California

Tapo-Canyon-Commerce-Center-Simi-Valley-CA

Stream Realty, QuadReal Break Ground on Tapo Canyon Commerce Center in Simi Valley, California

by Amy Works November 4, 2021

SIMI VALLEY, CALIF. — Stream Realty Partners and QuadReal Property Group, in a joint venture, have broken ground on Tapo Canyon Commerce Center, a five-building industrial complex in Simi Valley. Located at 1800 Tapo Canyon Drive, the property will feature 344,056 square feet of Class A industrial space. Tapo Canyon Commerce Center will offer buildings ranging from 25,786 square feet to 135,579 square feet with leasing options from 19,239 square feet to the entire 344,056-square-foot campus. The buildings will feature 28-foot to 36-foot clear heights, window-lined office space, above-regional-standard dock-high loading, five different access points and immediate 118 freeway access. The project team includes HPA Architects, Kimley-Horn and KRPS as general contractor. John DeGrinis, Patrick DuRoss and Jeff Abraham of Newmark are handling leasing for the property.

November 4, 2021

Campus-at-South-County-Foothill-Ranch-CA

Acquisitions California Office Western

Newmark Arranges $50M Sale of Two-Building Office Campus in Foothill Ranch, California

by Amy Works November 4, 2021

FOOTHILL RANCH, CALIF. — Newmark has arranged the sale of The Campus at South County, a two-building office complex in Foothill Ranch. The asset traded for $50 million, or $238 per square foot, in an off-market transaction. Paul Jones, Brunson Howard, Ken White, Kevin Shannon and Brandon White of Newmark represented the seller, a private commercial real estate investment firm, in the deal. The buyer was an undisclosed high-net-worth individual. Located at 27051 and 27121 Towne Centre Drive, The Campus at South County features 210,083 square feet of office space. The property offers an outdoor courtyard, tenant lounge and conference center. Current tenants include Cox Communications, Ossur and Fujitsu.

November 4, 2021

Acquisitions California Net Lease Restaurant Retail Western

SRS Real Estate Partners Negotiates $8.2M Sale of Raising Cane’s-Occupied Property in San Bernardino

by Amy Works November 4, 2021

SAN BERNARDINO, CALIF. — SRS Real Estate Partners has arranged the sale of a restaurant building located at 1857 S. Tippecanoe Ave. in San Bernardino. An affiliate of Red Mountain Group sold the property to a San Diego-based high-net-worth investor for $8.2 million. Raising Cane’s Chicken Fingers occupies the 4,086-square-foot property, which was built in 2017 on 1.2 acres and has more than 11 years remaining on its absolute triple-net lease. Matthew Mousavi and Patrick Luther of SRS’s National Net Lease Group represented the seller, while Jim Casale of Lee & Associates represented the buyer in the deal. According to SRS Real Estate, the transaction is the highest price point for a Raising Cane’s property sold to date on a national basis.

November 4, 2021

California Civic Development Office Western

LA Chargers Unveil Plans for New Team Headquarters, Training Facility in El Segundo

by Jeff Shaw November 3, 2021

EL SEGUNDO, CALIF. — The Los Angeles Chargers have reached an agreement with Continental Development Corp. and Mar Ventures Inc. to build its new corporate headquarters and training facility on a 14-acre site in El Segundo, about 20 miles southwest of Los Angeles. Designed by Gensler Sports, the project will be situated less than three miles from the Los Angeles International Airport and seven miles from SoFi Stadium, where the football team plays. The Chargers had been searching for a location for more than four years, according to Dean Spanos, owner and chairman of the board. Special features within the headquarters will include a rooftop hospitality club, full e-sports gaming and content studios and a 3,100-square-foot media center. The main building will span nearly 145,000 square feet. There will also be three natural grass fields with an artificial turf perimeter that can be taken in from 7,600 square feet of elevated outdoor terrace space. Outdoor amenities will include an additional 3,400-square-foot elevated turf area and a two-lane lap pool for player rehabilitation. The field area is designed to accommodate bleacher seating for more than 5,000 people. With 348 onsite parking spaces and accommodations available for offsite parking, the Chargers will …

November 3, 2021

Affordable Housing California Development Multifamily Seniors Housing Western

R.D. Olson Breaks Ground on Two Affordable Housing Communities in Los Angeles County

by Amy Works November 3, 2021

LONG BEACH AND WEST CARSON, CALIF. — R.D. Olson Construction has broken ground on two affordable housing communities in Los Angeles County: Anaheim and Walnut in Long Beach and West Carson Villas in West Carson. The projects are slated for completion by summer 2023. Developed by Bridge Housing in partnership with the City of Long Beach and the Long Beach Housing Authority, Anaheim and Walnut will feature 207,000 square feet of mixed-use space at 1500 E. Anaheim St. in Long Beach. The $44 million project will offer 88 housing units in a mix of one-, two- and three-bedroom layouts for formerly homeless seniors (age 55 or older) and low-income families that earn between 30 percent and 60 percent of area median income (AMI). The property will include four levels of residential space over the ground-floor commercial space and a three-story parking structure. The fourth-floor terrace of the parking structure features amenities including a tot lot, exercise equipment, barbecues, seating areas, trellises, community planters and rubber surface flooring. SVA Architects is serving as architect for the project. PATH Ventures, in partnership with the Los Angeles County Development Authority, is developing West Carson Villas at 22801-22905 S. Vermont Ave. in West Carson. …

November 3, 2021

Acquisitions California Industrial Western

CapRock Partners Divests of 210,156 SF Distribution Facility in San Diego’s Otay Mesa

by Amy Works November 2, 2021

SAN DIEGO — CapRock Partners has completed the disposition of a newly renovated distribution center located at 1855 Dornoch Court in San Diego’s Otay Mesa submarket. An investment firm acquired the property for an undisclosed price. CapRock completed several million dollars in capital improvements to the 210,156-square-foot building, which was originally built in the late 1980s. Situated on 10.6 acres, the facility features functional divisibility with a variety of bay sizes, 26- to 28-foot clear heights, grade- and dock-high loading doors, ESFR sprinkler systems and concrete truck courts. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Zach Harman of Cushman & Wakefield represented the seller in the deal. Brant Aberg of Cushman & Wakefield along with Joe Anderson and Andy Irwin of JLL provided market leasing advisory.

November 2, 2021

California Development Multifamily Seniors Housing Western

Kendal Corp. Breaks Ground on 221-Unit Seniors Housing Community in Healdsburg, California

by Amy Works November 2, 2021

HEALDSBURG, CALIF. — San Francisco Zen Center and The Kendal Corp. have broken ground on Enso Village, a 221-unit seniors housing community in the Bay Area city of Healdsburg. The development will sit on approximately 16 acres of land in what is called the North Village. The community will feature a vegetarian restaurant, demonstration kitchen, indoor pool and gym, meditation hall and onsite farm for growing fresh produce for the restaurant. Weitz is building the project, which is scheduled for completion in 2023.

November 2, 2021

Acquisitions California Industrial Western

Dalfen Industrial Acquires 80,527 SF Markham Distribution Center in Perris, California

by Amy Works November 2, 2021

PERRIS, CALIF. — Dalfen Industrial has purchased Markham Distribution Center, an industrial property located at 212 Markham St. in Perris. Terms of the transaction were not released. The 80,527-square-foot property was built in 2019. The acquisition is the eighth West Coast purchase Dalfen has made in the past seven months.

November 2, 2021

Acquisitions Affordable Housing California Development Life Sciences Mixed-Use Multifamily Office Top Stories Western

IQHQ Buys Site in Bay Area to Develop New Elco Yards Life Sciences Campus

by John Nelson November 2, 2021

REDWOOD CITY, CALIF. — IQHQ, a private life sciences developer and owner with offices in San Diego and Boston, has purchased a “shovel-ready” development site in the Bay Area town of Redwood City that is fully entitled for mixed-use. The firm plans to develop Elco Yards, a project that will feature four life sciences buildings and two residential communities, as well as green space open to the public. The four office buildings will span 600,000 square feet and include laboratory, meeting and research and development space. The buildings are designed to meet LEED Gold standards. “Elco Yards represents an iconic project in a thriving life sciences market with a proven track record of attracting top companies and diverse talent,” says Steve Rosetta, CEO of IQHQ. “We are excited to advance this project, which is fully entitled and well-positioned to address the unmet demand for premier lab space in the Bay Area.” The multifamily portion will include two communities totaling 540 units. IQHQ is partnering with Charleston, S.C.-based Greystar for the residential component, which will feature 147 income-restricted units, according to Redwood City Mayor Diane Howard. “We look forward to Greystar’s continuing involvement and the creation of much-needed housing in Redwood …

November 2, 2021

California Hospitality Loans Western

Berkadia Secures $148M in Refinancing for Town & Country Resort in San Diego

by Amy Works November 1, 2021

SAN DIEGO — Berkadia has secured a $148 million loan for the refinancing of Town & Country Resort in San Diego. The borrower is a partnership between Lowe and Atlas Hotels. Scott Hall and Aaron Lapping of Berkadia arranged the floating-rate loan through Värde Partners for the borrower. Situated on 31 acres in San Diego’s Mission Valley submarket, Town & Country Resort features 671 guest rooms, five food and beverage outlets, two resort pools, a water slide and more than 292,000 square feet of indoor and outdoor meeting space. CoralTree Hospitality Group manages the resort.

November 1, 2021

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