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9890-Irvine-Center-Dr-Irvine-CA
AcquisitionsCaliforniaOfficeWestern

CBRE Negotiates $2.6M Sale of Two-Story Office Building in Irvine, California

by Amy Works

IRVINE, CALIF. — CBRE has arranged the sale of an office building located at 9890 Irvine Center Drive in Irvine. Navigators Advisory Group acquired the property from ICD Equities for $2.6 million. Built in 2007, the two-story 4,950-square-foot building features a mix of open and private offices. Recent upgrades include a loft-style creative design that features open ceilings and exposed ducting. Jeff Carr and Jonathan Carr of CBRE represented the seller, while Blake Garrett of The Feed Group represented the buyer in the transaction.

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The-Oaks-Thousand-Oaks-CA
AcquisitionsCaliforniaLoansRetailWestern

Marathon Asset Management Provides $164M Acquisition Loan for Shopping Mall in Thousand Oaks, California

by Amy Works

THOUSAND OAKS, CALIF. — Marathon Asset Management has provided a $164 million mortgage loan for the acquisition of The Oaks, a shopping mall located in Thousand Oaks, roughly 38 miles west of Los Angeles. Stockdale Capital Partners was the borrower. Nordstrom, Dick’s Sporting Goods and AMC Theatres anchor the 1.2 million-square-foot property, which is situated on 85 acres. Other tenants at the center include Apple, Anthropologie, Zara, H&M and Arhaus. Joseph Griffin of Marathon originated the loan. Greg Stampley and Jessica Henning of Eastdil Secured arranged the financing on behalf of Stockdale.

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2600-Michelson-Dr-Irvine-CA
AcquisitionsCaliforniaOfficeWestern

CBRE IM Disposes of 310,925 SF Office Building in Irvine, California for $42M

by Amy Works

IRVINE, CALIF. — CBRE IM has completed the disposition of 2600 Michelson Drive, a 16-story office building in Irvine, to a Southern California-based private investor for $42 million. Anthony DeLorenzo, Todd Tydlaska, Sean Sullivan, Sammy Cemo, Bryan Johnson and Grant Goldman of CBRE Investment Properties represented the seller in the deal. Located on 4.6 acres in the Greater Airport submarket of Orange County, Calif., the 310,925-square-foot office property includes an adjacent five-level parking structure with 1,013 spaces. Built in 1986, the property has undergone extensive renovations. The asset features a two-story lobby and mezzanine, car charging stations, a conferencing facility, fitness center and MJ’s Café Irvine. Additionally, the building offers immediate access to Interstate 405 and State Routes 55 and 73. This year, the Jamboree-Michelson Pedestrian Bridge will be completed, connecting the building with walkable retail, residential and hospitality amenities.

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AcquisitionsCaliforniaRestaurantRetailWestern

Valore Ventures Sells 3,895 SF Restaurant Property in Fontana, California

by Amy Works

FONTANA, CALIF.  — Valore Ventures has sold a 3,895-square-foot single-tenant restaurant property in the Los Angeles suburb of Fontana. McDonald’s occupies the property on a 20-year ground lease. Construction of the building was completed in December 2024. Matthew Mousavi and Patrick Luther of SRS Real Estate Partners represented Valore Ventures in the transaction. Joe Linkogle of Marcus & Millichap represented the buyer, a private trust.

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Vive-Luxe-San-Diego-CA
CaliforniaLoansMultifamilyWestern

JLL Secures $188M Loan for Vive Luxe Multifamily Community in San Diego

by Amy Works

SAN DIEGO — JLL Capital Markets has secured a $188 million loan on behalf of Sunroad Enterprises for Vive Luxe, a multifamily property in San Diego’s Kearny Mesa submarket. Aldon Cole, Tim Wright and Bharat Madan of JLL Capital Market’s Debt Advisory team secured the five-year, fixed-rate loan for the borrower from accounts managed by KKR, a global investment firm. Located at 4890 Sunroad Centrum Lane, Vive Luxe offers 442 one-, two- and three-bedroom apartments, ranging from 726 square feet to 1,122 square feet. Each unit offers stainless steel appliances, gourmet kitchens, quartz countertops and open concept living spaces. Onsite amenities include a swimming pool with clubhouse and spa, fitness center, wine lounge, sky deck and ocean lounge. The property also offers 23 affordable units.

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16200-Ventura-Blvd-Encino-CA
AcquisitionsCaliforniaOfficeWestern

Soma Encino Sells 55,207 SF Office Building in Encino, California

by Amy Works

ENCINO, CALIF. — Soma Encino LLC has completed the disposition of an office building located at 16200 Ventura Blvd. in Encino to PS Country Club LLC for an undisclosed price. Built in 1974, the four-story building offers 55,207 square feet of office space that recently underwent extensive capital improvements, including upgrades to common areas and restrooms, a tenant lounge with a kitchen area, a new roof and an HVAC system. At the time of sale, the building was 86 percent occupied by 70 tenants, each occupying an average of 600 square feet.   Mark Shaffer, Michael Longo, Grant Goldman, Anthony DeLorenzo, Gerard Poutier and Dylan Rutigliano of CBRE Investment Properties represented the seller in the transaction.

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Bridgepoint-Shopping-Center-San-Mateo-CA
AcquisitionsCaliforniaRetailWestern

JLL Brokers $127M Sale of Bridgepointe Shopping Center in San Mateo, California

by Amy Works

SAN MATEO, CALIF. — JLL Capital Markets has brokered the $127 million sale of Bridgepointe Shopping Center in San Mateo, roughly 20 miles south of San Francisco. Originally developed in 1988 and renovated in 2023, the 231,700-square-foot property spans 23.7 acres. Tenants at the center, which was fully leased at the time of sale, include Ross Dress for Less, Marshalls, Nordstrom Rack, Total Wine & More, Chick-fil-A, Five Below and The Container Store. Eric Kathrein, Daniel Tyner, Geoff Tranchina, Greg Lvovich, Warren McClean and Danny Finkle of JLL Capital Markets represented the seller, Nuveen Real Estate, in the transaction. Additionally, JLL procured the buyer, a joint venture between Sterling Organization and Cohen & Steers, and secured acquisition financing.

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CaliforniaLoansRetailWestern

BWE Secures $20M Bridge Loan for Retail Outparcel Redevelopment in Merced, California

by Amy Works

MERCED, CALIF. — BWE has secured a $20 million bridge loan to finance the redevelopment of an outparcel adjacent to Marketplace at Merced in Merced. Sears formerly occupied the 85,000-square-foot property. The project will include a complete interior renovation, as well as the addition of two pad sites totaling 6,164 square feet. The redevelopment was fully preleased at the time of financing. Tenants at the property will include Ulta Beauty, Five Below, Petco, Rack Room Shoes and Burlington Coat Factory. Mike Guterman of BWE arranged the 30-month loan on behalf of the borrower. Citivest Commercial Investments LLC provided the financing.

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2170-Main-St-Oakley-CA.jpg
AcquisitionsCaliforniaRetailWestern

Marcus & Millichap Arranges Sale of 10,867 SF Retail Property in Oakley, California

by Amy Works

OAKLEY, CALIF. — Marcus & Millichap has arranged the sale of Main Street Shops, a retail center located at 2170 Main St. in Oakley. The developer, which built the property, sold the asset to a private investor for $4.6 million. Constructed in 2007, the 10,867-square-foot Main Street Shops consists of seven retail suites, including restaurants, dentists and salons. Quentin Caruso and Vince Schwab of Marcus & Millichap represented the seller and procured the buyer in the deal.

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Television-City
CaliforniaDevelopmentMixed-UseOfficeRetailTop StoriesWestern

Report: Los Angeles City Council Approves $1B Redevelopment of Television City Studios 

by Katie Sloan

LOS ANGELES — The Los Angeles City Council approved plans for the $1 billion redevelopment of Television City studios at 7800 Beverly Blvd. on Tuesday, according to reports by the Los Angeles Times.  The landmark property was designed by architect William Pereira and developed in 1952. The studios have since been home to TV programs including “The Carol Burnett Show,” “The Ed Sullivan Show,” “Wheel of Fortune,” “Good Times” and “All in the Family.”  The redevelopment project is headed by Hackman Capital Partners, which acquired the property from CBS in 2018 for $750 million. Multiple plans for the site have been submitted over the course of the past two years due to pushback from the local community, according to the LA Times. Owners of nearby establishments including A.F. Gilmore Co. of the Original Farmers Market and Grove LLC — which owns The Grove shopping center developed by Rick Caruso — have sided with neighborhood groups against the project claiming it was too big and would make local traffic significantly worse, according to the newspaper.  In response to these requests, Hackman worked with the city council to produce the recently approved plans for the project, which include the removal of 15-story, 150,000-square-foot office tower …

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