California

Hanley Investment Group Arranges $2.7M Sale of Single-Tenant Retail Property in Palmdale, California

by Nellie Day November 8, 2017

PALMDALE, CALIF. — Hanley Investment Group has arranged the $2.7 million sale of a 24,695-square-foot retail property net-leased to Harbor Freight Tools in Palmdale, 70 miles north of Los Angeles. Mehran Foroughi of Colliers International represented the buyer, a private investor from Newport Beach, in the transaction. Jeremy McChesney represented the seller, Sage Investco. The property was constructed in 1957 and recently renovated. Harbor Freight Tools has more than 11 years remaining on the primary lease term with 10 percent rental increases and multiple five-year options.

November 8, 2017

California Office Western

Pinnacle RED Group Submits Plans for Mixed-Use High Rise in Oakland

by Nellie Day November 7, 2017

OAKLAND, CALIF. — Pinnacle RED Group has announced plans to build a mixed-use, two-tower high rise in Oakland. The 36-story property would be built at 1261 Harrison and, if completed, will be the tallest building in Oakland, according to the developers. The project will feature 185 units of market-rate and affordable housing, 120,000 square feet of Class A office space and 12,000 square feet of commercial/retail space. Lowney Architecture will design the project.

November 7, 2017

California Industrial Western

PDX Industrial Investments Buys Industrial Building in Los Angeles for $23M

by Nellie Day November 7, 2017

LOS ANGELES — PDX Industrial Investments has purchased a 141,951-square-foot industrial building in the Los Angeles submarket of Chatsworth for $23 million. The building is situated on 6.8 acres at 9401 De Soto Ave. The buyer plans to lease the building. Mark Esses of California Realty Group represented PDX. Patrick DuRoss, Jeff Abraham and John DeGrinis of Colliers International represented the seller, Rexford Industrial Realty, in this transaction.

November 7, 2017

California Office Western

Incipio Group Leases Office Space in Irvine

by Nellie Day November 7, 2017

IRVINE, CALIF. — Incipio Group has leased 70,000 square feet of office space at the Park Place mixed-use property in Irvine. The 105-acre campus is located at 3347 Michelson Drive. The mobile device accessories designer and manufacturer will utilize the space for its global corporate headquarters. JLL’s Byron Foss, Wade Tift and Nick Carey represented Incipio Group in the lease, while Bob Thagard of Cushman & Wakefield represented the landlord, LBA Realty, in this transaction.

November 7, 2017

California Loans Office Western

City Office REIT Receives $47M Loan to Acquire 290,000 SF Office Portfolio in San Diego

by Nellie Day November 6, 2017

SAN DIEGO — City Office REIT has received a $47 million loan to acquire Mission City Corporate Center, a 290,000-square-foot office portfolio in the San Diego submarket of Mission Valley. The four-building portfolio is located at 2355, 2365, 2375 and 2385 Northside Drive. The portfolio is 87 percent leased to tenants like Eplica Corporate Solutions, Mission Home Health, Midland Credit Management, State of California Water Resources and Innova Systems International. HFF’s Zack Holderman and Tim Wright arranged the 10-year, fixed-rate acquisition loan through one of the firm’s life insurance company lenders.

November 6, 2017

California Multifamily Western

Davlyn Investments Purchases Colony Apartments Near Los Angeles for $24.2M

by Nellie Day November 6, 2017

SIMI VALLEY, CALIF. — Davlyn Investments has purchased the 88-unit Colony apartments in the San Fernando Valley market of Simi Valley for $24.2 million. The Class A community is located at 1750 First St. Davlyn plans to rebrand the project as 1750 on First. The 31-year old, value-add property’s interior, exterior and grounds have been maintained, though the asset has never been renovated. The company plans to upgrade the interiors and enhance staffing and marketing. The seller was not disclosed. Vince Norris of Berkadia facilitated the purchase. Ryan Blair of City National Bank spearheaded the lending.

November 6, 2017

California Retail Western

Jade Enterprises Sells 334,939 SF Power Center in Murrieta for $56.6M

by Nellie Day November 3, 2017

MURRIETA, CALIF. — HFF has arranged the $56.6 million sale of Murrieta Town Center, a 334,939-square-foot shopping center in the Southern California town of Murrieta. Bryan Ley, Gleb Lvovich and Justin Kundrak of HFF arranged the transaction on behalf of the seller, Jade Enterprises. An affiliate of U.S. Realty Partners acquired the asset. Murrieta Town Center was 81 percent occupied at the time of sale by Burlington, Rite Aid, Ross Dress for Less, Marshalls, Famous Footwear, Dollar Tree and Sizzler.

November 3, 2017

California Loans Office Western

Menlo Equities Receives $39M in Financing for Towne Centre Office Campus in Foothill Ranch, California

by Nellie Day November 3, 2017

FOOTHILL RANCH, CALIF. — An affiliate of Menlo Equities LLC has received $39 million in financing for Towne Centre, a 292,271-square-foot office campus in the South Orange County submarket of Foothill Ranch. The Class A campus is located at 27042, 27051 and 27121 Towne Centre Drive. The property was renovated in 2016 and 2016. It is 77 percent leased to Ossur America, Rockwell Automation, Edward Jones, AVST, First National Capital, Fujitsu, Eagle Community Credit Union and Cox Communications. HFF’s Kevin MacKenzie, Greg Brown, Jamie Kline and Nick Lench arranged the five-year, floating-rate loan. Wells Fargo Bank provided the capital.

November 3, 2017

California Retail Western

Charles Dunn Co. Brokers $3.9M Sale of 3,727 SF Car Showcase in Beverly Hills

by Nellie Day November 3, 2017

BEVERLY HILLS, CALIF. — Charles Dunn Co. Has arranged the sale of a retail property located at 207-209 S. Robertson Blvd. In Beverly Hills. Pagani of Beverly Hills acquired the property from a Los Angeles-based limited liability company for $3.9 million. The buyer plans to renovate the 3,727-square-foot property and use it to showcase and sell its high-end supercars. Justin Mendelson and Joshua Berger of Charles Dunn Co. represented the buyer and advised the seller in the deal.

November 3, 2017

California Retail Western

Lee & Associates Negotiates $2.5M Sale of Retail Building in Tustin, California

by Nellie Day November 3, 2017

TUSTIN, CALIF. — Lee & Associates has brokered the sale of a retail building located at 535 E. Main St. within the Newport & Main Center in Tustin. Torrance, Calif.-based Rehka Bajaria & Farrand Investments sold the building to Tustin-based Ayala Capital Group for $2.5 million. The building features 4,748 square feet of space. Randy Dalby of Lee & Associates – North San Diego County and Tom Gioia of Lee Irvine represented the seller, while Silverpoint Advisors represented the buyer in the transaction.

November 3, 2017

Newer Posts

Older Posts