California

Newell Brands Leases 195,508 SF at Southern California Logistics Airport in Victorville

by Nellie Day June 28, 2017

VICTORVILLE, CALIF. — Newell Brands has signed a three-year lease for 195,508 square feet of industrial space at Southern California Logistics Airport in Victorville. The space is situated in the 370,023-square-foot Distribution Centre 18. SCLA is an 8,500-acre multimodal freight transportation hub that includes a 2,500-acre commercial and industrial complex entitled for 60 million square feet of development. The facility was completed on June 22. The new lease brings DC 18 to full occupancy. Plastipak Packaging will occupy the remainder of the building. CBRE’s Ryan Athens represented Newell Brands. The same firm’s Jay Dick represented the landlord, Stirling Development, in this transaction.

June 28, 2017

California Retail Western

Skechers Opens Largest Superstore at Ontario Mills

by Nellie Day June 28, 2017

ONTARIO, CALIF. — Skechers USA Inc., a footwear manufacturer, has opened its largest Skechers mall-based factory outlet store. The 24,000-square-foot store is located at Ontario Mills in Ontario. The store features dedicated shops for the various Skechers lifestyle and performance collections for men and women, an kids area complete with theater and a shop dedicated to the brand’s apparel collection. The Ontario Mills Skechers superstore joins a retail portfolio that includes large-format stores in Las Vegas and Gardena, Calif., plus flagship stores in locations such as Los Angeles’ Hollywood & Highland, Times Square in New York, San Francisco’s Powell Street, London, Tokyo, Shanghai and other cities around the world. At the end of the second quarter of 2017, Skechers had 2,055 stores worldwide, with 584 being company owned.

June 28, 2017

California Multifamily Student Housing Western

HKS, Clark Construction Unveil Plans for Mixed-Use Community at University of California San Diego

by Nellie Day June 27, 2017

SAN DIEGO — HKS and Clark Construction have unveiled plans for North Torrey Pines Living and Learning Neighborhood, a mixed-use community located in the center of the University of California San Diego campus. Designed for LEED Platinum certification, the development will house 2,000 students and feature seven mixed-use buildings that offer a combination of living, learning, community and administrative facilities. Additional features will include 1,200 parking spaces and pedestrian- and bike-friendly pathways. HKS is the lead design architect and the architect of record. Other team members include design firm Safdie Rabines Architects and landscape architect OJB. The project is slated for completion in August 2020.

June 27, 2017

California Retail Western

Hanley Investment Group Arranges $8.9M Sale of Retail Building in La Quinta

by Nellie Day June 27, 2017

LA QUINTA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building occupied by TJ Maxx and ULTA Beauty in La Quinta. The 33,708-square–foot building is within Washington Park Shopping Center, which houses Target, Lowe’s, Trader Joe’s, ALDI, Stein Mart and Century Theatres. Hanley Investment Group’s Bill Asher represented the undisclosed seller in the $8.9 million transaction. Steven Gelber of Gelber Realty Corp. represented the buyer, a private investor from Los Angeles.

June 27, 2017

California Multifamily Student Housing Western

Asset Campus Housing Assumes Management of 416-Bed Student Housing Community in Fresno

by Nellie Day June 27, 2017

FRESNO, CALIF. — Asset Campus Housing has taken over management of Campus Edge, a 416-bed community near Fresno State University. The pet-friendly property features one- and two-bedroom floor plans with private patios and walk-in closets. Community amenities include hot tubs, a resort-style pool with sundeck and renovated clubhouse equipped with a game room and business center.

June 27, 2017

California Office Western

TMG, Valley Oak Partners Submit Plans for 1 MSF Office Project in San Jose

by Nellie Day June 26, 2017

SAN JOSE, CALIF. — A joint venture between TMG Partners and Valley Oak Partners has completed a preliminary review submittal application to the City of San Jose to develop close to 1 million square feet of commercial office space. The project would be situjated on 5.4 acres at 440 W. Julian St. within the Diridon Station Area Plan. The proposal includes three six-story office buildings and below-grade parking. The three buildings would contain 157,000 square feet, 345,000 square feet and 490,000 square feet, respectively, with views of downtown San Jose. Each building will feature floor plates ranging from 30,000 square feet to 90,000 square feet, as well as 15-foot floor-to-floor heights and large, private terraces on every floor. The site is situated near Google’s yet-to-be-constructed village development. Kohn Pedersen Fox Associates would act as the designer.

June 26, 2017

California Industrial Western

BLT Enterprises Acquires FedEx Logistics Center in Costa Mesa for $33.4M

by Nellie Day June 26, 2017

COSTA MESA, CALIF. — BLT Enterprises has acquired a 112,000-square-foot logistics property in Costa Mesa for $33.4 million. FedEx occupies the center, which is located at 1650 Sunflower Ave. FedEx’s lease was set to expire next year, but a blend-and-extend lease was built into the sale that will keep the company there until 2028. The property was built in 1976 and repurposed in 2008. The seller was Sovereign Capital Management Group. Colliers’ Institutional Investment Services Group – Western Region executed the sale.

June 26, 2017

California Industrial Western

Rexford Industrial Buys Douglas Park Building in Long Beach for $30.6M

by Nellie Day June 26, 2017

LONG BEACH, CALIF. — Rexford Industrial Realty has purchased a build-to-suit facility at Douglas Park in Long Beach for $30.6 million. The 136,965-square-foot building is occupied by Universal Technical Institute, which signed a 15-year lease. CBRE’s Darla Longo, Barbara Emmons Perrier, Rebecca Perlmutter Finkel and Michael Kendall represented the buyer and seller, Sares Regis Group, in this transaction. CBRE’s John Schumacher, Brian DeRevere and J.B. Green were the local market experts on the deal.

June 26, 2017

California Office Western

Savills Studley Leases Office Space in Newport Beach

by Nellie Day June 26, 2017

NEWPORT BEACH, CALIF. — Savills Studley has signed a long-term lease for 17,675 square feet of office space at 520 Newport Center Drive in Newport Beach. The relocation will combine Savills Studley’s two existing offices at 19100 Von Karman Ave. in Irvine and 610 Newport Center Drive in Newport Beach. The Newport Beach location was the former home of Cresa Orange County which Savills Studley acquired in February. The space will feature a modern aesthetic with an emphasis on simplicity and openness, including a series of strategically located collaborative hubs and flexible meeting areas for internal and external gatherings. Irvine Company Office Properties owns the property. Savills Studley will occupy the building’s eighth floor in September.

June 26, 2017

California Hospitality Western

Lone Oak Lodge in Monterey Changes Hands

by Nellie Day June 23, 2017

MONTEREY, CALIF. — A local, private investor has acquired the 46-room Lone Oak Lodge in Monterey for an undisclosed sum. The hotel is located at 2221 N. Fremont St. The boutique property is near the Monterey Bay Aquarium, Cannery Row, Fisherman’s Wharf and Pebble Beach. Joshua Miehl and Oliver Shah of Atlas Hospitality Group represented the seller.

June 23, 2017

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