sale of an industrial portfolio in San Diego. Otay Condo LLC acquired the asset from an undisclosed seller for $13.1 million. Matt Harris and Matt Pourcho of CBRE represented the buyer in the deal. Totaling 54,636 square feet, the portfolio includes a 19,292-square-foot property at 8662 and 8580 Avenida de la Fuente and a 13,458-square-foot facility at 1641 Pacific Rim Court, as well as 10 industrial commercial condominiums ranging in size from 533 square feet to 3,714 square feet. All condos are under 5,000 square feet and most include grade-level doors and/or shared access to a dock well. Situated in South San Diego County, Calif., the portfolio offers easy access to Interstate 805 and State Route 905.

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AcquisitionsCaliforniaMixed-UseMultifamilyRetailWestern

Northmarq Brokers $12.7M Sale of The Charmer Mixed-Use Community in San Diego

by Amy Works

SAN DIEGO — Northmarq has arranged the sale of The Charmer, a mixed-use community in San Diego’s Mission Hills neighborhood. Charmer LLC sold the property to Monroe Capital Real Estate Fund for $12.7 million. Built in 2011, The Charmer features 19 apartments, two live-work lofts and three commercial units. The property offers top-of-the-line interiors, abundant outdoor space with private patios and gardens, as well as amenity spaces. Tyler Sinks, Ed Rosen and John Chu of Northmarq’s San Diego Multifamily Investment Sales team represented the seller in the deal.

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AcquisitionsCaliforniaIndustrialWestern

Marcus & Millichap Brokers Sale of 6,528 SF Industrial Property in Chino, California

by Amy Works

CHINO, CALIF. — Marcus & Millichap has arranged the sale of an industrial property located at 14251 Fern Ave. in Chino. An individual/personal trust sold the asset to an undisclosed owner-user for $2.5 million. Built in 2006, the 6,528-square-foot standalone property features an upgraded roof. Mir Ali, Drew Wetherholt and Kevin Struve of Marcus & Millichap represented the seller and procured the buyer in the deal.

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16345-Foothill-Blvd-Fontana-CA
AcquisitionsCaliforniaRetailWestern

Raceway Express Car Wash Buys 3,693 SF Foothill Express Car Wash in Fontana, California

by Amy Works

FONTANA, CALIF. — Raceway Express Car Wash has acquired Foothill Express Car Wash, located at 16345 Foothill Blvd. in Fontana, for an undisclosed price. Originally built in 2018 by the seller, the property features a 3,693-square-foot building with a 120-foot tunnel and 25 vacuum stations. Alex Kogan of Beta Agency represented the seller, while Adam Indihar of Pacific Investments represented the buyer in the deal.

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2829-2843-Hyperion-Ave-Los-Angeles-CA
AcquisitionsCaliforniaRetailWestern

Bolour Associates Acquires Retail Center in Los Angeles’ Silver Lake District for $6.5M

by Amy Works

LOS ANGELES — Bolour Associates has purchased a neighborhood retail center in the Silver Lake district of Los Angeles from an undisclosed seller for $6.5 million. Located at 2829-2843 Hyperion Ave., the value-add property offers 9,884 square feet of retail space. At the time of sale, the property was 50 percent leased to a mix of tenants, including Pinkberry, Standing Egg Coffee, Cats and Dogs and The Village Vet. Bolour plans to complete both exterior capital improvements and interior tenant improvements at the center. Oron Maher of Maher Commercial Realty represented the seller in the transaction.

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9421-Haven-Ave-Rancho-Cucamonga-CA
AcquisitionsCaliforniaOfficeWestern

CBRE Brokers $6.3M Sale of Office Building in Rancho Cucamonga, California

by Amy Works

RANCHO CUCAMONGA, CALIF. — CBRE has negotiated the sale of a two-story office building located at 9421 Haven Ave. in Rancho Cucamonga. A local owner-user acquired the asset from FJKC Investment LLC for $6.3 million. The 20,600-square-foot building was vacant at the time of sale. Sammy Cemo, Austin Reuland and Anthony DeLorenzo of CBRE represented the seller in the deal.

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3312-3314-3318-Burton-Ave-Burbank-CA
AcquisitionsCaliforniaIndustrialWestern

Dunleer Buys Two-Building Warehouse Property in Burbank, California for $5M

by Amy Works

BURBANK, CALIF. — Los Angeles-based Dunleer has purchased a two-building warehouse asset, located at 3312-3314 and 3318 Burton Ave. in Burbank, from a local family for $5 million, or $283 per square foot. Chad Gahr and David Young of NAI Capital represented the buyer, while Mike Maniscalchi of Systems Real Estate represented the seller. At the time of sale, the 17,726-square-foot property was 67 percent vacant. The asset features three units and is adjacent to the Hollywood Burbank Airport.

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CaliforniaLoansMultifamilyWestern

Stockbridge, Wilson Meany Receive $170M in Refinancing for Multifamily Portfolio in San Mateo, California

by Amy Works

SAN MATEO, CALIF. — Stockbridge and Wilson Meany have received a $170 million first mortgage for Bay Meadows Apartment Collection, a four-property portfolio in San Mateo. The 390-unit portfolio offers a mix of studio, one-, two- and three-bedroom units, averaging 1,035 square feet, and 9,961 square feet of ground-floor retail space. The portfolio includes the 108-unit Field House, built in 2015; the 70-unit Quimby, built in 2017; the 158-unit Russell, built in 2017; and the 54-unit Hawthorne, built in 2024. The portfolio is located within the 83-acre Bay Meadows master-planned community. Bruce Ganong, Chris Handy, Elijah Lax and Tomie Vegą of JLL Capital Market’s Debt Advisory team arranged the five-year, fixed-rate loan through New York Life Real Estate Investors for the borrower.

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AcquisitionsCaliforniaOfficeWestern

Formosa Acquires 310,000 SF Office Campus in Newport Beach, California

by Amy Works

NEWPORT BEACH, CALIF. — Formosa Ltd., a venture led by Joe C. Wren, has purchased 5000 Birch Street, a two-building office campus in Newport Beach. Terms of the transaction were not disclosed. Lincoln Property Co. was retained to provide property management and operations services for the 310,000-square-foot Class A asset, which is situated within the 160-acre master-planned Koll Center Newport. The property offers surface parking, a towel-served fitness center, an onsite restaurant and a conference and event space. Matt Didier and Jessie Tichelaar of CBRE will handle leasing for the office campus. Chet Cramin and Jacob Bedingfield of MusickPeeler served as legal counsel to Formosa and Wen during the transaction.

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