LOS ANGELES — Marcus & Millichap has arranged the $10.3 million sale of La Brea Sunset Plaza, an 18,297-square-foot retail property in Los Angeles. Mike Malick and Aria Pournazarian of Marcus & Millichap arranged the transaction on behalf of the undisclosed seller and buyer. The two-story property was fully leased at the time of sale.
MOORPARK, CALIF. — MCA Realty has purchased a 137,465-square-foot industrial property in the Ventura County city of Moorpark. The two-building complex is located at 14399 and 14401 Princeton Ave. One of the buildings is leased to turbocharger manufacturer Turbonetics Holdings.
TEJON RANCH, CALIF. — Dollar General has expanded its presence at Tejon Ranch Commerce Center (TRCC) just south of Bakersfield with the addition of more than 240,000 square feet of warehouse space. The dollar store currently operates out of a separate building at TRCC. This expansion will allow retailer to increase its footprint by nearly 40 percent. Dollar General has used the Tejon Ranch Commerce Center as the hub of its California distribution operations for the last six years. With its expansion into the new Tejon Ranch-Majestic Realty-developed facility, it will now occupy a total of more than 850,000 square feet of space within TRCC.
LOS ANGELES — Cushman & Wakefield as arranged the $22.9 million sale of a retail property located on Melrose Avenue in West Hollywood. Kazuko Morgan and Carine Mamann of Cushman & Wakefield arranged the transaction on behalf of the buyer, a joint venture between L3 Capital and Guggenheim Real Estate. David Ickovicks of Commercial Asset Group represented the seller, American Commercial Equities. The 11,295-square-foot property includes 18 parking spaces and is home to Theory, DASH and Serna & Lily.
SAN DIEGO — Gild Property Group has arranged the $4.3 million sale of a retail building located at 1065 5th Ave. in San Diego. Tony Gild of Gild Property Group arranged the transaction on behalf of the seller, Maman Family Trust. 1065 5th Avenue LLC acquired the 20,000-square-foot building.
SAN DIEGO — Location Matters has arranged the $1.9 million sale of a restaurant building located at 5351 Adobe Falls Road in San Diego. Davles LLC, an affiliate of Cohn Restaurant Group, acquired the 5,485-square-foot building, which was vacant at the time of sale. Mike Spilky of Location Matters arranged the transaction on behalf of the seller, L&L Acquisitions LLC. The building was constructed in the 1950s and originally housed Nicolosi’s Italian Restaurant. The former owners renovated the building and operated the Junk House Restaurant there for several years.
CANOGA PARK, CALIF. — Newmark Knight Frank (NKF) has arranged an 85,653-square-foot lease with Vallarta Supermarkets at a shopping center in Canoga Park. The grocer will backfill the space formerly occupied by Vons. Mark Baziak and Geoff Foley of NKF arranged the 20-year lease on behalf of the landlord, Auburndale Properties. Springstead Associates represented Vallarta. The grocer is expected to move into the 150,000-square-foot center later this year. Additional tenants include T-Mobile, McDonald’s and El Pollo Loco.
OAKLAND, CALIF. — Un[CO]mmon, a coworking space company, has launched a new location in Oakland. The flexible office solution for high-growth companies is located at 1750 Broadway. Un[CO]mmon was created by Rubicon in 2017. It is aimed at teams and companies wanting the flexibility of a coworking experience with the branding, privacy and scalability of a more traditional office environment. The 10,000-square-foot, flexible, full-floor space has direct access to the 19th Street BART station. The office features three conference rooms, two phone booths, an open kitchen stocked with food and coffee, common lounge areas, and social meeting spaces. The first Un[CO]mmon space launched in San Francisco and reached capacity soon after its grand opening was announced. The company’s third location will open in the mid-market neighborhood of San Francisco later this year.
SAN FRANCISCO — George Smith Partners has secured $45 million in bridge refinancing for the 131-room San Francisco Proper Hotel in the city’s Mid-Market neighborhood. The flatiron building is located at 1100 Market St. at the triangle of McAllister, Market and Seventh streets. The new bridge loan will allow the borrower, Kor Group, to focus on its operations and further establish the property as a luxury lifestyle hotel in San Francisco. The funds will replace an existing construction loan and mezzanine facility, providing cost savings and flexibility for Kor. Malcolm Davies, Evan Kinne, Zack Streit, Rachael Lewis, Alexander Rossinsky and Minjoo Kim of George Smith Partners arranged the financing.
SACRAMENTO, CALIF. — BKM Capital Partners has acquired Expo Centre, a 122,253-square-foot, multi-tenant industrial business park in downtown Sacramento for $10.1 million. The seven-building park is located alongside the SR-160 at 1761 to 1791 Tribute Road. Expo Centre is currently 81 percent leased with in-place rental rates that are about 18 percent below market value. BKM plans to implement a series of capital improvements to reposition the property. BKM acquired the property from a private syndication managed by Sperry Equities. Palmer Capital represented the seller in this transaction.