California

Clarion Partners, Lincoln Property Co. Open 200,000 SF Creative Office Building in Santa Monica

by Nellie Day September 26, 2017

SANTA MONICA, CALIF. — Clarion Partners and Lincoln Property Co. have opened The Pen Factory, a 200,000-square-foot creative office project. The building is located at 2701 Olympic Blvd. in Santa Monica. The property was originally built in 1957 as the Paper Mate plant. The adaptive-reuse project is now a creative office community that encourages a casual, open and flexible work environment for growing companies. The new design separates space into two buildings with mezzanine levels. It features energy-efficient roofing and skylights along with industrially scaled curtain walls. Morley Builders built the project, which Skidmore Owings & Merrill designed.

September 26, 2017

California Multifamily Western

Kennedy Wilson Buys 210-Unit Latitude Apartments in Happy Valley for $58M

by Nellie Day September 25, 2017

HAPPY VALLEY, ORE. — Kennedy Wilson has purchased the 210-unit Latitude Apartments in Happy Valley for $58 million. The community is located at 11282 S.E. Causey Circle. Latitude Apartments was built in two phases between 2008 and 2014. It is situated near Clackamas Town Center. Amenities include a dog run and grooming station, electronic parcel lockers, bike repair station, fitness facility, pool, basketball court and direct-entry garages. HFO represented both the buyer and the seller, the Reliant Group, in this transaction.

September 25, 2017

California Multifamily Seniors Housing Western

Living Care Lifestyles Breaks Ground on 120-Unit Community in Visalia

by Nellie Day September 25, 2017

VISALIA, CALIF. — Living Care Lifestyles has broken ground on Quail Park at Shannon Ranch, a 120-unit independent living and memory care community in Visalia, located in the San Joaquin Valley midway between Los Angeles and San Francisco. Navigator Development Group is developing the property. Living Care Lifestyles, Kaweah Delta Health Care District, Shannon Senior Care LLC and BTV Senior will be co-owners once the project is completed. Teter A+E and Fresno/Visalia are providing architectural and design services. The project is scheduled for completion in early 2019. Living Care Lifestyles was founded in 1999 and has senior living communities in California, Washington, Texas and Oregon.

September 25, 2017

California Industrial Western

Omnia Pacific Construction Completes Renovation at Industrial Project in Montebello

by Nellie Day September 25, 2017

MONTEBELLO, CALIF. — Omnia Pacific Construction has completed renovations on a 21,000-square-foot industrial property in Montebello. The project included a series of tenant improvements. Omnia Pacific will now commence work on an 8,000-square-foot tenant improvement project at a Los Alamitos office building.

September 25, 2017

California Retail Western

InvenTrust Properties Acquires Grocery-Anchored Center in San Fernando Valley for $115M

by Nellie Day September 22, 2017

LOS ANGELES — InvenTrust Properties Corp. has purchased River Oaks, a grocery-anchored retail center located in the San Fernando Valley submarket of Los Angeles. An undisclosed seller sold the property for $115 million. Target, Sprouts, buybuyBaby, ULTA, Total Women Gym & Spa, Pier 1 Imports and Big 5 Sporting Goods occupy the 275,000-square-foot retail center.

September 22, 2017

California Retail Western

Progressive Closes Three New Leases for Perris Marketplace in Perris

by Nellie Day September 22, 2017

PERRIS, CALIF. — Progressive Real Estate Partners has closed three new leases at Perris Marketplace, located at 1700 N. Perris Blvd. in Perris, bringing the retail center to 100 percent leased. Baskin Robbins, Jamba Juice and Daniel’s Jewelers have signed leases at the 225,000-square-foot retail center, which Walmart Supercenter anchors. Additional tenants at the center include Starbucks Coffee, Popeye’s, Pieology, Chipotle, Yogurtland, Dickey’s Barbecue, America’s Best Contacts and Eyeglasses, Pacific Dental and Sally Beauty Supply. Paul Gamarini and Gretchen Lastra of Progressive Real Estate Partners represented the owners/developers, Trachman Indevco and Evergreen, in the transactions.

September 22, 2017

California Retail Western

Pacific Coast Commercial Arranges 12,440 SF Retail Lease in La Jolla

by Nellie Day September 22, 2017

SAN DIEGO — Pacific Coast Commercial has arranged a retail lease for San Diego-based Furniture & Accessory Retail Group at 8650 Villa La Jolla Drive in La Jolla. The company will open a Bassett Home Furnishings location at the 12,440-square-foot space at La Jolla Square. Total consideration of the lease is $3.9 million. Shirley Kanamu of Pacific Coast Commercial represented the tenant, while Reg Kobzi of CBRE represented the landlord, Florida-based 8650 Villa La Jolla Inc., in the deal.

September 22, 2017

California Retail Western

Sephora to Open New Location at Pacific Commons in Fremont

by Nellie Day September 22, 2017

FREMONT, CALIF. — Sephora has opened a new location at Vestar’s Pacific Commons, a 1.1 million-square-foot shopping center located at 43484 Boscelli Road in Fremont. The store will feature an assortment of makeup, skin care and fragrance. Additional tenants at the center include Nordstrom Rack, Old Navy, Kohl’s, Century Theatres, P.F. Chang’s China Bistro, Claim Jumper and Dickey’s Barbecue Pit.

September 22, 2017

California Office Western

MDC Realty Advisors Purchases Creative Office Building in Santa Monica for $30.5M

by Nellie Day September 21, 2017

SANTA MONICA, CALIF. — MDC Realty Advisors has purchased a 23,551-square-foot creative office building in Santa Monica for $30.5 million. The Class A building is located at 1315 Lincoln Blvd. The property is fully leased. It features units with individual patio areas, parking and a first-floor gym. The seller was JOSS Realty Partners.

September 21, 2017

California Multifamily Western

The Bascom Group Buys Casanova Grove Apartments in Monterey for $16.7M

by Nellie Day September 21, 2017

MONTEREY, CALIF. — The Bascom Group has purchased the 76-unit Casanova Grove Apartments in Monterey for $16.7 million. The community is located at 930 Casanova Ave. Casanova Grove is less than two miles from the Pacific Ocean with the Pacific Coast Highway just a mile away. The group plans to implement a renovation plan, which will include amenity upgrades, exterior redesigns and interior renovations. Anthony Lugo represented Bascom, while Erich Pryor and Thomas Sherlock of Talonvest Capital arranged the acquisition loan from NXT Capital.

September 21, 2017

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