California

EAH Housing Starts Construction of 48-Unit Affordable Housing Development in West Hollywood

by Amy Works April 25, 2025

WEST HOLLYWOOD, CALIF. — EAH Housing has commenced construction for Lexington Gardens, an affordable housing property in West Hollywood. Located at the corner of Detroit Street and Lexington Avenue, Lexington Gardens offers 47 studio apartments ranging in size from 383 square feet to 447 square feet and one two-bedroom, 869-square-foot manager’s unit, all with energy-efficient appliances, window coverings and walk-in closets. The five-story community will serve families and individuals earning 30 percent and 60 percent of local area median income (AMI). Designed by DE Architects and built by Walton Construction, Lexington Gardens will offer a range of indoor and outdoor amenities, including onsite vehicle and bicycle parking, a community room, shared open spaces, laundry and a dedicated management office. EAH Housing will also provide resident services through an onsite resident services coordinator and collaborate with local organizations to offer specialized programs aimed at enhancing residents’ well-being.

April 25, 2025

California Development Hospitality Western

R.D. Olson Construction Completes 194-Room AC Hotel Pasadena in California

by Amy Works April 24, 2025

PASADENA, CALIF. — On behalf of Welcome Group Inc., R.D. Olson Construction has completed the development of AC Hotel Pasadena located at 19 S. Madison Ave. in Pasadena. Completed in 21 months, the 100,000-square-foot AC Hotel Pasadena features 194 guest rooms and a bar and cafe serviced by an onsite kitchen. The project also includes 5,000 square feet of leasable space on the first floor along with an event space for planned gatherings. The project team for the $60 million hotel included AXIS, Saiful Bouquet and Wild Muse (formerly known as Design Force).

April 24, 2025

Acquisitions California Industrial Lee & Associates Western

Lee & Associates Brokers $20.8M Sale of Arrow Grand Business Park in Covina, California

by Amy Works April 24, 2025

COVINA, CALIF. — Lee & Associates has negotiated the sale of Arrow Grand Business Park, an industrial property at 753-759 Arrow Grand Circle in Covina. CTT Tools Inc. sold the asset to 2Trees LLC for $20.8 million, or $290.52 per square foot. The 71,762-square-foot property offers 10,000 square feet of office space. Nathan Lara and Jack Nersesian of Daum listed the property, while Justin Chiang and Kevin Ching of Lee & Associates served as procuring agents for the transaction.

April 24, 2025

California Loans Multifamily Western

Affinius Capital Originates $148.5M in Refinancing for 800 Broadway Multifamily Community in San Diego

by Amy Works April 23, 2025

SAN DIEGO — Affinius Capital has closed a $148.5 million loan to refinance 800 Broadway, a newly built high-rise multifamily property in San Diego. The loan was made to an affiliate of Diamond Realty Investments. James Burrell of Northmarq arranged the financing. The 40-story building offers 356 market-rate apartments and 33 affordable units, ranging from studio and one-/two-bedroom apartments to two-/three-bedroom penthouses. The units feature private patios/balconies, Whirlpool stainless steel appliances, nine-foot ceilings, in-unit washers/dryers, quartz countertops, frameless glass showers and porcelain tubs, modular closet shelving, luxury vinyl and tile flooring, gas stoves, under cabinet lighting and pendant island lighting. Onsite amenities include a rooftop deck with swimming pool and hot tub, speakeasy bar, outdoor lounge with fire pits and grilling stations, a clubroom, coworking space and business center, TV and game lounge, fitness center with yoga studio, pet spa and dog walk, bike storage and repair station, electric vehicle charging stations and a 24-hour concierge. Additionally, 800 Broadway offers 4,830 square feet of commercial space.

April 23, 2025

Acquisitions California Retail Western

Capital Investment Network Disposes of 35,013 SF Oceanside Square Retail Center in California

by Amy Works April 23, 2025

OCEANSIDE, CALIF. — Capital Investment Network has completed the disposition of Oceanside Square, a shopping center at 4750 Oceanside Blvd. in Oceanside. A San Francisco-based buyer, in a 1031 exchange, acquired the asset for $11.6 million. Oceanside Square offers 35,013 square feet of retail space occupied by 21 tenants. At the time of sale, the property was 95.1 percent leased. Originally built in 1990, Oceanside Square underwent substantial capital improvements in 2022 and 2024. Ross Sanchez and Nick Totah of Marcus & Millichap’s San Diego Del Mar office represented the seller in the transaction.

April 23, 2025

Acquisitions California Industrial Western

Steel Peak Sells Industrial Outdoor Storage Property in San Diego for $3.8M

by Amy Works April 23, 2025

SAN DIEGO — Steel Peak, a commercial real estate investment firm, has completed the sale of an industrial outdoor storage (IOS) property located at 6975 Camino Maquiladora in San Diego. RojoWood Lumber & Building Supply acquired the asset for $3.8 million. The property includes a functional industrial building with shop and office space, as well as a large excess yard for outdoor storage of vehicles, equipment and materials. The asset offers close proximity to Interstate 5 Freeway, 905 Freeway and the United States-Mexico border. Rob Hixson and James Hixson of CBRE represented the seller, while Rabin Salehi of CBRE represented the buyer in the transaction. Steel Peak originally purchased the property in December 2024 for $2.6 million and made significant improvements to the property. This sale is the company’s first exit out of its five-property portfolio of IOS facilities in the San Diego market.

April 23, 2025

Acquisitions California Industrial Western

NAI Capital Arranges $52.4M Sale of Industrial Facility in Carson, California

by Amy Works April 22, 2025

CARSON, CALIF. — NAI Capital Commercial has negotiated the purchase of a single-tenant industrial facility at 1055 Sandhill Ave. in Carson. Rexford Industrial sold the asset to Carson Warehouse Corp. for $52.4 million, or $410 per square foot. Ryan Campbell of NAI Capital Commercial represented the buyer, while Frank Schulz and David Prior of The Klabin Company represented the seller in the deal. Built in 2024, the 127,775-square-foot move-in ready building features 19 dock-high doors, 10 hydraulic pit levelers, a clear height of 32 feet, LEED Gold certification and 6,998 square feet of high-end, two-story office space. Additionally, the property offers ESFR sprinklers, heavy power and a 130-foot concrete truck court. The buyer plans to convert a significant portion of the facility into cold storage, including freezers and coolers to support its food distribution operations.

April 22, 2025

California Development Multifamily Seniors Housing Western

EAH Housing Reopens Rodeo Gateway Seniors Housing Community in Rodeo, California

by Amy Works April 22, 2025

RODEO, CALIF. — EAH Housing has reopened Rodeo Gateway, a seniors housing property in Rodeo, after implementing interior and exterior upgrades to residences and common spaces. Rodeo Gateway features 49 one-bedroom apartments for seniors aged 62 and older and a two-bedroom manager’s unit. Community amenities include a landscaped courtyard, tree-lined walkways, comfortable seating areas and resident amenities, including a sunroom, computer lab and fully equipped community kitchen. The rehabilitation included upgraded residences with new energy-efficient appliances, high-efficiency LED lighting, new flooring and updated kitchen and bathroom cabinetry, sinks and fixtures; enhanced ADA-compliant amenities, including roll-in showers and improved mobility features; and a newly designed community room with new furnishings, flooring, paint and window coverings. Additional enhancements include improved air circulation in common hallways and new security features, such as an updated entry call system with key fob access and a new Wi-Fi system.

April 22, 2025

24011-24031-Marquerite-Pkwy-Mission-Viejo-WA

Acquisitions California Retail Western

Hanley Investment, Walseth Investment Co. Broker $11.6M Sale of Shopping Center in Mission Viejo, California

by Amy Works April 22, 2025

MISSION VIEJO, CALIF. — Hanley Investment Group Real Estate Advisors and Walseth Investment Co. have negotiated the $11.6 million sale of a shopping center located at 24011-24031 Marguerite Parkway in Mission Viejo. Kevin Freeman, Bill Asher and Ed Hanley of Hanley Investment Group represented the seller, a Colorado-based private investment company, while Michael Walseth of Walseth Investment Co. represented the buyer, an Orange County, Calif.-based regional grocery store operator, in the transaction. Built in 1973 on 3.4 acres, the shopping center offers 51,312 square feet of retail space. Current tenants include A Cut Above, Little Caesars and Leslie’s Pool Supplies. The vacant, 37,118-square-foot Orchard Supply Hardware store comprises more than 72 percent of the center’s total square footage. The asset underwent a facade remodel in 2016.

April 22, 2025

California Industrial Loans Western

MMCC Secures $4.3M in Refinancing for Industrial Property in Vista, California

by Amy Works April 22, 2025

VISTA, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $4.3 million for the refinancing of an industrial building located at 2270 La Mirada Drive in Vista. Kevin Elliott of MMCC secured the financing with a local credit union for the undisclosed borrower. Terms of the 10-year loan include a 6.3 percent interest rate with a 30-year amortization period and a 60 percent loan-to-value. Beacon Building Products, a distributor of roofing, waterproofing and related exterior products in the United States and Canada, occupies the 4,800-square-foot facility.

April 22, 2025

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