California

NAI Capital Brokers $9.8M Sale of Industrial Building in Los Angeles

by Amy Works February 25, 2025

LOS ANGELES — NAI Capital Commercial has arranged the sale of an industrial property located at 13030 Raymer St. in the North Hollywood neighborhood of Los Angeles. Tiptop Restoration acquired the asset from 13030 Raymer LLC for $9.8 million. Tiptop will use the 30,000-square-foot property as its corporate headquarters, as well as warehouse, storage and distribution space. Built in 1996, the property underwent significant renovations in 2022. Renovations included remodeled office space, kitchen and restrooms, new paint and upgraded LED warehouse lighting. The asset offers dock-high and ground-level loading, 1,200 amps of power, a 17-foot warehouse clearance height, fire sprinklers and a fenced rear yard. Chad Gahr and David Young of NAI Capital Commercial represented the seller, while Daniel O’Neil and Parker Jones of Rancho Realty Group Corp. represented the buyer in the off-market transaction.

February 25, 2025

California Loans Multifamily Western

Marcus & Millichap Arranges $3.8M in Financing for Multifamily Complex in Santa Clara, California

by Amy Works February 25, 2025

SANTA CLARA, CALIF. — Marcus & Millichap has secured $3.8 million in financing for the purchase of a 20-unit apartment property located at 1577 Pomeroy Ave. in Santa Clara. David Campbell of Marcus & Millichap’s Palo Alto, Calif., office arranged the financing with a Western-based bank on behalf of a private client. Terms of the 30-year loan include a 6 percent interest rate with 30-year amortization and a 60 percent loan-to-value ratio.

February 25, 2025

Irvine-High-School-Performing-Arts-Center-Irvine-CA

California Civic Development Western

C.W. Driver Cos. Completes $35M Irvine High School Performing Arts Center in California

by Amy Works February 24, 2025

IRVINE, CALIF. — C.W. Driver Cos. has completed Irvine High School Performing Arts Center, a facility designed to inspire creativity and support the performing arts. The $35 million, 25,000-square-foot complex opened to the community in early February. The state-of-the-art venue features a 650-seat main theater equipped with advanced sound, lighting and rigging systems, providing students and the community with a professional-grade performance experience. Additionally, the center includes a Black Box theater, scene shop, dressing rooms and a modern lobby. The single-story complex consists of a steel and metal frame diaphragm building featuring a combination of metal panels, plaster and curtain wall system finishes. The ground-up construction began in January 2023. Ruhnau Clarke Architects served as architect for the project.

February 24, 2025

Acquisitions California Multifamily Western

CPP Acquires 60-Unit Sundance Apartments in Bakersfield, California

by Amy Works February 24, 2025

BAKERSFIELD, CALIF. — Community Preservation Partners (CPP), in partnership with Bettencourt Properties and The Beneficial Housing Foundation, has acquired Sundance Apartments, an affordable housing complex in Bakersfield, with plans to renovate the asset. Located at 6000 White Lane in Bakersfield’s Spice Tract neighborhood, Sundance Apartments was originally built in 1981 and comprises 10 two-story buildings and a single-story building with a community room, laundry room and leasing office. Designed to accommodate families, Sundance Apartments offers 40 two-bedroom and 20 three-bedroom units. CPP’s total development investment is approximately $32.5 million, which includes the purchase price of $20 million and estimated renovation costs of approximately $80,000 per unit. The property will receive significant renovations to improve energy efficiency and modernizations. Specific improvements include the replacement of solar and electrical panels, HVAC units, water heaters and appliances. Additional interior upgrades will include the modernization of bath and kitchen surrounds and fixtures and replacement of unit flooring. Exterior improvements will include roofing replacement, repairs to the property’s asphalt, pavement and paths of travel, as well as upgraded landscaping. CPP also plans to upgrade the property’s community room. CPP is partnering with LifeSTEPS to provide onsite adult education, health and wellness, and skill-building classes and services …

February 24, 2025

Affordable Housing California Development Multifamily Western

C&C Development Breaks Ground on 54-Unit Affordable Housing Complex in Buena Park, California

by Amy Works February 24, 2025

BUENA PARK, CALIF. — C&C Development and Riverside Charitable Corp. have broken ground on Lincoln Avenue Apartments, an affordable housing community in Buena Park. Consisting of four three-story buildings, Lincoln Avenue Apartments will offer 54 apartments for families and veterans in need. The project will include five units for student families, 11 units for veterans and 13 permanent supportive housing units for families and individuals with special needs. Units will range in size from approximately 500 square feet to 900 square feet and will be both ADA-accessible and adaptable. Additionally, units will incorporate sustainable design elements and practices, such as drought-tolerant landscaping and the installation of energy-efficient HVAC systems, water heaters and appliances. Onsite amenities will include a community room, laundry room, children’s tot lot, teen outdoor fitness area and a barbecue pavilion. Additionally, LifeSTEPS will offer onsite programming for adult education and after-school activities for children. Funding for the project was provided by several entities, including the City of Buena Park and CalOptima Health, which is providing an $8 million grant to support housing for Medi-Cal members.

February 24, 2025

The Wellness Village in Mead Valley, California

California Development Healthcare Top Stories Western

PMB Tops Out $580M Behavioral Health Campus in Mead Valley, California

by Channing Hamilton February 21, 2025

MEAD VALLEY, CALIF. — Local developer PMB, in partnership with the Riverside University Health System, has topped out The Wellness Village in Mead Valley, a $580 million behavioral health campus located about 25 miles south of San Bernadino, Calif. Upon completion, the campus will serve as a mental health urgent care and crisis residential program for children under the age of 13. The Wellness Village will provide a range of services, including urgent behavioral health treatment, supportive housing and outpatient care. The facility will also house primary and specialty medical care practices, as well as dental services, substance use disorder treatment and an on-site pharmacy. More specifically, Wellness Village will include: Additionally, the property will offer amenities designed to promote community interaction and holistic recovery, such as green spaces and gardens, sports courts, an activity lawn, public market/café and community meeting space for local events and activities. Construction on The Wellness Village is slated to complete in 2026. Boulder Associates is the project architect, while Snyder Langston is the design-builder. PMB Real Estate Services will serve as the property manager. Financing sources for the development include Morgan Stanley, JLL, Kensington Advisors, P3 Foundation, Advocates for Human Potential Inc. and the …

February 21, 2025

California Loans Multifamily Walker & Dunlop Western

Walker & Dunlop Arranges $81M Refinancing for Enclave Heritage Flats in Chula Vista, California

by Amy Works February 21, 2025

CHULA VISTA, CALIF. — Walker & Dunlop has arranged an $81 million loan for the refinancing of Enclave Heritage Flats, a low-rise apartment complex in Chula Vista. Located at 1800 Santa Carolina Road, Enclave Heritage Flats offers 312 one-, two- and three-bedroom floor plans. Amenities at the pet-friendly community include a fitness center, resort-style swimming pool and movie screening theater. Gregory Richardson of Walker & Dunlop Capital Markets, along with Andrew Yaroma, Kimberly Schmitz and Terri Magnani of Walker & Dunlop Investment Partners, arranged the loan for the borrower, Baldwin and Sons LLC.

February 21, 2025

165-E-Hospitality-Lane-San-Bernardino-CA

Acquisitions California Retail Western

Progressive Arranges $6.8M Sale of Retail Property in San Bernardino, California

by Amy Works February 20, 2025

SAN BERNARDINO, CALIF. — Progressive Real Estate Partners has arranged the $6.8 million sale of a multi-tenant commercial flex center located at 165 E. Hospitality Lane in San Bernardino. The 44,290-square-foot property comprises two buildings with suites ranging in size from 950 square feet to 1,930 square feet. Originally built in 1980, the recently renovated center was 93 percent leased at the time of sale to 24 tenants, including retail, restaurant, healthcare, education, fitness, finance and office businesses. Situated in the Tri-City Commons/Hospitality Lane District, the center is part of a larger Inland Empire commercial hub totaling more than 4.4 million square feet of office, industrial, retail and hospitality space. Greg Bedell and Lance Mordachini of Progressive represented the Los Angeles-based seller in the transaction. The undisclosed buyer was an Orange County-based private investor.

February 20, 2025

Acquisitions California Retail Western

Hanley Brokers $5.9M Sale of Single-Tenant Retail Property in Torrance, California Leased to Chipotle

by Amy Works February 20, 2025

TORRANCE, CALIF. — Hanley Investment Group has arranged the $5.9 million sale of a newly constructed, single-tenant property in Torrance, a city in the South Bay area of Los Angeles. Chipotle Mexican Grill occupies the building — which totals 3,570 square feet — on a 15-year, corporate guaranteed, triple-net lease. Bill Asher, Jeff Lefko and Sean Cox of Hanley represented the buyer, a Los Angeles-based private investor, in the all-cash transaction. Christopher Huddleston of The Sher Group represented the seller, a Los Angeles-based private investor.

February 20, 2025

California Development Healthcare Retail Western

Ware Malcomb Completes USC Campus Pharmacy Interior Redesign Project in Los Angeles

by Amy Works February 20, 2025

LOS ANGELES — Ware Malcomb has completed the interior design build-out of a pharmacy location at the University of Southern California (USC) in Los Angeles. The firm provided interior architecture and design services for the tenant improvement project, totaling 2,819 square feet. HC Olson Construction served as general contractor for the project. The redesign enabled the university’s pharmacy services at the USC University Park Campus in Los Angeles to move into a larger location that is near other health services to better serve students, staff and the public. The pharmacy includes a retail area with product display, two consultation rooms, a waiting area, dedicated receiving area for deliveries, compliant staff restroom and a break room. Additionally, the building’s footprint can accommodate Script Pro, a pharmacy robot that fills prescriptions, and its infrastructure includes uninterruptible power supply (UPS) battery backups for pharmacological systems and technology.

February 20, 2025

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