Wednesday, July 9, 2025
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River-Run-Senior-Corona-CA
AcquisitionsAffordable HousingCaliforniaMultifamilySeniors HousingWestern

Avanath Buys 360-Unit Affordable Seniors Housing Community in Corona, California

by Amy Works

CORONA, CALIF. — Avanath Capital Management has purchased River Run Senior, an affordable seniors housing property located at 863 River Road in Corona. With this acquisition, Avanath now owns 11 properties in Southern California with 2,187 units under management in the region. Built in 2004, River Run consists of six three-story, garden-style residential buildings totaling 216,684 square feet. The community offers a mix of 306 one-bedroom units and 54 two-bedroom units. Units feature air conditioning, dishwashers, vinyl plank flooring, walk-in closets and private balconies or patios. Residential amenities include a community center, leasing office, business center, pool, elevator service, laundry rooms in each building and a gated entry. Avanath will implement social programming at River Run, in addition to its Wellbeats partnership program that allows residents to exercise from home. The company also plans to upgrade the property’s mechanical systems; replace roofs, HVAC systems and boilers; add a maintenance shop; and install security cameras near access gates. Avanath Communities will manage the asset.

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24820-Avenue-Tibbitts-Valencia-CA
AcquisitionsCaliforniaIndustrialWestern

Delta Capital Acquires Industrial Building in Valencia, California for $3.1M

by Amy Works

VALENCIA, CALIF. — Delta Capital LLC has purchased a warehouse building located at 24820 Avenue Tibbitts in Valencia. An undisclosed seller sold the asset for $3.1 million. Situated on a 31,146-square-foot parcel, the 13,045-square-foot building was built in 1987. The property features two drive-in/grade-level doors, ample power and 17-foor clear heights. At the time of sale, the property was fully leased. The buyer plans to hold the asset as an investment property. Yair Haimoff of Spectrum Commercial Real Estate represented the buyer in the transaction.

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AcquisitionsCaliforniaMultifamilyWestern

Marcus & Millichap Brokers $16.7M Purchase of Multifamily Portfolio in Redding, California

by Amy Works

REDDING, CALIF. — Marcus & Millichap has arranged the acquisition of an apartment portfolio located throughout Redding. OSM Investment Co. purchased the assets from a multi-generational family of investors for a combined $16.7 million. The portfolio offers a total of 162 apartments. The buyer plans to make improvements to the properties and streamline management of the portfolio. Rand Hoffman and Daniel Kapic of Marcus & Millichap secured and represented the buyer in the deal.

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Ryder-Olive-Davis-CA
CaliforniaDevelopmentMultifamilyStudent HousingWestern

HighBridge Properties Opens 706-Bed Student Housing Community Near the University of California, Davis

by Amy Works

DAVIS, CALIF. — HighBridge Properties has opened The Ryder on Olive, a 706-bed student housing community located near the University of California, Davis. The 260,000-square-foot, LEED Gold-certified property offers a mix of two-, three-, four- and five-bedroom, fully furnished units. Shared amenities include a fitness center, yoga room, study areas, game rooms, a swimming pool, karaoke room, dog park and a 24-hour micro-market offering food and drinks. The project’s development team included partner Grand Peaks Development; general contractor Brown Construction; Humphreys & Partners Architects; and SouthPark Interiors. Asset Living manages the community.

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Beverly-Hills-Medical-Plaza-Beverly-Hills-CA
AcquisitionsCaliforniaHealthcareOfficeWestern

Meridian Acquires Medical Office Building in Beverly Hills for $81.5M

by Amy Works

BEVERLY HILLS, CALIF. — Meridian, in a joint venture with a larger institutional investment partner, has purchased Beverly Hills Medical Plaza, a medical office building located at 150 N. Robertson Blvd. in Beverly Hills. Beverly Hills Medical Plaza Properties sold the asset for $81.5 million in an off-market transaction. The 67,510-square-foot property has been family owned since it was originally built in 1989 and was 88 percent leased at the time of sale. The buyer plans to invest significant capital in building improvements. Kevin Shannon, Rob Hannan, Ken White and Steven Salas of Newmark represented the seller, while Meridian was self-represented in the transaction.

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LA-Fitness-Marina-Pacifica-Long-Beach-CA
CaliforniaLeasing ActivityRetailWestern

LA Fitness to Open New Location at Marina Pacifica in Long Beach

by Amy Works

LONG BEACH, CALIF. — LA Fitness has leased 33,987 square feet of space, which Best Buy formerly occupied at Marina Pacifica Shopping Center in Long Beach. The gym location is scheduled open in early 2022. Other tenants at the 296,954-square-foot shopping center include AMC, Ralphs, Nordstrom Rack, Barnes & Noble, Buffalo Wild Wings, Starbucks Coffee and Ulta Beauty. The landlord, NewMark Merrill Cos., was represented in-house and by Beta Agency, while RealSource Group represented LA Fitness in the deal.

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2055-Main-St-Irvine-CA
CaliforniaDevelopmentMultifamilyWestern

Intracorp Breaks Ground on 178-Unit Multifamily Community in Irvine, California

by Amy Works

IRVINE, CALIF. — Intracorp has broken ground on a 178-unit apartment property located at 2055 Main St. in the Irvine Business Complex (IBC). The project, which is Intracorp’s fourth development in the IBC, will be the company’s first for-rent multifamily development in the area. Situated on 2.2 acres, 2055 Main will feature five stories of residential living in a modern geometric design. Community amenities will include a rooftop deck with a resort-style pool and spa, entertainment pavilion, expansive LED wall, lounge areas, barbecues and a game area. Other amenities will include a fitness center, sunken amphitheater, outdoor dining areas, fire features, business center and social club. Leasing on the project is slated to begin in summer 2023.

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19001-Brookhurst-St-Huntington-Beach-CA
AcquisitionsCaliforniaNet LeaseRetailWestern

Stanford Hotels Group Sells Walgreens-Occupied Retail Building in Huntington Beach for $11.3M

by Amy Works

HUNTINGTON BEACH, CALIF. — Stanford Hotels Groups has completed the sale of a single-tenant retail property located at 19001 Brookhurst St. in Huntington Beach. A private 1031 exchange investor acquired the asset for $11.3 million. Walgreens occupies the 11,838-square-foot building on a triple-net, long-term lease. The tenant has occupied the property, which sits on 1.3 acres, since it was constructed in 2007. Daniel Tyner and Gleb Lvovich of JLL Retail Capital Markets represented the buyer in the transaction.

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58132-Twentynine-Palms-Hwy-Yucca-Valley-CA
AcquisitionsCaliforniaRetailWestern

Progressive Real Estate Brokers $2M Sale of Multi-Tenant Retail Pad in Yucca Valley, California

by Amy Works

YUCCA VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail pad located at 58132 Twentynine Palms Highway in Yucca Valley. The asset traded for $2 million in a 1031 exchange transaction. Tenants at the 6,518-square-foot property include Gamestop, Verizon Wireless and Metro PCS. The building is an outparcel to a 212,000-square-foot shopping center that is anchored by Stater Bros. Greg Bedell of Progressive Real Estate represented the seller, while Victor Buendia, also of Progressive Real Estate, represented the buyer in the transaction.

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ArizonaCaliforniaFeaturesIndustrialNevadaWesternWestern Feature Archive

CapRock Partners Seizes Industrial Opportunities in Western Region

by Kristin Harlow

Newport Beach, Calif.-based CapRock Partners was busy before the pandemic, but shows no signs of slowing down even as brick-and-mortar retail reopens. The industrial investor, developer and asset manager’s newest venture is also its biggest: a 183-acre infill project in Phoenix where it plans to build an eight-building industrial complex that totals more than 3.4 million square feet. “Several years prior to the pandemic, we recognized the ecommerce trends along with the demand for larger logistics facilities and subsequently made investments in buildings and land positions in order to capture a segment of that demand,” says Bob O’Neill, CapRock’s senior vice president of acquisitions. “In the 16 months since the onset of the pandemic, our growth has accelerated.” Phoenix’s Industrial Market Rises CapRock has added about 4.8 million square feet of Phoenix-area industrial product to its portfolio since the pandemic’s onset. Its total pipeline in the Valley is now close to 6 million square feet, with its Phoenix-area acquisition closing in 2017. Aside from CapRock, Cushman & Wakefield also appears to be bullish on Phoenix’s industrial market. The firm projects Phoenix’s preliminary industrial absorption to be about 12 million square feet for the first half of 2021. This compares to …

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