SAN FRANCISCO — SBC Investors LLC has completed the sale of an 8.2-acre land site located at 200-212 Shaw Road, 214-218 Shaw Road and 1264-1272 San Mateo Ave. in San Francisco. Prologis acquired the property for an undisclosed price. The 8.2-acre site is adjacent to San Francisco International Airport and U.S. Route 101, connecting South San Francisco to the rest of the Bay Area. Additionally, the property is roughly four blocks from the BART San Bruno station and five blocks from the CalTrain San Bruno station. Darla Longo, Rebecca Perlmutter, Marshall Hydorn, David Black and Karl Hansen of CBRE represented the seller, while the buyer was self-represented in the deal.
LAKE FOREST, CALIF. — KA Enterprises has purchased Dana Plaza, a retail center located at 21701 and 21721 Lake Forest Drive in Lake Forest. Dana Lake Forest LP sold the asset for $12.1 million. Situated on 3.5 acres, Dana Plaza features 31,503 square feet of retail space. Current tenants include Exxon Mobile, 7-Eleven, Lake Forest Montessori School and Subway. Fouy Ly of Kidder Mathews represented the buyer, while John Moss of Parker Commercial represented the seller in the deal.
SAN DIEGO, FULLERTON AND HAWTHORNE, CALIF. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of three skilled nursing facilities in Southern California on a triple-net lease basis. The properties include Golden Hill Post Acute, a 99-bed facility in San Diego; St. Catherine Healthcare, a 99-bed facility in Fullerton; and Camino Healthcare, a 99-bed facility in Hawthorne. This acquisition brings Ensign’s growing portfolio to 231 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns 95 real estate assets.
SAN JOSE, CALIF. — KBS Real Estate Investment Trust II has completed the sale of an office property located within District 237, an eight-building, 415,492-square-foot office/R&D complex in San Jose. Thor Equities acquired the asset for $50.5 million. Located at 350 Holger Way, the three-story, 96,502-square-foot building was fully renovated in 2019 and is currently 100 percent leased through 2027. The building offers extensive glass lines and efficient floor plates, as well as an outdoor amenity area and upgraded exteriors, landscaping and parking lot. Joe Moriarty, Scott Prosser, Jack DePuy, Russell Ingrum, Brad Zampa and Mike Walker of CBRE Northern California Capital Markets team brokered the transaction. Bruce Fischer, Howard Chu and Amanda Kennedy of Greenberg Traurig LPP’s Orange County office represented KBS as legal counsel in the disposition.
SAN DIEGO — ACI Apartments has arranged the sale of a 38,576-square-foot multifamily complex located in San Diego’s North Park neighborhood. KA Enterprises acquired the community from Arcadia Six LLC for $13.8 million. Situated on a 24,393-square-foot lot at 4602 Kansas St., the property features 47 apartments in a mix of 18 one-bedroom/one-bath, three two-bedroom/one-bath and 26 two-bedroom/two-bath units. Additionally, the community features gated access, a swimming pool, off-street parking and carports. Anton Burman of ACI Apartments represented the buyer, while David Andrews of ACRE represented the seller in the deal. Eugene Marini provided acquisition and asset management. Annemarie Lococo of Chicago Title served as the escrow officer for the transaction.
LOS ANGELES — In a 50-50 joint venture, Lendlease and Aware Super, an Australian superannuation fund, have acquired a 3.5-acre, transit-oriented, mixed-use development site at 3401 S. La Cienega Blvd. in Los Angeles. La Cienega Properties sold the 156,380-square-foot site for $92 million. The team plans to develop a 500,000-square-foot mid-rise project offering 260 multifamily residential units, 250,000 square feet of creative office space and ground-floor retail space. The site offers transit access to the beach and downtown Los Angeles, as well as the Exposition Corridor Bike Path. Lendlease aims to submit an application to the City of Los Angeles this year and plans to commence development in 2023, with completion slated for 2025. The site currently houses 1,144 self-storage units, totaling 86,897 rentable square feet, which will provide a steady in-place income stream for the partnership during the development planning. Upon completion, the project, which is the partnership’s first Los Angeles development, will have an estimated value of $600 million. Kevin Shannon, Ken White, Rob Hannan and Laura Stumm of Newmark represented the seller in the deal.
LOS ANGELES — Los Angeles-based Rexford Industrial has purchased a four-building industrial portfolio and an outdoor storage property in Southern California for $103.1 million. The names of the sellers were not released. Through an off-market transaction, the company acquired four single-tenant industrial buildings located Southern California’s San Fernando Valley, Mid-Counties and Inland Empire West markets for $86.3 million, or $208 per square foot. The properties offer a total of 414,744 square feet of improvements on 25.2 acres. At the time of sale, the portfolio was 100 percent leased. The properties are a 100,157-square-foot asset at 29010 Avenue Paine in Valencia, a 117,151-square-foot building at 29010 Commerce Center Drive in Valencia, a 105,041-square-foot facility at 13369 Valley Blvd. in Fontana and a 92,395-square-foot asset at 6635 Caballero Blvd. in Buena Park. Rexford also acquired an industrial outdoor storage property located at 1235 S. Lewis St. in Anaheim for $16.8 million, or $80 per square foot. The 4.8-acre site features a 62,480-square-foot building.
PALO ALTO, CALIF. — Silicon Valley, Calif.-based Blox Ventures and New York-based Angelo Gordon & Co. have completed the disposition of First Republic Center, a retail and office property located at 2100 El Camino Real in Palo Alto’s College Terrace neighborhood. According to Santa Clara County records, an affiliate of KKR and Drawbridge Real Estate acquired the building for $103.9 million. First Republic’s regional office occupies 76 percent of the 58,000-square-foot building. Other tenants include a 11,000-square-foot Real Produce International Market, a music group and other local businesses.
WESTMINSTER AND ANAHEIM, CALIF. — Advanced Real Estate has purchased a two-property apartment portfolio located in Westminster and Anaheim. The 245-unit transaction was valued at $72 million. The properties are The Edward, a 128-unit community in Westminster formerly known as Hollybrook, and The Lincoln on Grand, a 117-unit property in Anaheim formerly known as Rancho Vista. Built in the early 1970s, both properties offer garden-style apartments, swimming pools and fitness centers. The buyer plans to renovate both assets, including new roofs, windows, siding, landscape, hardscape, new cabinets, counter, fixtures and paint. Sean Deasy and Ryan Fitzpatrick of JLL’s Irvine office represented the undisclosed seller in the deal. Commercial Bank of California provided an acquisition loan for the buyer.
VACAVILLE, CALIF. — LDK Ventures and PCCP have completed the disposition of NorthBay Logistics Center in Vacaville. DRA Advisors acquired the asset for an undisclosed price. Situated on 68.8 acres at 700 Crocker Drive, the newly renovated distribution building features 843,248 square feet of cross-dock distribution space, including large concrete truck yards, 32- to 37-foot clear heights, enhanced office areas and gated, secure access. Serena & Lilly occupies 433,950 square feet of the property, while Wineshipping occupies the remaining 404,950 square feet. A large e-commerce company leases a portion of the excess land for trailer storage. Andrew Briner, Bret Hardy, Jim Linn, Kevin Shannon, Steven Golubchik of Newmark represented the sellers. Ramsey Daya, also of Newmark, procured financing for the buyer.