California

CBRE Facilitates Sale of 266-Unit Ascend Apartments in Milpitas, California

by Amy Works October 14, 2024

MILPITAS, CALIF. — CBRE has arranged the sale of Ascend Apartments, a multifamily community in Silicon Valley. Keith Manson of CBRE represented the buyer in the off-market transaction. Details of the deal were not released. Located at 1821 S. Milpitas Blvd. in Milpitas, Ascend Apartments features 266 studio, one- and two-bedroom floor plans, courtyards, a rooftop terrace with a skyline swimming pool and spa and a fitness center with an outdoor yoga lounge. Built in 2021, the community is situated across from the Milpitas BART and VTA Light Rail stations.

October 14, 2024

Acquisitions California Restaurant Retail Western

CalBay Development Sells Jack in the Box-Occupied Restaurant Building in Alameda, California for $4M

by Amy Works October 14, 2024

ALAMEDA, CALIF. — CalBay Development has completed the sale of a single-tenant restaurant property in Alameda to a Thousand Oaks, Calif.-based private investor for $4 million. Jack in the Box occupies the 2,583-square-foot building, which includes a drive-thru. Located at 1257 Park St., the property was originally renovated in 1991. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley Investment Group, along with Cherie Huillade of Colliers, represented the seller in the deal. Jake Kim of Westlake Village, Calif.-based Pinnacle Estate Properties represented the buyer.

October 14, 2024

Acquisitions California Office Retail Western

Coldwell Banker Brokers Sale of 10,000 SF Office Building in Northridge, California

by Amy Works October 14, 2024

NORTHRIDGE, CALIF. — Coldwell Banker Commercial Quality Properties has arranged the $2.6 million sale of a 10,000-square-foot, multi-tenant office and retail property located at 8727 Tampa Ave. in Northridge, about 25 miles northwest of Los Angeles. Arthur Pfefferman of Coldwell Banker Commercial Quality Properties represented the seller, a law firm, in the transaction. The name of the buyer was not released.

October 14, 2024

California Development Office Western

CIM Group Delivers 55,673 SF Creative Office Building in Los Angeles

by Amy Works October 11, 2024

LOS ANGELES — CIM Group has completed construction of a three-story creative office building at 3000 Crenshaw Blvd. in Los Angeles. The 55,673-square-foot building offers flexible design options with 12.5-foot ceiling heights and large operable windows. The property offers two levels of below-grade parking, a variety of outdoor spaces, including private balconies on all floors, glass garage doors opening to a private outdoor patio on the third floor and a communal landscaped rooftop deck.

October 11, 2024

California Healthcare Leasing Activity Retail Western

Progressive Real Estate Partners Negotiates 3,080 SF Retail Lease for Lifestream Blood Bank in Moreno Valley, California

by Amy Works October 11, 2024

MORENO VALLEY, CALIF. — Progressive Real Estate Partners has negotiated a medical/retail lease for Lifestream Blood Bank to occupy space at 24199 Hemlock Ave. in Moreno Valley. Paul Su of Progressive Real Estate Partners represented the tenant in the transaction. Lifestream Blood Bank signed a 10-year lease for 3,080 square feet of end-cap space within District at Moreno Valley shopping center. The blood bank is slated to open by summer 2025.

October 11, 2024

Acquisitions California Multifamily Top Stories Western

CP Capital Sells 312-Unit Apartment Community in Suburban Los Angeles

by John Nelson October 11, 2024

POMONA, CALIF. — CP Capital has sold The Gabriel, a 312-unit apartment community in Pomona, approximately 30 miles west of Los Angeles. The property is situated at 2771 N. Garey Ave., adjacent to the Pomona North Metrolink Station. The buyer and sales price were not disclosed. The Gabriel was completed in 2022. The four-story development offers apartments featuring stainless steel appliances, quartz countertops, plank flooring and smart home technology such as Honeywell Wi-Fi thermostats, community video intercoms, Brivo keyless entry in common areas and ButterflyMX virtual keys. According to Apartments.com, units come in one-, two- and three-bedroom floor plans with monthly rental rates starting at $2,285. Community amenities include a pool and spa, fitness center, onsite retail, four courtyards with fruit trees and outdoor seating, fire pits, outdoor grills, a clubroom, rideshare lounge, entertainment lounge, dog park, pet wash station, package lockers and covered bike storage. The property was 94 percent occupied at the time of sale. “The multifamily sector has faced challenges in recent years, but we remain optimistic due to its resilience amidst economic uncertainty and the heightened levels of renter demand that should persist long after the current wave of new supply is fully absorbed,” says Kristi …

October 11, 2024

Acquisitions California Industrial Western

Rockpoint Completes Sale of Two-Building Industrial Property in San Diego to Badiee Development

by Amy Works October 10, 2024

SAN DIEGO — Boston-based Rockpoint has completed the disposition of a two-building industrial property located in San Diego’s Otay Mesa neighborhood to Badiee Development. Financial terms of the transaction were not released. The sale is the third in a series of three industrial properties that Rockpoint and Badiee jointly purchased and developed and completes Rockpoint’s realization of all three properties. Located at 2080 Sanyo Ave. and 9350 Airway Road, the 243,000-square-foot asset offers 32-foot clear heights, a desirable dock door ratio, access to the 125 and 905 freeways and the flexibility to accommodate multiple tenant configurations in each building. Rockpoint and Badiee acquired the 15-acre site in June 2021 and subsequently developed the two industrial buildings.

October 10, 2024

Acquisitions California Mixed-Use Multifamily Office Restaurant Retail Western

Marcus & Millichap Brokers Sale of 10,734 SF Mixed-Use Property in El Cajon, California

by Amy Works October 10, 2024

EL CAJON, CALIF. — Marcus & Millichap has arranged the sale of a mixed-use property located at 245 E. Main St. in downtown El Cajon. Syrian Investments acquired the asset from Ronald L. Bain for $2.6 million. The buyer plans to occupy the building and open its second restaurant on the street occupying the ground floor. Built in 2007, the fully vacant building offers 10,734 square feet of retail, office and apartment space, a rear parking lot, roll-up door, alley access and Main Street frontage. Nick Totah and Joseph Gutierrez of Marcus & Millichap represented the seller, while Na’il Salem of Premiere Homes procured the buyer in the deal.

October 10, 2024

600-610-Sequoia-Pacific-Blvd-Sacramento-CA

Acquisitions California Industrial Western

CBRE Facilitates $5.8M Sale of Sacramento Industrial Building

by Amy Works October 9, 2024

SACRAMENTO, CALIF. — CBRE has arranged the sale of an industrial building located at 600-610 Sequoia Pacific Blvd. in Sacramento. Henderson Enterprises LP sold the asset to an undisclosed buyer for $5.8 million. WCP Solutions, a wholesale distributing company, occupies the entire 58,160-square-foot building. Situated on three acres, the property offers 22-foot clear heights, eight dock-high doors and two grade-level doors, as well as 6,880 square feet of office space. Matt Post, Todd Sanfilippo, Anthony DeLorenzo, Sammy Cemo and Nick Williams of CBRE represented the seller in the deal.

October 9, 2024

Acquisitions California Office Western

Harbor Associates, F&F Capital Buy 211,000 SF Highlands Corporate Center in San Diego

by Amy Works October 8, 2024

SAN DIEGO — A joint venture between Harbor Associates and F&F Capital Group has purchased Highlands Corporate Center, a Class A office campus in San Diego’s Del Mar Heights, for an undisclosed price. Located at 12730-12780 High Bluff Drive, Highlands Corporate Center offers 211,000 square feet of office space spread across five buildings. The recently renovated campus features new lobby finishes, a new conference center, fitness facilities, tenant lounge and an outdoor pavilion, as well as electric vehicle charging stations and private balconies on several of the upper-floor tenant suites. Adam Edwards, Justin Shepherd and Bailey Bland of Eastdil Secured represented the undisclosed seller in the deal. At the time of sale, Highlands Corporate Center was 90 percent leased.

October 8, 2024

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