California

ONELIFE Purchases 137-Unit Assisted Living, Memory Care Community in Sacramento

by Amy Works February 11, 2025

SACRAMENTO, CALIF. — Developer and operator ONELIFE Senior Living has acquired The Woodlake Senior Living, a 137-unit community located in Sacramento. Amenities at the property, which offers assisted living and memory care residences, include a movie theater, game room, fitness center, salon, library and arts and crafts room. The acquisition marks the fourth senior living community in California for ONELIFE, which merged with Ally Senior Living earlier this year. “The Woodlake Senior Living represents a strategic expansion of our California presence,” says Dan Williams, CEO of ONELIFE. According to the company, the state’s population of individuals age 65 and older is expected to reach 9 million by 2040. Denver-based ONELIFE was founded in 2009.

February 11, 2025

Acquisitions California Industrial Western

North City Enterprise Acquires Industrial Building in San Marcos, California for $2.1M

by Amy Works February 11, 2025

SAN MARCOS, CALIF. — North City Enterprise LLC has purchased a freestanding industrial building in San Marcos for $2.1 million. The buyer plans to relocate its business to the 5,474-square-foot facility, which is located at 110 Venture St. Chris Baumgart of JLL represented the buyer, while Chris Nelson of Mathews REIS represented the undisclosed seller in the deal.

February 11, 2025

Acquisitions California Industrial Mixed-Use Multifamily Western

IPA Arranges $26.5M Sale of 4.9-Acre Redevelopment Site in Irvine, California

by Amy Works February 10, 2025

IRVINE, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of 2400 Barranca, a 4.9-acre redevelopment site within Irvine Business Complex (IBC) in Irvine. Gemdale USA sold the asset to Irvine Community Land Trust, in partnership with USA Properties, for $26.5 million. The site offers a variety of development opportunities from for-sale townhomes to industrial redevelopment. According to IPA, the City of Irvine’s 2045 General Plan includes a new residential housing overlay that will target 15,000 new housing units in the IBC and eliminate the need for a site-specific environment impact report, zone change or amendment to the master plan and city council vote to stimulate new high-density housing developments in locations where multifamily housing is needed. Kevin Green, Joseph Grabiec, Gregory Harris and Mark DeGiorgio of IPA represented the seller and buyer in the transaction.

February 10, 2025

Acquisitions California Office Western

Bolour Sells 71,464 SF Creative Office Building in Mission Viejo, California

by Amy Works February 10, 2025

MISSION VIEJO, CALIF. — Bolour Associates has completed the disposition of Cerro, a Class A creative office property fronting Interstate 5 in Mission Viejo, for $23.9 million. The name of the buyer was not released. Situated on 3.8 acres at 27401 Los Altos, the four-story building offers 71,464 rentable square feet and ample free surface parking. Nearly half of the building’s leases represent credit tenant commitments by organizations, including Pulte Homes and the U.S. General Services Administration, with almost 70 percent of tenants leased through at least 2028. Since acquiring the building in 2018, Bolour completed a renovation, including a Wi-Fi enabled lobby and outdoor patio, elevator modernization, common area corridors and restrooms, and exterior hardscape and landscaping. Additionally, Bolour completed multiple speculative creative office suites, providing move-in-ready spaces. Simon Dillon, Justin Hill and Reid Weaver of CBRE are handling leasing for the property. Blake Bokosky and Will Poulsen of JLL served as investment sale advisors for the transaction.

February 10, 2025

Acquisitions California Restaurant Retail Western

SRS Negotiates $2.7M Ground Lease Acquisition of Dutch Bros Property in Cameron Park, California

by Amy Works February 10, 2025

CAMERON PARK, CALIF. — SRS Real Estate Partners has arranged the ground lease (land ownership) acquisition of a Dutch Bros asset in Cameron Park, a suburb of Sacramento, Calif. An Oregon-based investment group sold the building to a Sacramento-based private investor for $2.7 million. Dutch Bros occupies the 950-square-foot property on a new 15-year, absolute triple-net corporate-guaranteed lease. Built in 2024, the asset is located at 4085 Cameron Park Drive. Alexander Moore of SRS Capital Markets represented the buyer, which completed a 1031 exchange, in the transaction.

February 10, 2025

California Development Loans Mixed-Use Multifamily Retail Western

Adept Urban Development Receives $107M in Construction Financing for Mixed-Use Project in Ontario, California

by Amy Works February 7, 2025

ONTARIO, CALIF. — Adept Urban Development has obtained $107 million in financing for the construction of Adept Ontario, a master-planned, mixed-use development at 4117 E. Concours St. in Ontario. Situated adjacent to Toyota Arena, the first phase of Adept Ontario will include 384 multifamily units and 26,000 square feet of retail space, as well as several digital media signs. Stefen Chraghchian of Marcus & Millichap Capital Corp. secured the financing with Affinius Capital and Bank OZK on behalf of the developer.

February 7, 2025

California Industrial Loans Western

Gantry Secures $11M in Refinancing for Two Bay Area Industrial Buildings

by Amy Works February 7, 2025

SANTA CLARA AND SAN JOSE, CALIF. — Gantry has secured an $11 million permanent loan to refinance two industrial properties in Santa Clara and San Jose. Totaling 78,250 rentable square feet, the properties are a flex-industrial building at 3175 De La Cruz Blvd. in Santa Clara and a single-tenant industrial facility at 1941 Ringwood Ave. in San Jose. Murphy Osborne and Alex Poulos of Gantry’s San Francisco office represented the borrower, a private real estate investor, in the financing. The 10-year, fixed-rate, cross-collateralized loan was secured through one of Gantry’s correspondent life company lenders. Terms include prepayment flexibility and 25-year amortization.

February 7, 2025

Acquisitions California Restaurant Retail Western

DAUM Commercial Brokers Sale of 5,000 SF Mama Lu’s Dumpling House in Arcadia, California

by Amy Works February 7, 2025

ARCADIA, CALIF. — DAUM Commercial Real Estate Services has arranged the purchase of a 5,000-square-foot restaurant space in Arcadia. Dream1212 LLC, the owner of Mama Lu’s Dumpling House, acquired the property from an undisclosed seller for $4 million. The traditional Chinese restaurant occupies the restaurant space at 1212 S. Baldwin Ave. The Arcadia property serves as Mama Lu’s sixth location. Rudy Lara, Nick Peukpiboon, Nathan Lara and Andrew Lara of DAUM represented the buyer in the deal.

February 7, 2025

California Company News Retail Top Stories Western

Liberated Brands Files for Chapter 11 Bankruptcy, Plans to Close 122 Stores

by Hayden Spiess February 7, 2025

COSTA MESA, CALIF. — Liberated Brands, a licensed operator of several sport, outdoor and lifestyle apparel brands, has initiated Chapter 11 bankruptcy proceedings, according to court documents filed in Delaware. Liberated Brands’ portfolio of retailers includes Volcom, Billabong, Quiksilver, ROXY, Honolua Surf, RVCA, Beachworks, Becker Surfboards, ZJ Boarding House, Spyder and Boardriders. According to Gordon Brothers, which is providing real estate advisory services to the retailer, Liberated Brands plans to close its 122 stores throughout the country. Gordon Brothers — which earlier this year entered into a sales transaction with Big Lots upon the latter’s Chapter 11 bankruptcy filing — has initiated closing sales at each of the 122 retail locations. In a statement, Liberated Brands CEO Todd Hymel cited “a series of major headwinds and challenges,” including the rise in interest rates, inflation, supply chain delays, declining consumer demand, shifting customer preferences and substantial fixed costs. Additionally, in December 2024, the company’s North American license rights for its wholesale operations under the Volcom, RVCA and Billabong brands were terminated due to a default. Founded in 2019 by Hymel, Costa Mesa-based Liberated Brands briefly enjoyed a sharp increase in product demand during the COVID-19 pandemic, with revenue increasing from $350 million in …

February 7, 2025

Acquisitions California Industrial Self-Storage Western

Westport Properties Buys 2,284-Unit Self-Storage Portfolio in Southern California

by Amy Works February 6, 2025

CARSON AND CARLSBAD, CALIF. — Westport Properties has acquired a self-storage portfolio comprising two StorQuest Self Storage-managed assets in Carson and Carlsbad. Terms of the transaction were not released. Built in 2006 on 4.5 acres, the Carson property is located at 17106 Avalon Blvd. The Carlsbad property is located at 2500 Campbell Place and was built in 2008 on 3.4 acres. The portfolio totals 270,841 rentable square feet and 2,284 self-storage units. At the time of sale, the portfolio was 90 percent leased. Greg Wells, Kevin Cuff, Luke Elliott and Mike Mele of Cushman & Wakefield’s Self Storage Advisory Group represented the undisclosed seller in the transaction.

February 6, 2025

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