FRESNO, CALIF. — Peak Campus has been awarded management of Campus Edge, a 416-bed, garden-style community located near Fresno State University in Fresno. The property offers one- and two-bedroom units with bed-to-bath parity. Community amenities include a newly renovated clubhouse with a fully equipped game room and fitness center; a business center; barbecue areas; and a resort-style swimming pool with a sun deck and hot tub.
COMPTON, CALIF. — Younger Optics has leased a 53,000-square-foot industrial facility in Compton. The five-year lease was valued at $2.3 million. The facility is located at 1900 Artesia Blvd. The company will occupy the space later this month. Frank Schulz, Todd Taugner and David Prior of the Klabin Co. represented Prologis. Jeff Smart of Colliers International represented Younger Optics in this transaction.
MARINA DEL REY, CALIF. — Upload Inc. has leased 20,000 square feet of creative office space in Marina Del Rey. The property, situated within the Marina Business Center, is located at 4505 Glencoe Ave. Upload’s expansion into the greater Los Angeles area marks the company’s first workspace in the Southern California market. The virtual reality company opened its first location, the Upload SF Collective, in the Mission area of San Francisco. CBRE’s Garrett Ellis, Carter Haslam, Jeff Pion and Shay Bolton represented Upload. NGKF’s Christopher Strickfaden represented the landlord, Marina Business Center LLC, in this transaction.
SAN DIEGO — Murphy Development Co. (MDC) has reacquired a 542,197-square-foot campus at the San Diego Business Park for $28 million. The property, which will be rebranded as The Campus at San Diego Business Park, is located at 2001 and 2055 Sanyo Ave. Panasonic will lease about 70 percent of the 329,000-square-foot building after MDC completes 42,000 square feet of new office improvements, at a value of about $15 million. The remaining 94,000 square feet of Class A industrial space and 209,700 square feet of office space will be marketed for lease. MDC originally built the campus in 1986 for Sanyo, which Panasonic acquired in 2010. Brent Bohlken and Bryan Teel of Newmark Grubb Knight Frank represented Panasonic. MDC represented itself in the transaction.
SAN DIEGO — A pair of Class A office buildings in the Golden Triangle area of San Diego have sold to an unnamed buyer for an undisclosed sum. The institutional-quality office campus buildings, Governor Executive Centre and Governor Park Plaza, are located at 6165, 6256, 6333 and 6363 Greenwich Drive. The properties are 90.9 percent leased to tenants like the University of California, San Diego. HFF’s Ryan Gallagher, Nick Psyllos, Nick Frasco and Michael Leggett represented the seller in this transaction.
ANAHEIM, CALIF. — S&A Management has acquired a 156,054-square-foot manufacturing building that serves as the headquarters of Taylor-Dunn for an undisclosed sum. The facility is located at 2114 W. Ball Road in Anaheim, with a two-story office building at 2100 W. Ball Road. The transaction is not expected to impact Taylor-Dunn’s continuing operations. The firm has engineered and manufactured vehicles from its location on West Ball Road for more than 65 years. Jeff Chiate and Mike Adey of Cushman & Wakefield’s National Industrial Advisory Group in Irvine represented both the buyer and seller in this transaction. The firm’s Rick Ellison and Randy Ellison also provided local market advisory.
LIVERMORE, CALIF. — Exeter Property Group has purchased 13.5 acres of land in East Livermore for $9 million. The property is located at the southeast corner of Greenville Road and I-580. The group plans to build a 260,000-square-foot, Class A distribution facility on the site. The project is scheduled to be ready for occupancy in the fourth quarter of this year.
SACRAMENTO, CALIF. — AMCAL Equities LLC has closed financing for and broken ground on The Crossings, a 750-bed student housing community located near the California State University, Sacramento campus. The $75 million community is being built within the Sacramento Center for Innovation, an area that has been designated by the city to foster the exchange of technical knowledge and expertise between students, faculty, innovative businesses and technology companies. The project will include an 11,000-square-foot Center for Innovation, to be used by students and faculty. Community amenities will include fully furnished units, a 14,800-square-foot clubhouse with an outdoor basketball court and a resort-style swimming pool. The developers received $22.5 million in funding from Anchor Real Estate Capital, and a $50 million construction loan from JPMorgan Chase. Humphreys & Partners Architects LP designed the project, and AMCAL General Contractors Inc. will oversee construction. Asset Campus Housing will manage the property upon completion. The project is scheduled for delivery in August 2018.
SAN FRANCISCO — Andi Owen, global brand president of Banana Republic, will leave Gap Inc. in late February. While a search is underway for Banana Republic’s next president, Gap Inc. CEO Art Peck will directly oversee the brand. Since joining Gap Inc. in 1991, Owen has held a variety of leadership roles at the company, including executive vice president and general manager for Gap Global Outlet and senior vice president and general manager for Banana Republic Factory Stores. San Francisco-based Gap Inc. oversees the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Gap Inc. has approximately 3,300 company-operated stores, 450 franchise stores and e-commerce sites.
SAN FRANCISCO — The Gymboree Corporation’s current CEO, Mark Breitbard, will assume the role of chairman of the board of directors, effective Feb. 1, 2017, and will step down as chief executive officer once a successor has been appointed. The board of directors will initiate a search to identify a CEO to lead the San Francisco-based company. As of Oct. 29, 2016, The Gymboree Corporation operated a total of 1,300 children’s apparel stores: 591 Gymboree stores (541 in the United States, 49 in Canada and one in Puerto Rico); 174 Gymboree Outlet stores (173 in the United States and one in Puerto Rico); 150 Janie and Jack shops (149 in the United States and one in Puerto Rico); and 385 Crazy 8 stores in the United States.
