LOS ANGELES — Harrison Street Real Estate Capital has purchased a 15-property self-storage portfolio for an undisclosed sum. The facilities are situated throughout California, Arizona, Colorado and Minnesota. The Trojan Self Storage Portfolio contains a total of 1.4 million square feet and 19,000 units. CBRE’s Nicholas Walker and his team represented both the buyer and seller, Trojan Storage, in this transaction.
SAN DIEGO — Coldwell Banker Commercial SC (CBC-SC ) has completed its expansion into a 4,000-square-foot space at the newly revamped Executive Square Plaza in the University Towne Center (UTC) area of San Diego. CBC-SC’s president, Brandon Sudweeks, says this expansion is part of the firm’s larger strategy within the San Diego region. The firm has grown from three agents just a few years ago to more than 30 agents in three offices. CBC-SC plans to add a few more agents to its newly expanded UTC office.
PASADENA, CALIF. — Dog Haus, a Pasadena-based gourmet hot dog, sausage and burger concept, has signed a development agreement with American Development Partners. The agreement includes the construction of over 300 new Dog Haus franchise locations in 12 states over the next seven years. The new locations will be built on land primarily purchased for built-to-suit and standalone Dog Haus Biergarten concepts, and will be operated by franchisees with multi-unit and multi-brand experience. The deal has a projected real estate, construction and design investment value of over $500 million. Dog Haus currently has 21 stores open in five states (Arizona, California, Colorado, Nevada and Utah), which will now grow to 19 states across the country with stores set to open in Alabama, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Michigan, Ohio, New York, Pennsylvania, Texas, Tennessee and Wyoming. American Development Partners’ primary role will be to aid in the development of new locations, and facilitate the acquisition of land and oversee construction of this deal’s new franchise locations.
SANTA BARBARA, CALIF. — Integral Senior Living (ISL), a seniors housing operator, has been chosen to manage The Oak Cottage of Santa Barbara, a memory care community in Santa Barbara. This will be the California-based operator’s first community in Santa Barbara.
SOLANA BEACH, CALIF. — CBRE has arranged the $33.3 million sale of BeackWalk, a 54,973-square-foot shopping center located in Solana Beach. Tenants at the center include California Pizza Kitchen, Alfonso’s of La Jolla, Rubio’s Coastal Grill and Banfield Pet Hospital. John Read, Philip Voorhees, Jimmy Slusher and Kirk Brummer of CBRE represented the buyer, a fund manager based in Chicago. The same team from CBRE, alongside Reg Kobzi of CBRE’s San Diego office, represented the seller, a partnership managed by The Muller Company.
VISTA, CALIF. — An unnamed buyer has acquired the 140-unit Las Palmas apartments in the San Diego submarket of Vista for $20.9 million. The community is located at 300 W. Los Angeles Drive. Las Palmas has floor plans ranging from one- to three-bedroom units. Amenities include a pool, fitness center, community lounge and covered parking. Chris Zorbas of IPA represented the buyer. JLL’s Darcy Miramontes and Kip Malo represented the sellers, FPA Multifamily and PCCP, in this transaction.
CARLSBAD, CALIF. — A high-net-worth 1031 exchange buyer has purchased a 64,165-square-foot creative office and industrial property in Carlsbad. The asset is located at 5858 Dryden Place. The space was 98 percent leased to 44 tenants. It includes a high-end creative office portion that serves as executive suites and a warehouse space currently occupied by the International Floral Trade Center. CBRE’s Matt Pourcho, Gary Stache and Anthony DeLorenzo represented the seller, Sunroad Enterprises, in this transaction.
OAKLAND, CALIF. — Oracle has signed a six-year lease for 16,000 square feet of space in downtown Oakland. The space is located at 1330 Broadway. Oracle will occupy the 17th and 18th floors of the 313,000-square-foot office building. The new lease continues the cloud applications and platform services provider’s expansion into the East Bay. The landlord, TMG Partners, recently renovated the building. This included a new main lobby and building entrance, common area finishes, elevator and building systems’ modernization, refurbished conference facilities, enhanced bike parking and commuter showers. John Dolby and Dane Hooks of Cushman & Wakefield represented TMG.
BRISBANE, CALIF. — Women’s retailer Bebe has announced it will close all 168 of its remaining stores. The company plans to move to an online-only model. Bebe entered into an agreement with Great American Group and Tiger Capital Group to sell all its merchandise and inventory, as well as certain of its subsidiaries located in its existing retail stores. The store closures should be complete by the end of May, according to a recent SEC filing. Bebe was founded in 1976. It operates Bebe, BebeSport and Bebe Outlet.
INDIO, CALIF. — An unnamed buyer has purchased the 90-unit Desert Oasis Apartments in the Coachella Valley submarket of Indio for $11 million. The community is located at 46211 Jackson St. The sale set a federal Housing & Urban Development (HUD) record of 17 bids within 24 hours according to Colliers, which brokered the deal. Desert Oasis, which is situated near Highway 111 and Interstate 10, will soon undergo a renovation. John Nguyen and Jesse Elsanhuty of Colliers International represented the seller, WNC & Associates, in this transaction.