California

145-N-Pacific-St-San-Marcos-CA

SAN MARCOS, CALIF. — Stos Partners has completed the disposition of 145 N. Pacific Street in San Marcos to a private buyer, finalizing the disposition of its Benchmark Portfolio. The two-property portfolio sold for a combined $10.9 million. The Benchmark Portfolio comprised two freestanding industrial warehouses totaling 28,000 square feet in the submarkets of San Marcos and Poway, Calif. Both properties feature low site coverage and excess land. Stos Partners acquired the portfolio in 2020 in a joint venture with RanchHarbor for $6.1 million through an off-market transaction from an owner-user, which completed a five-year sale-leaseback at closing. Stos Partners implemented targeted capital improvements, repositioning the assets. The company sold the 18,000-square-foot property at 12575 Stowe Drive in Poway in July 2025 for $6.5 million. Tim Clepper of San Diego Commercial represented Stos Partners in the Poway deal. Matt Pourcho, Anthony DeLorenzo and Nick Williams of CBRE represented Stos Partners, while Josh West of Voit Real Estate Services represented the buyer in the San Marcos transaction.

FacebookTwitterLinkedinEmail
PSRS-Retail-San-Diego-CA

SAN DIEGO — PSRS has arranged $6.7 million in refinancing for a shopping center in San Diego. Totaling 65,000 square feet, the multi-tenant two-building property is occupied by Smart & Final, AutoZone and Big 5 Sporting Goods. Additionally, Burger King occupies a drive-thru restaurant pad site on a ground lease. Trevan Swierczewski and Alexander Santulis of PSRS secured the nonrecourse loan that was structured with a 15-year term and 15-year amortization.

FacebookTwitterLinkedinEmail

THOUSAND OAKS, CALIF. — Marcus & Millichap has arranged the sale of a 51,401-square-foot industrial redevelopment site at 670 Lawrence Drive in Thousand Oaks. The asset traded for $1.3 million. The names of the buyer and seller were not released. Christian Desnoes of Marcus & Millichap represented both parties in the transaction.

FacebookTwitterLinkedinEmail
Long-Beach-Towne-Center-Long-Beach-CA

LONG BEACH, CALIF. — CenterCal Properties and DRA Advisors have acquired Long Beach Towne Center with plans to redevelop the 870,000-square-foot property into a prominent retail and entertainment destination. Improvements will include new dining options such as chef-driven restaurants, fast-casual concepts and cafés; new retail brands; outdoor gathering areas with shaded seating, enhanced landscaping, public art and year-round programming; updated entertainment offerings with the addition of boutique fitness, wellness and family-oriented experiences; and renovated signage, lighting, pedestrian pathways and parking areas.

FacebookTwitterLinkedinEmail
1821-N-Tusin-St-Orange-CA

LA MIRADA, SANTA ANA AND ORANGE, CALIF. — Colliers has arranged the $15.5 million acquisition of two retail buildings and an industrial building in MidCounties. Totaling 36,441 square feet, the assets include 16211-16217 Heron Avenue in La Mirada, 1268 S. Grand Avenue in Santa Ana and 1821 N. Tustin Street in Orange. The three buildings were fully occupied at the time of sale. Chuck Wilson of Colliers represented the buyer, Rancho De Los Cazadores, in the deal. The buyer acquired the portfolio as part of a 1031 exchange and Southern California expansion plan.

FacebookTwitterLinkedinEmail
Kettner-Crossing-San-Diego-CA

SAN DIEGO — R.D. Olson, an Irvine, Calif.-based general contractor, has completed the construction of Kettner Crossing, a $30 million affordable housing community situated in San Diego’s Little Italy neighborhood. Bridge Housing Corp. was the developer. Totaling 64 units, the residences are reserved for seniors age 62 and older earning no more than 30 to 60 percent of the area median income. The building also features 2,200 square feet of commercial office space available for lease. Amenities at the community include a rooftop overlooking North San Diego Bay, an open-air turf space, community room and library. A majority of the units (55) feature one-bedroom layouts, and the remaining units are a mix of two-bedroom and studio apartments. The County of San Diego provided the land as well as some financing for the development, which took two years to complete, and partnered with Bridge Housing Corp. to bring the project to fruition. Specifics of the funding were not disclosed, but the state issued $2.5 million in federal low-income housing tax credits to the capital stack. The project team also included architect AVRP Studios, construction manager JLL and civil engineer Fuscoe Engineerings.

FacebookTwitterLinkedinEmail
Starbucks-Cafe-Santa-Barbara-CA

SANTA BARBARA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant retail property located at 402 N. Milpas St. in Santa Barbara. A Los Angeles-based developer sold the asset to a San Francisco-based 1031 exchange investor for $3.7 million. Sean Cox and Bill Asher of Hanley Investment Group represented the seller, while the buyer was self-represented. The 2,149-square-foot Starbucks Coffee location, which opened in April, features the company’s new café-only prototype design.

FacebookTwitterLinkedinEmail
57990-29-Palms-Hwy-Yucca-Valley-CA

YUCCA VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail building at 57990 29 Palms Highway in Yucca Valley. A Los Angeles County, Calif.-based private investor sold the asset to a Los Angeles County-based private investor for $1.9 million. Crazy Bargains, Luxury Nail Spa and No Limits Boutique are tenants at the 13,593-square-foot property. Lance Mordachini of Progressive Real Estate Partners represented the seller, while the buyer was self-represented in the transaction.

FacebookTwitterLinkedinEmail

BEVERLY HILLS, CALIF. — Cain International has provided updates on One Beverly Hills, a 17.5-acre mixed-use project in metro Los Angeles that is valued at roughly $10 billion. Luxury fashion brand Dolce & Gabbana, as well as restaurants Casa Tua Cucina and Los Mochis, have been confirmed as three of the first tenants within the development’s 200,000-square-foot retail district, which is planned to ultimately feature 45 shopping and dining options. In addition, construction is underway on Aman Beverly Hills, which will consist of a 78-suite hotel, two residential towers, a private club and 10 acres of botanical gardens and open space. The latter element will connect The Beverly Hilton hotel, which is currently being renovated, and the Waldorf Astoria Beverly Hills hotel. 

FacebookTwitterLinkedinEmail

SAN DIEGO — JLL Capital Markets has arranged $102.4 million in construction financing for the first phase of Otay Business Park, a speculative Class A industrial development in San Diego’s Otay Mesa submarket. The borrower is a joint venture between Elevation Land Co. and a real estate fund advised by Crow Holdings Capital. Aldon Cole and Ben Choromanski of JLL Capital Markets arranged the three-year, floating-rate loan through New York Life Real Estate Investors for the borrower. Phase I of Otay Business Park will deliver 612,240 square feet spanning four freestanding warehouse and distribution buildings, ranging from 79,760 square feet to 233,880 square feet. The single-story, reinforced concrete tilt-up structures will feature 32-foot clear heights and be divisible into suites as small as 45,000 square feet. Upon full build-out, the 119-acre Otay Business Park will feature 1.8 million square feet of industrial space across nine buildings. Construction for Phase I is underway, with completion slated for mid-2026. The project is expected to reach stabilization by mid-2027.

FacebookTwitterLinkedinEmail