SAN YSIDRO, CALIF. — Border Business Center LLC has completed the sale of a four-building industrial park at 464, 494 and 524 W. Calle Primera and 2325 Via Tercero in San Ysidro. Partners Capital Inc. acquired the asset for $15 million. Known as Border Commerce Center, the 69,530-square-foot park offers 51 suites, averaging 1,200 square feet in size. At the time of sale, the property was fully leased. Matt Harris and Matt Pourcho of CBRE represented the seller in the transaction.
WEST SACRAMENTO, CALIF. — The Bascom Group, in partnership with funds managed by Oaktree Capital Management, has purchased The Strand, a multifamily property in West Sacramento, for $126 million, or $308,824 per unit. Built in 2021 by MBK Rental Living, The Strand features 408 junior one-bedroom, one-bedroom, two-bedroom and three-bedroom units. Community amenities include two pools and spas, indoor and outdoor fitness centers, a clubhouse, dog park and electric vehicle charging stations. Louis Friedel, Clay Akiwenze and Hank Workman of Berkadia arranged the debt financing for the acquisition. Luke Goodwin and Alex Porter of Walton Street Capital provided the acquisition loan. Berkadia’s investment sales team, led by Jason Parr and Scott MacDonald, represented the seller. Sares Regis will provide property management services.
SAN DIEGO — JLL Capital Markets has negotiated the sale of a 9.3-acre redevelopment site consisting of a 185,051-square-foot former department store in San Diego. A joint venture between Jofa Capital and BLT Enterprises acquired the asset from a private seller for an undisclosed price. Located at 1555 Camino De La Reina, the redevelopment site is adjacent to the Mission Valley Mall. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL Capital Markets Investment and Sales Advisory team represented the seller in the deal.
FAIRFIELD, CALIF. — CBRE has brokered the sale of Green Tech Plaza, a research-and-development facility and industrial site at 5253 Business Center Drive in Fairfield. Eastbourne Investments sold the asset to ATI Windows for $11.5 million. Built in 2000 as a call center, Green Tech Plaza offers 103,128 square feet of space, more than 721 parking stalls and over 40,000 square feet of solar panels. Additionally, the building is entitled for the addition of two docks and two grade-level doors. The new owners plan to use the property as a showroom, office and light manufacturing facility. Brooks Pedder, Tony Binswanger and Matt Post of CBRE represented the seller and buyer in the transaction.
COLTON, CALIF. — Progressive Real Estate Partners has brokered the $5.2 million sale of a single-tenant retail property located in Southern California’s Inland Empire occupied by a Mobil Gas Station. Victor Buendia of Progressive represented both the undisclosed seller and buyer, an Inland Empire-based private investor, in the transaction. The buyer plans to renovate the convenience store.
ORANGE, CALIF. — Premier Design + Building Group has broken ground on Orange Logistics Center, the firm’s first project for IDI Logistics in the Western region. Orange Logistics Center will feature two industrial facilities offering a total of 285,719 square feet. The 189,519-square-foot Building 1 will offer 10,000 square feet of office space, a clear height of 36 feet, 25 dock doors and 172 parking spaces. The 99,200-square-foot Building 2 will include a 10,000-square-foot office space, a clear height of 32 feet, 11 dock doors and 106 parking spaces. The facilities will include sustainable features such as a carbon reduction slab system and are designed to achieve LEED certification, with the potential for Silver status. The project team includes HPA Architecture, HSA & Associates, Thienes Engineering, General Underground Fire Protection, Guy Yocom Construction, Engineering Resources and Hunter Landscape. Lee & Associates is serving as the project’s real estate broker.
SAN DIEGO — JLL Capital Markets has arranged $46.5 million in construction financing for Stella Apartments, a multifamily development in San Diego. Aldon Cole, Bryan Clark and Bharat Madan of JLL Capital Markets’ Debt Advisory secured a three-year floating-rate loan through Buchanan Mortgage Holdings, an affiliate of Buchanan Street Partners, for the borrower, Murfey Cos. Located at 3104 El Cajon Blvd. in San Diego’s North Park neighborhood, the nine-story, 73,243-square-foot residential property will offer 149 studios, one- and two-bedroom units. Onsite amenities will include a rooftop terrace, community gym, large outdoor amenity space and lobby. Murfey Co., a vertically integrated developer, plans to begin construction this quarter with completion expected in second-quarter 2027.
BANNING, CALIF. — Marinita-Sage Rancho LLC has completed the disposition of Sun Lakes Village, a retail property in Banning, to a private investor for $8.7 million. Located at 300 S. Highland Springs Ave., Sun Lakes Village offers 97,380 square feet of retail space. Current tenants at the property include Hobby Lobby, Marshalls and Big Five. Paul Bitonti of Marcus & Millichap represented the seller and procured the buyer in the deal.
HUNTINGTON BEACH, CALIF. — DJM Capital Partners has sold its ownership stake of Bella Terra, a 1 million-square-foot mixed-use development in Huntington Beach. DJM has managed and co-owned the property since 2005. The property is now fully owned by PGIM Real Estate, DJM’s long-term partner in Bella Terra. Terms of the deal were not disclosed.
BERKELEY, CALIF. — Gilbane Development Co. has broken ground on Pique, a 485-bed student housing project located at 2587 Telegraph Ave. near the University of California (UC) Berkeley campus. The eight-story community will offer 52 units with bed-to-bath parity. Shared amenities will include an indoor and outdoor fitness center and yoga studio, outdoor study space, a cabana area, two rooftop decks, a coworking lounge, smart food lockers, private study pods and 2,900 square feet of ground-floor retail space. The project will begin leasing in fall 2025 with occupancy scheduled for summer 2026. The development site was formerly occupied by retailer Buffalo Exchange. “We are focused on making every inch count with efficiency, privacy and functionality at the core of the design, driving innovation that caters to the needs of Berkeley students at an affordable price point,” says Christian Cerria, development director with Gilbane.
