LOS ANGELES — Charles Dunn Co. has arranged the sale of a retail and industrial building located at 437-441 S. Los Angeles St. in downtown Los Angeles. JVS Real Estate Investment purchased the property from 441 Los Angeles Street LLC for $3.7 million. The buyer plans to renovate the vacant, three-story, 15,538-square-foot building for its retail and wholesale business. Chris Runyen of Charles Dunn Co. represented the seller, while interPres Realty represented the buyer in the deal.
VAN NUYS, CALIF. — Marcus & Millichap has brokered the sale of a retail property located at 6650 Van Nuys Blvd. in Van Nuys. An individual/personal trust sold the property to a private investor for $1.4 million. The property features 6,253 square feet of retail space. Brandon Michaels and Justin Rappel of Marcus & Millichap represented both the seller and buyer in the deal.
LOS ANGELES — Kreation has signed a lease to open a organic pressed juice cafe at 11754-11756 San Vicente Blvd. in the Brentwood neighborhood of Los Angeles. The juicer leased a 2,273-square-foot space from GPI Cos. Currently, Kreation has 12 juiceries and three cafes. Hilton & Hyland represented the tenant, while Houman Mahboubi, Greg Briest and Devin Klein of JLL represented the landlord in the transaction.
LONG BEACH, CALIF. — Keely Partners has acquired the 22-unit Anaheim Road Apartments in Long Beach for $8 million. The community is located at 5401 E. Anaheim Road. It was built in 1987. The community contains 22 two-bedroom/two-bathroom units. Robert Stepp and Michael Toveg of Stepp Commercial represented both buyer and the seller, a private trust, in this transaction.
THOUSAND OAKS, CALIF. — Harbor Associates has purchased an office campus in the North Los Angeles submarket of Thousand Oaks for $22.9 million. The Conejo Corporate Campus is a 198,478-square-foot, low-rise office complex located at 2380 & 2400 Conejo Spectrum St. Conejo Corporate Campus recently underwent a significant renovation, including addition of numerous meeting and conference rooms, grand lobbies, a landscaped outdoor plaza, high speed fiber-optic internet and Venetian plastered walls.
SAN DIEGO — Providence II Centerpointe has sold a 60,431-square-foot flex industrial building in San Diego for $8.8 million. The building is located at 7720 Kenamar Court. The asset is fully leased to two tenants with long-term leases The buyer was 7720 Kenamar CT Holdings LLC. Colliers International represented Providence in the sale.
VALENCIA, CALIF. — A joint venture between Goldman Sachs Asset Management Private Real Estate (GSAM) and Harbor Associates has purchased Commons at Valencia Gateway, a 157,000-square-foot office building in the Santa Clarita submarket of Valencia. The Class A asset is situated directly off the I-5 freeway. The price was not disclosed. The partnership intends to implement a capital improvement program to refresh vacant suites and upgrade the overall appeal of the property for tenants. It will also introduce environmental initiatives that can improve the property’s brand.
LOS ALTOS, CALIF. — Briggs Development Corp. has purchased a two-story office building in the Silicon Valley submarket of Los Altos. Though the price and square footage were not disclosed, Colliers, which executed the sale, notes the asset sold for nearly $600 per square foot. The building is located at 4410 El Camino Real, near companies like Facebook, Google, Netflix, Apple and Stanford University. Briggs plans to revitalize the Class A project and improve the building and lot. Jason Allen, Dan Bergen and Doug Marks of Colliers represented the seller, a large wealth management client.
ORANGE, CALIF. — NKF Capital Markets has arranged the sale of Rusty Leaf Plaza, a neighborhood shopping center located at 2512 E. Chapman Ave. in Orange. A joint venture between Canyon Catalyst Fund and Paragon Commercial Group sold the property to Inland Real Estate Acquisitions for an undisclosed price in an off-market transaction. At the time of sale, the center was 98 percent occupied. Anchored by Target, the retail center also features a mix of service, medical and fast casual dining tenants. CJ Osbrink of NKF Capital Markets represented the seller in the deal.
TORRANCE, CALIF. — Faris Lee Investments has arranged the sale of Southwood Village, a neighborhood retail center located at 22214-22251 and 22217-22251 Palos Verdes Blvd. and 5230 Sepulveda Blvd. in Torrance. Los Angeles-based BIG Shopping Centers USA sold the property to a private investor for $21 million. Situated on 5.5 acres, the 66,958-square-foot property was built in the 1950s and renovated in 2013. At the time of sale, the property was 97 percent occupied by major tenants, including Dollar Tree, ACE Hardware, Goodwill and Chevron. Richard Chichester and Donald MacLellan of Faris Lee represented the seller, while Triwell Properties represented the buyer in the transaction.