LOS ANGELES — An individual/personal trust has acquired a 32-unit apartment complex in North Hollywood for $4.4 million. The community is located at 6706 Cleon Ave. in the Los Angeles submarket. Janette Monfared and Jason Tuvia of Marcus & Millichap represented both the buyer and seller, an LLC, in this transaction.
LOS ANGELES — Nordstrom Inc. opened its newest Los Angeles full-line store at Westfield Century City, a re-location from Westside Pavilion. The store offers a new store design and new customer services. Also, in West Hollywood, the retailer launched Nordstrom Local, a neighborhood hub where customers can access the company’s services in a central location. The three-level, 154,000-square-foot Century City store offers the fifth ‘Nordstrom x Nike’ sneaker boutique, a women’s-only fitness/fashion lifestyle concept; and SPACE, a boutique featuring advanced and emerging designers. The store also houses the first West Coast MAC Makeup Studio; Bar Verde, a full-service, seasonally-focused restaurant and bar; Style Bar, an area to meet with complimentary personal stylists; Nordstrom to You, a personal stylist service on wheels; Buy Online & Pick-Up In-Store; Reserve & Try In-Store; Curbside Pickup; and Two-Hour Delivery. Nordstrom Century City will have the company’s latest store design concept, which includes more windows to incorporate natural light and connect the shopping experience to the outside world. Also on the horizon: The company plans to open its 10th Nordstrom Rack location in Los Angeles at the FIGat7th shopping center downtown. Nordstrom Rack is the off-price division of Nordstrom. Nordstrom is a fashion retailer based in …
ONTARIO, CALIF. — A California-based investor has acquired the 160-unit Metro 102 Apartments in Ontario for $35 million. The community is located at 102 N. Lemon Ave. It sits adjacent to City Hall, Ontario Town Square and Euclid Avenue. The affordable apartment community was built in 2009 on a podium garage. It is 98 percent occupied. Community amenities include a resident lounge, pool table, swimming pool, gym and courtyard. Jim Fisher, Mike Smith and Joe Leon of Berkadia represented the seller, TruAmerica Multifamily, in this transaction.
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.
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.
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.
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.
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.
