LOS ANGELES — UCLA Extension is relocating its administrative headquarters in Los Angeles. The school has leased a 51,452-square-foot space at 10960 Wilshire Blvd. The new facilities are just four blocks from its current location at 10955 Le Conte Ave. in Westwood Village. The extension signed a long-term lease for floors 16 and 17, which are joined by an interconnecting staircase. Craig Jablin of Savills Studley represented UCLA.
LOS ANGELES — Rexford Industrial Realty has purchased a 1.2 million-square-foot industrial facility in the South Bay submarket of Los Angeles for an undisclosed sum. The facility is located at 20001-20021 Rancho Way and 2301-2399 E. Pacifica Place in Rancho Dominguez. The master-planned park was built between 1987 and 1989. It includes five industrial buildings and one flex building, each residing on its own parcel. Known as Rancho Pacifica Park, the facility was 99 percent leased at the time of sale. Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Nico Napolitano of Cushman & Wakefield represented the seller in this transaction.
SAN FRANCISCO — Bridgeton Holdings has sold The Pioneer Building, a 37,104-square-foot office building in San Francisco’s Mission District, to American Realty Advisors for $34 million. The building is fully leased to Musk Industries, a venture backed by Elon Musk. The new lease with Musk Industries is for a 10-year term with space delivered in “as-is” condition. NKF’s Kyle Kovac, Michael Taquino and Daniel Cressman represented Bridgeton Holdings in this transaction.
LA MESA, CALIF. — Anchor Health Properties has purchased Fletcher Parkway Medical Center, an 82,024-square-foot medical office building in the San Diego suburb of La Mesa, for an undisclosed sum. The building is situated adjacent to Sharp Grossmont Hospital, just north of the Interstate 8/California 125 interchange. Sharp HealthCare anchors the center. The asset features services like Surgical Care Affiliates (SCA) surgery center, radiology, laboratory, diagnostics, cardiology, pediatrics, ophthalmology, rehabilitation and hospice. HFF’s Evan Kovac, Andrew Milne and Trent Jemmett represented the seller, The Abbey Company, in this transaction.
SAN DIEGO — An undisclosed buyer has acquired the 63-room Rodeway Inn San Diego for $7.5 million. The hotel is located at 5399 Adobe Falls Road, near Qualcomm Stadium. Joshua Yammer, Sarhan Mheni and Walter Brauer of Marcus & Millichap represented the seller, a partnership, in this transaction.
OAKLAND, CALIF. — Trammell Crow Residential and KTGY Architecture + Planning have broken ground on Alexan Webster, a mixed-use development being built on a parking lot at 2330 Webster St. in the Lake Merritt neighborhood of Oakland. Designed by KTGY, the 1.4-acre redevelopment project will feature a 234-unit apartment community, 15,000 square feet of street-front retail space and a public and residential parking garage. The $135 million sustainable development will also feature 5,000 square feet of indoor amenity and leasing office space, as well as a lap pool, business center, 24-hour fitness center, outdoor kitchen, bicycle repair center and storage and a rooftop deck. The residential component will feature a mix of studio, one- and two-bedroom apartments ranging in size from 610 square feet to 1,160 square feet. Completion is slated for summer 2019.
HUNTINGTON BEACH, CALIF. — Marcus & Millichap has brokered the sale of Seagate Plaza, a shopping center located at 16107 Bolsa Chica St. in Huntington Beach. Cathy Investments acquired the property from Asbury Properties for $10.8 million. Carl’s Jr., Seagate Veterinary Hospital, Classic Cleaners, Seagate Liquor & Grocery, Subway and Coastline Dental occupy the 30,234-square-foot retail plaza, which was built in 1975. Joseph Lising of Marcus & Millichap represented the buyer in the 1031-exchange transaction.
ORANGE, CALIF. — Coldwell Banker Commercial Advisors (CBC Advisors) has arranged the sale of Shops at Stater Bros, a multi-tenant retail strip center located on Tustin Avenue in Orange. A local buyer acquired the retail center for $3.8 million. The property features 14,575 square feet of retail space. Scott Hook of CBC Advisors represented the undisclosed seller in the transaction.
TEMECULA, CALIF. — Colliers International has arranged the acquisition of a multi-tenant retail and industrial property located at 41735 Winchester Road in Temecula. Anderson Family Trust acquired the property from Winchester Group JV for $3.2 million. Redline Athletics, The Springs Community Church and All Star Promotions, among others, occupy the 27,924-square-foot building, which was fully occupied at the time of sale. Joe Brady of Colliers represented the buyer, while John Pfaffl of Jonan Property Services represented the seller in the deal.
SANTA MONICA, CALIF. — Cypress Equity Investments has purchased a commercial property located at 3223 Wilshire Blvd. in Santa Monica. Satnam Investments sold the property for an undisclosed price. The property is comprised of two parcels, including a two-story, 11,730-square-foot building. The parcels are zoned mixed-use, allowing for a range of redevelopment opportunities. Mitchell Stokes of Madison Partners represented the seller and buyer in the deal.
