California

Hanley Investment Group Negotiates $2.8M Sale of Single-Tenant Restaurant Property in Perris, California

by Amy Works July 5, 2018

PERRIS, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant retail property located at 51 E. Ramona Expressway in Perris. An Orange County, Calif.-based developer sold the property to a Los Angeles-based private investor for $2.8 million, or $1,364 per square foot. Del Taco occupies the 2,060-square-foot property, which was built in 2016, on a triple-net lease with more than 18 years remaining on its 20-year initial term. Eric Vu, Bill Asher and Ed Hanley of Hanley Investment Group represented the seller, while Paul Bahk of Realtex Properties represented the buyer in the transaction.

July 5, 2018

Acquisitions California Industrial Western

Rexford Industrial Realty Buys Industrial Property in Los Angeles for $22.5M

by Amy Works July 3, 2018

LOS ANGELES — Rexford Industrial Realty has acquired a single-tenant industrial property located at 12154 Montague St. in the Pacoima neighborhood of the Los Angeles-San Fernando Valley submarket. An undisclosed seller sold the property for $22.5 million, or $183 per square foot, in an off-market transaction. Situated on 4.9 acres, the fully occupied property features 122,868 square feet of industrial space.

July 3, 2018

Acquisitions California Industrial Western

JLL Brokers Sale of Two Industrial Buildings in San Diego Business Park

by Amy Works July 3, 2018

SAN DIEGO — JLL has arranged the sale of two light industrial buildings located within Scripps Ranch Business park in San Diego. Carroll Canyon Properties acquired the properties, located at 9965 Carroll Canyon Road and 9850 Businesspark Ave., from Hill Properties for an undisclosed price in an off-market transaction. At the time of sale, the buildings were fully leased to Kone and Foresight Sports. The two-building asset consists of 27,801 square feet on a 2.1-acre corner lot. Sach Kirpalani, Bob Prendergast and Lynn LaChapelle of JLL represented the seller in the deal.

July 3, 2018

Acquisitions California Development Hospitality Retail Western

Brixton Capital Purchases Former Police Station in California for $4.2M

by Amy Works July 3, 2018

EL CAJON, CALIF. — Brixton Capital has acquired the former El Cajon Police Station, located at 100 Fletcher Parkway in El Cajon, for $4.2 million. The seller was the City of El Cajon. The buyer plans to transform the 4.1-acre site in Fletcher Marketplace, a mixed-use project comprising approximately 16,000 square feet of retail space and a 60,000-square-foot hotel. Brixton will sell 1.4 acres of the site to Excel Hotel Group, which will handle the hotel development portion of the project. The retail center is 99 percent pre-leased to a variety of tenants, including In-and-Out, Blaze Pizza, California Fish Grill, Urbane Café and Mattress Firm. Dempsey Construction is serving as contractor for the retail development. Don Moser and Matt Moser of Retail Insite represented the buyer and seller in the transaction.

July 3, 2018

California Development Multifamily Western

SLIG Breaks Ground on Apartment Building in Hollywood

by Amy Works July 2, 2018

LOS ANGELES — Strategic Legacy Investment Group (SLIG), a Los Angeles-based private placement investment firm, has broken ground for La Mirada @ Central Park Smart Apartment, located at 5608 La Mirada Ave. in Hollywood. The 13,018-square-foot apartment building will consist of 13 units on a 7,500-square-foot R-3-zoned lot with mix of affordable and market-rate housing. The property will feature seven one-bedroom/one-bath units, six two-bedroom/two-bath units, smart home technology, a WiFi lounge and game room, modern European finishes, a pet-friendly community and a rooftop lounge with views of Hollywood. SLIG’s subsidiary, Strategic Legacy Management Corp., will handle the marketing and leasing of the property, which will be available for lease in December 2019. The project team includes Acraforma as architect and ESAB Construction for construction management.

July 2, 2018

Acquisitions California Retail Western

Hanley Investment Group, Voit Real Estate Services Negotiate $9.8M Sale of Shopping Plaza in Southern California

by Amy Works July 2, 2018

RANCHO CUCAMONGA, CALIF. — Hanley Investment Group Real Estate Advisors, in conjunction with Voit Real Estate Services, has arranged the $9.8 million sale of RC Plaza, a 37,239-square-foot retail center in Rancho Cucamonga, a city in San Bernardino County. Bill Asher and Ed Hanley of Hanley Investment Group, along with Joe Miller of Voit Real Estate Services, arranged the transaction on behalf of the seller, a private partnership based in Orange County. Eric Treibatch of Ophir Management Services Inc. represented the buyer, a private investor from Los Angeles. RC Plaza includes nine buildings and is home to tenants such as Starbucks Coffee and Pizza Hut. The center includes an additional 15,717-square-foot building that is separately owned and was not included in the sale.

July 2, 2018

Acquisitions California Retail Western

Marcus & Millichap Negotiates Sale of 52,388 SF Retail Property in Redlands

by Amy Works June 29, 2018

REDLANDS, CALIF. — Marcus & Millichap has arranged the sale of Park West Plaza, a retail property located at 415 and 461 Tennessee St. in Redlands. An undisclosed partnership sold the property for $6.2 million. Built in 1978 and situated on 3.8 acres, the retail asset features four buildings offering a total of 52,388 square feet. Chuck Shillington of Marcus & Millichap’s Ontario office represented the seller in the deal. The name of the buyer was not released.

June 29, 2018

Acquisitions California Office Top Stories Western

Vanbarton Group Acquires 21-Story Office Tower in San Francisco

by Kristin Harlow June 29, 2018

SAN FRANCISCO — Vanbarton Group LLC has acquired 101 Mission Street in San Francisco. The 206,455-square-foot, 21-story office tower is located in the heart of the South Financial Transbay District. The Class A property is currently 86 percent leased to tenants such as Wells Fargo, Forbes and Pearson. Although the price was not disclosed, Vanbarton received a $116.5 million acquisition loan for the transaction. The building, which is LEED Gold-certified by the U.S. Green Building Council, features views of the San Francisco Bay, column-free office space and 10,500-square-foot floor plates. Services and amenities include on-site property management, 24-hour security, a conference room and building shower. HKS Architects Inc. designed the property. JLL is the leasing agent. Gerry Rohm, Michael Leggett, David Dokko, Ben Bullock and Thomas Foley of HFF represented the undisclosed seller. Peter Smyslowski of HFF arranged acquisition financing. Vanbarton Group is a privately owned real estate investment and advisory firm with corporate offices in New York City and San Francisco. — Kristin Hiller

June 29, 2018

Acquisitions California Office Western

EverWest Acquires 261,959 SF Office Park in Burlingame, California

by Amy Works June 28, 2018

BURLINGAME, CALIF. — EverWest Real Estate Investors, in partnership with Partners Group, has purchased Burlingame Bay Office Park, located at 555 and 577 Airport Blvd. in Burlingame. The acquisition price was not released. Situated on 13 acres, office park comprises a 120,681-square-foot building and 139,413-square-foot building, offering a total of 261,959 square feet. Ryan Madison provided in-house represented for EverWest in the deal. The name of the seller was not disclosed.

June 28, 2018

California Development Industrial Western

CapRock Partners Breaks Ground on 18-Acre Industrial Park in Inland Empire West

by Amy Works June 28, 2018

JURUPA VALLEY, CALIF. — Newport Beach, Calif.-based CapRock Partners has broken ground on Serrano Business Park in Jurupa Valley within the Inland Empire corridor. Situated on 18 acres, the three-building industrial development will feature units ranging from 31,220 square feet to 179,030 square feet and deliver 327,000 square feet of modern industrial space to the market. Each building will offer two percent prism skylights and can provide up to 4,000-amp, 277/480-volt electrical power. Additionally, the properties will meet sustainability standards consistent with California Green Building Standards Code. To complement tenant needs, the project will incorporate 4,500 square feet of executive office space positioned between the three buildings. The facilities will also include a minimum door clearance of 32 feet and ample secured parking and truck courts. Serrano Business Park is scheduled for delivery in 2019.

June 28, 2018

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