SAN FRANCISCO — An unnamed buyer has acquired a 38-unit apartment building in San Francisco for $31.8 million. The community is located at 2201 Pacific Ave. Edward E. Young designed the property, which features a Spanish Colonial-themed lobby with a vaulted wood ceiling and gold and copper leaf design. James Devincenti and Brad Lagomarsino of Colliers International arranged the sale on behalf of Union Bank’s Trust Department, which represents the buildings’ outgoing ownership entity.
ANAHEIM, CALIF. — A grand opening celebration will be held this March 23, 2017, for Anaheim GardenWalk in Orange County. New restaurants now open in the retail center include House of Blues Anaheim, Rumba Room Live, Grasslands Meat Market, Artists Republic Gallery, Billy Beez, Go VR Gaming and Mission Escape Games. Anaheim GardenWalk is a 460,000-square-foot outdoor dining, shopping and entertainment center situated in the Anaheim Resort District near Disneyland, the Anaheim Convention Center, Angel Stadium and Honda Center.
MENLO PARK, CALIF. — Square Mile Capital Management LLC has provided a $145 million construction loan for the development of the first phase of Menlo Gateway, a 16-acre, master-planned project in the Menlo Park area of Silicon Valley. Located on Independence Drive near the Marsh Road exit of U.S. Route 101, the development will consist of approximately 705,000 square feet of office space across three eight-story buildings. The 16-acre parcel, located roughly two miles from Facebook’s headquarters, was previously zoned for industrial use. The Marriott Autograph Collection Hotel, a 250-room hotel currently under construction, will also reside on the land. The 11-story hotel offers a pool with cabanas and poolside bar, a spa, a lobby restaurant and coffee market, as well as 20,000 square feet of indoor and outdoor meeting space. Delivery is slated for late 2017. The Bohannon Development Co., which is based in northern California, is serving as the project developer. San Francisco-based Heller Manus Architects designed the project. Phase I of Menlo Gateway will include an eight-story, approximately 210,000-square-foot building located at 100 Independence Drive, as well as a 1,040-space parking deck. Phase I also includes delivery of The Bay Club, a 41,000-square foot fitness center with …
SAN FRANCISCO — An anonymous buyer has acquired a 50-unit apartment building in San Francisco for $29.8 million The asset is located at 1755 Van Ness Ave. The community was built in 1928 and features steel-frame and brick-infill construction on a concrete foundation. It also contains two ground-floor retail units. Architect Albert H. Larsen designed the property. Union Bank’s Trust Department represented the building owner. James Devincenti and Brad Lagomarsino of Colliers International executed the transaction.
LOS ANGELES — An unnamed buyer has acquired a 20-unit apartment complex in the Koreatown district of Los Angeles for $2.1 million. The community is located at 859 S. New Hampshire Ave. The asset was purchased as a value-add play. Adam Peterson of RE/MAX Commercial represented the seller, a family trust, in this transaction.
CAMARILLO, CALIF. — Lady’s Slipper 1031 LLC, a private investor, has acquired a 113,000-square-foot industrial building in Camarillo for $12.8 million. The building is located at 750 W. Ventura Blvd. along the Highway 101 corridor. Bob Tuler of Radius Commercial Real Estate and Investments represented the buyer. Mike Catalano and Craig Newlands of Savills Studley represented the seller, Sentinel Properties, in this transaction.
LOS ANGELES — A joint venture between Zion Enterprises and TA Partners has purchased a 1.3-acre development site in downtown Los Angeles for an undisclosed sum. The site is situated on Grand Avenue and Cesar Chavez Avenue. The land is entitled for a 22-story, 299-unit multifamily tower with 8,000 square feet of ground-floor retail. The JV received development entitlements during escrow. CBRE’s Laurie Lustig-Bower and Kamran Paydar represented the seller, an affiliate of locally based Cimmarusti Holdings, in this transaction.
HAYWARD, CALIF. — EP Container Corp. has renewed its lease for an 18,000-square-foot industrial warehouse/distribution facility in the East Bay submarket of Hayward. The facility is located at 1672 Delta Court. The property is situated within a larger multi-tenant warehouse space that features office space, dock-high and drive-in loading access, ample parking and significant power. Kate Webster of Cushman and Wakefield represented the renter. Greig Lagomarsino and Rick Keely of Colliers International represented the landlord, MIREF Delta Court LLC, in this transaction.
IRVINE, CALIF. — Toshiba America has leased 96,000 square feet of office space at University Research Park in Irvine. The park sits adjacent to UC Irvine, which features tech and innovation incubators including the 47,000-square-foot Cove and the Vine, where startups have generated more than $24 million in funding. The 185-acre office park is currently home to more than 75 companies and more than 8,000 employees. Toshiba America will move its electronics components, information systems and logistics companies to the campus, which is currently undergoing updates. JLL’s Louis Tomaselli and Steve Wagner represented Toshiba.
OCEANSIDE, CALIF. — Kellermeyer Bergensons Services LLC, an Oceanside-based provider of retail and grocery technology, has purchased Image by J&K LLC, a provider of facilities maintenance services. Image was founded in 2006 and operates in 34 states. GI Partners, a private equity investment firm, is the majority owner of Kellermeyer Bergensons Services.
