REBusinessOnline

Core5 Industrial Sells 423,665 SF Harvill Business Center in Perris, California

PERRIS, CALIF. — Atlanta-based Core5 Industrial Partners has completed the sale of Harvill Business Center, a modern logistics facility in Perris. Black Creek Group bought the asset for an undisclosed price. Completed in early 2020, the 423,665-square-foot property features a Ductilcrete concrete floor slab, 36-foot clear heights, 2.5 percent skylights, LED lighting, a gated concrete truck yard, on-site truck staging and low-water landscaping.American Standard, a subsidiary of Lixil Corp. …

DJM Receives $24.5M in Equity for Lido Marina Village Renovation

NEWPORT BEACH, CALIF. — DJM has received $24.5 million in new equity from Arc Capital Partners for the recapitalization of Lido Marina Village, a 116,000-square-foot waterfront retail and office property located on the Balboa Peninsula in Newport Beach.The new equity comes on the heels of a $46.5 million loan from Prime Finance, which brings DJM’s total recapitalization to $71 million. The capital will be used to pay off an existing loan and complete property renovations.Steven …

Neenan Co. Breaks Ground on Community Health Center in El Dorado County, California

PLACERVILLE, CALIF. — The Neenan Company has broken ground for El Dorado Community Health Center (EDCHC), a medical clinic at 4212 Missouri Flat Road in Placerville that will serve residents throughout El Dorado County.Designed by Neenan, the 30,600-square-foot facility will feature 40 primary care exam rooms, 10 behavioral health exam and substance abuse treatment rooms, seven dental exam rooms and four optical exam rooms, as well as space to provide telehealth treatment. Slated for …

CBRE Arranges $52M Loan for PDR Redevelopment in San Francisco

SAN FRANCISCO — CBRE Capital Markets has secured construction financing for The Maclac Building, a five-story, 108,161-square-foot property located at 192-198 Utah St. and 151-191 Potrero Ave. in San Francisco.The borrower, a joint venture between affiliates of Comstock Realty Partners and Dune Real Estate Partners, plans to redevelop the asset, which is zoned as a production, distribution and repair (PDR).PDR refers to a variety of businesses encompassing dent and repair shops, …

Lee & Associates Founder Bill Lee Passes Away at 78

LOS ANGELES — Lee & Associates has announced that its founder, Bill Lee, has passed away at 78 years old after a long battle with cancer and cancer-related complications.Lee founded Lee & Associates Commercial Real Estate Services in 1979 in Orange County, Calif. Now, the company boasts 65 locations across North America and employs more than 1,300 people.Revolutionary for its time, Lee designed the Lee & Associates model to facilitate collaboration and investment across …

Cushman & Wakefield Arranges $750M Refinancing for Burlingame Point Office Campus on San Francisco Peninsula

BURLINGAME, CALIF. — Cushman & Wakefield has arranged $750 million for the refinancing of Burlingame Point, a Class A office, R&D and life sciences campus located on the San Francisco Peninsula in Burlingame. The property includes four buildings totaling approximately 771,000 rentable square feet, along with a 33,000-square-foot amenity building and more than 2,300 onsite parking spaces.The waterfront property is centrally located between Silicon Valley and downtown San Francisco. …

STC Ventures to Develop 500,000 SF of Office Space in Downtown Sunnyvale, California

SUNNYVALE, CALIF. — STC Ventures, a joint venture between Sares Regis Group of Northern California and Hunter Properties, received approval from the Sunnyvale Planning Commission to develop two office buildings totaling 500,000 square feet on the former Macy’s parcel in downtown Sunnyvale.Situated between Taaffe and Murphy avenues, the buildings will be separated by a public pedestrian plaza and each offer 250,000 square feet of office space, 25,000 square feet of ground-level retail …

Parkview Financial Provides $21.5M Construction Loan for Apartment Project in East Hollywood

LOS ANGELES — Parkview Financial has provided a $21.5 million construction loan to Oakwood CA LLC for the development of multifamily property located at 4065 Oakwood Ave. in Los Angeles’ East Hollywood submarket.Slated for completion in 2022, the five-story building will feature 68 apartments in a mix of two studios, 25 one-bedroom units and 41 two-bedroom units with an average size of 1,059 square feet. Fourteen of the units will be designated for low-income residents. Additionally, …

BioMed Realty Wins Municipal Approval for 910,000 SF Expansion of Life Sciences Campus in Bay Area

EMERYVILLE, CALIF. — The City of Emeryville in Northern California’s Bay Area has approved BioMed Realty’s proposal to expand its Emeryville Center of Innovation life sciences campus. The 12-acre property is located about four miles north of Oakland and 10 miles east of San Francisco.The expansion will add 910,000 square feet of Class A laboratory and office space to the development. Phase I of the expansion, which BioMed Realty expects to begin in 2022, will span 265,000 square feet. …

Realty Advisory Group Arranges Sale of 246,912 SF Office Building in El Monte, California

EL MONTE, CALIF. — Realty Advisory Group has arranged the sale of an office and industrial property located at 9320 Telstar Ave. in El Monte’s Flair Park area. Los Angeles-based Rising Realty Partners acquired the asset for $41 million.Built in 1975 and renovated in 2001, the 246,912-square-foot property offers 178,776 square feet of office space, which the Los Angeles County Department of Public Health occupies. Simultaneous with acquisition closing, Los Angeles County and Rising …

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