SAN DIEGO — CBRE has arranged the $10.4 million sale of Torrey Highlands Plaza, a 14,042-square-foot retail center in San Diego. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE represented the seller, Paragon affiliate TH Plaza LLC. Tim Mills of CBRE represented the buyer, Santa Monica Property Investors. At the time of sale, Torrey Highlands Plaza was fully leased to 10 tenants.
BURBANK, CALIF. — The Switch has subleased 24,700 square feet of space at KCETLink’s facilities at The Pointe in Burbank. The Switch will serve as the outsourced provider of all broadcast origination, master control and technical services to KCET and Link TV. The outsourcing decision comes after KCETLink Media Group received $63 million in auction proceeds. The deal includes the acquisition of the master control assets, production (studio and remote) facilities and certain satellite transmission assets. JLL’s Carl Muhlstein and Nicole Mihalka represented KCETLink in the sublease.
TEMECULA, CALIF. — French Valley Airport Center LLC has started construction of the first two phases of French Valley Airport Center in Temecula. The 26-building industrial project will be situated adjacent to Temecula Valley’s French Valley Airport. The initial two construction phases are slated for completion in June 2018. The buildings will each offer between 4,336 square feet to 7,300 square feet, with the potential to combine some buildings for up to 25,400 square feet. Architects Orange designed the property.
ALAMEDA, CALIF. — Kairos Power has leased 55,757 square feet of office space at West Tower 9 in Alameda. The office is located at 707 W. Tower Ave. West Tower 9 is a 1940s hanger/manufacturing building undergoing refurbishment on the former Naval Air Station at Alameda Point. The building is part of the Alameda Point revitalization, which includes a 68-acre, $500 million mixed-use development. Kairos Power is an energy technology and engineering company based in Oakland, Calif. Marc Ward and Elisa Konik of Cushman & Wakefield represented Kairos. The firm’s Ted Anderson, John McManus and Andrew Schmieder represented the landlord, Ernst Development, in this transaction.
THOUSAND OAKS, CALIF. — Charles Dunn Co. has completed the sale of a retail property located at 140 E. Thousand Oaks Blvd. in Thousand Oaks. A Southern California-based private investor sold the retail property to a private investor for $5.8 million. Wells Fargo Bank occupies the 7,396-square-foot building. Kyle Gulock, Matt Kramer and Brian Jensen of Charles Dunn Co. represented the seller in the transaction.
BANNING, CALIF. — Marinita Development Co. and Sage Invesco have added three new retailers to Sun Lakes Village Shopping Center, located at the intersection of Interstate 10 and Highland Springs Avenue in Banning. Chipotle, Mattress Firm and T-Mobile will occupy the three-tenant, 8,000-square-foot Phase II building at the shopping center. Sun Lakes Village Shopping Center features 210,398 square feet of retail space and 11 outparcels, including this building.
IRVINE, CALIF. — Home-based business company Home Franchise Concepts has leased 38,094 square feet of office space in Irvine. The Class A space will allow the company to expand its Orange County headquarters. The new office is located at 19000 MacArthur Blvd. The company is relocating from 25,000 square feet at 1927 N. Glassell St. in the City of Orange. It will occupy the new office in April 2018. Jason Ward and Greg Brown of Cushman & Wakefield represented the landlord, C.M. Stratplan.
LOS ANGELES — An investment affiliate of MedProperties Holdings has received a $160.6 million loan to acquire a 17-property medical and medical office portfolio that spans 10 states. The portfolio includes a total of 620,000 square feet. The majority of these assets are located off of hospital campuses. MedProperties is a Dallas-based private equity fund that invests in the development and acquisition of healthcare real estate. This includes medical office buildings, ambulatory surgery centers, inpatient rehabilitation facilities and surgical hospitals. MedProperties invests on a direct and an indirect basis through joint venture relationships. The firm develops new, value-add, and stabilized healthcare real estate, including multitenant medical office buildings and single-tenant specialty healthcare facilities. Capital One served as joint lead arranger, sole bookrunner and administrative agent on the loan transaction. Capital One Healthcare is a financial services provider across healthcare sectors, including seniors housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices.
LOS ANGELES — Thai Union North America has relocated to a 33,000-square-foot creative office campus in the Los Angeles submarket of El Segundo. The Class A campus is located at 2100, 2120 and 2150 Grand Ave. inside the Campus 2100 building. The new lease by Thai Union brings the campus to 94 percent occupancy. Travers Cresa represented Thai Union. Chris Sinfield and Tom Sheets of Cushman & Wakefield represented the landlord, a joint venture between Rockwood Capital and Marshall Property & Development, in this transaction.
IRVINE, CALIF. — Cloudvirga has leased 11,918 square feet of office space in Irvine. The space is located at 2875 Michelle Drive within Jamboree Business Center. The modern fintech company for the home lending industry will use the space as its corporate headquarters. The new office will allow the company room for growth. JLL’s Scott Wetzel represented Cloudvirga, while the landlord, Irvine Co., was represented in-house by Gavin Galey and Mike Santley.
