California

Progressive Real Estate Arranges $2.7M Acquisition of Jack in the Box Property in Los Angeles County

by Amy Works November 1, 2021

POMONA, CALIF. — Progressive Real Estate Partners has brokered the purchase of a restaurant property located at 101 W. Foothill Blvd. in Pomona. A San Gabriel, Calif.-based private investor acquired the asset from an undisclosed seller for $2.7 million. Mike Lin of Progressive Real Estate Partners represented the buyer in the deal. Jack in the Box has occupied the property, which features a drive-thru lane, for more than 30 years. Originally built in 1976, the property underwent a major renovation in 2020 to reflect the current store branding.

November 1, 2021

Acquisitions California Industrial Office Western

Lionstone Investments Sells Tasman Tech Office Campus in California for $170M

by Amy Works October 29, 2021

MILPITAS, CALIF. — Lionstone Investments has completed the sale of Tasman Tech, a 14-building office/R&D campus located at Tasman Drive and Interstate 880 in Milpitas. Washington Holdings acquired the asset for $170 million. Tasman Tech has undergone substantial renovation and capital investment by the seller to continue to attract tenancy. The renovations included the addition of on-site retail amenities, outdoor collaboration areas, a fitness center, building signage and ChargePoint vehicle chargers. Additionally, the campus is within a five-minute VTA Light Rail ride to the Milpitas BART station. Steven Golubchik, Edmund Najera, Jonathan Schaefler and Darren Hollak of Newmark brokered the transaction.

October 29, 2021

Acquisitions California Loans Multifamily Western

PCCP Provides $40M Acquisition Loan for One38 Apartments in Downtown San Jose

by Amy Works October 29, 2021

SAN JOSE, CALIF. — PCCP has provided a $40 million senior loan to an affiliate of Carmel Partners for the purchase of One38 Apartments, a multifamily property located at 138 Balbach St. in downtown San Jose. Situated adjacent to the San Jose Convention Center, One38 Apartments features 101 apartments in a mix of one-, two- and three-bedroom layouts and one level of subterranean parking with 145 stalls. On-site amenities include a community clubhouse, dog park, fitness center and package lockers.

October 29, 2021

Acquisitions California Office Western

Newmark Arranges $28M Sale of Office Building in Pomona, California

by Amy Works October 29, 2021

POMONA, CALIF. — Newmark has brokered the sale of 901 Corporate, a two-story office building located at 901 Corporate Center Drive in Pomona. Foremost Corporate sold the property to The Korda Group for $28 million, or $291 per square foot, in an off-market transaction. Lereta, a tax and flood services provider, occupies the 96,365-square-foot property. The building was constructed in 1989 and underwent an extensive tenant buildout in 2020. Kevin Shannon, Paul Jones, Ken White, Brunson Howard and Brandon White of Newmark represented the seller, while Andrey Mindirgasov of Newmark represented the buyer in the deal.

October 29, 2021

Acquisitions California Retail Western

Progressive Real Estate Brokers $5.6M Sale of ARCO Gas Station in Apple Valley, California

by Amy Works October 29, 2021

APPLE VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of a freestanding ARCO Gas Station and AM/PM convenience store located at 15333 Rancherias Road in Apple Valley. The asset traded for $5.6 million. The names of the seller and buyer were not released. Built in 1998, the ARCO station has six dispensers with 16 fueling positions and a 2,737-square-foot convenience store. Victor Buendia of Progressive Real Estate Partners represented the buyer and seller in the deal.

October 29, 2021

California Development Multifamily Western

Urban Catalyst Plans 497-Unit Apollo Apartments in San Jose

by Amy Works October 28, 2021

SAN JOSE, CALIF. — Urban Catalyst has submitted its formal application with San Jose city planning officials for The Apollo, an 18-story apartment community at 32 Stockton Ave. in San Jose. Thang Do, CEO of Aedis Architects, is development partner on the project. The Apollo will feature 497 apartments, a spa, infinity pool with a transparent base above the main entrance, co-working space and two rooftop lounges. Additionally, the community is located near the Diridon train station and retail opportunities. “The Apollo is another step to address the housing crisis in Silicon Valley,” says Erik Hayden, CEO and managing partner of Urban Catalyst. “When we build high-density residential units in a transit-oriented location, we are building to meet the needs of today and tomorrow.”

October 28, 2021

Acquisitions California Industrial Western

Lincoln Property Co. Divests of 104,510 SF Last-Mile Industrial Facility in San Diego for $64.2M

by Amy Works October 28, 2021

SAN DIEGO — Lincoln Property Co. has completed the disposition of a newly renovated last-mile distribution center in San Diego’s Kearny Mesa submarket. Realterm Logistics acquired the asset for $64.2 million. Situated on 10.5 acres at 7995 Armour St., the freestanding facility features 104,510 square feet of industrial space. The seller completed significant capital improvements and repositioned the asset, which was built in the 1980s. The facility features well-designed ingress/egress; efficient warehouse and office layouts; dock- and grade-loading capabilities; and ample parking. At the time of sale, the property was fully leased to a global Fortune 50 e-commerce company. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Zach Harman of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction.

October 28, 2021

Acquisitions California Net Lease Restaurant Retail Western

Marcus & Millichap Arranges Sale of Starbucks-Occupied Property in Oakland

by Amy Works October 28, 2021

OAKLAND, CALIF. — Marcus & Millichap has brokered the sale of a retail building located at 470 Lake Park Ave. in Oakland. A limited liability company sold the asset to an undisclosed buyer for $3.5 million. Starbucks Coffee net leases the 1,600-square-foot property, which was built in 1968. Chris Lind and Mark Ruble of Marcus & Millichap’s Phoenix office represented the seller in the deal. David Nelson of Marcus & Millichap’s Oakland office was broker of record for the transaction.

October 28, 2021

Acquisitions California Life Sciences Office Top Stories

Longfellow Buys Nine Office Assets in San Diego for $315.4M, Plans Conversion to Life Sciences Campus

by Julia Sanders October 28, 2021

SAN DIEGO, CALIF. — Longfellow Real Estate Partners has acquired Luskin Business Park, a nine-property office portfolio totaling 371,281 square feet in San Diego. The sales price was $315.4 million. Longfellow plans to convert the assets into a massive life sciences campus. The properties are located at 6150, 6160, 6370, 6440, 6450, 6540, 6640 and 6650 Lusk Blvd. and 10225 Barnes Canyon Road in the Sorrento Mesa submarket, a part of San Diego that is home to major corporations and has a high demand from life sciences tenants. All of the properties are two-story buildings that are zoned for office, light industrial and other commercial uses, including life sciences. Situated on a total of 20.6 acres, the portfolio has access to top San Diego research institutions, including Scripps Research, UC San Diego, the Salk Institute and Sanford Burnham Prebys Medical Discovery Institute. San Diego remains one of the top markets for life sciences demand, according to CBRE’s U.S. Life Sciences Midyear 2021 report. Lynn LaChapelle, Bob Prendergast, Sach Kirpalani and Michael Leggett of JLL represented the seller, PS Business Parks, in the transaction. “This was a rare opportunity to acquire a life sciences redevelopment opportunity of scale in one of …

October 28, 2021

Acquisitions California Healthcare Office Western

GPI Cos. Sells Medical Office Building in North Hollywood in Off-Market Transaction

by Amy Works October 27, 2021

LOS ANGELES — GPI Cos. has completed the disposition of a medical office building located in Los Angeles’ North Hollywood neighborhood. Principal Real Estate Investors acquired the asset for an undisclosed price in an off-market transaction. Located at 4343 Lankershim Blvd., the three-story property features 32,418 square feet of medical office space. The property is fully leased to a local health institution and offers pain medicine and digestive disease services. Andrew Milne, Evan Kovac and Matt DiCesare of JLL Healthcare Capital Markets, along with Bryan Lewitt of JLL’s Los Angeles Healthcare Markets, represented the seller in the deal.

October 27, 2021

Newer Posts

Older Posts