California

AMCAL, Swenson Break Ground on Student Housing Community Near San Jose State

by Nellie Day October 11, 2017

SAN JOSE, CALIF. — A joint venture between AMCAL Equities LLC and SWENSON has broken ground on The Graduate, a 1,039-bed student housing community located within one block of San Jose State University in San Jose. Shared amenities at the 19-story property will include a fitness center, swimming pool with spa, sundeck, barbecue grills, picnic area, bicycle storage and 14,750 square feet of retail space. Units on the top floor of the community will share an outdoor terrace with views of the city and campus. The development is set for completion in 2020.

October 11, 2017

California Office Western

Plaza Del Norte Buys The Courtyard I Office Building in San Diego for $9.2M

by Nellie Day October 11, 2017

SAN DIEGO — Plaza Del Norte has acquired The Courtyard I, a 50,405-square-foot office building in the Sorrento Mesa submarket of San Diego, for $9.2 million. The asset is located at 6480 Weathers Place. It was 68 percent leased at the time of sale. The three-story office building was built in 1989. Peter Curry and Brooks Campbell of Cushman & Wakefield represented the 1031 buyer. The firm’s Mark Avilla, Bill Cavanaugh and Mike Novkov represented the seller, Courtyard Mira Mesa LLC, in this transaction.

October 11, 2017

California Multifamily Western

Churchill Apartments in Pasadena Sells for $4.2M

by Nellie Day October 11, 2017

PASADENA, CALIF. — A local private investor has acquired the 16-unit Churchill Apartments in Pasadena for $4.2 million. The community is located at 450 S. Los Robles Ave. It was built in 1965. Units feature a patio or balcony, tuck-under parking spaces with wall storage boxes and a laundry room. Mike Vara of Charles Dunn Co. represented the buyer, while the firm’s Chuck Dunn represented the seller, Miller Trust, in this transaction.

October 11, 2017

California Multifamily Western

California Landmark Group Starts Construction of G8 Apartments in Marina Del Rey

by Nellie Day October 10, 2017

MARINA DEL REY, CALIF. — California Landmark Group (CLG) has started construction of the 230-unit G8 apartment community in the Marina Arts District adjacent to Marina del Rey. The $100 million community will be located at 13448 W. Beach Ave. in the Los Angeles submarket. Common-area amenities include a park, three courtyards with pools, collaborative indoor and outdoor workspaces, a fitness center, and a rooftop deck offering views of the city and ocean. The project will also include 25,000 square feet of renovated creative office space. G8 will be one of the largest multifamily developments to be built on Los Angeles’ Westside in several years, according to CLG.

October 10, 2017

California Retail Western

CBRE Arranges $10.4 Million Sale of Retail Center in San Diego

by Nellie Day October 10, 2017

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.

October 10, 2017

California Office Western

The Switch Subleases 24,700 SF of Broadcast Space in Burbank

by Nellie Day October 10, 2017

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.

October 10, 2017

California Industrial Western

Construction Begins on 26-Building Industrial Complex in Temecula

by Nellie Day October 9, 2017

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.

October 9, 2017

California Office Western

Kairos Power Leases 55,757 SF of Office Space at West Tower 9 in Alameda

by Nellie Day October 9, 2017

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.

October 9, 2017

California Retail Western

Charles Dunn Co. Facilitates $5.8M Sale of Single-Tenant Property in Thousand Oaks

by Nellie Day October 9, 2017

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.

October 9, 2017

California Retail Western

Marinita Development, Sage Invesco Add Three Retailers to Sun Lakes Village in Banning

by Nellie Day October 9, 2017

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.

October 9, 2017

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